Top 11 Coca-Cola Competitors & Alternatives in 2024

Coca-Cola competitors include top Soft Drink Brands like Pepsi, Red Bull, Dr Pepper, Tropicana, Nescafe and Lipton. Coca-Cola has both – Direct competitors and Indirect competitors. We list them with statistics in this comprehensive Competitor research of Coca-Cola.

Coca-cola is one of the most respected brands in the world and it has long warded off the competition with the use of a strong distribution strategy and equally strong marketing messages. Coca-cola has over a period of time used positive marketing to the best of its advantage and has rarely been involved in negative marketing (which Pepsi does frequently).

In this article, We will be considering Coca-cola as an individual drink and not considering Coca-cola as a brand which has many sub-brands and products under it.  The ranking is mainly on the basis of brand valuation of the individual brands.

So which are the Top Coca-Cola competitors? Let’s find out

Direct competitors – Other soft drinks and energy drinks

1) Pepsi

• Product Type: Soft drinks, snack foods, and other beverages.
• Industry: Food and beverage.
• Founded: 1893, in New Bern, North Carolina, United States.
• Founder: Caleb Bradham.
• Headquarters: Purchase, New York, United States.
• Area served: Worldwide.
• Current CEO:  Kirk Tanner
• Revenue: $22.322B (June 30, 2023)
• Market cap: $245.28B (August 18, 2023)
• Number of employees: 315,000 (2022)

Without a doubt one of the strongest coca cola competitors is Pepsi. One of the reasons these brands fight tooth and nail is because both of them are very strong in their distribution and have excellent marketing and sales policies. As a result, you will find that the maximum market share is of these 2 brands – be it any country.

We love the rivalry between Coke and Pepsi so much, that we wrote an article on the top ads showing the rivalry between Coke and Pepsi

PepsiCo was formed in 1965 with the merger of the Pepsi-Cola Company and Frito-Lay, Inc. The company’s headquarters were relocated to its current location of Purchase, New York, in 1970. PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world.

PepsiCo operates in four business units: PepsiCo Americas Foods, PepsiCo Americas Beverages, PepsiCo Europe, and PepsiCo Asia, Middle East, and Africa. These units are comprised of six reportable segments. PepsiCo’s product line consists of carbonated soft drinks and convenience snacks, as well as “good-for-you” products, including Quaker Oats, Naked Juice, and Tropicana orange juice. PepsiCo’s product portfolio includes 23 brands that generate more than $1 billion over five years.

PepsiCo net income for the quarter ending June 30, 2023 was $2.748B. PepsiCo gross profit for the quarter ending June 30, 2023 was $12.201B. As of August 2023 Pepsico has a market cap of $245.28 Billion. This makes Pepsico the world’s 34th most valuable company by market cap.

2) Red Bull

• Product Type: Energy drink.
• Industry: Beverages.
• Founded: 1987
• Founders: Dietrich Mateschitz and Chaleo Yoovidhya.
• Headquarters: Fuschl am See, Austria.
• Area served: Worldwide.
• Current CEO: Dietrich Mateschitz.
• Revenue: 1.67 billion U.S. dollars (U.S sales in 2022)
• Brand value: USD 18.5 billion dollars (2022)

Red Bull gives you wings, quite literally!! Red Bull is one of the strongest growing energy drink/sports drink and is amongst the strongest direct coca cola competitors in terms of brand valuation. The popularity of Red Bull is because of a wide adoption in the pub culture where Red Bull can be mixed in various drinks. Its taste is stronger and loved by Red Bull drinkers.

Red Bull is another brand which is known for its strong distribution channel. It was one of the first entrants to popularize energy drinks to such a massive audience (Gatorade is targeted towards sports whereas Red bull is targeted towards the masses). Interestingly, amongst the top 6 direct competitors of Coca-cola, Red bull is the only one not manufactured by Coca-cola or Pepsi. It is owned by an Australian company Red Bull GmbH.

Red Bull has a product portfolio that includes energy drinks, sugar-free drinks, and organic drinks.

A total of 11.582 billion cans of Red Bull were sold worldwide in 2022, representing an increase of 18,1% against an already very successful 2021. Group turnover was up 23,9% from EUR 7.816 billion to EUR 9.684 billion.As of the end of 2022, Red Bull employed 15,779 people in 175 countries. In 2022, Red Bull had an estimated brand value of 16.96 billion euros, up from roughly 16 billion the year prior.

3) Diet Coke / Diet Pepsi

• Product Type: Diet soda.
• Industry: Beverages.
• Founded: 1982, in the United States.
• Founder: John Sculley.
• Headquarters: Atlanta, Georgia, United States.
• Area served: Worldwide.
• Current CEO: James Quincey

The diet soft drink market is fast rising, especially with at least a 1000 videos and blog articles bombarding people about the sugar content in traditional soft drinks such as Coca-Cola and Pepsi. As a result, Diet Coke and Diet Pepsi both are being replaced and being consumed instead of regular coke and Pepsi.

If we had to rank further, Diet coke will rank much higher then Diet Pepsi in terms of market penetration and in terms of Brand valuation as well.

4) Fanta

• Product Type: Fruit-flavored carbonated soft drink.
• Industry: Beverages.
• Founded: 1940,
• Headquarters: Atlanta, Georgia, United States.
• Area served: Worldwide.

Again a sub-brand of the Coca-Cola company and one of the most widely loved fruit-flavored carbonated drink. If you want a break from cola’s which are black colored, you would do well with the various tastes of Fanta.

Today, there are more than 200 flavors of Fanta worldwide, with different sugar contents and ingredients depending on the country. In Mexico, Fanta is made with sugar, whereas the US version uses high fructose corn syrup. In the UK, the sugar content was reduced in 2017 to 4.6%. Fanta is owned by The Coca-Cola Company and is the second oldest brand of Coca-Cola after Coca-Cola itself.

Fanta is also known for a differentiated marketing message in each of the countries which it operates in. But the target message is always towards “freshness”

5) Sprite

• Product Type: Clear lemon-lime flavored carbonated soft drink.
• Industry: Beverages.
• Founded: 1959, in West Germany.
• Founder: T. C. “Bud” Evans.
• Headquarters: Atlanta, Georgia, United States.
• Area served: Worldwide.
• Current CEO: James Quincey

Sprite originally started as a competitor to 7 up but it has ended up being a large market share holder of soft drinks market and although it is from the house of Coca-Cola, it is one of the strong coca cola competitors in the market. Sprite’s clear formula has helped the brand amass an excellent fan following and it has captured the market which previously belonged to Limca or 7 Up. Sprite has followed Thums Up’s footsteps in becoming the second billion-dollar beverage brand under Coca-Cola’s portfolio.

Sprite comes in various flavors, including cranberry, cherry, grape, orange, tropical, ginger, and vanilla. Sprite majorly targets the youth and talks of being a brand with a no bullshit – clear message. This is obviously a pun because Sprite is a soft drink which is clear in color and is transparent in nature.

6) Gatorade

• Product Type: Sports drink.
• Industry: Beverages.
• Founded: 1965, in Florida.
• Founders: Dr. Robert Cade, Dana Shires, Alejandro de Quesada, and Richard J. Anderson.
• Headquarters: Chicago, Illinois, United States.
• Area served: Worldwide.
• Current CEO: Matt Wolf.

Gatorade uses Science to come up with its various formulae and targets mainly sports and athletes for its drink. It has various nutrients, each of which can be applied to different sports activities – such as drinking before the game, drinking within the game or drinking after it. Calories, proteins, and various nutritional value facts are included in the packaging of the product so that the athlete has a complete knowledge of what he is drinking. Gatorade is currently manufactured by PepsiCo and is distributed in over 80 countries. Gatorade (brand value up 26% to US$5.3 billion) was the fastest-growing brand in the non-alcoholic drinks sector in 2022.

According to Brand Finance Most Valuable Soft Drinks By Brand Finance, Gatorade is the 7th most valuable soft drink brand in the world and hence is a competitor for coca cola especially in the calorie conscious and energy desiring sports market. If you want to be lean and fit, it is much more likely that you will opt for Gatorade instead of something like Coke or Pepsi.

7) Dr Pepper (Dr Pepper Snapple)

• Product Type: Carbonated soft drinks, juices, teas, mixers, and coffee.
• Industry: Beverages.
• Founded: 1985
• Founders: Charles Alderton (Dr Pepper), Charles Leiper Grigg (Seven Up).
• Headquarters: Plano, Texas, United States.
• Area served: Worldwide.
• Current CEO: Robert F. (Tito) Beveridge (2018–present).
• Revenue: $3.789B (June 30, 2023)
• Market cap: $47.16B (August 18, 2023)
• Number of employees: 28,000 (2022)

The 7^th coca cola competitor is another one in this list which is not from the house of Coca-Cola or Pepsi. Dr Pepper Snapple Group has a combination of some well-known brands such as 7 up and RC Cola. Amongst these, the flagship product which is the strongest coca cola competitor is Dr Pepper itself.

Dr Pepper comes in various flavors and in fact, is known and loved for its unique taste. The brand is distributed in many countries but has a major market penetration in the US, from where it derives its brand valuation. It is also known for its smart marketing and use of slogans, due to which it has survived and thrived for long against the likes of Coca-cola and Pepsi.

Keurig Dr Pepper net income for the quarter ending June 30, 2023 was $0.503B. Keurig Dr Pepper gross profit for the quarter ending June 30, 2023 was $2.041B.

8) Mountain dew

• Product Type: Citrus-flavored carbonated soft drink.
• Industry: Beverages.
• Founded: 1940, in Marion, Virginia, United States.
• Founder: Barney and Ally Hartman.
• Headquarters: Purchase, New York, United States.
• Area served: Worldwide.
• Current CEO: Ramon Laguarta.

Mountain dew is a clear carbonated drink from the house of Pepsico. Mountain dew is known for its clear beverage worldwide but it also has a lineup known as Kickstart.

Between mountain dew and kickstart, the brand has 40 flavors in the market, all of them lined up for competition against the standard colas. Mountain dew lags behind Sprite because of the massive distribution advantage which sprite has being from the house of coca cola.

There are many other direct competitors of coca cola and the list is endless. There are many regional players as well. However, besides the direct coca cola competitors, we would also like to include 3 indirect and equally strong coca cola competitors. They are as follows

Indirect coca cola competitors.

9) Lipton

• Product Type: Tea, ready-to-drink beverages, and food products.
• Industry: Food and beverage.
• Founded: 1890, in the United Kingdom.
• Founder: Sir Thomas Lipton.
• Headquarters: London, England.
• Area served: Worldwide.
• Current CEO: Nathalie Roos

Most prominently known for its green tea and various flavors of tea, Lipton is the number one competitor for coca cola brand especially in tea drinking nations like UK, India, China, and others. As people are getting more health conscious, they are turning towards the tea providers which are brands such as Lipton. Lipton has its own café’s as well to fulfill the demand of its target markets.

Lipton is the world’s best-known and biggest-selling branded tea, and one of the major icons in Unilever’s global foods portfolio.

Lipton offers a variety of tea types, including black, green, herbal, fruit, matcha, and benefit-led teas. Lipton teas are a blend selected from many different plantations around the world, from well-known producing countries including Sri Lanka, India, Kenya, and China. Lipton Yellow Label is blended from about 20 different teas.

As of 2022, the British tea brand had a brand value of roughly 10.57 billion U.S. dollars.

10) Nescafe

• Product Type: Instant coffee.
• Industry: Food and beverage.
• Founded: 1938, in Switzerland.
• Founder: Max Morgenthaler.
• Headquarters: Vevey, Switzerland.
• Area served: Worldwide.
• Current CEO:  Mark Schneider

Some people love tea and others love Coffee. The USA itself is a major coffee drinking nation and so are many others. And in Coffee, the one brand which has the top mindshare is Nescafe. Nescafe is without a doubt a very strong coca cola competitor because of its superb taste and fantastic distribution.

Nescafe is a product from the brand Nestle. Nestle is known for various brands like Maggi, cerelac, various breakfast cereals and whatnot. As a result, Nescafe has a distribution setup which is even larger then Coca-cola because of the simple reason that Nescafe is also sold in medical shops besides being sold in groceries or other markets.

11) Tropicana

• Product Type: Fruit juices, juice drinks, and smoothies.
• Industry: Food and beverage.
• Founded: 1947, in Bradenton, Florida, United States.
• Founder: Anthony T. Rossi.
• Headquarters: Fort Lauderdale, Florida, United States.
• Area served: Worldwide.

Would you like to replace your carbonated beverage with Juice so that you can be healthier and have a drink which is far less in sugar and has a lot of natural elements to boost your immune system? I am sure you would prefer one above the other. This is what is happening in the market and hence Tropicana’s range of natural juices is strong rising as a go-to drink for people who don’t want caffeinated or carbonated beverages.

Although preservatives are used in Tropicana as well, the marketing has been done beautifully and many of their drinks actually taste like the fruit they stand for. In fact, this author favorite beverage is the mixed fruit drink from Tropicana. Because it is unique and has such a large flavor base, Tropicana is one of the strongest indirect coca cola competitors in the market.

12) Soylent

• Product Type: Meal replacement shakes and bars.
• Industry: Food and beverage.
• Founded: 2013, in Silicon Valley, California, United States.
• Founders: Rob Rhinehart, Matt Cauble, John Coogan, and David Renteln.
• Headquarters: Los Angeles, California, United States.
• Area served: Worldwide.
• Current CEO: Demir Vangelov.

Soylent is a meal replacement product that aims to provide complete nutrition in a convenient and sustainable way. Soylent products come in powder, shake, and bar forms. Soylent products are engineered to deliver complete plant-based protein, healthy fats, and other essential nutrients. Soylent supports sustainable agriculture and employs best practices to reduce its carbon footprint. Soylent products can be used to replace complete meals or to fill nutrition gaps as snacks or supplements.

Soylent was recognized as a 2023 Product of the Year USA award winner. According to a report from FoodNavigator USA, Soylent projected sales of $100 million in 2022, driven by solid double-digit growth and margins holding steady.

14) Nestle

• Product Type: Food and beverages, and healthcare.
• Industry: Consumer goods.
• Founded: 1866, in Vevey, Switzerland.
• Founder: Henri Nestlé.
• Headquarters: Vevey, Switzerland.
• Area served: Worldwide.
• Current CEO: Mark Schneider.
• Revenue: CHF 94.42 billion (2022)
• Number of employees: 275,000 (2022)

Nestlé is a Swiss multinational food and drink processing conglomerate corporation headquartered in Vevey, Vaud, Switzerland. It is the world’s largest, most diversified food and beverages company, with a unique global footprint and sells its products in more than 80 countries. Nestlé was established over 150 years ago, and its company history begins in 1866 with the foundation of the Anglo-Swiss Condensed Milk Company. Nestlé’s chief products include condensed and powdered milk, baby foods, chocolate products, candies, instant coffees and teas, soups, seasonings and condiments, frozen foods, ice cream, and bottled water. The company also produces pharmaceuticals. Nestlé markets its products under various brand names such as Nescafe, Kit Kat, Milo, and Purina, among others.

The company’s net income in 2022 was CHF 9.596 billion, which is a 45% decrease from the previous year. Nestlé’s profit margin in 2022 was 9.8%, which is a decrease from 19% in the previous year. The total number of employees in 2022 were 275,000

15) Mondelez International, Inc.

• Product Type: Snacks, confectionery, and beverages.
• Industry: Food and beverage.
• Founded: 2012
• Founders: Kraft Foods.
• Headquarters: Chicago, Illinois, United States.
• Area served: Worldwide.
• Current CEO: Dirk Van de Put.
• Revenue: $8.507B (June 30, 2023)

Mondelez International is a multinational company that manufactures and markets snack food and beverage products in over 150 countries around the world. The company’s purpose is to empower people to snack right by offering a range of delicious, high-quality snacks that nourish life’s moments.

The company’s product portfolio comprises snacks including cookies, crackers, and salted snacks, chocolate, candy, cheese, and grocery and beverages. Mondelez International markets products under iconic global and local brands such as Oreo, Ritz, LU, Clif Bar, and Tate’s Bake Shop biscuits and baked snacks, as well as Cadbury Dairy Milk, Milka, and Toblerone chocolate. The company was founded on October 1, 2012, and is headquartered in Chicago, Illinois, the US. Mondelez International operates a network of manufacturing facilities across the Americas, Asia, the Middle East and Africa, and Europe.

Mondelez International empowers people to snack right in over 150 countries around the world. Mondelez International employs approximately 91,000 diverse and talented employees in its factories, offices, research & development facilities, and distribution activities around the world. Mondelez net income for the quarter ending June 30, 2023 was $0.944B. As of August 2023 Mondelez has a market cap of $96.77B.

16) Nongfu Spring

• Product Type: Tea beverages, fruit juices, and other beverages.
• Industry: Beverages.
• Founded: 1996, in Hangzhou, Zhejiang province, China.
• Founder: Zhong Shanshan.
• Headquarters: Hangzhou, Zhejiang province, China.
• Area served: China, Hong Kong, Macau, and Southeast Asia.
• Current CEO: Zhong Shanshan.

Nongfu Spring is a Chinese bottled water and beverage company that was founded in 1996 by Zhong Shanshan. It is headquartered in Xihu District, Hangzhou, Zhejiang province, China. The company is the largest packaging water supplier in China, holding the number one spot for market share and is one of the top 20 beverage companies in China. Nongfu Spring has diversified its product base to include coffee and tea beverages, fruit products, yogurt, and rice. The company offers a full range of water products from its 10 natural water sources across China. Nongfu Spring is the third-largest soft drinks company in China and the market leader in the bottled water sub-segment with a 13.6% market share.

Nongfu’s revenue in 2022 was CNY 33.239 billion. Its Profit in 2022 was $1.1 billion. The number of employees in 2022 was 20,000. As of August 2023 Nongfu Spring has a market cap of $60.08 Billion.

17) Starbucks

• Product Type: Coffee, tea, pastries, and other food items.
• Industry: Foodservice.
• Founded: 1971, in Seattle, Washington, United States.
• Founders: Jerry Baldwin, Gordon Bowker, and Zev Siegl.
• Headquarters: Seattle, Washington, United States.
• Area served: Worldwide.
• Current CEO: Howard Schultz.
• Revenue: $9.168B (June 30, 2023)
• Market cap: $111.37B (August 18, 2023)
• Number of employees: 402,000 (2022)

Starbucks is a coffeehouse chain that was founded in 1971 in Seattle, Washington. Starbucks started as a small store in Seattle’s historic Pike Place Market, offering fresh-roasted coffee beans, tea, and spices from around the world. In 2022, there were 35,711 thousand Starbucks stores worldwide. The United States and China have the largest number of Starbucks stores globally.

Starbucks offers a variety of coffee drinks, teas, juices, pastries, and snacks, as well as merchandise such as mugs and tumblers. Starbucks has several brands, including Teavana, Starbucks Reserve, Princi, and Ethos. Starbucks is committed to investing in the health, well-being, and success of its employees, who are called partners.

Starbucks’ gross profit for the June 30, 2023, was $6.304B. Starbucks net income for the quarter ending June 30, 2023 was $1.142B. During the 2022 financial year, Starbucks generated a majority of its global revenue from beverage products which amounted to $19.56 billion.

18) Monster Beverage Corporation

• Product Type: Energy drinks, soft drinks, and other beverages.
• Industry: Beverages.
• Founded: 1985, as Hansen Natural Company.
• Founder: Hansen Natural Company was founded by John Cappelli and Rodney C. Sacks.
• Headquarters: Corona, California, United States.
• Area served: Worldwide.
• Current CEO: Hilton Schlosberg.
• Revenue: $1.855B (June 30, 2023)
• Market cap: $60.09B (August 18, 2023)
• Number of employees: 5,296 (2022)

Monster Beverage Corporation is a multinational beverage company based in Corona, California, United States. The company was founded as Hansen’s Juices in 1935 and has since then expanded to specialize in energy drinks, soft drinks, and alternative beverages. In 2012, the company changed its name to Monster Beverage Corporation and has been operating under this holding since then. The company’s subsidiaries develop and market energy drinks, including Monster Energy, Relentless, and Burn. Monster also owns Blue Sky Beverage Company, which manufactures several soft drinks. The company’s products are distributed worldwide, and it engages in the development, marketing, sale, and distribution of energy drink beverages and concentrates.

Monster Beverage’s global net sales amounted to nearly 6.3 billion U.S. dollars in 2022. Monster Beverage achieved record fourth quarter net sales of $1.51 billion for the 2022 fourth quarter, 6.2 percent higher than net sales for the previous year. Monster Beverage net income for the quarter ending June 30, 2023 was $0.414B. Monster Beverage operating income for the quarter ending June 30, 2023 was $0.524B.

Some of the popular energy drink brands under Monster Beverage Corporation are: Monster Energy, Monster Energy Ultra, Monster MAXX, Java Monster, Espresso Monster, Caffé Monster, Monster Rehab, Muscle Monster, Monster Hydro.

19) Danone

• Product Type: Dairy products, bottled water, and medical nutrition.
• Industry: Food and beverage.
• Founded: 1919, in Barcelona, Spain.
• Founder: Isaac Carasso.
• Headquarters: Paris, France.
• Area served: Worldwide.
• Current CEO: Antoine de Saint-Affrique.
• Revenue: €27.9b (2023)
• Number of employees: 96,166 (2022)
• Market cap: $39.34B (August 18, 2023)

Danone is a French multinational food-products corporation that operates in 130 countries with more than 100,000 employees worldwide. The company is dedicated to bringing health through food to as many people as possible and is built on four businesses: Essential Dairy and Plant-Based Products, Waters, Early Life Nutrition, and Medical Nutrition. Danone aims to inspire healthier and more sustainable eating and drinking practices, in line with its vision – Danone, One Planet. One Health – which reflects a strong belief that the health of people and the health of the planet are interconnected. Danone is one of the largest food and beverage companies in the world whose mission is to provide health to as many people as possible. The company offers fresh dairy products, bottled water, early life nutrition, and medical nutrition products.

Danone’s net sales reached €27,661m in 2022. According to Simply Wall St, Danone’s stock valuation in 2022 is €49.4 billion. Danone annual net income for 2022 was $1.01B.

20) Kraft Heinz Company

• Product Type: Food and beverage.
• Industry: Consumer packaged goods.
• Founded: 2015, through the merger of Kraft Foods and Heinz.
• Founders: Kraft Foods and Heinz.
• Headquarters: Chicago, Illinois, United States.
• Area served: Worldwide.
• Current CEO: Miguel Patricio.
• Revenue: $6.721B (June 30, 2023)
• Market cap: $41.34B (August 18, 2023)
• Number of employees: 37,000 (2022)

The Kraft Heinz Company is a global food and beverage producer that was formed in 2015 through the merger of Kraft Foods Group, Inc. and H.J. Heinz Holding Corporation. It is co-headquartered in Chicago and Pittsburgh. Kraft Heinz has an unparalleled portfolio of powerful and iconic brands, including Oscar Mayer, Oreo, Philadelphia cream cheese, Planters, and Maxwell House, among many others. The company is committed to growing its iconic and emerging food and beverage brands on a global scale.

Kraft Heinz net income for the quarter ending June 30, 2023 was $1.000B. Kraft Heinz gross profit for the quarter ending June 30, 2023 was $2.261B.

With 2022 net sales of approximately $26 billion, Kraft Heinz is the third-largest food and beverage company in North America and the fifth-largest in the world. The company operates 79 manufacturing and processing facilities, approximately 5,550 ingredient and packaging suppliers, approximately 210 external manufacturers.

Which other brand do you think can be a strong competitor for coca cola? Please mention in the comments below. Let’s have a discussion going.

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