Investor Relations

Coca-Cola System

The World's Largest Beverage Distribution System

At The Coca-Cola Company, we market, manufacture, and sell beverage concentrates, syrups, and finished beverages, including sparkling soft drinks, water, sports drinks, juice, value-added dairy, plant-based drinks, tea, and coffee.

We make our branded beverage products available to consumers in more than 200 countries and territories through our network of independent bottling partners as well as consolidated bottling and distribution operations who manufacture, package, merchandise, and distribute the finished branded beverages to our customers and vending partners.

The Coca-Cola Company and its bottling partners are collectively known as the Coca-Cola system. The Coca-Cola Company does not own, manage or control most local bottling companies.

How We Operate

1 The Coca-Cola Company and its bottling partners are collectively known as the Coca-Cola system.
The Coca-Cola Company does not own, manage or control most local bottling companies.

Concentrate Operations

In our concentrate operations, both domestic and international, we sell beverage concentrates, sometimes referred to as “beverage bases”, syrups, and certain finished beverages to authorized bottling partners.

Finished Product Operations

Our finished product operations consist primarily of consolidated bottling, sales and distribution operations, such as selling sparkling soft drinks and a variety of other finished beverages to retailers or to distributors and wholesalers who distribute them to retailers.

Bottling Partners

Depending on the product, our bottling partners combine our concentrates with still or sparkling water, and/or sweeteners to prepare, package, sell and distribute the finished beverages.

Our Five Largest Independent Bottling Partners

In 2022, these five bottling partners combined represented 42 percent of our total unit case volume:

  • Coca-Cola FEMSA, serving Latin America
  • Coca-Cola Europacific Partners plc (CCEP), serving Western Europe, Australia, Pacific and Indonesia
  • Coca-Cola HBC AG (Coca-Cola Hellenic), serving Eastern Europe and Northern Africa
  • Arca Continental, serving Latin America and parts of North America
  • Swire Beverages, serving Asia and parts of North America

The Coca-Cola System in Context

Our business operates within a wider context, which we carefully and continuously consider by managing our impacts, aiming to create shared opportunity as we transform into a total beverage company.



We understand that our short- and long-term success depends on a wide range of inputs, which include:

  • Consumer, customer, and stakeholder insights
  • Raw materials such as water, ingredients, energy, and packaging from our many suppliers
  • The talents and passion of our global workforce and system employees
  • Financial resources
  • Recycled and reusable materials
  • And reinvestment opportunities


As a result, we create a range of outcomes including:

  • Diverse beverage products
  • Economic development such as jobs, taxes paid, and community investment
  • Community and ecosystem impact and initiatives
  • And customer and shareowner value.