going hand in hand for their continued global expansion.

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Despite the impact of Covid-19 pandemic, the beverage industry giants such as Nestle and Starbucks
Corporation are going hand in hand for their continued global expansion.

From AB InBev to Asahi Group Holdings, Drinks Insight Network lists the top ten beverage companies in
2020, based on 2019 revenues, and details the Covid-19 impact on their operations.

Biggest drinks companies: Top ten by revenue

Anheuser-Busch InBev- $52.3bn

The Coca Cola Company- $37.3bn

Nestle-$31.5bn

Pepsico- $30.8bn

Starbucks Corporation- $26.9bn

Heineken- $26.7bn

Fomento Economico Mexicano-$26.7bn

Suntory Holdings- $23.5bn

Diageo-$16.8bn

Asahi Group Holdings-$11.5bn

1. Anheuser-Busch InBev – $52.3bn

Top ten drinks companies in 2020

AB InBev earned a total revenue of $52.3bn in 2019. Credit: Anheuser-Busch InBev.

Anheuser-Busch InBev (AB InBev) is the world’s biggest brewing company with total revenue of $52.3bn
in 2019. Its revenues grew by 4.3% compared with the previous year.

The total production volume of the company was 561.4 million hectolitres (Mhl) in 2019. With more
than 80 offerings to cater to different occasions, the no-alcohol and low- alcohol beer (NABLAB) of the
company accounted for approximately 7.0% of its global beer volume in 2019.

The global brands of the company Budweiser®, Corona®, and Stella Artois® delivered strong revenue
growth of 8% outside their home markets in the US, Mexico and Belgium, respectively.

The Covid-19 pandemic restrictions, however, impacted the global brands and the total revenue of the
company. AB InBev’s revenue declined by 12% in the first half of 2020 compared to the corresponding
period in 2019.

Headquartered in Belgium, AB InBev operates 260 breweries. The company has a workforce of
approximately 170,000 and presence in more than 50 countries worldwide.

2. The Coca-Cola Company – $37.3bn

Top ten drinks companies in 2020

The retail value of Coca Cola in sparkling soft drinks segment increased by 6% worldwide in 2019. Credit:
The Coca Cola Company.

The Coca-Cola Company reported $37.3bn in revenues in 2019, an increase of 9% compared to the
previous year.

The increasing portfolio of the company with contribution from both sparkling and non-sparkling
offerings led to its revenue growth.

In sparkling segment, the retail value of Coca-Cola increased by 6% globally, attributed to its innovative
offerings such as Coca-Cola Plus Coffee.
Due to the Covid-19 pandemic, the company’s net revenues declined by 9% in the third quarter of 2020.
However, the business saw a steady recovery compared with the previous quarter, attributed to the
company’s right brand portfolio, impactful marketing, innovation and strong organisational structure.

Based in the US, The Coca-Cola Company offers more than 500 brands to consumers in over 200
countries. The company offers diverse beverage portfolio such as water, enhanced water, sparkling soft
drinks, sports drink, juice, dairy, tea, coffee and energy drinks. The non-alcoholic sparkling soft drink
brands of the company include Coca-Cola, Diet Coke, Fanta and Sprite.

3. Nestle – $31.5bn

Top ten drinks companies in 2020

Nestle’s Starbucks products earned more than $308.9m in revenue in 2019. Credit: Shanti Hesse /
Shutterstock.

Nestle generated net revenues of $95.3bn in 2019, of which the powdered and liquid beverages and
water segments accounted for $31.5bn.

Nestle’s existing coffee portfolio was extended with the launch of a new line of coffee products under
the Starbucks brand in February 2019. The Starbucks products generated a revenue of more than
$308.9m in 2019 and are currently sold in more than 40 countries.

The strong demand for the Starbucks products, Coffee-mate and Nescafé contributed to the high sales in
beverage category in 2019.

In the first half of 2020, the company had to incur an expense of $305.6m due to Covid-19, including
bonuses to front-line workers, employee safety measures, donations and other related allowances.
Nestle incurred an additional $126.4m due to the idle staff and facilities during the lock-down
restrictions.

Based in Switzerland, Nestle is a food and drinks company with 291,000 employees worldwide. Some of
its key brands include Nestle Pure Life, Perrier, Poland Spring in Bottled water segment, Nescafe Classic,
Nescafe Decaff, Nescafe Dolce Gusto, Nescafe Gold in coffee segment.
4. Pepsico – $30.8bn

Top ten drinks companies in 2020

Pepsico generated $30.8bn in revenue from its beverage portfolio in 2019. Credit: Pepsico.

Pepsico earned net revenue of $67.1bn in 2019, up 4% compared to the previous year.

The company’s beverage portfolio contributed to $30.8bn of the total revenue, which accounted for 46%
of the net revenues in 2019. The remaining 54% was contributed by the food portfolio.

The Covid-19 outbreak did not impact the company significantly, primarily due to the resilience in its
snacks and food business globally. The pandemic, however, moderately impacted global beverage sales.

Based in the US, Pepsico is a food and beverage company that serves consumers in more than 200
countries. It employs approximately 267,000 people worldwide. The top global beverage brands of the
company are Pepsi, Pepsi Black, Mountain Dew, Tropicana, Lipton, Aquafina, 7Up, Mirinda, Brisk, Sierra
Mist and Gatorade.