PepsiCo's Indian division sees double-digit revenue surge

Snacks and beverage giant PepsiCo said the beverage segment garnered double-digit volume growth in India in the third quarter. Although, snack volumes witnessed a decline as the company released its global earnings for the period on Tuesday, 10 October 2023.

12 Oct 2023 | By Aditya Ghosalkar

In Q3, PepsiCo said that the beverage unit volume in the region grew three per cent, reflecting double-digit growth in India

PepsiCo India has been in the news since September 2023, the beverage major had announced its first food manufacturing plant in Nalbari, Assam with an investment of INR 778-crore. Spread over 44.2-acre, the new plant aims to generate direct and indirect employment for 500 people and is proposed to be operational in 2025.

Meanwhile PepsiCo’s net revenue for the March quarter notched up USD 17.85 billion, up 10.2% versus the previous year, led largely by price-led growth. In 2022, PepsiCo generated more than USD 86 billion in net revenue.

The company has established a foothold in the Africa Middle East South Africa (AMESA) region, driven by a beverage and convenient foods portfolio that includes Lay's, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, and Quaker.

In the third quarter, PepsiCo said that the beverage unit volume in the region grew three per cent "primarily reflecting double-digit growth in India" and mid-single-digit growth in South Africa and India.

However, the company added that it saw share gains in markets. like India in the savoury snacks segment. "On a year- to-date basis, we have gained savoury snack share in many of our international markets, including China, India, Turkey, Netherlands, South Africa and Belgium," the company added.

In July 2023, the company earned the title of ‘the first brand in India to launch 100 percent recycled-PET (rPET) in the carbonated beverage category’. The Pepsi black rPET bottles are manufactured in India, in partnership with Srichakra Polyplast (India) and with the bottling partner, Varun Beverages.

''We believe our businesses can continue to perform well with numerous investments in our brands, manufacturing capacity, go-to-market systems, supply chain, technology, and people, to execute against our strategic framework and modernise our company,'' says Ramon Laguyarta, chairman and CEO, PepsiCo.

Tags : PepsiCo
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