Coca-Cola Market Share Falls in Pakistan, Turkey Over Boycotts

Coca-Cola market share has slipped in both Turkey and Pakistan as boycott campaigns targeting Western brands linked to Israel continue to reshape consumer behavior in the region.

Fresh data released last month showed that in Turkey, the company’s share of the sparkling beverages market dropped to 54% from 59%. In Pakistan, Coca-Cola market share fell to 43% from 47%. Smaller declines were also seen in Kyrgyzstan, Jordan, and Uzbekistan.

Hasnain Malik, head of equity strategy research at Tellimer Technologies Ltd., noted that these boycotts are clearly reshaping consumer trends. He said the shift provides long-term opportunities for local competitors unless public perception changes.

At the same time, the company is navigating wider economic pressures. Second-quarter net income declined 31% to 5.1 billion liras ($124 million), although results still surpassed analyst expectations.

CEO Karim Yahi previously admitted that the Middle East conflict has weighed on performance, though he emphasized that overall sales volumes remain in growth and the company’s dominance in Central Asia offers resilience.

In Pakistan, local players like Cola Next and in Bangladesh, brands such as Mojo, have begun to capture some market share. Even so, analysts believe Coca-Cola’s strong global recognition will allow it to recover.

“Most people who intended to boycott Western brands have already done so,” said Alex Dray, director of emerging markets research at Gimme Credit. “Consumers are likely to return once the conflict comes to an end.”