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Coca-Cola registers strong growth in Indian market in Q1 

Coca-Cola registers strong growth in Indian market in Q1 

Published:19 April 2021

Global soft drink major Coca-Cola Company on Monday said its India business witnessed "strong growth" in the first quarter, helped by its sparkling soft drinks portfolio and fruit drink brand Maaza.

New Delhi | Global soft drink major Coca-Cola Company on Monday said its India business witnessed "strong growth" in the first quarter, helped by its sparkling soft drinks portfolio and fruit drink brand Maaza.
The Coca-Cola Company, in its global earnings released on Monday, said sparkling soft drinks grew 4 per cent as there was solid growth in China and India.
"Strong growth in developing and emerging markets, led by China and India, was offset by pressure in developed markets, primarily the United States and Western Europe," it said further in its post-earnings statement.
In the Asia Pacific Market, which includes India, Coca-Cola's unit case volume grew 9 per cent.
"Unit case volume grew 9 per cent, as strong growth in China and India was partially offset by coronavirus-related pressure in Japan and Southeast Asia," it said.
Unit case volume means the number of unit cases of company beverages directly or indirectly sold by it and its bottling partners to customers.
"Nutrition, juice, dairy and plant-based beverages grew 3 per cent due to solid performance by Minute Maid Pulpy in China and Maaza in India,” it added.
India is the fifth-largest market for Coca-Cola globally.
On its bottling investments, Coca-Cola said "unit case volume grew 5 per cent, primarily due to solid growth in sparkling soft drinks in India and South Africa." Overall, the Atlanta-headquartered company's net revenues grew 5 per cent to USD 9 billion, and organic revenues (non-GAAP) grew 6 per cent.
"This was driven by 5 per cent growth in concentrate sales, while price/mix grew 1 per cent. The quarter included five additional days, which resulted in an approximate 6-point benefit to revenue growth," it added.
James Quincey, chairman and CEO of The Coca-Cola Company, said, "We remain focused on emerging stronger and executing against our growth accelerators during the recovery phase. We are pleased with the progress we are making." "We are encouraged by improvements in our business, especially in markets where vaccine availability is increasing and economies are opening up, and we remain confident in our full-year guidance," he added.


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