Coca-Cola and Pepsi Dominate Non-Alcoholic Drinks Market

Coca-Cola has once again secured its position as the world’s most valuable non-alcoholic drinks brand, according to a new report by brand valuation consultancy, Brand Finance. The brand’s value has risen by 5% to $35 billion, maintaining its lead in the industry. Additionally, Coca-Cola remains the strongest brand in the sector, holding the only AAA+ brand strength rating, with its Brand Strength Index (BSI) score climbing 0.8 points to 90.4 out of 100.

Coca-Cola’s success is attributed to its memorable marketing efforts, including the widely celebrated 2023 Christmas advertisement, “The World Needs More Santas.” The brand’s strategic marketing investments throughout the 2023 financial year, along with collaborations and innovative product launches like the “space-flavoured” cola and its ready-to-drink canned cocktail with Jack Daniel’s, have reinforced its market dominance.

Pepsi, Coca-Cola’s closest competitor, has also seen significant growth, with its brand value increasing by 10% to $20.2 billion, securing second place in the rankings. Other carbonated soft drinks in the top 10 include Dr Pepper, which ranks seventh with an 8% increase in brand value to $4.8 billion, and Sprite, in eighth place with a 9% rise to $4.5 billion.

Nongfu Spring has emerged as the brand with the highest percentage growth, doubling its brand value by 102% to $8.3 billion. The brand’s success is largely driven by its expansion in the ready-to-drink (RTD) tea market, particularly with its popular Oriental Leaf product, which has gained traction on social media platforms like Weibo.

In the 2024 Sustainability Perceptions Index, Coca-Cola leads the non-alcoholic drinks sector with the highest Sustainability Perceptions Value (SPV) at $5.2 billion. Pepsi follows closely with the highest positive gap value of $212 million among the brands in the rankings, highlighting their efforts in addressing sustainability concerns.