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Key Players in the Beverage Industry in Mexico.

Key Players Table

Detailed profile Relevant context information Estimates of volumes Estimates of revenue
Fomento Económico Mexicano (FEMSA): Mexican multinational holding company with significant operations in beverages, retail, and logistics. It is the largest independent Coca-Cola bottling group globally through Coca-Cola FEMSA and operates the largest convenience store chain in Mexico, OXXO. Headquartered in Monterrey, Mexico. Key brands are primarily through its subsidiaries, notably Coca-Cola brands via KOF. Strategic intent involves growth in beverages, retail, and digital financial services. Previously owned Cervecería Cuauhtémoc Moctezuma (exchanged for a stake in Heineken). Has operations across Latin America and the United States. Total consolidated revenues grew 4.6% in 4Q23 compared to 4Q22. Volumes are primarily reported through its subsidiary Coca-Cola FEMSA. Reported total consolidated revenue of P$279,793 million in 2024. Reported trailing twelve-month revenue of $42.02 billion as of March 31, 2024. Reported revenue of USD 41.37 B as of Dec 31, 2023. Ranked as the fifth largest company in Mexico by revenue in 2019 with US$26.9 billion. 2023 revenue was $33.481 billion (Fortune) and $35.86 billion (Forbes).
Coca-Cola FEMSA (KOF): The largest Coca-Cola franchise bottler in the world by sales volume. It is a subsidiary of FEMSA and operates in Mexico, Central America, and South America. Supplies over two million points of sale. Important part of the Coca-Cola System. Produces, sells, and distributes beverages under The Coca-Cola Company trademarks, including sparkling drinks, water, and non-carbonated beverages. Operates 56 bottling plants and 251 distribution centers. Volume growth in Mexico was noted in 2023 and 2024. Investing in commercial capabilities and digital initiatives like the Juntos+ B2B platform. Reported total volume of 4,224.6 million unit cases in 2024, a 4.4% increase. Reported total volume of 4,047.8 million unit cases in 2023, a 7.8% increase. Volume in Mexico and Central America division was 1,717 million unit cases over the LTM as of 3Q24, a 5.6% increase year-over-year. Mexico volume growth contributed to overall growth in 2024. Reported total revenues of P$279,793 million in 2024. Reported total revenues of P$245,088 million in 2023. Reported total revenue of P$267,585m over the LTM as of 3Q24. Trailing twelve-month revenue of $14.54 billion as of March 31, 2023. Reported USD 14.43 B as of Dec 31, 2023. Mexico and Central America division accounted for P$105,860m (39.4% of total revenue) over the LTM as of 3Q24.
Arca Continental: Second-largest Coca-Cola bottler in Latin America. Mexican beverage manufacturing company involved in production and distribution of soft drinks, bottled water, and snacks. Operates in Mexico, the United States, Ecuador, Peru, and Argentina. Key brands are under The Coca-Cola Company brand, along with their own brands and snacks. Focuses on market execution, price/pack architecture, and digital initiatives. Showed strong performance in Mexico operations in 2020. Investments in commercial capabilities. Total beverage volume was 1,200.3 million unit cases in 6M23. Total beverage volume was 541.6 million unit cases in 1Q22. Total beverage volume was 554.7 million unit cases in 3Q20. Sold 1,282 million eight-ounce cases of soft drinks and jugs in Mexico in 2021. Reported Net Sales of USD 11.49 B as of Dec 31, 2024. Reported trailing twelve-month revenue of $12 billion as of September 30, 2023. Reported Net Sales of P$106,735 million in 6M23. Reported Net Sales of P$155,151 million in 9M22. Reported Net Sales of P$46,065 million in 1Q22. Reported Net Sales of P$126,649 million in 9M20.
Heineken Mexico: Significant brewery in Mexico, part of Heineken N.V. Key brands include Tecate, Dos Equis, Indio, Sol, Superior, Carta Blanca, Bohemia, Heineken, Coors Light, Miller Lite, Amstel Ultra, Ladron de Manzanas, Strongbow, Lagunitas. Mexico is a key market for Heineken globally and contributed to organic growth in 2023 and 2024. Focuses on premiumization and pricing. Had 18,000 employees in 2023. Volume growth in Mexico was noted in 2023. Global beer volume increased organically by 1.6% year to date in 3Q24. Reported sales of 187,000 million pesos in 2023. Global Net revenue (beia) was €30.0 billion in 2024. Net revenue (beia) grew organically by a mid-single-digit in Mexico in 3Q23. Currency translation from the Mexican Peso impacted global net revenue in 2024.
Grupo Modelo (Part of AB InBev): Large brewery in Mexico, exporting brands globally and importing AB InBev brands into Mexico. Acquired by Anheuser-Busch InBev. Key export brands include Corona, Modelo, and Pacífico. Domestic brands include Victoria, Estrella Jalisco, and León. Also imports and distributes AB InBev products like Budweiser and Bud Light in Mexico. Has seven brewing plants in Mexico. Mexico became AB InBev's seventh Zone after the acquisition. Corona is a global flagship brand for AB InBev. Has a total annual installed capacity of 60 million hectoliters in its Mexican brewing plants. Global beer volume for the combined AB InBev and Grupo Modelo was approximately 400 million hectoliters annually in 2013. Delivered volume growth across all segments in Mexico in 2022. Specific revenue for Grupo Modelo within AB InBev's global results is not provided in the snippets. AB InBev's global revenue was $59.38 billion in 2023. Mexico is described as the world's fourth largest profit pool for beer.
GEPP (Grupo GEPP): One of Mexico's largest bottlers of soft drinks and jug water, and the exclusive bottler of PepsiCo beverage products in Mexico. Subsidiary of Organización Cultiba. Markets carbonated and non-carbonated soft drinks and jug water under its own brands and third-party brands (PepsiCo). Has the only nationwide beverage distribution network in Mexico. Key brands include PepsiCo brands like Gatorade. Also the largest distributor of jug water in Mexico. Sold approximately 905 million eight-ounce cases of carbonated and non-carbonated beverages and dairy products, and approximately 699 million eight-ounce cases of water bottles in 2021. Had 44 production centers for bottled beverages and jug water with significant capacity in 2021. Specific revenue for GEPP is not explicitly provided in the snippets. PepsiCo reported low single-digit organic revenue growth in Mexico in Q3 2024.
Grupo Lala: Mexican company focused on the healthy food industry, with over 70 years of experience in producing, innovating, and marketing milk, dairy products, and beverages. Operates in Mexico, Brazil, and the United States. Key brands include LALA®, Nutri®, and Vigor®. Focuses on profitable growth and positioning of value-added products. Has one of Mexico's largest refrigerated distribution networks. Processes over 7 million liters of milk daily in Mexico. Mexico accounts for 83% of its product volume commercialized (as of 2018). Reported a decrease in sales volume in Brazil and the United States in 2023, but Mexico remained the principal region for sales. Reported total revenues of P$98,987m in 2023. Reported net sales of $24,677 million pesos in 4Q23. Mexico accounted for 82.7% of total sales in 2023. HR Ratings estimates total revenues of P$100,721m for 2024.
Constellation Brands: Imports and markets Modelo and Corona beer brands in the United States. Has brewing operations in Mexico to support these exports. Primarily focused on the US market with Mexican beer brands. While not focused on the domestic Mexican market for these brands, their brewing infrastructure and activity in Mexico are substantial within the beverage industry value chain. Volumes related to their export operations from Mexico to the US market are significant, as Modelo Especial became the top selling beer in the US by retail dollar sales in May 2023. Revenue is primarily generated from sales in the United States. Specific revenue generated from their Mexican brewing operations supporting these exports is not provided in the snippets.
Nestlé Mexico: Subsidiary of the global food and beverage company Nestlé S.A. Has a presence in Mexico with a diverse portfolio. Offers a wide range of food and beverage products in Mexico, likely including water (Pureza Vital in partnership with Grupo Modelo), dairy beverages, juices, and coffee. Listed among the top food and beverage companies in Mexico. Specific beverage volumes for Mexico are not provided in the snippets. Specific revenue for Nestlé's beverage operations in Mexico is not provided in the snippets. Global Nestlé revenue is substantial.
Danone Mexico: Subsidiary of the global food company Danone S.A. Has a presence in Mexico, known for dairy and water products. Key products likely include yogurt, dairy-based beverages, and bottled water. Listed as a major player in the functional beverages market globally. Specific beverage volumes for Mexico are not provided in the snippets. Specific revenue for Danone's beverage operations in Mexico is not provided in the snippets.

References

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