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Shoppers are boycotting Coca-Cola amid a backlash over Donald Trump’s erratic foreign policy, Carlsberg has said.
The Danish brewer, which bottles the fizzy drink in its home country, said sales were “slightly down” as consumers protested against the US president.
Jacob Aarup-Andersen, the Carlsberg chief executive, said: “There is a level of consumer boycott around the US brands ... and it’s the only market where we’re seeing that to a large extent.”
Mr Trump has ignited a global trade war and market chaos after slapping huge tariffs on scores of countries and industries.
He has sparked particular anger in Denmark after making repeated threats to seize control of Greenland, an autonomous Danish territory, either by buying the island or through military force.
JD Vance, the US vice-president, placed further strain on relations between the two countries following a trip to Greenland last month, during which he said Copenhagen had “not done a good job by the people of Greenland”.
He previously accused Denmark of “not being a good ally” to the US, despite the fact that thousands of Danish troops served in Iraq and Afghanistan and many lost their lives.
In comments to investors reported by the Financial Times, Mr Aarup-Anderson said smaller local brands were gaining market share on their US rivals. He added that the overall impact on sales was “not dramatic”.
Sales of Denmark’s Jolly Cola at the Rema 1000 supermarket chain surged 13-fold compared to the same time last year. Other supermarkets including Coop and Fleggaard have also seen significant increases in demand for Danish cola equivalents, according to local news reports.
The Carlsberg boss said that Coca-Cola and Pepsi were “both being produced by Danish brewery workers in Danish breweries so these are very much, from our perspective, also Danish brands”. But he added: “We fully respect people’s decisions.”
It is not the first time Coca-Cola has fallen victim to a boycott given its status as the archetypal US consumer brand.
The company has faced a boycott in Muslim countries in the wake of the conflict in Gaza due to its operations in the West Bank and a wider backlash against the US over its support of Israel.
The warning by Carlsberg came as US drinks giant Coca-Cola reported a 2pc decline in revenues to $11.1bn (£8.3bn) in the first quarter amid tariff uncertainty and declining consumer sentiment.
However, the drinks giant, which also makes Fanta and Sprite, said it expects the impact of tariffs to be manageable, largely because most of its bottling operations around the world are locally run businesses.