Coca-Cola is the largest non-alcoholic soft drink beverage company which with operates in a global scale. The company is known for its wide range of carbonated soft drinks, still beverages, packaged water, ready to consume dairy products, and many more. The soft drinks sector has shown prominent growth over the years, especially in non-carbonated drinks segment. The industry has been valued at USD 667.38 billion in 2020, and is expected to grow in the next 5 years with a CAGR of 6.5%. Moreover, the average per capita consumption has increased over the years, especially in the US market. These industry trends have proven to be quite beneficial for the market players to foster growth and expansion. In order to establish a strong foothold in the market, the companies have adopted aggressive marketing mix strategies, which poses as a competitive threat from Coca-Cola. Even though Coca-Cola is the industry leader, it faces steep competition from other players and can have a strong impact on its business venture. To help you with your college essay, we have identified and discussed about all the top competitors of Coca-Cola.
Your professional essay on competitors of Coca-Cola must include PepsiCo, which is the most dominant rival of Coca-Cola. Just like Coca-Cola, Pepsi offers a wide range of soft drink beverages, which ranges from carbonated beverages, packaged drinking waters to flavored juice-based products. It is the second largest soft drinks company right after Coca-Cola, with a market share of 24.1% in the domestic market. It should be noted that even through Coca-Cola is the market leader, PepsiCo has a much wider range of products to offer. While Coca-Cola only focuses on offering soft drink beverages, PepsiCo also offers a range of ready-to-eat packaged snacks, along with their soft drinks. Both the companies have often engaged in ambush marketing to get an upper hand in terms of brand image. The aggressive marketing has often created a steep competitive environment in the market.
Red Bull is the largest and most popular energy drink brand in the world. Even though the energy drinks category of beverages is slightly different from that of carbonated soft drinks, but the core value offering is identical. Both Red Bull and Coca-Cola seeks to offer a distinguished beverage experience to the consumers, while focusing on the product attributes. Red Bull has managed to create a strong brand image in the market, by using unique brand mascots and advertisements that makes the brand extremely memorable for the audience. Moreover, Red Bull advertises its products as a performance enhancer and not just a refreshment beverage. This as a result has enabled the company to create a strong differentiation in the market. Just like Coca-Cola Red Bull appeals to the mass consumers, and not a specific niche market like Gatorade. This approach has allowed the company to cater to a much larger customer base, thereby earning high revenue.
Keurig Dr Pepper (previously known as Dr Pepper Snapple) is a producer and distributor of non-alcoholic beverages in US, Canada and Mexico. It may not have the global presence like Coca-Cola, but it has a strong presence brand awareness in the home country. Some of the most popular brands of Keurig Dr Pepper are Dr. Pepper, Canada Dry, 7UP, Crush, etc. The key differentiator of Dr. Pepper comes from its unique and authentic blend of 23 flavors, which is inimitable by any other companies in the market. This creates a strong exclusivity for the brand, and offers a unique consumption experience for the customers. Moreover, Keurig Dr Pepper owns a number of different brands under three key sectors, such as Coffees, Flavored Soft Drinks, and Teas and Waters. The diversified brand portfolio allows Keurig Dr Pepper to cater to a much wider customer base, meet a wide variety of consumer needs. It should be noted that this company offers the same range of product categories as Coca-Cola, thereby posing a serious threat in every front. However, the global presence of Coca-Cola and access to a much bigger customer base enables the company to leverage higher economies of scale for its revenue generation.
Apart from the direct competitors like Pepsi and Dr Snapple, Coca-Cola also faces significant threat from indirect competition. It should be noted while writing papers in college, that Coca-Cola faces steep competition from Nestlé Waters, which is the largest packaged drinking water company. It poses significant threat to the packaged water division of Coca-Cola. Nestlé Waters operates with 48 different brands of Water, which makes it quite challenging for Coca-Cola to create as strong foothold in the packaged water industry.
Before your start your paper without our assignment help, let us summarize this article for you. Despite of being the largest soft drinks manufacturing and marketing company, Coca-Cola faces a steep competition from various market players. PepsiCo is the most dominant and direct competitor to Coca-Cola, which offers almost identical value proposition to the customers. Apart from PepsiCo, other companies like Red Bull, Keurig Dr Pepper and Nestlé Waters also pose significant threats to Coca-Cola, as they operate in the same product categories as the soft drink giant.
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