Segments :: The Coca-Cola Company (KO)

Geographic Segments

Click on each geographic segment to learn more.

View Our Bottling Investments

Consolidated Segments Overview

FY24 Unit Case Volume

33.7B

FY24 Net Revenues*

$46.9B

FY24 Operating Income*

$14.1B

*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 2024.

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 ~$390 billion.

Market Landscape

$18.9B

2024 TCCC Net Revenues*
(39% of Total)

$5.4B

2024 TCCC Operating Income*
(34% of Total)

*Comparable (Non-GAAP)

Key Bottlers

Industry and TCCC Share

FY24 Industry Value By Category ^(a)

~$390B

FY24 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

FY24 Unit Case Volume Mix by Country

Region	Percentage
United States	95%
Canada	5%

Unit Case Volume by Category

FY24 Unit Case Volume Mix by Category

FY24 Unit Case Volume Growth by Category

Category	Percentage
Trademark Coca-Cola	1%
Sparkling Flavors	1%
Water, Sports, Coffee and Tea	(4%)
Juice, Value-Added Dairy and Plant-Based Beverages	3%

Financial Growth

Organic Revenue Growth ^(a)

Year	Amount
2022	13%
2023	7%
2024	11%

Comparable Currency Neutral Operating Income Growth ^(a)

Year	Amount
2022	17%
2023	15%
2024	14%

(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 ~$130 billion.

Market Landscape

$6.4B

2024 TCCC Net Revenues*
(13% of total)

$3.9B

2024 TCCC Operating Income*
(24% of total)

*Comparable (Non-GAAP)

Key Bottlers

Industry and TCCC Share

FY24 Industry Value By Category ^(a)

~$130B

FY24 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

FY24 Unit Case Volume Mix by Country

Region	Percentage
Mexico	44%
Brazil	24%
Argentina	5%
Chile	4%
Colombia	4%
Peru	3%
Guatemala	2%
Bolivia	2%
Ecuador	2%
Other	10%

Unit Case Volume by Category

FY24 Unit Case Volume Mix by Category

FY24 Unit Case Volume Growth by Category

Category	Percentage
Trademark Coca-Cola	5%
Sparkling Flavors	(1%)
Water, Sports, Coffee and Tea	2%
Juice, Value-Added Dairy and Plant-Based Beverages	0%

Financial Growth

Organic Revenue Growth ^(a)

Year	Amount
2022	24%
2023	22%
2024	25%

Comparable Currency Neutral Operating Income Growth ^(a)

Year	Amount
2022	19%
2023	24%
2024	31%

(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 ~$410 billion in industry retail value across three operating units.

Market Landscape

$10.9B

2024 TCCC Net Revenues*
(23% of total)

$4.2B

2024 TCCC Operating Income*
(26% of total)

*Comparable (Non-GAAP)

Key Bottlers

Industry and TCCC Share

FY24 Industry Value By Category ^(a)

~$410B

FY24 TCCC Value Share

Category	Percentage
Sparkling Soft Drinks	>50%
Juice, Value-Added Dairy & Plant-Based	~10%
Water, Sports, Coffee & Tea^(b)	~10%
Energy	~20%
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

FY24 Unit Case Volume Mix by Country

Region	Percentage
United Kingdom	11%
Germany	7%
South Africa	7%
Turkiye	6%
Spain	5%
Nigeria	5%
France	4%
Pakistan	3%
Egypt	3%
Other	49%

FY24 Unit Case Volume Growth by Operating Unit

Operating Unit	Percentage
Europe	0%
Eurasia and Middle East	(2%)
Africa	3%

Unit Case Volume by Category

FY24 Unit Case Volume Mix by Category

FY24 Unit Case Volume Growth by Category

Category	Percentage
Trademark Coca-Cola	(1%)
Sparkling Flavors	0%
Water, Sports, Coffee and Tea	2%
Juice, Value-Added Dairy and Plant-Based Beverages	(4%)

Financial Growth

Organic Revenue Growth ^(a)

Year	Amount
2022	17%
2023	16%
2024	12%

Comparable Currency Neutral Operating Income Growth ^(a)

Year	Amount
2022	14%
2023	24%
2024	13%

(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 ~$510 billion across four operating units.

Market Landscape

$5.5B

2024 TCCC Net Revenues*
(12% of total)

$2.1B

2024 TCCC Operating Income*
(13% of total)

*Comparable (Non-GAAP)

Key Bottlers

Industry and TCCC Share

FY24 Industry Value By Category ^(a)

~$510B

FY24 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

FY24 Unit Case Volume Mix by Country

Region	Percentage
China	33%
India	21%
Japan	12%
Philippines	9%
Thailand	6%
Australia	4%
South Korea	3%
Viet Nam	2%
Indonesia	2%
Other	8%

FY24 Unit Case Volume Growth by Operating Unit

Operating Unit	Percentage
Greater China and Mongolia	(5%)
ASEAN and South Pacific	4%
India and Southwest Asia	7%
Japan and South Korea	4%

Unit Case Volume by Category

FY24 Unit Case Volume Mix by Category

FY24 Unit Case Volume Growth by Category

Category	Percentage
Trademark Coca-Cola	3%
Sparkling Flavors	4%
Water, Sports, Coffee and Tea	(4%)
Juice, Value-Added Dairy and Plant-Based Beverages	0%

Financial Growth

Organic Revenue Growth ^(a)

Year	Amount
2022	12%
2023	5%
2024	3%

Comparable Currency Neutral Operating Income Growth ^(a)

Year	Amount
2022	10%
2023	-5%
2024	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 13% of Net Revenues^(b) in 2024 vs. 52% in 2015

(a) Comprises the geographic markets of Coca-Cola Beverages Africa (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