The competition in India’s soft drinks market is heating up as major players Coca-Cola, PepsiCo, and Campa-owner Reliance prepare for an aggressive summer season with expanded distribution and manufacturing capacities.
Jubilant Bhartia Group recently acquired a 40% stake in Coca-Cola India’s bottling arm, Hindustan Coca-Cola Beverages (HCCB), for ₹12,500 crore, marking a strategic shift in the bottling landscape. Meanwhile, Reliance Consumer Products (RCPL) is ramping up efforts to push its Campa brand into northern and western markets via multiple channels, including quick commerce platforms like Swiggy Instamart. The company continues to leverage competitive pricing and higher trade margins to gain market share.
PepsiCo’s bottling partner, Varun Beverages (VBL), has raised ₹7,500 crore through Qualified Institutional Placements (QIP) to support its expansion plans. The funds will be used to grow existing operations, invest in subsidiaries, and enhance infrastructure, including the installation of new visi-coolers to meet rising demand. Additionally, VBL recently acquired a 39.93% stake in Lunarmech Technologies for ₹200 crore, further strengthening its supply chain.
Bisleri International is also diversifying its offerings, with products like Limonata, Rev, Pop, and Spyci Jeera catering to India’s growing carbonated beverage market. “We are expanding our portfolio to meet increasing consumer demand,” said Angelo George, CEO of Bisleri International.
According to an ICRIER report, India’s non-alcoholic beverage market is projected to grow from ₹67,100 crore in 2019 to ₹1.47 lakh crore by 2030. Carbonated drinks and bottled water continue to dominate the sector, with rising household penetration and demand for packaged beverages.
Coca-Cola’s franchise bottler, Moon Beverages, recently acquired the beverage giant’s bottling operations in Jharkhand, further consolidating its position in the region. This move aligns with Coca-Cola’s strategy to optimize investments and streamline operations across its key markets.
With robust investments, strategic acquisitions, and market-focused expansions, the soft drinks industry in India is set for an intense and competitive growth phase in 2025.