25 April, 2018
Coca-Cola is showing strong growth in India, especially in the sparkling drinks segment, with a positive start to the year. Its growth in India and China in the January-March period outpaced more developed markets such as Japan and Australia.
Coca Cola’s Unit case volume growth of 5 per cent for the quarter was driven by strong performance in China and India, (which was) partially offset by a low single-digit decline in South-East Asia.
Unit case volume means the number of unit cases (or unit case equivalents) of beverages directly or indirectly sold by the company and its bottling partners.
The US-based beverage major also said that the sparkling soft drink portfolio witnessed a double-digit volume growth in India.
James Quincey, President and CEO, The Coca-Cola Company, said: “We’re encouraged with our first quarter performance as we continue our evolution as a consumer-centric, total beverage company. He added that India and China helped accelerate the company’s topline growth. Coca-Cola India has been witnessing strong revenue and volume growth since the second half of 2017, after facing growth pangs for several quarters due to the challenging macro-economic conditions such as demonetisation, GST and lower rural demand.
Coca-Cola has been focusing on launching key innovations in recent times in the country. It has been working on expanding the presence of its ethnic sparkling drink brand Rimzim across the country. It has also launched two new variants of Thums Up.
It is also expanding presence in the sparkling beverages with fruit juices category by adding juices to Sprite and Limca after Fanta.