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Beverage major Coca-Cola said on Tuesday that its India business witnessed double-digit volume and topline growth in the third quarter, leading to an increase in its value share in the market. It added that it is ramping up the availability of its products in the rural region .The company, which released its global earnings for the third quarter, added that growth in developing and emerging markets was led by India and the Philippines.
On an earnings call, James Quincey, Chairman and CEO of the Coca-Cola Company, said: “In India, we delivered double-digit volume and topline growth, which resulted in the highest value share gains over the past three years. We are winning in the marketplace by generating 2.6 billion transactions at affordable price points and driving availability across rural regions.”
The beverage major noted that consumer sentiment varies around the world, and has been mixed in developing and emerging markets. “We are seeing…broadly consumer strength across Latin America, India, and in parts of Central and Southeast Asia,” the company’s management noted.
unit case volume
In its earnings statements, the beverage major said its consolidated unit case volume grew 2 per cent for the third quarter.
Talking about the performance in the Asia-Pacific region, the company said: ”Unit case volume was even, as growth in trademark Coca-Cola and other beverage categories was offset by a decline in water. Growth in India and the Philippines was offset by decline in China and Indonesia.”
In terms of the company-owned bottling operation(Botting Investments Group), the beverage major said unit case volume grew 2 per cent, primarily driven by growth in India and the Philippines.
“Following authorisation for the use of recycled PET bottles in several markets over the past year, including India in February, at least one of the company’s beverages is now available in 100 per cent rPET, excluding cap and label, in India, Indonesia, Thailand and Türkiye,” the company added in its earnings statement. Earlier this month, the beverage major had said that it has launched brand Coca-Cola in rPET in pack sizes of 250 ml and 750 ml.
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