Coca-Cola Boston Consulting Group Matrix

Coca-Cola's Juice, Value-Added Dairy, and Plant-Based Beverages segment demonstrated robust performance, capturing increased value share in 2024. This category experienced 1% growth in the first quarter of 2025, with notable strength in the Asia Pacific region.

The continued success of Fairlife, a value-added dairy brand, highlights Coca-Cola's ability to cater to evolving consumer preferences for healthier and more varied beverage choices. This strategic focus on premium and functional dairy products is a key driver of growth.

Coca-Cola's expansion into plant-based beverages further strengthens its presence in this dynamic and expanding market. As the number one global player in juice, the company leverages its established distribution network and brand recognition to capitalize on these high-growth segments.

Coca-Cola Zero Sugar continues to be a standout Star, demonstrating high market share in the growing low-sugar beverage segment. Its unit sales saw a healthy 14% increase in Q1 2025 and an 11% rise in Q3 2024, reflecting strong consumer demand across all regions.

The energy drink category, with a 30% volume surge in fiscal year 2024, is another key Star, driven by brands like Monster and Predator, especially in emerging markets. Similarly, BODYARMOR, a leading sports drink, is a Star, with new product innovations like POWERADE Xtra Sour planned for 2025.

Coca-Cola's Juice, Value-Added Dairy, and Plant-Based Beverages segment, which grew 1% in Q1 2025, also represents a Star category, boosted by brands like Fairlife and the company's strong position in the global juice market.

Emerging markets, showing robust volume increases in India, China, and Brazil in Q1 2025, are critical growth areas for Coca-Cola, leveraging rising disposable incomes and per capita consumption.

Fanta embodies a classic Cash Cow for Coca-Cola, boasting a significant market share in the mature sparkling beverage sector. Its consistent performance, evidenced by a 2% growth in sparkling flavors during Q1 2025, underscores its reliable revenue generation capabilities.

The brand's enduring global popularity and extensive distribution network solidify its position as a stable income producer. This means Fanta continues to contribute significantly to Coca-Cola's overall financial health without requiring substantial new investment.

Coca-Cola's core cola brands, including Classic and Diet Coke, are its quintessential Cash Cows. In 2024, they captured 44.9% of the U.S. carbonated soft drink market, showcasing immense brand loyalty and global recognition that translate into stable, substantial cash flows. These products require minimal promotional investment, allowing Coca-Cola to maximize profitability by consistently leveraging their established market dominance.

Sprite, holding an 8.03% U.S. market share in 2025, also functions as a strong Cash Cow. Its consistent performance in the flavored sparkling beverage market generates reliable revenue without the need for heavy reinvestment, solidifying its role as a profit driver.

Fanta, with a 2% growth in sparkling flavors during Q1 2025, exemplifies a classic Cash Cow. Its enduring global popularity and extensive distribution ensure stable income generation, contributing significantly to Coca-Cola's financial health.

Dasani, a leader in the bottled water segment which grew 3% in Q1 2025, is a dependable revenue generator. Its high market share in a mature, stable industry, coupled with strong brand recognition, makes it a key Cash Cow.

Minute Maid, a dominant force in the global juice market, consistently generates substantial revenue. Its strong brand equity and diverse offerings allow Coca-Cola to focus investment on brand maintenance and incremental innovation, rather than large-scale expansion, ensuring continued profitability.

Despite Coca-Cola's strategic acquisition of Costa Coffee, the company's CEO is reportedly rethinking its coffee strategy. This reevaluation stems from underperformance in certain segments, with global coffee demand projected to decline by 0.5% in 2025.

In the first quarter of 2025, coffee sales experienced a 2% unit case volume decline. This downturn was primarily attributed to falling demand in the Asia Pacific and EMEA regions.

These struggling segments within Costa Coffee’s portfolio, particularly those not generating sufficient returns and facing declining demand, can be categorized as Dogs in the BCG Matrix.

Coca-Cola Spiced, launched in February 2024, quickly became a prime example of a 'Dog' within Coca-Cola's product portfolio, failing to gain traction with its intended Gen Z demographic and leading to its discontinuation after just six months.

Legacy niche sparkling flavors, like the former Orange Vanilla Coca-Cola, also likely represent 'Dogs' due to low market share in slow-growing segments, with Coca-Cola Orange Cream replacing it in 2025.

Struggling segments within Costa Coffee, especially those with declining demand, such as the 2% unit case volume decline in Q1 2025, are also categorized as Dogs.

Localized brands with diminishing relevance in mature or declining markets, coupled with specific packaging formats with low demand and production inefficiencies, are further examples of 'Dogs' that Coca-Cola strategically phases out to optimize its portfolio.

Coca-Cola is actively expanding its portfolio into high-growth 'still beverage' categories, notably functional drinks and plant-based alternatives, aiming to diversify beyond its core carbonated soft drink brands. This strategic move targets evolving consumer preferences driven by health and wellness trends, a significant market shift observed globally.

For instance, the global functional beverages market was valued at approximately $128.1 billion in 2023 and is projected to reach $204.6 billion by 2030, demonstrating robust growth potential. Similarly, the plant-based milk market, a key area for dairy alternatives, saw significant expansion, with sales in the US alone exceeding $2.5 billion in 2023.

While these segments represent promising opportunities, many individual products or newer ventures within Coca-Cola's functional and plant-based drink offerings are still in their early stages of market penetration. These nascent brands often require substantial investment in research and development, alongside aggressive marketing campaigns, to establish brand recognition, build consumer loyalty, and achieve scalable market share against established competitors.

Coca-Cola's ventures into new flavor profiles, such as Sprite + Tea and the anticipated Coca-Cola Orange Cream, are positioned as potential Stars. These innovations aim to capture consumer interest in novel taste experiences and the growing trend of flavor fusions.

While these products represent significant growth opportunities, they are currently in their early stages with low market share, requiring substantial marketing and promotional investment. The success of these flavor experiments is not guaranteed and depends on consumer acceptance.

Coca-Cola's expansion into functional and plant-based beverages also falls into the Star category. These segments are experiencing robust growth, with the functional beverages market valued at approximately $128.1 billion in 2023.

However, these newer ventures require considerable investment in R&D and marketing to build brand recognition and achieve scalable market share against established competitors.