PepsiCo Inc
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of PepsiCo Inc (PEP). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| PepsiCo Beverages North America [Member] | $22.56B 32.1% | $25.28B 31.8% · +12.0% | $26.21B 30.3% · +3.7% | $27.63B 30.2% · +5.4% | $27.77B 30.2% · +0.5% | $28.20B 30.0% · +1.5% |
| PepsiCo Foods North America [Member] | – | – | – | $28.02B 30.6% | $27.43B 29.9% · -2.1% | $27.53B 29.3% · +0.4% |
| Europe, Middle East & Africa (Segment) [Member] | – | – | – | $16.21B 17.7% | $16.66B 18.1% · +2.8% | $18.03B 19.2% · +8.2% |
| Latin America Foods (Segment) [Member] | – | – | – | $10.58B 11.6% | $10.57B 11.5% · -0.1% | $10.55B 11.2% · -0.2% |
| International Beverage Franchise [Member] | – | – | – | $4.56B 5.0% | $4.88B 5.3% · +7.0% | $5.00B 5.3% · +2.4% |
| Asia Pacific Foods (Segment) [Member] | – | – | – | $4.49B 4.9% | $4.55B 5.0% · +1.4% | $4.63B 4.9% · +1.8% |
| Frito Lay North America [Member] | $18.19B 25.8% | $19.61B 24.7% · +7.8% | $23.29B 27.0% · +18.8% | – | – | – |
| Quaker Foods North America [Member] | $2.74B 3.9% | $2.75B 3.5% · +0.3% | $3.16B 3.7% · +14.9% | – | – | – |
| Latin America | $6.94B 9.9% | $8.11B 10.2% · +16.8% | $9.78B 11.3% · +20.6% | – | – | – |
| Europe | $11.92B 16.9% | $13.04B 16.4% · +9.4% | $12.72B 14.7% · -2.4% | – | – | – |
| Africa, Middle East and South Asia [Member] | $4.57B 6.5% | $6.08B 7.6% · +32.9% | $6.44B 7.5% · +5.9% | – | – | – |
| Asia Pacific, Australia and New Zealand, and China Region [Member] | $3.45B 4.9% | $4.62B 5.8% · +34.0% | $4.79B 5.5% · +3.7% | – | – | – |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| PepsiCo Beverages North America [Member] | $1.94B 8.6% | $2.44B 9.7% | $5.43B 20.7% | $2.58B 9.4% | $2.30B 8.3% | $1.09B 3.9% |
| PepsiCo Foods North America [Member] | – | – | – | $7.25B 25.9% | $6.62B 24.1% | $6.17B 22.4% |
| Europe, Middle East & Africa (Segment) [Member] | – | – | – | $1.76B 10.9% | $1.97B 11.8% | $2.11B 11.7% |
| Latin America Foods (Segment) [Member] | – | – | – | $1.90B 17.9% | $2.05B 19.4% | $2.01B 19.1% |
| International Beverage Franchise [Member] | – | – | – | $567.0M 12.4% | $1.46B 30.0% | $1.77B 35.4% |
| Asia Pacific Foods (Segment) [Member] | – | – | – | $301.0M 6.7% | $377.0M 8.3% | $369.0M 8.0% |
| Frito Lay North America [Member] | $5.34B 29.4% | $5.63B 28.7% | $6.14B 26.3% | – | – | – |
| Quaker Foods North America [Member] | $669.0M 24.4% | $578.0M 21.0% | $604.0M 19.1% | – | – | – |
| Latin America | $1.03B 14.9% | $1.37B 16.9% | $1.63B 16.6% | – | – | – |
| Europe | $1.35B 11.3% | $1.29B 9.9% | -$1.38B -10.8% | – | – | – |
| Africa, Middle East and South Asia [Member] | $600.0M 13.1% | $858.0M 14.1% | $666.0M 10.3% | – | – | – |
| Asia Pacific, Australia and New Zealand, and China Region [Member] | $590.0M 17.1% | $673.0M 14.6% | $537.0M 11.2% | – | – | – |
Large figure: segment operating income. Below it the margin, that is operating income measured against the revenue of the same segment.
Revenue by region
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| UNITED STATES | $40.80B 58.0% | $44.55B 56.0% · +9.2% | $49.39B 57.2% · +10.9% | $52.17B 57.0% · +5.6% | $51.67B 56.3% · -1.0% | $52.23B 55.6% · +1.1% |
| All Other Countries [Member] | $14.75B 21.0% | $15.48B 19.5% · +4.9% | $15.83B 18.3% · +2.3% | $16.87B 18.4% · +6.6% | $17.02B 18.5% · +0.9% | $17.94B 19.1% · +5.4% |
| MEXICO | $3.92B 5.6% | $4.58B 5.8% · +16.7% | $5.47B 6.3% · +19.5% | $7.01B 7.7% · +28.1% | $7.12B 7.8% · +1.6% | $6.95B 7.4% · -2.5% |
| RUSSIAN FEDERATION | $3.01B 4.3% | $3.43B 4.3% · +13.9% | $4.12B 4.8% · +20.2% | $3.57B 3.9% · -13.4% | $3.88B 4.2% · +8.8% | $4.77B 5.1% · +22.9% |
| CANADA | $2.99B 4.2% | $3.41B 4.3% · +13.9% | $3.54B 4.1% · +3.8% | $3.72B 4.1% · +5.3% | $3.76B 4.1% · +1.1% | $3.73B 4.0% · -0.9% |
| CHINA | $1.73B 2.5% | $2.68B 3.4% · +54.7% | $2.75B 3.2% · +2.7% | $2.70B 3.0% · -1.8% | $2.71B 2.9% · +0.2% | $2.62B 2.8% · -3.2% |
| UNITED KINGDOM | $1.88B 2.7% | $2.10B 2.6% · +11.7% | $1.84B 2.1% · -12.3% | $1.95B 2.1% · +5.5% | $2.06B 2.2% · +6.0% | $2.14B 2.3% · +3.8% |
| BRAZIL | – | $1.25B 1.6% | $1.62B 1.9% · +29.2% | $1.78B 1.9% · +10.0% | $1.77B 1.9% · -0.8% | $1.78B 1.9% · +1.0% |
| SOUTH AFRICA | $1.28B 1.8% | $2.01B 2.5% · +56.6% | $1.84B 2.1% · -8.5% | $1.71B 1.9% · -7.1% | $1.86B 2.0% · +8.9% | $1.77B 1.9% · -4.9% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: August 7, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.