Soft Drink Manufacturers NAICS 312111

Dec 21, 2025 - Unfair Pricing?

• Antitrust regulators alleged in a recently unsealed lawsuit that PepsiCo worked to keep its soda prices higher at many stores to protect Walmart’s lower prices, The Wall Street Journal reports. The lawsuit described PepsiCo’s efforts to favor Walmart, which accounted for 14% of its net revenue in 2024, as a long-term practice. The FTC made the allegations in a filing in a federal court in New York City during the final days of the Biden administration that was later dismissed by the Trump administration. Still, the case highlights growing federal scrutiny of price discrimination and promotional allowances, indicating that manufacturers may face tighter oversight of how they negotiate with major retailers. If regulators push for stricter compliance with the Robinson‑Patman Act, which forbids suppliers from selling goods at different prices to retailers, producers could lose flexibility in offering customized discounts, promotional funding, or volume‑based deals to large chains.
• Sales of so-called "modern soda" rose 83% from 2023 to 2024, from $983 million to $1.8 billion, according to market research firm Circana. Modern refers to newer carbonated soft drink brands like poppi (acquired by PepsiCo in May for $1.95 billion) and Olipop that appeal to consumers looking for an alternative to legacy soft drinks. “Products in this newly defined modern soda category share carbonation and some flavor profiles with traditional sodas, but they’re distinct in several ways,” explains Circana’s Daniel Joyner, adding “These beverages are typically sweetened with stevia, cane sugar or real juice, and often marketed on digestive, functional benefits, or better-for-you attributes.” In terms of market share, Circana lists the brands as follows: poppi (38%), Olipop (32.7%), Zevia (12.1%), Jarritos (10.3%), Fever Tree (4%) with all others accounting for 2.9%.

• The new higher 50% tariff on US aluminum imports imposed by the Trump administration will increase the cost of beverage cans and could raise the retail price of the soda and beer they contain. Beverage giant Coca-Cola said the new tariffs will increase the cost of beverage cans it sells in the US. However, Coke’s CEO James Quincey said the company has strategies to adapt, including shifting to more PET plastic bottles and raising prices. It can also make changes to its supply chain and use hedging on key materials — including aluminum — to manage costs and supply, he told analysts on a recent conference call. Aluminum beverage cans are popular because they’re lightweight and recyclable. According to the American Beverage Association, in 2018 when Trump set aluminum tariffs at 10%, they added half a billion dollars to production costs. The metals tariff is set to take effect March 12.
• Producer prices for soft drink manufacturers reached a new high in September, up 2.7% compared to a year ago, after rising 4.5% in the previous September-versus-September annual comparison, according to the latest US Bureau of Labor Statistics data. Prices soft drink makers charge for their products have been rising steadily since mid-2021 to recent record high levels. The 50% tariff on imported aluminum used for soda cans is driving up costs for producers and, ultimately, consumer prices. In September, retail prices for carbonated drinks rose 3.6% year over year and 1.1% month over month, per the BLS. Meanwhile, employment by soft drink manufacturers grew 1.4% in August to a new high for the industry.