Boycott of Coke and Pepsi boosts local soda brands in Muslim countries

Sales of Coca-Cola have plummeted in Egypt this year, while local brand V7 tripled its Cola exports across the Middle East. Coca-Cola and PepsiCo, who spent decades investing in Muslim-majority markets like Egypt, are facing consumer boycotts due to long-standing U.S. support for Israel, especially amid the ongoing conflict with Hamas. In 2023, PepsiCo's revenues from its Africa, Middle East, and South Asia division reached $6 billion, while Coca-Cola reported $8 billion. Coca-Cola sales in Egypt dropped by double-digit percentages in the six months following the October 7 Hamas attacks on Israel, according to company data.