Based in Atlanta, the multinational reported a 12% rise in net revenue amounting to $12.5 billion for the same period, attributing the growth primarily to China, the United States, and India.
Nonetheless, the Indian market showed a downturn in the non-alcoholic ready-to-drink (NARTD) sector, which includes categories like fruit juices, energy drinks, sports beverages, and dairy alternatives.
Unit case volume indicates the total number of beverage unit cases sold directly or indirectly by the company and its bottling partners to consumers.
The Coca-Cola Company emphasized its commitment to achieving “more balanced growth” by focusing on consumer needs. In markets such as South Africa and India, the company has expanded its use of ultra-lightweight bottles, fostering volume growth in these regions.
India ranks as the fifth-largest market for Coca-Cola.
During the post-results investor call, CEO Henrique Braun stated: “In India, we enhanced affordability and connected our brands with key consumer events, such as linking Thums Up with the T20 cricket world cup. We also broadened Sprite’s reach into rural areas with content designed for local languages.” In the Asia Pacific region, which encompasses India, unit case volume grew by 5%, benefiting from expansion across all beverage categories. The revenue for this zone reached USD 1.5 billion, an increase of 6.1%.
However, Braun noted: “Our value share in the total NARTD drinks category remained stable, as gains in Japan and South Korea balanced out declines in India and Vietnam.” Responding to inquiries about the Asia Pacific and Indian markets, Braun reiterated that India is a long-term growth opportunity for Coca-Cola.
According to Braun, India presents a unique chance for the company to engage with consumers through a varied portfolio, including long-established local brands that continue to bolster its market position.
“In India, it is crucial to invest for the long term, especially with local brands in our portfolio acquired years ago, enabling us to connect with consumers in a distinctly meaningful way,” he remarked.
Nevertheless, he acknowledged that the company still has considerable progress to make in establishing a fully mature market framework in India, particularly regarding revenue growth management (RGM) and development capabilities.
“We are committed to building for the long term… but we are still quite far from achieving the level of maturity in our overall RGM architecture and development capabilities that we aspire to,” Braun concluded.
