India posts strong growth for Coca-Cola Inc in Q3CY21
The company said that nutrition, juice, dairy and plant-based beverages' grew 12 per cent due to solid performance by Minute Maid Pulpy in China, Maaza in India and Del Valle in Mexico
India has emerged as one of the fastest growing markets for Coca-Cola Inc during the third quarter of the current year.
Accordingly, the country posted strong growth number for Coca-Cola Inc in Q3CY21.
"Coca-Cola India is emerging stronger at the back of strong recovery in 'away-from-home' channels with improved mobility and focus on affordability and omni-channel growth through B2B," the total beverage company said in its quarterly results.
Besides, the quarterly results report, cited that bottling investments group performance was driven by India.
"Strong growth in India and South Africa was partially offset by pressure in Southeast Asia due to the impact of the pandemic."
Amongst brands, the results report said that Maaza in India continued to strengthen its leadership position.
"Maaza continues to post solid performance consistently (in all quarters of 2021) while brands like Coca-Cola and Thums Up also grew at the back of effective market activations."
In fact, Coca-Cola India was credited with lifting Asia Pacific region's unit case volume growth which rose by 3 per cent in the quarter.
"This growth was led by developing and emerging markets like India and China, partially offset by pressure in Southeast Asia due to the impact of the pandemic."
"Both the markets are paving the way for the growth of Coca-Cola globally in 2021 with their solid, consistent performance."
On the global level, the results showed that overall sparkling soft drinks grew 6 per cent resulting in volume ahead of 2019, driven by strong performance across all geographic operating segments.
In addition, it said that anutrition, juice, dairy and plant-based beverages' grew 12 per cent due to solid performance by Minute Maid Pulpy in China, Maaza in India and Del Valle in Mexico.