Investor Relations

Latin America

~520 Million Consumers Across 39 Markets

~520 Million Consumers Across 39 Markets

The Coca-Cola Company’s Latin America segment includes 39 markets (primarily developing and emerging) with approximately 520 million consumers and an industry retail value of ~$72 billion.


~520 million consumers

~$72 billion in industry retail value

~49% value share

Organic Revenue Growth (Non-GAAP)

Comparable Currency Neutral Operating Income Growth (Non-GAAP)

Key Bottlers

Coca-Cola FEMSA
Coca-Cola SOLAR BR
Arca Continental
Coca-Cola Andina

The Power of Quality Leadership

Watch Alfredo Rivera, former president of the Latin America segment, speak about the power of quality leadership.

2021 Unit Case Volume by Category

Value Share Position


Sparkling Soft Drinks


Juice, Dairy & Plant




Tea & Coffee



2021 Highlights

  • We gained value share in total NARTD beverages and across nearly all categories
  • LATAM volumes were ahead of 2019 levels each quarter of 2021, and sequentially improved throughout the year.
  • Continued adoption of refillables throughout region across new categories, with juice refillables up over 50% YoY.
  • Increased focus on digital execution during the year with B2B revenues up over 300%.
  • Recycling efforts like Mi Tienda Sin Residuos in Mexico and Movimiento Re in Colombia helped gather more than 45,000 kg of PET during 2021.

Quality Leadership in Action

Driving Competitive Edge with Continued Success in Refillables

Refillable packages have been a long-standing element of our business in Latin America. As a system, we have been investing in refillable packages (both glass and PET) for a number of years to grow our consumer base while contributing to a packaging circular economy and also lowering our carbon footprint. We are continuing to invest in our packaging mix to ensure it is optimized and creating value for our system and our customers across the region.

In conjunction with our Q4 2021 results, we also established an ambitious target for 25% of our global volume to be delivered through refillable solutions. We have spent years within the LATAM region educating the consumer on reusable solutions and building the necessary commercial relationships while innovating a common packaging with the “Universal Bottle”. These sustained efforts, coupled with our leading portfolio of brands and leverageable insights from our experience in LATAM gives us the confidence to expand the refillable footprint globally.