Coke and Pepsi still have plenty of pop.
Soda sales could take a hit if other cities follow New York, which last week adopted a ban on sugary drinks bigger than 16 ounces. And soda consumption in the United States has already been dropping since 1998.
But Coca-Cola and PepsiCo, the world's No. 1 and No. 2 soft-drink makers, more than make up for it elsewhere.
People are drinking more than twice as much bottled water and other non-carbonated drinks. Coke makes Dasani water and Powerade; Pepsi makes Aquafina and Gatorade. Pepsi also owns Tostitos and Lay's and gets almost half its revenue from food.
The companies are racing to expand overseas, where there's more room for growth. Coke and Pepsi have struck deals in the past year to establish stakes in China, India and Myanmar.
In any case, the New York ban applies to restaurants and concession stands, not supermarkets or convenience stores. So it mostly impacts fountain sodas, which are only a quarter of U.S. soda sales.
Associated Press
The Augusta Chronicle ©2010 Morris Communications, LLC. All Rights Reserved.
