The multinational beverage giant, The Coca-Cola Company, reported a 2% growth in unit case volume for Q2 2024, propelled by significant contributions from India, Brazil, and the Philippines. India, the company’s fifth-largest market, has been at the forefront of this growth, thanks to innovative packaging solutions that have generated over 400 million transactions in the first half of the year.
Coca-Cola’s introduction of ultra-lightweight, affordable bottles with extended shelf life has been a game-changer. These bottles are now available in over half of India’s commercial beverage outlets, allowing the company to reduce costs and reach more consumers.
The Asia Pacific region saw a 3% increase in unit case volume, driven by strong performances in sparkling flavours and trademark Coca-Cola, particularly in India and the Philippines.
Overall, Coca-Cola’s net revenues for Q2 2024 grew by 3%, reaching $12.4 billion. CEO James Quincey expressed satisfaction with the results, highlighting the company’s solid top-line and operating income growth amidst a dynamic market landscape.
In addition to the innovative packaging, Coca-Cola recorded a net gain of $290 million related to the refranchising of its bottling operations in certain territories in India during the first half of the year. This move, along with other strategic initiatives, underscores Coca-Cola’s commitment to enhancing its market presence and operational efficiency in the region.