Varun Beverages Business Model Canvas
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Unlock a concise Business Model Canvas: 3 value propositions, distribution strengths, revenue levers
Unlock Varun Beverages’s strategic blueprint with our concise Business Model Canvas—three key value propositions, distribution strengths, and revenue levers mapped for quick insight. Dive deeper: purchase the full, editable Canvas to access nine block analyses, financial implications, and actionable recommendations.
Partnerships
PepsiCo franchise
Exclusive bottling and distribution agreements with PepsiCo underpin Varun Beverages, granting access to iconic brands, concentrates, marketing guidelines and innovation pipelines; the franchise relationship feeds the company’s core revenue stream and product mix. Joint planning with PepsiCo synchronises capacity, pricing, activation and regulatory compliance, while performance standards and defined territory rights enforce execution discipline. PepsiCo reported roughly USD 86 billion in net revenue in 2024, underscoring scale of the brand ecosystem driving Varun’s volumes.
Packaging suppliers
Packaging suppliers for PET preforms, closures, crowns, labels, cartons and shrink-wrap are strategic partners ensuring uninterrupted supply; Varun uses long-term contracts to manage quality, sustainability specs and price volatility, co-developing lightweighting and recyclability improvements, while geographic vendor diversification reduces logistics and supply-risk across its operations.
Raw material partners
Suppliers of sugar, HFCS, CO2, water treatment chemicals and flavors form the backbone of Varun Beverages’ supply chain, with hedging and indexed contracts used to balance cost stability and market responsiveness.
Stringent quality protocols—raw material specs, supplier audits and HACCP/GMP alignment—protect product consistency and safety across SKUs and bottling lines.
Collaborative demand planning and vendor-managed inventory arrangements secure peak-season availability and reduce stockouts during high-demand periods.
Equipment & tech OEMs
RTM & retail network
As of 2024 Varun Beverages' RTM and retail network uses distributors, wholesalers, modern trade, QSRs, cinemas and e-commerce to extend nationwide reach; 3PL logistics partners augment primary and secondary freight while trade marketing agencies ensure in-store execution; seasonal manpower partners scale market coverage cost‑effectively.
- Distributors & wholesalers: core density
- Modern trade, QSRs, cinemas, e‑commerce: channel expansion
- 3PLs: primary + secondary freight
- Trade marketing agencies: POS execution
- Seasonal manpower: scalable coverage
Beverage network: USD 86B, 60+ plants, ~30% downtime
PepsiCo franchise supplies brands, concentrates and marketing (PepsiCo rev ~USD 86B in 2024); 60+ plants (2024) run with Krones/Sidel and telemetry (~30% downtime reduction); long-term packaging/ingredient contracts and 3PLs secure supply and national distribution.
| Partner | Key | 2024 |
|---|---|---|
| Franchise | PepsiCo | USD 86B |
| OEMs | Krones/Sidel | 60+ plants |
| Logistics | 3PLs/packaging | ~30% downtime cut |
What is included in the product
Detailed Word Document
A concise, investor-ready Business Model Canvas for Varun Beverages aligning its franchise bottling, beverage portfolio, distribution channels, and retail partnerships into 9 BMC blocks; details value propositions, customer segments, cost/revenue drivers, competitive advantages, and SWOT-linked insights for strategic planning and funding discussions.
Customizable Excel Spreadsheet
High-level editable one-page snapshot that condenses Varun Beverages' franchising, bottling and distribution strategy into a practical tool to relieve pain points like fragmented distribution, SKU complexity and slow strategic decision-making.
Activities
Bottling operations
Bottling operations cover blow-molding, filling, carbonation, pasteurization where applicable, and packaging with embedded strict QA/QC and food-safety protocols; focused line changeover strategies and OEE programs maximize throughput while preventive maintenance reduces downtime during peak seasons.
Route-to-market
Primary and secondary distribution move cases from plants to depots, distributors and retail, underpinning Varun Beverages’ reach across 27 Indian states and 18 international markets as the largest PepsiCo franchisee outside the US.
Beat planning and direct store delivery boost freshness and coverage, enabling high-frequency SKU rotation and faster shelf replenishment across urban and rural routes.
Strategic cooler placement guarantees cold availability at point-of-sale, supporting impulse purchase conversion and brand visibility.
Seasonal routing flexes to demand waves, reallocating fleet and depots during peak months to protect service levels and margins.
Demand planning
S&OP at Varun Beverages aligns forecasts with production capacity, procurement and inventory to support its role as the second-largest PepsiCo bottler outside the US in 2024. Weather, local events, exams and festivals are used to model demand spikes and shift distribution. SKU and pack-mix optimization balances price ladders to protect margins. Safety stocks and buffer capacity are maintained to mitigate short-term volatility.
Trade execution
- Visibility-led promotions
- Planogram compliance
- Outlet classification = targeted servicing
- Audits for execution quality
Procurement & hedging
Securing concentrates, sugar, PET and fuel at optimal cost is core to Varun Beverages, which reported consolidated revenue of INR 40,365 crore in FY2024, making procurement leverage critical for margins. Active hedging of sugar and fuel reduces commodity volatility and protects gross margins. Supplier performance management enforces quality, timely delivery and batch traceability. Sustainability criteria drive recycled-PET uptake and energy efficiency targets.
- Procurement focus: concentrates, sugar, PET, fuel
- Hedging: commodity volatility mitigation
- Supplier KPIs: quality & delivery
- Sustainability: rPET & resource efficiency targets
India bottling, distribution and exports drive INR 40,365 crore FY2024
Bottling, distribution, S&OP, trade execution and procurement are core activities driving Varun Beverages’ reach across 27 Indian states and 18 international markets; strict QA/QC, cooler deployment and seasonal routing protect service levels. Preventive maintenance, beat planning and outlet classification maximize throughput and sell-through. Procurement focus plus hedging supported margins through FY2024.
| Metric | Value | Note |
|---|---|---|
| Consolidated revenue (FY2024) | INR 40,365 crore | Reported |
| Indian presence | 27 states | Distribution network |
| International markets | 18 | Exports/franchise |
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Business Model Canvas
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Resources
Territory rights
Exclusive PepsiCo franchise rights across Varun Beverages' 27 states and 7 union territories in India form the backbone of its key resources, granting access to global brands and beverage concentrates. Contractual protections with PepsiCo stipulate pricing, quality standards and co‑marketing obligations. Expansion strategy depends on acquiring and consolidating additional territories to scale distribution and capex efficiently.
Bottling assets
Bottling assets—high-speed lines, blow-molders, fillers and utilities—constitute Varun Beverages’ core production backbone, ensuring scalable throughput and consistent SKUs. Warehouses and depots store raw materials and finished goods to support rapid replenishment across markets. Cold-chain assets and visicoolers improve sell-through at retail, while an owned and third-party fleet enables reliable last-mile deliveries.
Workforce & know-how
Skilled plant operators, engineers, sales reps, merchandisers and demand planners execute daily operations that sustain Varun Beverages’ distribution scale; institutional know-how in seasonality, pack-price architecture and route-to-market is central to margin management. A safety, quality and compliance culture preserves the license to operate across markets, while leadership drives efficiency and scale — supporting FY2024 consolidated revenue of Rs 41,676 crore.
Systems & data
ERP, WMS, TMS, SFA and analytics platforms integrate Varun Beverages operations into a single workflow, and by 2024 telemetry from coolers and lines feeds real-time uptime and availability metrics. Advanced forecasting and route optimization reduced logistics costs and stockouts in 2024, while master data integrity enables sub-minute decisioning across supply chain and sales. These systems collectively drive service-level and working-capital gains.
- ERP/WMS/TMS/SFA/Analytics unified
- IoT telemetry on coolers/lines (2024)
- Forecasting + route optimization cut costs/stockouts
- Master data integrity enables fast decisions
Supplier ecosystem
Varun Beverages relies on qualified vendors for packaging, ingredients and services to secure continuity, leveraging PepsiCo franchise scale and a 38+ manufacturing-plant footprint (2024) to negotiate terms. Multi-sourcing and regionalization lower supply disruption risk while SLA-driven partnerships enforce quality and OTIF targets. Joint innovation with suppliers advances product development and sustainability goals (packaging reduction, ingredient sourcing).
- Vendor qualification
- Multi-sourcing & regionalization
- SLA-driven OTIF & quality
- Joint innovation & sustainability
PepsiCo franchise across 27 states fuels Rs 41,676 crore FY2024 revenue
Varun Beverages' key resources combine exclusive PepsiCo franchise rights across 27 states and 7 union territories, a 38+ plant bottling footprint, owned distribution fleet and cold‑chain, skilled operations teams, and unified ERP/WMS/TMS/SFA with IoT telemetry driving FY2024 scale (consolidated revenue Rs 41,676 crore).
| Metric | Value (2024) |
|---|---|
| Revenue | Rs 41,676 crore |
| Manufacturing plants | 38+ |
| Territories | 27 states, 7 UTs |
Value Propositions
Iconic brands
Consumers access trusted global beverages tailored to local tastes through Varun Beverages’ portfolio, deployed across 27 states and 7 union territories. Brand equity from PepsiCo labels drives preference and repeat purchase, supporting high SKU velocity. Regular innovation and limited-time flavors refresh the assortment, while co-branded campaigns with local partners amplify relevance and penetration.
Always-cold availability
Extensive cooler placement ensures chilled beverages at the point-of-sale, maximizing impulse purchases and on-premise visibility. Frequent replenishment cycles maintain freshness and stock, reducing stockouts and spoilage. Broad last-mile reach across urban and rural outlets enhances availability and reliability, boosting retailer confidence and consumer satisfaction.
Pack-price ladder
Diverse SKUs from 200ml sachets and 250–500ml single-serve PET up to 1–2L multi-serve bottles fit budgets and occasions. Tactical pricing creates low entry points and enables premiumization via larger PET and value-added SKUs. Occasion-based packs target on-the-go, family and out-of-home consumption. This mix balances high-volume small packs with higher-margin multi-serve bottles, boosting both sales and profitability.
Quality & safety
Varun Beverages, a PepsiCo bottling partner operating across 27 countries in 2024, uses standardized processes to ensure consistent taste across markets; batch controls and SOPs minimize variability. Rigorous QA with HACCP/FSSC-aligned systems protects consumers and enables end-to-end traceability to meet regulatory compliance. Water stewardship programs and factory-level recycling support sustainability commitments.
- PepsiCo bottler across 27 countries (2024)
- Standardized processes ensure consistent taste
- HACCP/FSSC-aligned QA and traceability
- Factory water stewardship and recycling programs
Retailer value
Varun Beverages secures retailer value through reliable supply, branded coolers, and merchandising that lift sales per outlet; in-store activations drive footfall and higher basket sizes while trade schemes and flexible credit terms support retailer working capital. Service cadence is calibrated to outlet potential to maximize SKU velocity and share of shelf.
- Reliable supply — consistent stock availability
- Coolers & merchandising — higher visibility
- Trade schemes & credit — working capital relief
- In-store activation — increased footfall & basket size
- Service cadence — outlet-tailored visits
Varun drives trusted brands in 27 countries and 34 Indian regions, boosting chilled sales
Varun delivers trusted PepsiCo brands adapted to local tastes across 27 countries (2024) and 27 Indian states + 7 UTs, driving high SKU velocity and repeat purchase. Extensive cooler network and frequent replenishment maximize chilled impulse sales and reduce stockouts. Diverse SKUs from sachets to 2L bottles balance affordability and margin, supported by HACCP/FSSC-aligned QA.
| Metric | Value (2024) |
|---|---|
| Countries | 27 |
| India coverage | 27 states + 7 UTs |
| QA | HACCP/FSSC-aligned |
Customer Relationships
Distributor enablement
Clear policies, tiered incentives and digital tools boost distributor ROI—Varun Beverages reports a distributor network exceeding 4,000 partners (2024), with joint business plans aligning targets and resources across channels. Regular monthly reviews track fill rates and SKU-level growth, supporting retail fill improvements of mid-single digits. Ongoing training programs raise execution standards across markets and sites.
Key account management
Dedicated key-account teams cover modern trade, QSRs and institutions, managing relationships across an estimated 250,000 outlets to drive velocity and compliance. Custom assortments and targeted promos have lifted share-of-shelf in priority chains by double digits, supported by routine data sharing that sharpens category insights and assortment optimization. Firm SLAs guarantee on-time, in-full deliveries, reducing OTIF breaches to single-digit percentages.
Retailer servicing
Sales reps execute daily beats covering replenishment and cooler upkeep, ensuring planogram compliance and timely restocks. Trade promotions and in-store displays boost shelf visibility and impulse sales. Fast feedback loops from reps and retailers resolve stockouts within hours. Deep retailer relationships secure preferential placement and promotional slots.
Consumer engagement
ATL and BTL campaigns in 2024 strengthened brand love and trial for Varun Beverages, while digital and social activations explicitly linked products to consumption occasions, increasing engagement velocity. Sampling at events and on-trade activations boosted conversion by creating immediate trial moments, and targeted promotions drove repeat purchase frequency across key SKUs. The combined approach supported distribution-led growth and higher share-of-wallet in core markets.
- ATL/BTL: brand love and trial
- Digital/social: occasion linkage
- Sampling/events: conversion uplift
- Promotions: repeat purchase
After-sales support
- 63 bottling plants (2024)
- Regional spare-parts staging
- SLA-based complaint resolution
- Immediate quality-incident protocols
Proactive distribution: 4,000+ partners, ~250,000 outlets, 63 plants
Varun Beverages maintains proactive distributor management (4,000+ partners, 2024) and key-account coverage across ~250,000 outlets, driving mid-single-digit retail fill improvements and OTIF ~5%. Field sales and after-sales teams across 63 bottling plants ensure rapid restock, cooler uptime and SLA-led complaint resolution. Integrated ATL/BTL and digital activations lift trial and repeat purchase rates.
| Metric | 2024 |
|---|---|
| Distributors | 4,000+ |
| Outlets served | ~250,000 |
| Bottling plants | 63 |
| Estimated OTIF | ~5% |
Channels
General trade
General trade: kirana, paan shops and small groceries—part of India’s ~12 million kirana network—form Varun Beverages’ volume backbone; as one of PepsiCo’s largest bottlers in India, GT density demands efficient beats and micro-distribution. Small packs and chilled availability drive impulse buys; flexible credit and rapid replenishment enable high-frequency turnover.
Modern trade
Modern trade (supermarkets, hypermarkets) drives multi-serve and premium SKUs for Varun Beverages, capturing a growing organized-retail channel that reached about 12% of India’s retail market in 2024. Planograms and targeted promotions shape category flow and conversion; data-backed JBP deals with retail chains improve shelf share and visibility. In-store chillers enable cold take-home purchases, boosting impulse and multi-serve sales.
HoReCa & on-prem
Restaurants, cafes, cinemas and institutions drive high-margin pours and PET sales for Varun Beverages, with contracted listings and cooler placements securing steady on-prem demand.
E-commerce & quick commerce
E-commerce and 10–30 minute quick commerce expand Varun Beverages reach by pairing marketplaces with instant-delivery apps, driving convenience-led purchase occasions in 2024; assortment emphasizes multi-serve SKUs and bundled packs, while digital promos increase basket attach and frequency; cold-chain last-mile partners are used where temperature control preserves product quality.
- Channels: marketplaces, quick commerce
- Assortment: multi-serve, bundles
- Activation: digital promos for attach
- Logistics: cold-chain last-mile partners
Rural outreach
Hub-and-spoke distribution with sub-distributors extends rural reach across Varun Beverages’ 27-country footprint (2024), enabling last-mile penetration; seasonal camps and kiosks capture festivals and local events to spike volumes. Affordable SKUs target value-seeking consumers, while asset-light transport (hired vehicles/mini-trucks) adapts to difficult terrain and reduces fixed capex.
- Hub-and-spoke: last-mile extension
- Seasonal camps/kiosks: event capture
- Affordable SKUs: value consumers
- Asset-light transport: terrain adaptability
Kirana volume backbone, modern-trade margins and q-commerce convenience drive FMCG reach
General trade (India’s ~12 million kirana) remains volume backbone; small packs, chilled availability and rapid replenishment drive high-frequency turnover. Modern trade (12% of India retail, 2024) and HORECA secure multi-serve/premium margin; e-commerce/10–30min q-commerce lift convenience-led occasions. Hub-and-spoke plus sub-distributors extend last-mile across 27 countries (2024).
| Channel | Role | 2024 metric |
|---|---|---|
| General Trade | Volume/backbone | ~12m kirana |
| Modern Trade | Premium/multi-serve | 12% retail |
| Q-commerce | Convenience/cold-chain | 10–30min |
| Distribution | Last-mile reach | 27 countries |
Customer Segments
Urban youth
Urban youth are impulse-driven consumers seeking taste, energy and brand cues, showing strong affinity for carbonated soft drinks and on-the-go packs; Varun Beverages (listed on NSE/BSE as VBL) targets this cohort with chilled convenience SKUs. They respond strongly to digital campaigns and limited-edition drops, with purchase frequency spiking in summer months when CSD volumes typically rise.
Families & take-home
Households purchase multi-serve bottles such as 500 ml, 1.25 L and 2 L for meals and gatherings, favoring value packs and mixed-flavor multipacks. Consistent shelf availability across retail and kirana channels builds loyalty, reinforced by Varun Beverages’ role as a PepsiCo bottler. Promotions and trade schemes during festivals nudge pantry loading and repeat purchases. Value-oriented families drive bulk off‑take and category penetration.
Rural value seekers
Price-sensitive rural consumers (India rural population ~65% in 2024) favor entry packs and sachets; on-ground distribution and outlet availability determine purchase more than brand alone. Festive and local events produce clear volume spikes for soft drinks in rural markets. Consistent cold availability at kirana and dhaba outlets builds trust and repeat purchase among this segment.
Trade partners
Trade partners—retailers, distributors and modern trade accounts—prioritise throughput and margin, requiring reliable supply and cooler support; in 2024 Varun Beverages reinforced cooler density and service SLAs to protect sell-through. Execution tools and promotional schemes materially drive loyalty, while data-led collaboration (POS, sell-out analytics) improved route-to-market efficiency in 2024.
- Retailers: focus on throughput/margin
- Distributors: need reliable supply & coolers
- Modern trade: execution tools shape share
- Data collaboration: POS/sell-out analytics
Institutions & QSR
Institutions & QSR (cinemas, corporates, schools, restaurants) demand predictable supply with negotiated contracts defining assortment and pricing; Varun Beverages' FY2024 consolidated revenue of INR 27,346 crore underscores scale used to secure such deals.
Cold equipment uptime and service levels are critical; stable volumes from contracts smooth seasonality and support unit economics and working-capital planning.
- Contracts: negotiated assortment & pricing
- Segments: cinemas, corporates, schools, restaurants
- Critical: cold-equipment uptime & service
- Benefit: volume stability reduces seasonality
Expanding reach across urban youth, households & rural India; FY24 revenue INR 27,346 cr
Varun Beverages targets urban youth (impulse CSD buyers), households (multi-serve/value packs), price-sensitive rural consumers (entry packs; India rural population ~65% in 2024), trade partners (retailers/distributors/modern trade) and institutions/QSR (contracted supply). FY2024 consolidated revenue: INR 27,346 crore; cooler uptime and POS analytics drive execution.
| Segment | Key need | FY24 metric |
|---|---|---|
| Urban youth | Impulse, chilled SKUs, digital | — |
| Households | Value/multi-serve | — |
| Rural | Entry packs, availability | Rural pop ~65% (2024) |
| Trade | Throughput, coolers | — |
| Institutions/QSR | Contracted supply | Revenue INR 27,346 cr (FY2024) |
Cost Structure
Concentrate costs
Payments to PepsiCo for concentrates are Varun Beverages’ largest variable cost and are set under franchise pricing terms, typically billed per litre or per case as per the franchise agreement. Mix shifts between PET, glass and juice SKUs materially change the effective concentrate rate per case, altering per-case gross margins. Import-linked concentrate components expose costs to currency moves; USD/INR averaged about 82–83 in 2024, raising rupee-denominated concentrate expense when the rupee weakens.
Materials & packaging
Materials and packaging — PET resin, preforms, closures, labels, cartons and CO2 — constitute the bulk of Varun Beverages’ COGS, with sugar and high-intensity sweeteners adding notable volatility to input costs. Vendor payment terms and active hedging programs are used to mitigate short-term price spikes. Meeting sustainability specs (recycled PET content, upgraded barrier preforms) can raise unit input costs and CAPEX for suppliers.
Logistics & distribution
Fuel, freight, warehousing and last-mile delivery form a major share of Varun Beverages’ logistics cost base, with seasonality driving sharp secondary distribution spikes during summer. Route-optimization and load consolidation programs implemented in 2024 reduced empty miles and improved fleet utilization. Cooler placement, installation and field servicing add recurring field expenses and trade-promotion logistics overheads.
Utilities & maintenance
Utilities and maintenance in Varun Beverages’ cost structure drive material power, water and effluent-treatment spends; FY2024 filings show elevated power & fuel and water-treatment expenses tied to capacity growth and higher volumes. Preventive maintenance sustains OEE, while spare parts and periodic line overhauls require mixed capex/opex funding. Environmental compliance and effluent management add recurring operating overhead in 2024.
- Power & water: core recurring costs (FY2024 uptick)
- Preventive maintenance: protects OEE
- Spare parts/overhauls: capex + opex
- Environmental compliance: steady operating overhead
People & A&P
Sales force, plant staff and management compensation form the bulk of fixed and semi-variable costs in Varun Beverages’ model, while trade discounts and in-market promotions primarily drive offtake support; PepsiCo co-funds ATL/BTL campaigns to amplify demand, and ongoing training and safety programs ensure regulatory and operational compliance.
- Sales force & plant payroll: fixed/semi-variable cost
- Trade discounts & promotions: support offtake
- Co-funded ATL/BTL with PepsiCo: demand-building
- Training & safety: compliance and risk mitigation
Margins squeezed: concentrate fees, packaging & logistics as USD/INR hits 82–83
Concentrate fees (franchise pricing) and mix shifts drive per-case margins; USD/INR averaged 82–83 in 2024 increasing rupee costs. Packaging (PET, closures, CO2) and sweeteners are major COGS drivers; sustainability specs lift unit costs. Logistics, coolers and route optimization shape distribution spend. Utilities, maintenance and environmental compliance rose in FY2024 with capacity expansion.
| Line item | 2024 note |
|---|---|
| USD/INR | 82–83 (2024) |
| Power & water | FY2024 uptick |
Revenue Streams
CSD sales
Varun Beverages, PepsiCo’s largest bottler in India, anchors CSD volume with Pepsi, Mountain Dew, 7UP and Mirinda; CSD revenues rise sharply with seasonality and on-ground activation intensity. Realization is driven by pack-mix (single-serve vs multipack) and channel-mix (modern trade vs kirana), while festivals and heatwaves create pronounced demand spikes that materially boost topline.
NCB portfolio
As of 2024 Varun Beverages' NCB portfolio—Slice, Tropicana, Aquafina and Gatorade—extends the company well beyond carbonated soft drinks into juices, bottled water and sports drinks. Juices and sports drinks command higher realizations, supporting margin expansion. Aquafina-led water volumes drive scale and rural penetration. Continuous product innovation enables sustained premium pricing.
Premiumization
Premiumization via larger PET, sleek cans and value-added packs lifted ARPU for Varun Beverages, contributing to higher realizations while FY2024 consolidated revenue crossed INR 30,000 crore. Occasion-led bundles boosted basket size and seasonal SKU sales, lifting average pack value during festivals. Limited editions created scarcity value and premium margins. Channel exclusives captured higher willingness to pay in modern trade and e-commerce.
International markets
International sales from assigned territories across 27 countries drive Varun Beverages growth by expanding market reach beyond India.
Topline is exposed to currency swings and local seasonality, causing quarterly volatility in reported revenue and volumes.
Regional portfolio tailoring and route-to-market partnerships accelerate penetration and align SKUs with local tastes.
Other operating income
Other operating income for Varun Beverages primarily stems from scrap sales of PET and corrugate recovered at plants, plus modest service income from equipment upkeep and logistics support; incentives and claim recoveries add minor, irregular streams, while operational efficiency gains preserve margins.
- Scrap recovery: PET/corrugate sales
- Services: equipment & logistics income
- Incentives/claims: minor recoveries
- Efficiency: margin preservation
CSD seasonality and NCB premiumization lift ARPU; FY2024 revenue > INR 30,000 cr, 27 mkts
Core revenue from CSDs (Pepsi, Mountain Dew, 7UP, Mirinda) is seasonal and channel-sensitive; NCBs (Tropicana, Aquafina, Gatorade) boost realizations and margin. Premiumization, pack-mix and modern-trade lift ARPU; FY2024 consolidated revenue crossed INR 30,000 crore and international operations span 27 countries.
| Metric | FY2024 | Note |
|---|---|---|
| Consolidated revenue | INR 30,000+ crore | FY2024 |
| Countries | 27 | Assigned territories |