Despite a sluggish season for summer beverages due to an early monsoon and a broader FMCG slowdown, Coca-Cola remains optimistic about the Indian market. Global chief operating officer Henrique Braun emphasized the resilience of Indian consumer demand and said the company continues to grow strongly, even as other sectors face headwinds.
“We continue to see resilient demand in India,” Braun stated during a media interaction. “Summer is still a key season globally, but what matters is the full-year equation — the ability to create consumption moments throughout the year and reduce reliance on seasonal peaks.”
Braun’s comments come at a time when the overall FMCG sector is showing signs of fatigue. According to data from Kantar, FMCG volume growth in India fell to a two-year low of 3.5% in the March quarter. However, Coca-Cola bucked the trend, posting double-digit volume growth, primarily driven by robust inventory stocking ahead of summer.
India experienced its earliest monsoon onset since 2009, which dented peak-season sales of summer products like colas and ice creams. But Coca-Cola’s leadership remains confident, highlighting how a shift toward an “all-weather” consumption mindset could help reduce seasonal dependency.
The Atlanta-headquartered beverage major, which owns brands like Thums Up, Sprite, and Maaza, also noted that traditional market assessments may not fully reflect the evolving consumption landscape, particularly the role of e-commerce and quick commerce in urban areas.
“India has accelerated tremendously in digitisation. Quick commerce, especially, is unique and fast-evolving here,” said Braun. “It’s not fully captured in standard market measurements, but it’s expanding every time I visit.”
India is currently Coca-Cola’s fifth-largest market by volume globally. As consumer preferences continue shifting, the company is actively diversifying its portfolio beyond traditional sodas and sugary juices to include low-calorie and functional beverage options globally and within India.
Despite seasonal challenges, Coca-Cola’s upbeat outlook reflects the long-term potential it sees in India’s dynamic, digitally driven, and increasingly urban consumer base.