The competition between The Coca-Cola Company and PepsiCo in the soft drink category in the United States continues, although the former is increasingly outpacing the latter.
PepsiCo is a leading global company in the food and beverage industry. Currently, the organization operates in more than 200 countries with a strong international presence. Its portfolio includes iconic brands such as Lay’s, Doritos, Gatorade, Pepsi, Quaker, and SodaStream. Organized into six main segments, the company generated net revenue of $93,925 million in 2025, representing year-over-year growth of 2 percent.
Competition Between The Coca-Cola Company and PepsiCo
Many of PepsiCo’s convenience products hold prominent leadership positions in the convenience products sector, both in the United States and globally.
In 2025, PepsiCo and The Coca-Cola Company accounted for 16% and 20%, respectively, of the carbonated soft drink category in the United States—based on retail sales estimates in analyzed channels—according to Information Resources, Inc.
By way of comparison, in 2022, PepsiCo’s share was 20% based on that same metric. At that time, The Coca-Cola Company’s market share stood at 21 percent.
In addition, The Coca-Cola Company holds a significant market share advantage in the carbonated beverage category in many markets outside the United States.
Research and Development Centers
PepsiCo’s research centers are located in various parts of the world, including countries such as Brazil, China, India, Ireland, Mexico, Russia, South Africa, the United Kingdom, and the United States. These global facilities fully leverage in-depth consumer insights.
They also combine food science with cutting-edge engineering. In this way, they support the corporate strategy aimed at continuously innovating its food and beverage portfolio.
In many of the countries where PepsiCo’s products are sold, including the United States, The Coca-Cola Company is its main competitor in the beverage segment.
Other prominent competitors in the beverage and convenience food sectors include major global corporations such as Nestlé S.A., Mondelēz International, Inc., The Kraft Heinz Company, Conagra Brands, Inc., and The Campbell’s Company. The list also includes specialized firms such as Hormel Foods Corporation, Link Snacks, Inc., Mars, Incorporated, Primo Brands Corporation, and Utz Brands, Inc. Finally, major players such as Keurig Dr Pepper Inc., Monster Beverage Corporation, and Red Bull GmbH are actively involved in the beverage segment.