Soft drinks: Cost of goods sold dashboard 2H 2025

Our first Soft drinks COGS dashboard shows that average costs per hectoliter have recently been very stable and are virtually unchanged from two years ago. However, beneath this stability, individual categories, countries, and packaging formats have experienced significant fluctuations: Wages and packaging material costs have risen, while prices for agri commodities and natural gas have declined. Looking forward, we expect volatility to persist, compounded by tariffs and climate events, reinforcing the need for diversification and operational flexibility.