After Thums Up and Sprite, Maaza is Coca Cola India's next $1 billion bet

After hitting the milestone with Sprite and Thums Up, Coca-Cola India is now aiming to take Maaza to $1 billion in annual sales by 2024. Earlier in 2022, Thums Up became the first Indian brand from the company's Indian portfolio to touch $1 billion in sales, a report in Mint said. 

"We would love to have one juice brand getting into that ($1 billion portfolio) very clearly—that’s our ambition. It may take a little bit longer, may not be by next year. Because one of the issues which happened is that this year, the mango crop has fallen, and the price of mango is obnoxiously high. We have done good work in building operations for Maaza. If it happens, it’s good but definitely, it will happen by 2024; if it happens by 2023 it will be a bonus," Sanket Ray, president for India and South-West Asia, Coca-Cola, said, as quoted by Mint. 

In September, Sprite followed Thums Up to reach the $1 billion milestone. The company stated that the growth in sales has been driven by smaller pack sizes and a greater focus on occasion-based drinking. The company has raised its stake in the Indian market after the easing of Covid-19 restrictions and the spurt in demand for beverages.  

According to the report, the company is planning to invest more in marketing in the second half of FY23 to drive up sales next summer. The bottling capacity has been raised by 30-40 per cent and is expected to be completed by March 2023. 

The company also said that it is trying not to pass inflationary pressures on to consumers wherever possible.