Mexican soft drink companies exceed $65.29 billion in market value.

Dora Villanueva

La Jornada Newspaper, Monday, September 8, 2025, p. 21

Our country is one of the largest markets for soft drinks, with the average Mexican consuming 166 liters per year, according to the Ministry of Health. It is also the nation with three of the largest soft drink companies by market value, according to stock market data as of September 7.

In a business valued globally at 1.96 billion pesos, derived from the 115 largest beverage companies in the world, Mexico has three that make it into the top 25.

Mexican Economic Development (Femsa) is ranked 14th in market size, while Coca-Cola Femsa and Arca Continental are ranked 24th and 25th, respectively; together, the three have a market value of $65.29 billion.

These last two are part of the International Council of Beverage Associations (ICBA), the main arm of the world's soft drink companies to try to debate official discussions or positions that scrutinize the impact of their products on society.

World Bank recommends taxes

In one of its most recent attempts, ICBA pointed out that the proposal to increase taxes on sugary and alcoholic beverages could not be considered an "official pronouncement" of the World Bank, given the disclaimer included in all of the multilateral organization's publications.

"The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of the World Bank, its Board of Executive Directors, or the governments they represent," a statement that appears in every publication of the international financial institution. This statement, in fact, is taken verbatim from its most recent Global Economic Outlook , one of its flagship reports.

The ICBA argued that given this disclaimer, the tax increase proposal was not the World Bank's, while noting the involvement of the Global Tax Program, a partner of the multilateral organization, in publishing the knowledge notes on healthy taxes.

However, in its review of the study Exploring Healthy Taxes , the international organization states: “The World Bank proposes a healthy tax package that seeks to improve the country's health and fiscal resources. The main ideas include: adjusting the specific tax on cigarettes, sugary drinks, and alcohol as follows: 3 pesos per cigarette; 0.12 pesos per gram of sugar in sugary drinks; and 0.75 pesos per milliliter of pure alcohol in alcoholic beverages. Simplify the ad valorem tax on alcohol. Incorporating these measures into the 2026 Federal Revenue Law helps prevent diseases, maintain the sustainability of the health system, and increase the fiscal resources available for the well-being of all,” the organization states textually on its digital portal ( bit.ly/4nnSWvm ).

The federal government has pointed out that soft drink consumption in Mexico is one of the highest in the world ( bit.ly/4p35REq ), which generates a series of diseases that pressure health systems, and as part of the 2026 Economic Package, the Legal Counsel of the Presidency announced that the Treasury proposal will involve "a lot of lobbying" with soft drink companies ( bit.ly/4pd6xHs ).

ICBA's key members include Red Bull, American Beverage Association, Keurig Dr Pepper, Monster Energy, PepsiCo, The Coca-Cola Company, IBA (Indian Beverage Association), JSDA (Japan Soft Drink Association), and Coca-Cola Europacific Partners.

▲ The Mexican government's 2025-2030 Infrastructure, Communications, and Transportation Sector Program establishes the construction of more than 3,000 kilometers of new passenger rail lines, which will boost regional development and benefit more than 49 million people. Currently, less than 10 percent of the rail network is used for passenger service. Photo: Luis Castillo

La Jornada Newspaper, Monday, September 8, 2025, p. 21