Mumbai: PepsiCo India has seen double-digit volume growth in the Convenient Foods and the beverage categories in Q2 2024. There was also high-single-digit organic revenue growth.
During PepsiCo’s Q2 2024 Earnings call, Ramon Laguarta, chairman, CEO PepsiCo said, “We continue to see a lot of growth in many parts of AMESA region, particularly India is a big growth space of us and is an investment area. The opportunity is massive, if you take a decade’s perspective and we are putting a lot of infrastructure on ground, investing in the brands to make sure we can build scale to capture what is going to be a high-demand market for many years.”
Convenient foods unit volume grew by 1%, primarily reflecting double-digit growth in India and low-single digit growth in South Africa, partially offset by a double-digit decline in the Middle East and a low-single digit decline in Pakistan.
Beverage unit volume grew by 2%, primarily reflecting double-digit growth in India. This was partially offset by a high-single-digit decline in Pakistan, a low-single-digit decline in the Middle East and a mid-single-digit decline in Nigeria.
For the second quarter, developing and emerging markets such as Egypt and Poland each delivered double-digit organic revenue growth. India and Brazil delivered high-single-digit growth, Thailand, and Pakistan each delivered mid-single-digit growth while Mexico and South Africa delivered low-single-digit growth.
Year-to-date, the company held or gained savory snack share in India, China, Brazil, Australia, and Pakistan. For beverages, it held or gained share in Australia, South Korea, China, Thailand, Pakistan, Egypt, Vietnam, Saudi Arabia, the UK and Brazil.
