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During the peak of the cola wars, as Coca-Cola saw its flagship product losing market share to Pepsi as well as to Diet Coke and competitors' products, the company considered a change to the beverage's formula and flavor. In April 1985, The Coca-Cola Company introduced its new formula for Coca-Cola, which became popularly known as "New Coke".
Pepsi briefly took the top spot in the 1980s during Coca-Cola's New Coke fiasco, according to Beverage Digest. ... Pepsi had 13.5% market share compared to market share of just 6.3% for Dr Pepper ...
As a result, Pepsi's market share as compared to Coca-Cola's shot up dramatically in the 1950s with African American soft-drink consumers three times more likely to purchase Pepsi over Coke. [35] After the sales team visited Chicago, Pepsi's share in the city overtook that of Coke for the first time. [32]
As of February of 2023, Coca-Cola had a market cap of $256.10 billion whereas Pepsi had a market cap of $241.72 billion. These projections fluctuate. These projections fluctuate. Coke vs Pepsi ...
PepsiCo's flagship product, Pepsi Cola has been engaged in a rivalry for generations with Coca-Cola; it is commonly referred to as the cola wars. Although Coca-Cola outsells Pepsi Cola in the United States, PepsiCo within the North American market is the largest food and beverage company by net revenue.
Of the two, only Pepsi has exposure to food through brands such as Frito-Lay and Quaker as well as international food brands, and its beverage portfolio is less concentrated in soda than Coca-Cola's.
By 1985, Coca-Cola had been losing market share to diet soft drinks and non-cola beverages for several years. Blind taste tests suggested that consumers preferred the sweeter taste of the competing product Pepsi-Cola, and so the Coca-Cola recipe was reformulated. The American public reacted negatively, and New Coke was considered a major failure.
Despite PepsiCo's net sales being nearly double those of Coca-Cola, it has a smaller market capitalization of $243.9 billion compared to Coca-Cola's $306.8 billion.