In 2024, the landscape of soft drink companies is more vibrant than ever. As we sip our way through the year, it’s clear that these beverage titans are not just surviving; they’re thriving. The Coca-Cola Company leads the charge, with a projected 6% to 7% sales growth. Not far behind, PepsiCo holds a significant market slice. Together, they dominate the fizzy world of sodas.
Yet, the industry is bubbling with change. Consumers now favor balance, often choosing non-carbonated options. This shift has prompted soft drink companies to innovate. They’re introducing unique flavors that require less sweetening. It’s a refreshing turn, aligning with the health-conscious trends of our times. So, let’s dive into the effervescent world of the top 10 soft drink companies in 2024. We’ll explore how they’re adapting and what makes them the people’s choice. Join me on this fizzy journey, where each sip tells a story of innovation and resilience
- As of now, in 2023, the market size of the soft drink industry is $471.35 billion.
- The international soft drink market is anticipated to increase with a CAGR of 5.23% up to 2030.
List of Top 10 Soft Drink Companies in 2024
- Coca-Cola
- PepsiCo
- Unilever
- Starbucks
- Nongfu Spring
- Monster Energy Company
- Keurig Dr Pepper Inc.
- Danone
- Asahi Group Holdings
- AriZona Beverages
1. Coca-Cola
- Origin Country: USA
- Founding year: 1892
- Net worth: $269.46 Billion
Coca-Cola once again retain its position as one of the top soft drink companies in 2024. In the first quarter of 2024, Coca-Cola’s performance sparkled. Net revenues grew 3% to $11.3 billion, with organic revenues (non-GAAP) soaring by 11%. This growth was fueled by a 13% rise in price/mix, although concentrate sales dipped by 2%. Despite a decline in operating margin, the company’s comparable operating margin (non-GAAP) expanded to 32.4%, driven by refranchising bottling operations and strong topline growth. EPS grew 3% to $0.74, while comparable EPS (non-GAAP) rose to $0.72. Currency headwinds played a role in these figures. Coca-Cola also gained a value share in total nonalcoholic ready-to-drink (NARTD) beverages. Cash flow from operations increased by $368 million, driven by business performance and working capital initiatives. Free cash flow (non-GAAP) also saw a boost, rising to $158 million.
As for new products, Coca-Cola recently launched “Coca-Cola Happy Tears Zero Sugar,” exclusively available on social media in the United States and Great Britain. This innovative move taps into consumers’ increased engagement across various platforms. So, whether you’re sipping a classic Coke or exploring their latest offerings, Coca-Cola continues to fizz with success!
Here are some of their most popular Coca-Cola brands:
- Fanta
- Spirte
- Coke
- Coca-Cola Classic
2. Pepsico
- Origin Country: USA
- Founding year: 1898
- Net worth: $225.20 Billion
In the first quarter of 2024, PepsiCo, a leading company among the top 10 soft drink companies globally, delivered a refreshing performance. Their net revenue reached $18.2 billion, growing 2.3% year-over-year—a feat that exceeded expectations. Organic revenue growth stood at 2.7%, reflecting their agility and resilience in a dynamic market. Notably, GAAP net income increased by 6% to $2 billion, translating to $1.48 per share. Core EPS also saw robust growth, climbing 7% to $1.61, surpassing projections of $1.52.
Despite challenges, PepsiCo’s international business performed well. Their focus on delivering great-tasting products resonated with consumers worldwide. Looking ahead, the company aims for at least 4% organic revenue growth and an impressive 8% core constant currency EPS growth in 2024. Additionally, PepsiCo’s commitment to shareholders remains steadfast—their 52nd consecutive annual dividend increase is on the horizon!
Pepsico’s famous brands are:
- Gatorade
- Tropicana
- Pepsi
- Mountain Dew
3. Unilever
- Origin Country: UK
- Founding year: 1929
- Net worth: $141.09 Billion
Unilever holds a prominent position in the global soft drink market in revenue. With a presence in 190 countries, Unilever offers a diverse range of products encompassing personal care, beauty, beverages, food, ice cream, and condiments. Its renowned beverage brands enjoy widespread popularity, contributing to Unilever’s status as the third-largest consumer goods company in the world based on revenues, with a market capitalization of USD $132.05 billion.
Some of their popular brands are:
- Bru
- Buavita
- Jif
- Lipton
4. Starbucks
- Origin Country: USA
- Founding Year: 1971
- Net Worth: $90.22 Billion
Starbucks, a global coffeehouse chain, has seen consistent revenue growth over the past decade. In 2023, their consolidated net revenues reached a record $9.4 billion in the fourth quarter alone, with an impressive 11% increase. Their active U.S. Starbucks Rewards membership also soared to 32.6 million, reflecting a 14% year-over-year growth.
For the full fiscal year 2023, Starbucks achieved an 8% increase in global comparable store sales. North America and the U.S. led the way with a 9% increase, while international markets also contributed, especially China with a 2% increase in comparable store sales1.
Starbucks’ revenue primarily comes from beverage sales. Their iconic coffee drinks, such as lattes, cappuccinos, and cold brews, remain customer favorites.
The brand’s global appeal lies in its consistent quality, cozy ambiance, and commitment to customer experience. Whether you’re in New York, Beijing, or Paris, Starbucks offers a familiar taste and a welcoming environment.
Starbucks’ success transcends borders due to its strategic expansion, adaptability, and focus on creating a “third place” (beyond home and work) for people to gather, work, or relax. This universal appeal has made Starbucks a beloved brand in over 80 countries, with more than 38,000 stores worldwide.
5. Nongfu Spring
- Origin Country: China
- Founding Year: 1996
- Net Worth: $57.24 Billion
Nongfu Spring, established in 1996, has become a powerhouse in the Chinese beverage market, but it’s not quite a contender for the top 10 soft drink companies in 2024. Their strength lies in bottled water, where they hold a commanding market share of over 26.5%. Their success stems from a robust national distribution network reaching millions of retail outlets and a commitment to high-quality products sourced from natural springs.
However, Nongfu Spring isn’t resting on its laurels. They are strategically diversifying their beverage portfolio beyond bottled water. Sugar-free tea options like “Oriental Leaf Tea” have been a major hit, contributing nearly 30% of their revenue in 2023. This diversification has helped them achieve impressive revenue growth, with total revenue in 2023 surpassing RMB 42.67 billion (USD 5.8 billion). Overall, Nongfu Spring’s focus on quality and strategic product expansion has solidified its position as a major player in the Chinese beverage landscape.
6. Monster Energy Company
- Origin Country: USA
- Founding year: 1935
- Net worth: $47.33 Billion
In the first quarter of 2024, Monster Beverage Corporation reported impressive results. Net sales surged by 11.8% to $1.90 billion compared to the same period last year. Despite unfavorable currency exchange rates (especially in Argentina), their Monster Energy® Drinks segment led the charge with a 10.7% increase in net sales.
Brands like Monster Energy®, Reign Total Body Fuel®, and Bang Energy® contributed to this growth. Additionally, strategic brands and alcohol brands also saw remarkable gains, showcasing the company’s resilience and market presence.
The highlights of the Monster Energy brands include:
- Monster Energy
- Lo Carb
- Absolutely Zero
- M-80
7. Keurig Dr. Pepper
- Origin Country: USA
- Founding year: 2008
- Net worth: $46.14 Billion
Keurig Dr. Pepper Inc. operates in the beverage industry and holds the fifth position among the world’s largest and most popular soft drink brands in terms of revenues and it has also been ranked fifth on our list of the top 10 soft drink brands. Keurig Dr. Pepper Inc. actively offers 125 cold and hot beverages, including juices, sodas, and soft drinks. The company holds a market share of 25%.
Their brands include products such as:
- Dr Pepper
- 7up
- RC Cola
- Sun Drop
8. Danone
- Origin Country: Spain
- Founding year: 1919
- Net worth: $42.88 Billion
Danone delivered a good start to 2024, with quality growth. Which eventually helped retain its spot among the top soft drink companies in 2024. Net sales reached €6,789 million in Q1, up by 2.9%. Their like-for-like (LFL) basis showed a strong 4.1% growth, driven by positive volume/mix across categories. (Note: Replace the first sentence from the paragraph with this.)
A few of the brands they own are:
- Danone Aqua
- Nutrilon
- Danette
- Bonafont
9. Asahi Group Holdings
- Origin Country: Japan
- Founding year: 1889
- Net worth: $18.10 Billion
Asahi Group Holdings Ltd., a prominent Japanese company, has secured a significant position in the global soft drink market in terms of revenue, earning it the distinction of being ranked fourth on our list of the top 10 soft drink brands. The company specializes in the beverage industry, providing diverse products, including juice, bottled water, and an assortment of soft drinks. Asahi Group Holdings operates through multiple divisions, with its soft drinks segment capturing a substantial market share of 17.2%.
A glimpse of the brands they own:
- Wilkinson
- Jurokucha
- Mitsuya Cider
- Calpis
10. Arizona
- Origin Country: USA
- Founding year: 1971
- Net worth: $2 Billion
Next up on the list of the top 10 soft drink companies in 2024 is the Arizona Beverage Company. It caters to a large customer base, primarily in the USA, Mexico, and Canada. Renowned for its wide range of products, including energy drinks, juice cocktails, iced tea, and soft drinks, the company holds a significant market share of 13.8%.
While iced tea remains their core business, AriZona has expanded into other beverage categories like fruit juices and energy drinks. In 2023, AriZona launched a line of hard seltzers called AriZona Hard, targeting a new audience segment and capitalizing on the growing popularity of hard seltzers.
They have a variety of brands, including:
- Black & White Tea
- Cherry Lime Rickey
- Fruit Punch
- Munch Mango
Last Sip of the blog
This list of the top 10 soft drink companies in 2023 has provided a comprehensive picture of the industry’s major players. You will gain valuable insights into the ever-changing soft drink business by examining these brands’ various features and statuses. With so many options, you may now make informed decisions to satisfy your beverage preferences. Visit our site frequently to stay up-to-date and informed as we attempt to provide you with the most recent updates on various issues.
FAQs
- Which are the US top-selling sodas in 2024?
Ans: Coca-Cola, Dr. Pepper, and Redbull are the most popular soda brands in the US.
- Which are Asia’s top soft drink brands in 2024?
Ans: Coca-cola, Pepsico and Asahi Group
- Europe’s top soft drink brands 2024.
Ans: Coca-Cola, Pepsico and Nescafe
Also Read: 10 Technologically Advanced Countries Dominating the World
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