Beverage giant Coca-Cola, for the first time is ranging its lime drink Limca to the no-fizz, low-sugar category, with a new brand Limca Sportz, for which it has signed Olympic gold medalist Neeraj Chopra.
The move comes amid an escalation of launches in the healthier space by food and beverage companies globally, as consumers opt for these products, especially after the pandemic.
The electrolyte and glucose beverage is a sports drink and broadens the company’s portfolio beyond fizzy drinks, which currently includes low-sugar juices and Coke Zero.
Coca-Cola delivered its best quarter by volume in April-June and will increase spending significantly over last year in the third and fourth quarters, to sustain growth momentum in the non-summer months.
For soft drinks, the months of April-June contribute over 65% of annual sales of packaged beverages. Out-of-home channels such as restaurants and bars, cinemas, airports, and entertainment complexes account for more than half of soft drink sales, and the quarter also saw demand overtake supplies for many summer-facing products.
The maker of Coke and Sprite fizzy drinks and Maaza mango drink will increase marketing spend in the next two quarters compared to the corresponding year-ago quarter. India is a structural story, economically it is growing and has a large teen population. So our outlook remains positive about demand, especially in the upcoming festive quarter, and we have a lot of headroom for growth, “he said.
In India, Coca-Cola reported its best-ever quarter volumetrically, delivering 1 billion incremental transactions in the quarter led by affordable single-serve packs.