Kevin JohnsonThe Coca-Cola Company is the world’s biggest non-alcoholic beverage producer based in Atlanta, Georgia. The company was founded in May 1886 by pharmacist John Stith Pemberton to sell his sugary Coca-Cola drink.
In 1889, Asa Griggs Candler acquired the Coca-Cola formula and brand for $2,300 and incorporated the Coca-Cola Company three years later. The company owns over 300 beverage brands, including Coke, Sprite, Fanta, VitaminWater, Costa coffee, and Bodyarmor.
Its products are available to consumers in more than 200 countries globally. In 2021, Coca-Cola had 62,600 employees and reported a 17% increase in revenue to $38.7 billion. [1]
Coca-Cola revolutionized the soft drink sector with its franchised distribution system that allows the company to sell syrup concentrate to bottling companies globally. Bottlers mix the concentrates or syrups with sparkling water and sweeteners before bottling and distributing the finished product to consumers.
In 2020, the company slashed 200 local brands or about half of its product line to unlock resources for its core brands. The restructuring process increased sales by 16%, including a 7% growth for sparkling soft drinks, sports drinks, tea, and coffee.
The nutrition, juice, dairy, and plant-based beverages grew by 12%. But Coca-Cola faces stiff competition from PepsiCo, Nestlé, Mondelez, Nongfu Spring, Keurig Dr. Pepper, Red Bull, and Monster. [2]
Here is an in-depth analysis of top Coca-Cola’s competitors and alternatives:
1. PepsiCo
Year founded: 1893
Headquarter: Purchase, New York
PepsiCo is the second-largest non-alcoholic beverage company globally after Coca-Cola. The company owns several brands that generate over $1 billion annually, including Pepsi, Mountain Dew, Fritos, and Tropicana. In 2021, PepsiCo had 267,000 employees and made $79.47 billion in revenue. Its operating profit increased by 11% to $11.1 billion. [3]
PepsiCo and Coca-Cola compete across the beverage sector in over 200 countries. PepsiCo’s Pepsi and Coca-Cola’s Coke, Sprite, and Fanta are the most popular soft drinks globally. The two giants compete in the bottled water market, with Lifewtr versus Aquafina. And Gatorade battles with Coca-Cola’s energy drinks.
In Q1 2022, PepsiCo’s beverage business posted a 21% increase in operating profit. Pepsi and Coca-Cola raised their 2022 sales outlook. In 2022, PepsiCo expects its organic sales to rise by 8%. PepsiCo is the top Coca-Cola competitor and alternative. [4]
2. Nestle
Year founded: 1866
Headquarter: Vevey, Switzerland
Nestlé is the world’s largest food company that offers teas, coffees, bottled water, baby food, drink condiments, ice cream, cereals, and pet products. The Swiss food group owns top-selling brands, including Milo, Nescafe, Peptamen, Perrier, S. Pellegrino, and Aqua Panna. In 2021, Nestlé had around 276,000 employees and reported a 3.3% increase in revenue to $87.47 billion.
Nestlé doesn’t offer soft drinks. But it competes against Coca-Cola in the bottled water, dairy, and coffee categories. Nestlé’s bottled water brands include Pure Life, Poland Spring, Perrier, Aqua Panna, and S. Pellegrino.
In 2021, its fortified milk, coffees, ice creams, and bottled water posted single-digit growth. Nestlé’s coffee segment includes Nescafé, Nespresso, and Starbucks. These three billion-dollar brands compete against Coca-Cola’s Costa. Nestlé is one of the top alternatives to Coca-Cola for coffee beverages. [5]
3. Mondelez International, Inc.
Year founded: 2012
Headquarter: Chicago, Illinois
Mondelēz is an American multinational food and beverage company. With a $94 billion valuation, Mondelēz is a force to reckon with in the confectionery and snack business. In 2021, the company had around 79,000 employees and reported an 8% increase in revenues to $28.72 billion. [6]
Mondelēz sells its products in more than 160 countries. The company owns several world-famous brands, including Oreo, Cadbury, Five Star, Bournvita, Dairy Milk, and Tang. These products compete against Coca-Cola’s brands. Mondelez International Inc is one of the top Coca-Cola competitors.
4. Nongfu Spring
Year founded: 1996
Headquarter: Hangzhou, China
Nongfu Spring is a Chinese bottled water and non-alcoholic beverage company. It is owned by China’s richest man Zhong Shanshan, worth $67.4 billion. In 2021, Nongfu Spring reported a 29.8% increase in sales to 29.6 billion yuan ($4.1 billion). Its net profit surged by 35.7% to 7.2 billion yuan.
Nongfu Spring is best known for its bottled water. But it also offers tea beverages. In 2021, the share of tea beverages in its revenue mix increased to 15.4%, and bottled water’s share dropped to 57.4%.
The company adopted the dual-growth engine strategy to deliver high-quality packaged drinking water and beverages. Nongfu Spring is an innovative Coca-Cola competitor. [7]
5. Keurig Dr. Pepper (KDP)
Year founded: 2018
Headquarter: Plano, Texas
KDP is a leading North American beverage company that offers hot and cold drinks. The company was formed after Dr. Pepper Snapple merged with Keurig Green Mountain in Jul 2018. In 2021, KDP had around 26,000 employees and generated $12.68 billion in revenue. [8]
Keurig Dr. Pepper offers coffees, soft drinks, teas, bottled water, juices, and mixers. The company has more than 125 beverage brands, including 7UP, Dr. Pepper, Schweppes, Snapple, Hawaiian Punch, RC Cola, and Hydrive Energy Water.
As of Jan 2022, KDP was the 357th most valuable food and beverage company globally, with a market value of $52.89 billion. Keurig Dr. Pepper is one of the top competitors for Coca-Cola in North America.
6. Red Bull GmbH
Year founded: 1984
Headquarter: Fuschl am See, Salzburg, Austria
Red Bull is an Austrian-Thai private company that offers Red Bull energy drinks. The company has around 12,200 employees and operates in over 171 countries globally. In 2021, Red Bull sold 9.804 billion cans of energy drinks worldwide and reported a 23.9% increase in revenue to EUR 7.816 billion. It generates around $1.5 billion per quarter in the US alone.
The main competitive advantage for Red Bull is its innovative marketing strategies. The company sponsors extreme sporting events and owns Formula One team Red Bull Racing and soccer clubs RB Leipzig and New York Red Bulls.
As of Dec 2021, Red Bull was the leading energy drink brand in the US. Its products are available in about 20 flavors, including Red Bull Zero and Red Bull Sugarfree. Red Bull is the best alternative to Coca-Cola for stimulating energy drinks. [9]
7. Starbucks
Year founded: 1971
Headquarter: Seattle, Washington
Starbucks is the world’s largest coffeehouse chain, with 33,833 coffee shops in over 80 countries. The company is the leading coffee retailer, making it the best alternative to Coca-Cola’s coffee products. In 2021, Starbucks had 383,000 employees and reported a 24% increase in revenue to $29.1 billion. [10]
Starbucks competes against Coca-Cola’s Costa coffee shops. Both Starbucks and Costa serve premium coffee, espresso, cappuccino, and baked goods.
In 2022, Starbucks ranked 117th most valuable beverage brand with a market value of $89 billion. It is the second-largest US fast-food chain with 15,444 US restaurants. Starbucks is the top alternative to Costa coffee.
8. Monster Beverage Corporation
Year founded: 1935
Headquarter: Corona, California
Monster is an American beverage company that manufactures energy drinks. Although Monster is owned by Coca-Cola, it competes against its parent company in the energy drink market. In 2021, Monster had 3,660 employees and reported a 20.5% increase in revenue to $5.54 billion.
Monster owns several energy drinks brands, including Monster Energy, Full Throttle, Burn, NOS, Relentless, Mother, Reign, and Predator. In Feb 2022, Monster acquired craft beer and hard seltzer company CANarchy for $330 million.
The company launched Juice Monster Aussie Lemonade, Rehab Monster Watermelon, Reign Body Fuel, Reignbow Sherbet, and Ultra Peachy Keen in 2022. Monster is one of the best alternatives to Coca-Cola for energy drinks. [11]
9. Danone
Year founded: 1919
Headquarter: Paris, France
Danone is a multinational food company founded in Barcelona, Spain. It is a component of the Paris CAC 40 stock market index and sells its products under the Dannon brand in the US. In 2021, Danone’s net sales increased by 3.4% to €24.28 billion ($28.73 billion). The company has around 105,700 employees across over 120 countries globally.
Danone offers dairy and plant-based products, bottled water, and early life and medical nutrition. Its bottled spring and source water compete against Coca-Cola’s Dasani. In 2021, Danone posted impressive full-year results driven by strong growth in Q4 at 6.7%.
The company expects to return to profitable growth in 2022. Danone is a worthy Coca-Cola competitor in the bottled water market. [12]
10. Kraft Heinz Company
Year founded: 2015
Headquarter: Chicago, Illinois, and Pittsburgh, Pennsylvania
Kraft Heinz is an American multinational food and beverage company with eight billion-dollar brands. The company was formed after Kraft Foods merged with Heinz. In 2021, Kraft Heinz had around 36,000 employees and generated $26.04 billion in revenue.
Kraft Heinz owns several brands, including Kool-Aid, Capri Sun, Baker’s Hot Chocolate, Heinz Tomato Juice, and Crystal Light. These hot and cold beverages compete against Coca-Cola’s brands. Kraft Heinz’s impressive 2021 full-year results showed a significant rebound after a downtrodden 2020.
However, supply chain issues in the fourth quarter undercut sales and profits. Although Q4 sales declined 3.3% year-over-year, its full-year net profit surged 184% to $1 billion. Kraft Heinz is a worthy Coca-Cola competitor. [13]
11. Unilever
Year founded: 1929
Headquarter: London, United Kingdom
Unilever is a manufacturing company with 13 billion-dollar brands. The company offers beauty care products, teas, coffees, and juices. In 2021, Unilever had 168,800 employees and reported a 4.5% increase in revenue to $62.05 billion.
Unilever’s Foods and Refreshment segment posted a 5.6% revenue growth in 2021. In Feb 2022, Unilever sold its tea business for €4.5 billion. The company will hand over its tea brands to the new owner in H2 2022, including Brooke Bond, Lipton Tea, Lyons, Pure Leaf, Pukka Herbs, Saga, and Red Rose Tea.
But Unilever still owns Bru instant coffee, Buavita and Rani fruit juices, and Jif lemon and lime juice. Unilever is a formidable Coca-Cola competitor in the beverage market. [14]
12. Britvic
Year founded: 1930
Headquarter: Hemel Hempstead, UK
Britvic is an LSE-listed British soft drink company and a constituent of the FTSE 250 Index. The company was founded to offer vitamin juices and expanded its product line after rebranding in 1971. In 2021, Britvic had 4,113 employees and generated £1.405 billion in revenue.
Both Britvic and Coca-Cola produce soft drinks. Britvic expanded globally through acquisitions, including Tango, R. Whites, Robinsons, Ebba, and Bela Ischia. Although Britvic competes against Coca-Cola across over 50 countries, it relies on the UK market.
The company generated £956 million in the UK in 2021. The company manufactures PepsiCo’s Pepsi, 7UP, and Mountain Dew in Ireland and Great Britain. Britvic is a worthy Coca-Cola competitor in the UK market. [15]
13. Anheuser-Busch InBev (AB InBev)
Year founded: 2008
Headquarter: Leuven, Belgium
AB InBev is a Belgian multinational beverage company that manufactures soft drinks and beers. The company was founded after Anheuser-Busch merged with Brazilian brewer Ambev. In 2021, Ambev’s revenues increased 25% to R$72.85 billion. The AB InBev company has an annual revenue of over $50 billion. [16]
AB InBev operates worldwide via a global functional management office in New York City and regional headquarters. In 2021, the company announced plans to create a more dynamic non-alcoholic beverage that addresses emerging social trends.
The new product will help the company retain customers who seek to cut back or give up alcohol as the sober–curious movement grows globally. AB InBev is one of the top Coca-Cola competitors. [17]
14. Suntory Beverage and Food Limited
Year founded: 1899
Headquarter: Tokyo, Japan
Suntory was founded as a wine production company but later expanded to whiskey, beer, food, and non-alcoholic drinks. Its beverage portfolio includes Lucozade, Ribena, Pure V, Just Juice, Toby’s Estate, Mocopan, Amplify, and OVI. In 2021, Suntory had around 40,210 employees. The company makes over $20 billion in revenue annually.
Suntory competes against Coca-Cola across the beverage sector, from energy drinks to coffees, juices, and bottled water. The company partnered with PepsiCo to grow its business in America.
In Dec 2021, Suntory was named on the CDP Water Security A-List for the sixth time. This honor recognizes Suntory’s water conservation efforts through “Mizu To Ikiru,” a promise to society to preserve nature and the environment. Suntory is one of the top competitors for Coca-Cola in the beverage market. [18]
15. Davide Campari-Milano
Year founded: 1860
Headquarter: Sesto San Giovanni, Italy
Davide Campari-Milano is an Italian beverage company that trades as Campari Group. It operates in the branded beverage industry and produces spirits, wines, and non-alcoholic aperitifs. In 2021, Campari Group had around 4,000 employees and generated $2.7 billion in revenue.
Campari’s non-alcoholic aperitifs compete against Coca-Cola’s mixers and sparkling soft drinks, such as Coke, Sprite, and Fanta. The company has recorded solid results in consecutive years.
In 2020, Campari’s sales increased by 20.5% over 2019. The Italian beverage giant reported 25.6% revenue growth in 2021. The reopening of entertainment joints globally boosted the results of Campari’s mixology-centric brands and core aperitifs in the US, Italy, and Canada. Campari is the best alternative to Coca-Cola for high-end non-alcoholic soft drinks. [19]
16. Jacobs Douwe Egberts (JDE)
Year founded: 2015
Headquarter: Amsterdam, Netherlands
JDE is a Dutch beverage manufacturer. The company was formed after Douwe Egberts merged with the coffee division of Mondelez International. In 2021, JDE had around 10,000 employees and generated $7.16 billion in revenue.
JDE is listed on the Euronext Amsterdam SE and offers tea and coffee products in more than 80 countries. It owns several beverage brands, including Jacobs, Tassimo, L’OR, Cafe Pele, Douwe Egberts, Bravo, Prima, and Tea Forte.
On May 19, 2022, JDE sponsored the Oxfordshire Apprenticeship Awards. JDE is a global coffee and tea company, while Coca-Cola is the world’s most valuable soft drink brand. Both operate in the beverage industry. JDE is one of the best alternatives to Coca-Cola for teas and coffees in Europe. [20]
17. Carlsberg
Year founded: 1847
Headquarter: Vesterbro, Copenhagen, Denmark
Carlsberg is a Danish multinational brewer that owns alcoholic and non-alcoholic beverage brands. The company sells its products in more than 150 countries globally. In 2021, Carlsberg had 40,010 employees and made $9.86 billion in revenue.
Carlsberg is renowned globally for its beers. However, the company has zero alcohol drinks for most of its top-selling brands, including 1664, Kronenbourg, Tuborg, and Somersby. Tuborg Soda, Dahls, Soda Lao Tigerhead, and Ringnes Julebrus compete against Coca-Cola’s soft drinks.
In Oct 2020, the company expanded its non-alcoholic beverages and launched an alcohol-free beer with Brooklyn Brewery. This alcohol-free beer now accounts for 30% of Brooklyn’s sales in the UK. Carlberg is now a direct competitor for Coca-Cola. [21]
18. Asahi Group Holdings, Ltd.
Year founded: 1889
Headquarter: Sumida City, Tokyo, Japan
Asahi Group is a Japanese beverage company that offers beer, spirits, soft drinks, and foods. The company was founded as a beer brewer in Osaka, Japan, and expanded into the soft drink and food business. In 2021, Asahi Group had 29,850 employees and generated 2 trillion Japanese yen ($15 billion) in revenue. [22]
Asahi Group is a leading player in the Japanese beer industry. But the company also offers soft drinks like Coca-Cola.
As of Jan 2021, Asahi had a market value of $19.61 billion and ranked 925th world’s largest beverage company. Asahi Group is one of the top Coca-Cola competitors in the beverage market.
19. McDonald’s
Year founded: 1948
Headquarter: San Bernardino, California
McDonald’s is the world’s largest fast-food chain. The chain offers ice creams, shakes, juices, bottled water, and soft drinks. In 2021, McDonald’s had 375,000 employees and generated $23.2 billion in revenue. [23]
McDonald’s serves branded beverages from Coca-Cola, PepsiCo, and other competitors. But it also makes several products in-house, including juices, ice creams, and drinks, which can poach some customers from Coca-Cola. With over 39,000 locations globally, McDonald’s is a formidable Coca-Cola competitor.
20. AG Barr PLC
Year founded: 1875
Headquarter: Cumbernauld, Scotland
AG Barr, aka Barr’s, is a Scottish soft drink manufacturer. The company is listed on the London Stock Exchange and sells its products globally. In 2021, AG Barr had around 1,000 employees and reported an 11.2% drop in revenue to £227 million. [24]
AG Barr produces some of the UK’s leading soft drink brands, including Irn-Bru, Rubicon, Barr Flavors, and Funkin Cocktails. But the company is best known for manufacturing the Irn-Bru drink. AG Barr is one of the top alternatives to Coca-Cola for soft drinks in the UK.
References & more information
- EFA Editor (2022, Feb 15). The Coca-Cola Company “resists” 2021 uncertainties. EFA News
- Saibil, J. (2022, Apr 29). Can Coca-Cola Sustain Its Recovery in 2022? The Motley Fool
- Katz, P. (2022, Feb 10). PepsiCo reports $79.47B in revenues and $11.1B in operating profit. Westfair Online
- Kalogeropoulos, D. (2022, May 2). Why PepsiCo Can Still Afford to Send Investors $8 Billion in 2022. The Motley Fool
- Nestlé SA (2022, Feb 17). Nestlé reports full-year results for 2021. Globe Newswire
- Mondelez International, Inc. (2022, Jan 27). Mondelez Reports Fourth Quarter and Full-Year 2021 Results. Mondelez Press
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- Hockett, M. (2022, Feb 17). Kraft Heinz Scored Big Profits in 2021, But Q4 Results Show Challenges. Food Manufacturing
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- Editorial (2022, Mar 31). ABEV Financial Summary. Investing.com
- Crawford, E. (2022, Jan 10). AB InBev seizes opportunity in non-alcoholic beverages as the sober-curious movement grows. Food Navigator
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- Dingwall, K. (2022, Feb 25). Campari Group Reports Strong Double-Digit Growth in 2021. Forbes
- Lynch, S. L. (2022, Feb 25). Introducing Jacob Douwe Egberts (JDE), Oxfordshire Apprenticeship Awards 2022 Sponsor. Oxfordshire
- Milne, R. (2020, Oct 18). Carlsberg accelerates its push into booze-free brews. FT
- Diep, C. (2022, Mar 14). Asahi Group Holdings’ revenue FY 2012-2021. Statista
- McDonald’s Corp (2022, Jan 27). McDonald’s Reports Fourth Quarter and Full Year 2021 Results. PRNewswire
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- Featured Image by Laura Chouette
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