COMPANIES

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PRODUCTSPepsiCoCHAPTER

01OverviewThe100largestcompaniesintheworldbymarketcapitalizationin2022(inbillionU.S.dollars)Biggestcompaniesintheworldbymarketvalue2022MarketcapitalizationinbillionU.S.dollars500

1,00001,5002,0002,5003,000Apple(UnitedStates)SaudiArabianOilCompany(SaudiAramco)(SaudiArabia)Microsoft(UnitedStates)2,640.322,292.082,054.37Alphabet(UnitedStates)1,581.721,468.4Amazon(UnitedStates)Tesla(UnitedStates)1,038.73BerkshireHathaway(UnitedStates)MetaPlatforms(UnitedStates)TaiwanSemiconductor(Taiwan)UnitedHealthGroup(UnitedStates)NVIDIA(UnitedStates)741.48499.86494.6490.15489.83477.38436.49Johnson&Johnson(UnitedStates)Visa(UnitedStates)3Description:Withamarketcapitalizationof2.64trillionU.S.dollarsasofApril2021,Applewastheworld`slargestcompanyin2022.Roundingoutthetopfiveweresomeoftheworld`smostrecognizablebrands:SaudiArabianOilCompany(SaudiAramco),Microsoft,Google`sparentcompanyAlphabet,andAmazon.Applealsoledtherankingoftheworld'smostprofitablecompaniesin2020,withanetincomeof51.41billionU.S.dollars.ReadmoreNote(s):Worldwide;April22,2022Source(s):ForbesLeadingfoodandbeveragepackagingcompaniesworldwidein2019,basedonrevenue(inbillionU.S.dollars)Globalrevenueoftheleadingfoodpackagingfirms2019RevenueinbillionU.S.dollars0102030405060708090100NestleSAPepsicoInc.ABInBev93.168.252.351.7JBSUSATysonFoodsInc.MarsInternationalCoca-Cola43.137.537.2Cargill32.17Danone28.3Heineken26.84Description:Thisstatisticshowstheleadingfoodpackagingcompaniesworldwidein2019,basedonrevenue.In2019,theleadingfoodpackagerintheworldwasNestle,with93.1billionU.S.dollarsinrevenueR.

eadmoreNote(s):Worldwide;2020Source(s):Dun&Bradstreet;PackagingStrategiesLeadingbeveragecompaniesworldwidein2020,basedonsales(inmillionU.S.dollars)Globalbeveragemarket:leadingcompanies2020,basedonsalesSalesinmillionU.S.dollars05,00010,00015,00020,00025,00030,00035,00040,00045,00050,000Anheuser-BuschInBevNestléSA46,88143,476TheCoca-ColaCo.PepsiCoInc.33,01432,567HeinekenN.V.23,663SuntoryHoldingsLtd.StarbucksCorp.21,67017,87316,411DiageoPLCKeurigDrPepperMolsonCoorsBrewingCo.UnileverGroup§ConstellationBrandsInc.PernodRicard11,6189,6549,5669,3568,4505Description:Anheuser-BuschInBevwastheleadingbeveragecompanyintheworldin2020,withsalesinexcessof46billionU.S.dollars.ThealcoholicbeverageproducerhadaslightleadinsalesoversecondplaceNestléSA,whosesaleswereover43millionU.S.dollarslowerthanthoseofAnheuser-BuschInBev.ReadmoreNote(s):Worldwide;2020;*BeverageIndustryestimate.+Alloperatingunits,includingnon-beverages.§Refreshmentsandicecream.^Bottledwateronly.§§AmericasSimpleMealsandBeverages.^^GlanbiaPerformanceNutritiondivision.++[...]ReadmoreSource(s):BeverageIndustryMagazineMostvaluablesoftdrinkbrandsworldwidein2021,basedonbrandvalue(inmillionU.S.dollars)Brandvalueofthemostvaluablesoftdrinkbrandsworldwide2021BrandvalueinmillionU.S.dollars30,000

40,000010,00020,00050,00060,00070,00080,00074,785Coca-ColaRedBullYili14,88614,55613,742PepsiDietCoke*NespressoLipton**NescaféMengniuMonster12,81910,3699,8559,1088,4437,4986Description:Thisstatisticdepictsthebrandvalueoftheworld'smostvaluablesoftdrinkbrandsin2021.Thatyear,RedBullwasthesecondmostvaluablebeveragebrandworldwidewithabrandvalueofabout14.9billionU.S.dollars.Read

moreNote(s):Worldwide;2021Source(s):Bloomberg;Kantar;KantarMillwardBrownTopcompaniesinthenon-alcoholicbeverages*sectorintheUnitedStatesbetween2016and2021,bynumberofnewproductlaunchesLeadingnon-alcoholicbeveragemanufacturersU.S.2016-2021,byproductlaunchesNumberofnewitemslaunched050100150200250300350400PepsiCoTheCoca-ColaCompanyNestlé/NestléwatersAldiGroup/AldiNordKroger342327327250158Walmart10199DrPepperSnappleGroupGatorade86StarbucksCoffeeSujaLife797978OceanSprayH-E-B7674WegmansFoodsMarketsGiantEagle7373ABAcquisition7Description:BetweenJanuary2016andFebruary15,2021,PepsiCohad342newproductlaunchesinthenon-alcoholicbeveragessectorintheUnitedStates,aheadofcompetitorsliketheCoca-ColaCompanyandNestlé,whichhad327newproductlauncheseachduringthatperiod.

ReadmoreNote(s):UnitedStates;BetweenJanuary2016andFebruary15,2021;*non-alcoholicjuice/soda/tea/water/energydrinksetc.ReadmoreSource(s):AgricultureandAgri-FoodCanada;MintelLeadingcompaniesintheUnitedStatesasofMay2021,byreputation(indexscore)MostreputablecompaniesintheU.S.2020Indexscore4001020305060708090PatagoniaHonda82.781.6ModernaChick-fil-ASpaceX81.381.181.180.9ChewyPfizer80.2TeslaMotorsCostco80.280.180AREI79.9USAA79.279.2Wegmans8Description:In2021,astudyonthereputationofcorporationsfoundthatintheUnitedStates,Patagoniatookthetopspotwithanindexscoreof82.7,whichwasbasedonconsumerperceptionofthebrand.TheoutdoorwearbrandwasfollowedbyautomakerHonda,whoscored81.6pointsintheranking.Therankingisbasedonalistof"mostvisible"companiesintheU.S.,i.e.companiesthatweremosttop-of-mindforreputationforU.S.consumers.ReadmoreNote(s):UnitedStates;April8to21,2021;42,935respondentsSource(s):Axios;HarrisPollCHAPTER

02KeyfiguresPepsiCo'snetrevenueworldwidefrom2007to2021(inbillionU.S.dollars)PepsiCo'snetrevenueworldwide2007-20219079.478070.3767.1670605040302010066.566.4266.6865.4964.6663.5363.0662.857.8443.2543.2339.4720072008200920102011201220132014201520162017201820192020202110Description:ThistimelinedepictsPepsiCo'snetrevenueworldwidefrom2007to2021.In2021,PepsiCo'snetrevenueworldwideamountedtoabout79.47billionU.S.dollars.ReadmoreNote(s):Worldwide;2007to2021Source(s):PepsiCoPepsiCo'snetrevenueworldwidefrom2013to2021,bydivision(inmillionU.S.dollars)*PepsiCo'snetrevenueworldwide2013-2021,bydivisionNorthAmericaBeverages(NAB)LatinAmericaFrito-LayNorthAmerica(FLNA)EuropeSub-SaharanAfrica(ESSA)QuakerFoodsNorthAmerica(QFNA)Asia,MiddleEast&NorthAfrica(AMENA)EuropeAfrica,MiddleEastandSouthAsia(AMESA)

AsiaPacific,AustraliaandChina(APAC)90,00080,00070,00060,00050,00040,00030,00020,00010,000020132014201520162017201820192020202111Description:In2020,PepsiCo`sNorthAmericaBeverages(NAB)divisiongeneratedanetrevenueofover25.3billionU.S.dollars.NABhasbeenthecompany`slargestdivisionforthepastfiveyears.TheLatinAmericadivisionPepsiComorethaneightbillionU.S.dollarsinrevenueinthesameyear.

ReadmoreNote(s):Worldwide;2013to2021;*Asof2019,PepsiConolongerreportedthetotalrevenuefortheESSAandAMENAdivisions.Thenewdivisionsfor2019wereEurope,AMESAandAPAC.PepsiCo'sfiscalyearendsonthelastSaturdayofeach[...]Read

moreSource(s):PepsiCoPepsiCo'sdistributionofnetrevenueworldwidein2021,bysegmentPepsiCo'sdistributionofnetrevenueworldwide2021,bysegment35%32%30%25%25%20%16%15%10%10%5%8%6%3%0%PepsiCoBeveragesNorthAmericaFrito-LayNorthAmericaEuropeLatinAmericaAfrica,MiddleEast

AsiaPacific,Australia

QuakerFoodsNorthandSouthAsiaandNewZealand,andChinaRegionAmerica12Description:ThisstatisticshowsthedistributionofPepsiCo'snetrevenueworldwidein2021,bysegment.Accordingtothereport,PepsiCo'sFrito-LayNorthAmericasegmentaccountedforapproximately25percentofthecompany'sglobalnetrevenuethatyear.ReadmoreNote(s):Worldwide;2021Source(s):PepsiCoPepsiCo'sdistributionofnetrevenueworldwidefrom2011to2021,byfoodandbeveragePepsiCo'smixofnetrevenueworldwide2011-2021,byfoodandbeverageFoodBeverage120%100%80%60%40%20%0%46%46%45%45%48%47%47%48%47%49%52%54%54%55%55%52%53%53%52%53%51%48%2011201220132014201520162017201820192020202113Description:ThisstatisticpresentsPepsiCo'sdistributionofnetrevenueworldwidefrom2011to2021,byfoodandbeverage.In2021,some55percentofPepsiCo'sworldwidenetrevenuewasgeneratedfromfoodsales.PepsiCoisamultinationalfoodandbeveragecompany,basedinPurchase,NewYork.

ReadmoreNote(s):Worldwide;2011to2021Source(s):PepsiCoPepsiCo'snetincomeworldwidefrom2007to2021(inmillionU.S.dollars)PepsiCo'snetincomeworldwide2007-202114,00012,51512,00010,0007,6188,0006,0004,0002,00007,3147,1206,7406,4436,5136,3206,3296,1785,9465,6585,4525,1424,85720072008200920102011201220132014201520162017201820192020202114Description:In2021,PepsiCo`snetincomeamountedtomorethansevenbillionU.S.dollars.Thecompany`snetearningswerebyfarthehighestin2018,whenover12billionU.S.dollarswasmade.PepsiCoisalargeAmericanfoodandbeverageenterprise,responsibleforvariouswell-knownbrands,includingPepsi,MountainDew,andDoritos.ReadmoreNote(s):Worldwide;2007to2021Source(s):PepsiCoPepsiCo'soperatingprofitmarginworldwidefrom2007to2021PepsiCo'soperatingprofitmarginworldwide2007-202120%18.6%18.2%18%16%14%12%10%8%16.5%16.1%15.6%15.6%15.3%14.4%14.5%14.6%14.4%14.3%13.9%14%13.2%6%4%2%0%20072008200920102011201220132014201520162017201820192020202115Description:ThistimelinedepictsPepsiCo'soperatingprofitmarginworldwidefrom2007to2021.PepsiCo'soperatingprofitmarginamountedto14percentin2021.PepsiCoisanAmericanfoodandbeveragecorporation,basedinPurchase,NY.FamouscompanybeveragebrandsarePepsiandMountainDew.

ReadmoreNote(s):Worldwide;2007to2021Source(s):PepsiCoPepsiCo'soperatingprofitshareworldwidein2021,bydivisionPepsiCo'soperatingprofitshareworldwide2021,bydivision50%44%45%40%35%30%25%20%15%10%5%19%11%10%7%5%4%0%Frito-LayNorthAmericaPepsiCoBeveragesNorthAmericaLatinAmericaEuropeAfrica,MiddleEast

AsiaPacific,Australia

QuakerFoodsNorthandSouthAsiaandNewZealandandChinaRegionAmerica16Description:ThistimelinedepictsPepsiCo'soperatingprofitsharein2021,bydivision.Accordingtothereport,PepsiCo'sQuakerFoodsNorthAmericaaccountedforapproximatelyfourpercentofthecompany'soperatingprofitthatyear.ReadmoreNote(s):Worldwide;2021Source(s):PepsiCoResearchanddevelopment(R&D)costsofPepsiCoworldwidefrom2013to2021(inmillionU.S.dollars)PepsiCo'sR&Dcostsworldwide2013-2021800700600500400300200100076075475273771871971168066520132014201520162017201820192020202117Description:In2021,PepsiCospentjustover752millionU.S.dollarsonresearchanddevelopment.Overthepastsevenyears,thecompany`stotalR&Dexpenseshavefluctuatedbetween665and760millionU.S.dollars.PepsiCoisalargeAmericanmultinational,headquarteredinNewYork,UnitedStates.

ReadmoreNote(s):Worldwide;2013to2021Source(s):PepsiCoNumberofemployeesofPepsiCoworldwidefrom2013to2021(in1,000s)PepsiCo'snumberofemployeesworldwide2013-202135030929130025020015010050274271267267263264263020132014201520162017201820192020202118Description:ThisstatisticdepictsPepsiCo'snumberofemployeesworldwidefrom2013to2021.AsofDecember25,2021,PepsiCoemployedabout309,000peopleworldwide.ReadmoreNote(s):Worldwide;2013to2021*;*AsoftheendofDecemberofeachyear.PepsiCo'sfiscalyearendsonthelastSaturdayofeachDecember,resultinginanadditionalweekofresultseveryfiveorsixyears.ReadmoreSource(s):PepsiCoCHAPTER

03AdvertisingspendingPepsiCo'sadvertisingexpensesworldwidefrom2013to2021(inbillionU.S.dollars)PepsiCo:adspendworldwide2013-20214.03.53.5333.02.52.01.51.00.50.02.62.52.42.42.42.320132014201520162017201820192020202120Description:Accordingtofinancialreporting,PepsiCohasbeendevotingbetween2.3and3.5billionU.S.dollarstoadvertisingandpromotionofitsproductsannually.Thecompanyexplainsthatthoseexpensesincludemediaandpersonalserviceprepayments,promotionalmaterialsininventoryaswellasproductioncostsoffuturemediaadvertising.ExternalsourcescalculatethatintheUnitedStatesin2019PepsiCospentaround224millionU.S.dollarsonadvertisingthePepsibrandalone.ReadmoreNote(s):2013to2021;includesmediaandpersonalserviceprepayments,promotionalmaterialsininventory,andproductioncostsoffuturemediaadvertisingSource(s):PepsiCoPepsiCo'sadvertisingspendingintheUnitedStatesfrom2014to2021(inbillionU.S.dollars)PepsiCo:adspendintheU.S.2014-20212.51.962.01.51.00.50.01.731.741.491.461.381.341.182014201520162017201820192020202121Description:In2021,PepsiCoinvested1.96billionU.S.dollarsinadvertisingintheUnitedStates.Thebeveragemanufacturerreachedthehighestadspendingduringtheperiodinreview.Comparedto2020,PepsiCo'sexpendituresonadvertisingincreasedbyaround12percent.

ReadmoreNote(s):UnitedStates;2014to2021Source(s):AdvertisingAge;KantarAdvertisingspendingofselectedbeveragebrandsintheUnitedStatesin2021(inmillionU.S.dollars)AdspendofselectedbeveragebrandsintheU.S.2021SpendinginmillionU.S.dollars60

80

10002040120140160180200193220Coke(Coca-ColaCo.)Pepsi(PepsiCo)114DrPepper(KeurigDrPepper)Gatorade(PepsiCo)8659MountainDew(PepsiCo)Sprite(Coca-ColaCo.)4830PureLife(BlueTritonBrands)PolandSpring(BlueTritonBrands)Dasani(Coca-ColaCo.)8300Aquafina(PepsiCo)22Description:IntheUnitedStates,Coca-ColaCompanyandPepsiCospendthemostonadvertisingtheirpopularsugarydrinks.EventhoughbottledwaterbrandsuchasPureLife(belongingtoBlueTritonBrands)isinthetoptenofhighestadspendersinthecountry,itpalesincomparisontothetwomajorsodabrands-CokeandPepsi.Coca-Colaspent193millionU.S.dollarsin2021onadvertisingitsflagshipbeverage,whilePepsiCoinvestedsome114millioninpromotingPepsithatyear.Atthesame[...]ReadmoreNote(s):UnitedStates;2021;measuredmediaonlySource(s):AdvertisingAge;KantarLeadingadvertisersoncableTVnetworksintheUnitedStatesin2021,byadspend(inmillionU.S.dollars)LargestadvertisersoncableTVnetworksintheU.S.2021SpendinginmillionU.S.dollars300

400

50001002006007008009008771,000Procter&GambleBerkshireHathawayWarnerBros.DiscoveryAmazon642629495490WaltDisneyCo.AbbVie370PepsiCo341336ProgressiveCorp.T-MobileUS(DeutscheTelekom)YumBrands33232723Description:Procter&Gamblespent877millionU.S.dollarsonadvertisingoncableTVintheUnitedStatesin2021.ThecompanyrankedastheleadingadvertiseroncableTVnetworksinthecountry.BerkshireHathawayandWarnerBrosDiscoverycamenext,withadexpendituresof642millionand629millionU.S.dollars,respectively.ReadmoreNote(s):UnitedStates;2021;measuredmediaonlySource(s):AdvertisingAge;KantarCHAPTER

04U.S.segmentsPepsiCo'scarbonatedsoftdrinkmarketshareintheUnitedStatesfrom2004to2020PepsiCoCSDmarketshareintheU.S.2004-202035%30.5%30.5%30.2%

30.3%30.3%29.7%29.2%30%25%20%15%10%5%28.5%28.3%28%27.8%27.4%26.8%26.6%26.1%25.9%25.7%0%2004200520062007200820092010201120122013201420152016201720182019202025Description:In2020,PepsiCo'sU.S.marketshareincarbonatedsoftdrinkswas25.9percent.PepsiCoisanAmericanfoodandbeveragecorporation,basedinPurchase,NY.FamouscompanybrandsarePepsiandMountainDew.Othersoftdrinkindustrymarketsharesmaybefoundhere.

ReadmoreNote(s):UnitedStates;2004to2020Source(s):BeverageDigestSalesoftheleadingsnackandbakerycompaniesworldwidein2020(inbillionU.S.dollars)Topsnackandbakerycompaniesworldwidein2020SalesinbillionU.S.dollars30

40010205060708090100NestléS.A.*PepsiCo91.170.4Mars,Inc.40MondelzInternationalKraftHeinzCo.26.626.2CJCheilJedang**GeneralMills21.617.6GrupoBimboS.A.B.deC.V.***Ferrero****1614.713.8KelloggCo.26Description:NestléS.A.hadsalesofapproximately91.1billionU.S.dollarsin2020,makingthemtheleadingsnackandbakeryproductcompanyintheWorldbyacomfortablemargin.Bycomparison,PepsiCostoodinsecondplacethatyear,withsalesofabout70.4billiondollars.

ReadmoreNote(s):Worldwide;2020;*BasedonexchangeratesdatedMarch16,2021**BasedonexchangeratesdatedFebruary8,2021***BasedonexchangeratesdatedMarch23,2021****BasedonexchangeratesdatedAugust31,2020Thesource[...R]

eadmoreSource(s):SnackFood&WholesaleBakeryLeadingvendorsofbottledwaterintheUnitedStatesin2020,basedonsales(inmillionU.S.dollars)LeadingvendorsofbottledwaterintheU.S.2020,basedonsalesSalesinmillionU.S.dollars1,000

1,50005002,0002,5003,0003,500PrivatelabelNestleWatersNorthAmerica,Inc.GlaceauWaterCo.,Inc.Coca-ColaCo.2,961.992,349.23758.8712.75702.83Pepsico,Inc.QuakerOatsCo.292.2227Description:In2020,privatelabelsdominatedthebottledwatermarketintheUnitedStates,withsalesamountingtoapproximately2.9billionU.S.dollars.TheleadingvendoroftheyearwasNestléWatersNorthAmerica,Inc.,whichgeneratedroughly2.3billionU.S.dollarsinsales.ReadmoreNote(s):UnitedStates;52weeksendedJuly12,2020Source(s):FoodBusinessNews;IRILeadingvendorsofpotatochipsintheUnitedStatesin2021,basedonsales(inmillionU.S.dollars)LeadingvendorsofpotatochipsintheUnitedStates2021SalesinmillionU.S.dollars2,000

3,00001,0004,0005,0006,000FritoLayKelloggCo.5,005.681,039.64Privatelabel568.49CapeCodPotatoChipUtzQualityFoods319.85299.6728Description:ThisstatisticshowstheleadingvendorsofpotatochipsintheUnitedStatesin2021,basedonsales.Inthatyear,FritoLaywastheleadingpotatoch