The cola wars between Coca-Cola and Pepsi have long defined the global soft drinks industry. The two market leaders have continuously reshaped the carbonated drinks business through product innovation and marketing, leading to intense competition and unusually high levels of brand loyalty.
However, digitisation and changing consumer preferences are leading to structural shifts in cola carbonates, setting up a new showdown between the market leaders as they need to rethink where and how to play.
E-commerce gains strategic importance amid shifts in traditional cola consumption
Improving health consciousness and price inflation are impacting traditional cola consumption. Global off-trade value sales of cola carbonates are expected to grow by 4% during 2024, following 10% growth in 2023. Volume sales decline in several mature markets is a key factor contributing to this slowdown in value sales growth.
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