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PepsiCo is the second largest food and drinks company in the world, with a market capitalisation of $233bn (€197bn) as of February 2026.
Despite the name, and its association to drinks, over half of PepsiCo’s revenue actually comes from snacks, such as Lay’s, Doritos and Quaker Oats. The iconic namesake has also spawned a variety of other drinks, including their most popular beverage in Europe: Pepsi Max.
Eugene Willemsen, CEO of International Beverages at PepsiCo, who is responsible for all beverages outside of the US market, joined Jane Witherspoon on this episode of The Big Question to discuss the trends shaping the drinks industry right now.
Digitalisation transforming PepsiCo’s business
Having spent over 30 years at PepsiCo, Eugene has witnessed great changes in the industry.
“I just look at the whole go-to market for our business and that has evolved tremendously,” Eugene explained.
“You now have e-commerce, which is growing very rapidly across the world. Quick commerce, which is an offshoot of e-commerce with very rapid delivery, and so on.”
“There have also been massive changes in terms of how consumers interact with brands. When I started my career, life was pretty simple as a marketer. You only had a few channels. You created two or three big TV commercials per year. Those were broadcasted through mass media. Now, obviously, you have social media as the predominant channel with which consumers engage, but also through which consumers create their own content.”
Above all, Eugene stressed the importance of affordability.
‘We are always aiming to…ensure that we have an entry price point which enables consumers to get into the category, get into our brands, and then obviously we offer different price points for different occasions and for different need states.’
How will AI change the drinks industry?
Eugene is also excited about the possibility for AI to help PepsiCo improve and streamline its processes.
PepsiCo works with around 100,000 farmers worldwide to produce its products, and the firm is using AI to reduce the environmental impact of its producers’ activities.
“In India, we have about 27,000 farmers that we source our potatoes and other crops from,” Eugene explained.
“So, with these farmers, on their smart phone, we installed apps that allow them to improve farming practices. This includes reducing water usage and reducing the use of fertiliser.
“It also helps increase the yields for these farmers, and their income.”
The Big Questionis a series from Euronews Business where we sit down with industry leaders and experts to discuss some of the most important topics on today’s agenda.
Watch the video above to see the full discussion with PepsiCo’s Eugene Willemsen.
Additional sources • Edited by Arno Aubert