Growth Strategy

Driving Balanced Growth Across our Total Beverage Portfolio

Delivering for a Decade… Preparing for What’s Next

No matter how you slice it – by consumer, by customer, by beverage category, by geography — we have vast opportunities ahead of us. In developed markets, which comprise approximately 20% of the global population, The Coca-Cola Company has significant headroom to gain share from competitors. In developing and emerging markets, which comprise approximately 80% of the global population, nearly 70% of people do not consume any commercial beverages. In these markets, The Coca-Cola Company has a significant opportunity to develop the beverage industry from the ground up. We believe both the scale of the Coca-Cola system and our growth mindset are key differentiators to satisfy the evolving daily needs of people throughout the world.

The Coca-Cola Company's charts and metrics including Capture Untapped Industry, Attract More Consumers, and Win New Customers. The footnotes follow the charts and metrics

(a) #1 in customer value creation from 2017-2025, Nielsen; (b) Non-GAAP; (c) 2025 industry volume and KO share per internal estimates; (d) Coca-Cola Trademark, Hawkeye study findings, excluding China and India; (e) Baskets that contain a KO NARTD product, Kantar Q3 2025

Scaling our Total Beverage Portfolio with Increased Local Edge

The power of our portfolio, amplified by our system’s unique capabilities – demonstrated by our global franchise operating model that combines the benefits of scale with deep local market intimacy – is a clear advantage to win in the marketplace. Our mindset is to continuously improve every aspect of how we do business, and we take a consumer-centric and customer-focused viewpoint to all critical business decisions. We are focused on the following growth pillars: shaping a portfolio of loved brands; transforming our marketing and innovation agenda; optimizing the Coca-Cola ecosystem; building talent and capabilities; and enhancing our license to win. Moving forward, we intend to prioritize getting closer to consumers; remaining constructively discontented; and placing digital at the core of our connections with consumers, customers and across our system.

We remain committed to driving balanced growth across our total beverage portfolio and delivering on our purpose to refresh the world and make a difference. Our growth strategy is fueled by our topline flywheel, which contains four distinct nodes: Marketing, Innovation, Revenue Growth Management (RGM), and Integrated Execution.

Click on a node below to learn more.

Accelerating Our Strategic Growth Flywheel

Click on each flywheel icon to learn about how we fuel our topline growth.

Marketing

Great marketing begins with human insights – understanding what the consumer wants, making a superior-tasting product, and telling a brand’s story in a relatable way by leveraging consumer passion points. We then use these insights to craft a powerful portfolio across beverage categories on a global scale that is tailored to local consumer needs.

We operate with a networked marketing model that integrates product, digital, live and retail experiences and harnesses passion points to reach consumers in personalized ways. To recruit the next generation of drinkers and ensure long-term growth, we have shifted our marketing approach from a TV-centric to a digital-first model that balances local market intimacy, scale and flexibility. Our digital mix has gone from less than 30% in 2019 to more than 65% of our total media spend in 2025, which has transformed our marketing capabilities and is allowing us to create ideas faster, more effectively, and at a lower cost.

Our marketing transformation continues to focus on deeper consumer connections through digital engagement, personal experiences and cultural relevance. For example, in 2025 our partnership with Universal Pictures and Blumhouse brought Fanta’s Halloween campaign to life across approximately 50 markets, featuring immersive retail activations and digital experiences.

Innovation

Our innovation framework complements our work to build great brands and focuses on prioritizing bigger and bolder bets. Each of our innovations has a clear objective and goes beyond just new flavors and brands to include products, packages and equipment. In 2025, innovation contributed strongly to revenue growth, and we continued to have strong velocities on our innovation. Introducing bold innovations aimed at increasing shelf space and attracting consumers also remains a focus. Examples in 2025 included (in designated markets around the world) Coca-Cola with U.S. cane sugar, Sprite + Tea, Bacardi Mixed with Coca-Cola, Cappy Bubble, and BODYARMOR Flash I.V.

Revenue Growth Management (RGM)

RGM is a key commercial capability that focuses on identifying revenue pools (where to play) and revenue growth strategies (how to win). Our company continues to exemplify leadership in RGM by utilizing our full suite of RGM capabilities to better tailor our brand-price-package architecture to consumers’ and customers’ needs. In 2025, we led the beverage industry in customer value creation for the eighth consecutive year.

Integrated Execution

Our success as a company depends on a harmonized system in which our bottlers can grow and thrive in the marketplace. Our system is step-changing execution by fully integrating our marketing and commercial plans, investing heavily in digital capabilities and sticking to the fundamentals of commercial excellence to accelerate consumer recruitment, increase consumption and win in the market.

Ensuring product availability is one of our system's greatest strengths, yet we still have tremendous opportunity in this area. While our brands are found in ~33 million outlets across the world, there remains ample headroom to increase outlet coverage, reduce out-of-stock inventory and better tailor our offerings with the right placements.

Basket incidence is another opportunity. To drive basket incidence, our system is focused on better activating integrated marketing campaigns in key channels, increasing point-of-sale displays and winning impulse zones outside the traditional beverage aisle.

Finally, cold-drink equipment is one of the strongest consumption drivers in our system’s toolbox with ~14 million units of cold-drink equipment present in our ~33 million customer outlets. We have significant opportunity to drive additional consumption of our beverages by placing more cold-drink equipment in customer outlets across the world.