Coca-Cola’s Revenue by Segment (2016-2022)

This statistic highlights Coca-Cola’s Revenue by Segment from 2016 onwards, split between the Asia Pacific (APAC), Bottling Investments, Corporate, Europe, Middle East & Africa, Latin America, and North America.

Coca-Cola’s Revenue by Segment

(All figures in millions, except percentages)

The Coca-Cola Company generates revenue from four geographical segments: Asia Pacific, Europe, Middle East & Africa (EMEA), Latin America, and North America; and from two non-geographical segments, including Bottling Investments and Corporate.

Asia Pacific

In the Asia Pacific region, Coca-Cola generates a majority of revenue from China and Mongolia. It also operates in countries like India, Singapore, Pakistan, Japan, South Pacific, South Korea, Southwest Asia, etc. In this region, Coca-Cola serves over 4 billion consumers across 32 markets. Key bottlers in this region are Swire, COFCO, and BIG. In Q1 2021, Coca-Cola’s revenue from this region grew by 24% year-over-year from $1.13 billion in Q1 2020 to $1.4 billion in Q1 2021. In the Asia Pacific region, Coca-Cola’s unit case volume grew by 9% in Q1 2021 in products like Trademark Coca-Cola, sparkling flavours, nutrition, juice, dairy, and plant-based beverages. 

Europe, Middle East & Africa (EMEA)

In the EMEA region, Coca-Cola operates in countries like United Kingdom, Germany, Italy, France, Switzerland, Bulgaria, Finland, Hungary, Saudi Arabia, South Africa, Turkey, and UAE. In this region, Coca-Cola serves approximately 2.8 billion consumers through 130 markets. Key bottlers in this region are Hellenic Bottling Company and İçecek. In Q1 2021, Coca-Cola generated $1.62 billion that is 18% of the total revenue from the EMEA region. However, revenue from this region declined by 6% from $1.73 billion in Q1 2020. The decline in revenue was due to a decline in demand for Coca-Cola’s hydration drink, sports drink, coffee, and tea.

Latin America

In Latin America, Coca-Cola operates in countries like Brazil, Chile, and Mexico. The Latin America group has 39 markets that are primarily developing and emerging markets with more than 650 million consumers. Key bottlers in Latin America region are Femsa S.A.B. de C.V., Solar Coca-Cola, Arca Continental, and Embotelladora Andina. Coca-Cola witnessed a decline in revenue by 2% from $930 million in Q1 2020 to $909 million in Q1 2021 in this region. The decline in revenue was primarily due to a decline in unit case volume in Mexico and Brazil for products like sports drinks, coffee, tea, dairy, and plant-based beverages.

North America.

Coca-Cola’s flagship market, North America, offers finished goods, juice, and foodservice businesses and serves over 370 million consumers. Key bottlers in North America are Reyes Coca-Cola Bottling, L.L.C., Swire, Coca-Cola Bottling Company United, Liberty Coca-Cola Beverages, LLC, Great Lakes Coca-Cola, etc. In Q1 2021, Coca-Cola generated 33% of revenue amounting to $2.94 billion. Revenue from this region has grown by 3% year-over-year from $2.85 billion in Q1 2020.

Bottling Investments

Consumers can buy a Coke can or bottle from the supermarket or a vending machine, or they can fill up a cup at a quick-serve restaurant or gas station. Coca-Cola generates a majority of its revenue from bottles and cans which is called “finished products,” which it distributes through its Bottling Investments Group. Bottling Investments Group is a division of Coca-Cola dedicated to investing in Coca‑Cola bottling operations worldwide. It helps to accelerate growth in important markets, provides venture capital, and amend structural or ownership tasks. Currently, it operates in 19 countries and strives to maintain a balance between franchise and Company-owned bottlers in the system. In Q1 2021, Coca-Cola generated 22% of total revenue from bottling investments amounting to $1.9 billion. In Q1 2021, revenue from this segment grew by 14% year-over-year from $1.66 billion in Q1 2020.

Corporate

Coca-Cola’s operating structure also comprises Corporate which includes: (1) a centre focused on strategic initiatives, governance as well as policy-making; and (2) an organization focused on simplifying and standardizing transactional processes and also providing support to business units. In this segment, Coca-Cola witnessed a decline of 45% year-over-year growth from $31 million in Q1 2020 to $17 million in Q1 2021.

Company Overview

The Coca-Cola Company is an American-based company established in 1892 by John Stith Pemberton. Its headquarters is in Atlanta, Georgia. The Coca-Cola Company completed its initial public offering in 1919 and its common stocks are traded on the New York Stock Exchange under the trading symbol “KO”.

It is a nonalcoholic beverage company that manufactures, markets, and sells roughly 500 beverages like sparkling soft drinks, water, sports drinks, enhanced water, dairy & plant-based beverages, juice, tea, coffee, and energy drinks. Various brands under Coca-Cola are Diet Coke, Coca-Cola Zero, Minute Maid, Georgia, Fanta, Sprite, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Bonaqua, Gold Peak, Dasani, Simply, Glaceau Vitaminwater, Fuze Tea, Glaceau Smartwater, and Ice Dew. It serves customers in more than 200 countries worldwide. Some of the major competitors of Coca-Cola are Keurig Dr Pepper, Tropicana, PepsiCo, Britvic, Red Bull, Fever-Tree, Monster Beverage Corporation, etc.

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