Snacks and beverage major PepsiCo on Tuesday said India business clocked a double-digit revenue growth in the June quarter despite macroeconomic headwinds, geopolitical volatility and inflationary pressures. The company also saw market share gains in the snacks segment.
“Our developing and emerging markets remained resilient and delivered double-digit organic revenue growth in the quarter, including double-digit organic revenue growth in Mexico, Brazil, China, South Africa, India, Egypt, Saudi Arabia,” said the management.
“We gained savoury snack share in many of our international markets, including China, the UK, India, Saudi Arabia, Turkey and Australia, and for beverages, we gained market share in Mexico, Brazil, China, Egypt, and Vietnam,” the management added.
Robust sales
After two consecutive washed out summer seasons due to the pandemic waves, the India beverage industry witnessed robust sales due to early onset of summer and normalised operations of the out-of-home channels. In-line with these trends, PepsiCo said its beverage unit volume grew by 28 per cent in the Africa, Middle East and South Asia (AMESA) region in the June quarter, “primarily reflecting double-digit growth in India.”
In terms of snacks volumes, the company added that in AMESA region, convenient foods unit volume grew 10 per cent, primarily reflecting double-digit growth in the Middle East and India.
The company has been ramping up its snacks production capacity in recent times. Earlier this month, PepsiCo India had said it is making additional investments of ₹186 crore in its greenfield food manufacturing plant in Uttar Pradesh that makes Lay’s Potato Chips. With this the company’s total investment in the plant now stands at ₹1,022 crore.