Dew, I'd guess PEP and KO are selling a lot of bottled water and bottled fruit juices. Also, 3rd world countries are selling more? Coca-Cola HBC reports good growth led by Nigeria and Romania By Jenny Eagle+, 16-Feb-2017 Coca-Cola Hellenic Bottling Company (HBC), a bottler of The Coca-Cola Company, has reported its financial results for the full year ended 31, December 2016. http://www.beveragedaily.com/Markets/Coca-Cola-HBC-reports-good-growth-led-by-Nigeria-and-Romania https://www.google.com/search?q=pepsi+water+products&espv=2&biw=1366&bih=638&tbm=isch&tbo=u&source=univ&sa=X&ved=0ahUKEwjlkOiPgZXSAhXENSYKHcD4AuIQsAQIbQ