Unfortunately for PepsiCo, Coca-Cola is the winner of that battle of the beverages, with the Pepsi brand having now fallen all the way to No. 3, trailing just slightly behind Keurig Dr.
But, overall, Coca-Cola is the stronger beverage maker. It's lucky for PepsiCo that beverages are just one slice of the company's business, especially since the Pepsi brand has fallen to No.