Largest Beverage Companies (2026)

PepsiCo has the highest revenue of any company in this list, at US$95.4bn in the Forbes Global 2000 for 2026, but its business is split between drinks and food: Forbes' description lists separate beverage segments for North America and international franchise markets, including SodaStream, alongside food and snack segments. It is included because beverages are one of its two core businesses. The company is headquartered in Purchase, New York, and Forbes records 306,000 employees.

AB InBev is the largest company in the list whose business is wholly beverages, with revenue of US$59.3bn and profit of US$6.9bn in the Forbes 2026 data. The Leuven-based holding company makes and distributes alcoholic and non-alcoholic drinks and reports through regional segments covering North America, Middle Americas, South America, EMEA and Asia Pacific. It also has the largest balance sheet in the sector, with assets of US$220.9bn. The group publishes ten principles describing how it operates.

The Coca-Cola Company reported revenue of US$49.8bn and profit of US$13.7bn in the Forbes 2026 data, and its market value of US$347.7bn is the highest of any company in this list. The company traces its origin to the first Coca-Cola served at Jacobs' Pharmacy in Atlanta on 8 May 1886 and says it has more than 200 brands. The company describes its bottling partners worldwide as part of its supply chain; several large bottlers are separately listed and appear lower in this list.

The Heineken entry in the Forbes Global 2000 is Heineken Holding N.V., the Amsterdam-listed parent that supervises the Heineken group; Forbes records revenue of US$32.5bn for 2026. The company describes itself as the second-largest brewer in the world and the largest in Europe, with more than 340 beer and cider brands, sales in more than 190 countries and more than 87,000 employees, and dates its history to 1864.

Kweichow Moutai, the producer of Moutai baijiu based in Renhuai, reported revenue of US$24.7bn and profit of US$11.6bn in the Forbes 2026 data, the highest ratio of profit to revenue of any company in the list. Its market value of US$245.1bn is second only to Coca-Cola's among beverage companies.

Coca-Cola Europacific Partners distributes and sells Coca-Cola's non-alcoholic ready-to-drink beverages; Forbes lists segments covering Iberia, Germany, Great Britain, France, the Benelux countries and the Nordic region. The Uxbridge-based bottler reported revenue of US$23.6bn and 39,000 employees in the Forbes 2026 data.

Diageo reported revenue of US$19.8bn in the Forbes 2026 data, making it the largest spirits company outside China in this list. Its brands include Johnnie Walker, Smirnoff, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness. The company says it has more than 200 brands sold in nearly 180 countries and was formed in 1997.

Asahi Group Holdings, based in Tokyo, reported revenue of US$19.6bn in the Forbes 2026 data. Its segments are alcoholic beverages, soft drinks, food and overseas operations; the food segment includes confectionery, supplements and seasonings.

Keurig Dr Pepper, headquartered in Frisco, Texas, reported revenue of US$16.9bn in the Forbes 2026 data. Its US refreshment beverages segment includes Dr Pepper, Canada Dry, Snapple, 7UP and A&W, while its coffee segment sells single-serve brewers and coffee pods.

Kirin Holdings reported revenue of US$16.3bn in the Forbes 2026 data. Its segments cover beer and spirits in Japan, non-alcoholic beverages in Japan, an integrated beverages business in Oceania, and pharmaceuticals, so not all of its revenue comes from drinks.

Arca Continental, based in Monterrey, bottles Coca-Cola brands in Mexico, Peru, Argentina, Ecuador and part of the United States, and also sells dairy drinks and snacks. It reported revenue of US$13.5bn and 71,358 employees in the Forbes 2026 data.

Carlsberg reported revenue of US$13.5bn in the Forbes 2026 data, almost level with Arca Continental. The Copenhagen-based group was established in 1847 by the brewer J.C. Jacobsen, has more than 180 brands, including soft drinks, and employs about 37,000 people.

Coca-Cola HBC, headquartered in Steinhausen, Switzerland, produces and distributes Coca-Cola and other ready-to-drink beverages in markets that Forbes groups into established, developing and emerging segments, ranging from Italy and Ireland to Poland, Nigeria and Ukraine. It reported revenue of US$13.1bn in the Forbes 2026 data.

Pernod Ricard, based in Paris, reported revenue of US$11.3bn and profit of US$1.6bn in the Forbes 2026 data. Its brands include Absolut, Chivas Regal, Jameson, Martell, The Glenlivet, Malibu and G.H. Mumm champagne.

Molson Coors, headquartered in Golden, Colorado, reported revenue of US$11.2bn in the Forbes 2026 data, but a loss of US$2.1bn for the period, the largest loss of any company in this list. It operates through an Americas segment and an EMEA and APAC segment that includes the UK, Ireland and several Central and Eastern European markets.

Thai Beverage, based in Bangkok, reported revenue of US$10.2bn in the Forbes 2026 data. It operates spirits, beer, non-alcoholic beverage and food segments, and its brands include SangSom, Mekhong, Chang beer and Oishi green tea.

Constellation Brands, founded by Marvin Sands in 1945 according to Forbes and headquartered in Rochester, New York, reported revenue of US$9.1bn in the 2026 data. It reports through beer and wine and spirits segments, with beer including imported and craft brands.

Monster Beverage, of Corona, California, reported revenue of US$8.8bn and profit of US$2.0bn in the Forbes 2026 data. Its market value of US$85.2bn is higher than that of Heineken, Carlsberg, Asahi and Kirin combined. Its energy drinks are sold to bottlers and full-service beverage distributors.

Nongfu Spring, founded by Zhong Shanshan in 1996 according to Forbes and based in Hangzhou, reported revenue of US$7.3bn and profit of US$2.2bn in the 2026 data. Its segments cover packaged water, ready-to-drink tea, functional drinks and juices.

Wuliangye Yibin, the producer of Wuliangye baijiu based in Yibin, reported revenue of US$5.6bn in the Forbes 2026 data. Its market value of US$49.6bn is high relative to its sales, a pattern shared by the other listed baijiu producers.

Shanxi Xinghuacun Fen Wine Factory produces Fenjiu and Zhuye green wine and is headquartered in Luliang, Shanxi. It reported revenue of US$5.2bn and profit of US$1.5bn in the Forbes 2026 data.

Luzhou Laojiao, the maker of National Cellar 1573 and Luzhou Laojiao Tequ liquors, reported revenue of US$3.3bn and profit of US$1.4bn in the Forbes 2026 data. With 3,912 employees, it reports the fewest employees of any company in this list.