 "Coca Cola")
Coca-Cola witnessed volume growth in India in the October-December quarter, the company said in its earnings release.
While unit case volume grew 2 per cent for the quarter, the Atlanta-based fizzy drinks maker saw its volume in developing and emerging markets grow 4 per cent during the same period, driven by growth in Brazil and India.
'For the full year, unit case volume grew 2 per cent. Developed markets grew 1 per cent, driven by growth in Mexico and Germany. Developing and emerging markets grew 2 per cent, driven by growth in India and Brazil, partially offset by the suspension of business in Russia in 2022,' the company said in its earnings release.
In the Asia Pacific market, its unit case volume grew 2 per cent for the quarter, primarily driven by growth in juice, value-added dairy and plant-based beverages, and sparkling flavours. 'Growth was led by India and China,' the company added.
It also said that in the non-alcoholic ready-to-drink beverages (NARTD) segment, the company gained value share, led by share gains in India, the Philippines, South Korea, and Japan.
In bottling investments, Coca-Cola’s unit case declined 1 per cent for the quarter, as growth in India and the Philippines was more than offset by the impact of refranchising bottling operations.
In its Q4 results, rival beverage giant PepsiCo had posted a double-digit volume growth in the beverages category in India.
