Coca-Cola Company (The)

Coca-Cola’s competitive position rests on multiple reinforcing moats. Intangible assets: the Coca‑Cola trademarks and ~30 billion‑dollar brands with 2.2 billion daily servings underpin durable consumer preference.

Cost and scale advantages: the asset‑light concentrate model delivers high structural margins and returns, while bottling partners provide efficient local manufacturing and last‑mile distribution at global scale.

Efficient scale and shelf access: the system’s cooler fleet, route‑to‑market depth, and longstanding retailer relationships create high barriers to entry. These moats have strengthened as concentrate operations rose to 59% of net revenue in 2024 following refranchising.

Erosion risks include sugar taxes, plastic and water regulation, FX shocks, and health trends, but brand breadth and zero‑sugar growth help defend demand.