Segments :: The Coca-Cola Company (KO)

Geographic Segments

Click on each geographic segment to learn more.

View Our Bottling Investments

Consolidated Segments Overview

FY25 Unit Case Volume

33.8B

FY25 Net Revenues*

$48.1B

FY25 Operating Income*

$15.0B

*Comparable (non-GAAP); Net revenues percentages were calculated excluding amounts for Corporate and Eliminations. Operating income percentages were calculated excluding Corporate expense. All numbers reflect full year 2025.

Expand each geographic segment below to learn more about The Coca-Cola Company.

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North America

North America, The Coca-Cola Company’s flagship market, includes finished goods, chilled juice and dairy, and foodservice businesses, with a combined industry retail value of ~$405 billion.

Market Landscape

$19.6B

2025 TCCC Net Revenues*
(40% of Total)

$5.9B

2025 TCCC Operating Income*
(36% of Total)

*Comparable (Non-GAAP)

Key Bottlers

Industry and TCCC Share

FY25 Industry Value By Category ^(a)

~$405B

FY25 TCCC Value Share

Category	Percentage
Sparkling Soft Drinks	~50%
Juice, Value-Added Dairy & Plant-Based	~20%
Water, Sports, Coffee & Tea^(b)	~20%
Energy	~35%
Hot Beverages	<5%
Emerging^(c)	<5%

(a) Retail value of categories in which TCCC strategically participates;

(b) Excludes Hot Beverages;

(c) Emerging category represents Alcohol Ready-to-Drink Beverages

Source for industry retail value is internal estimates

FY25 Unit Case Volume Mix by Country

Region	Percentage
United States	95%
Canada	5%

Unit Case Volume by Category

FY25 Unit Case Volume Mix by Category

FY25 Unit Case Volume Growth by Category

Category	Percentage
Trademark Coca-Cola	(1%)
Sparkling Flavors	(1%)
Water, Sports, Coffee and Tea	0%
Juice, Value-Added Dairy and Plant-Based Beverages	(2%)

Financial Growth

Organic Revenue Growth ^(a)

Year	Amount
2023	7%
2024	11%
2025	4%

Comparable Currency Neutral Operating Income Growth ^(a)

Year	Amount
2023	15%
2024	14%
2025	10%

(a) Non-GAAP

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Latin America

The Coca-Cola Company’s Latin America segment includes 40 markets and an industry retail value of ~$135 billion.

Market Landscape

$6.4B

2025 TCCC Net Revenues*
(13% of total)

$3.8B

2025 TCCC Operating Income*
(23% of total)

*Comparable (Non-GAAP)

Key Bottlers

Industry and TCCC Share

FY25 Industry Value By Category ^(a)

~$135B

FY25 TCCC Value Share

Category	Percentage
Sparkling Soft Drinks	>50%
Juice, Value-Added Dairy & Plant-Based	~25%
Water, Sports, Coffee & Tea^(b)	~30%
Energy	~40%
Hot Beverages	<5%
Emerging^(c)	~5%

(a) Retail value of categories in which TCCC strategically participates;

(b) Excludes Hot Beverages;

(c) Emerging category represents Alcohol Ready-to-Drink Beverages

Source for industry retail value is internal estimates

FY25 Unit Case Volume Mix by Country

Region	Percentage
Mexico	43%
Brazil	25%
Argentina	6%
Chile	4%
Colombia	4%
Peru	3%
Guatemala	2%
Bolivia	2%
Ecuador	2%
Other	9%

Unit Case Volume by Category

FY25 Unit Case Volume Mix by Category

FY25 Unit Case Volume Growth by Category

Category	Percentage
Trademark Coca-Cola	(1%)
Sparkling Flavors	(2%)
Water, Sports, Coffee and Tea	1%
Juice, Value-Added Dairy and Plant-Based Beverages	1%

Financial Growth

Organic Revenue Growth ^(a)

Year	Amount
2023	22%
2024	25%
2025	10%

Comparable Currency Neutral Operating Income Growth ^(a)

Year	Amount
2023	24%
2024	31%
2025	17%

(a) Non-GAAP

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Europe, Middle East and Africa

The Coca-Cola Company’s Europe, Middle East & Africa segment features ~120 markets with ~$450 billion in industry retail value across three operating units.

Market Landscape

$11.5B

2025 TCCC Net Revenues*
(23% of total)

$4.3B

2025 TCCC Operating Income*
(26% of total)

*Comparable (Non-GAAP)

Key Bottlers

Industry and TCCC Share

FY25 Industry Value By Category ^(a)

~$450B

FY25 TCCC Value Share

Category	Percentage
Sparkling Soft Drinks	>50%
Juice, Value-Added Dairy & Plant-Based	~10%
Water, Sports, Coffee & Tea^(b)	~10%
Energy	~25%
Hot Beverages	<5%
Emerging^(c)	~10%

(a) Retail value of categories in which TCCC strategically participates;

(b) Excludes Hot Beverages;

(c) Emerging category represents Alcohol Ready-to-Drink Beverages

Source for industry retail value is internal estimates

FY25 Unit Case Volume Mix by Country

Region	Percentage
United Kingdom	11%
South Africa	7%
Germany	7%
Turkiye	6%
Nigeria	5%
Spain	5%
France	3%
Egypt	3%
Pakistan	3%
Other	50%

FY25 Unit Case Volume Mix by Operating Unit

Operating Unit	Percentage
Europe	48%
Eurasia and Middle East	25%
Africa	27%

Unit Case Volume by Category

FY25 Unit Case Volume Mix by Category

FY25 Unit Case Volume Growth by Category

Category	Percentage
Trademark Coca-Cola	2%
Sparkling Flavors	3%
Water, Sports, Coffee and Tea	2%
Juice, Value-Added Dairy and Plant-Based Beverages	(4%)

Financial Growth

Organic Revenue Growth ^(a)

Year	Amount
2023	16%
2024	12%
2025	6%

Comparable Currency Neutral Operating Income Growth ^(a)

Year	Amount
2023	24%
2024	13%
2025	7%

(a) Non-GAAP

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Asia Pacific

The Coca-Cola Company’s Asia Pacific segment features 37 markets and an industry retail value of ~$520 billion across four operating units.

Market Landscape

$5.7B

2025 TCCC Net Revenues*
(12% of total)

$2.1B

2025 TCCC Operating Income*
(13% of total)

*Comparable (Non-GAAP)

Key Bottlers

Industry and TCCC Share

FY25 Industry Value By Category ^(a)

~$520B

FY25 TCCC Value Share

Category	Percentage
Sparkling Soft Drinks	>50%
Juice, Value-Added Dairy & Plant-Based	~5%
Water, Sports, Coffee & Tea^(b)	~10%
Energy	~5%
Hot Beverages	<5%
Emerging^(c)	<5%

(a) Retail value of categories in which TCCC strategically participates;

(b) Excludes Hot Beverages;

(c) Emerging category represents Alcohol Ready-to-Drink Beverages

Source for industry retail value is internal estimates

FY25 Unit Case Volume Mix by Country

Region	Percentage
China	34%
India	21%
Japan	12%
Philippines	9%
Thailand	5%
Australia	4%
South Korea	3%
Viet Nam	2%
Indonesia	2%
Other	8%

FY25 Unit Case Volume Mix by Operating Unit

Operating Unit	Percentage
Greater China and Mongolia	36%
ASEAN and South Pacific	25%
India and Southwest Asia	23%
Japan and South Korea	16%

Unit Case Volume by Category

FY25 Unit Case Volume Mix by Category

FY25 Unit Case Volume Growth by Category

Category	Percentage
Trademark Coca-Cola	1%
Sparkling Flavors	(3%)
Water, Sports, Coffee and Tea	3%
Juice, Value-Added Dairy and Plant-Based Beverages	(6%)

Financial Growth

Organic Revenue Growth ^(a)

Year	Amount
2023	5%
2024	3%
2025	5%

Comparable Currency Neutral Operating Income Growth ^(a)

Year	Amount
2023	-5%
2024	5%
2025	5%

(a) Non-GAAP

Bottling Investments

The Coca-Cola Company’s Bottling Investments segment includes all of our consolidated bottling operations, regardless of geographic location.

Map of the world with all continents filled in with grey. Geographic areas in which refranchising has been completed are colored in with red and areas with a company-owned bottler are filled in with blue. Current markets for company-owned bottlers include Africa, India, Malaysia, Myanmar, Nepal, Oman, Singapore, and Sri Lanka. Bottling investments comprised 13% of net revenues in 2024 vs. 52% in 2015. (Bottling investments net revenues as a percentage of total company revenues).

Company-Owned Bottler

Current Markets

Africa^(a)
India
Malaysia
Myanmar
Nepal
Oman
Singapore
Sri Lanka

Bottling Investments Comprised 12% of Net Revenues^(b) in 2025 vs. 52% in 2015

(a) Comprises the geographic markets of Coca-Cola Beverages Africa (CCBA); In October 2025, the Company entered into a definitive agreement to sell a portion of our interest in CCBA. Closing is subject to various regulatory approvals and is expected by the end of 2026, upon which we will deconsolidate CCBA.

(b) Bottling Investments net revenues as a percentage of total Company net revenues

Segment Non-GAAP Reconciliations

View the reconciliation of Non-GAAP Financial Measures for more information.

View Reconciliation