PepsiCo Sees Double-Digit Growth in India Amid Regional Variations

PepsiCo reported double-digit growth in its beverages and convenient foods unit volumes in India for Q2 2024. This contributed to a 2% overall rise in the Africa, Middle East & South Asia (AMESA) region. Mixed performance in other regions like Pakistan and the Middle East impacted overall results.

PepsiCo, a global food and beverages giant, reported double-digit growth in its beverage volumes in India for the second quarter of the 2024 calendar year, driving a 2% overall rise in the Africa, Middle East & South Asia (AMESA) region.

The company's convenient foods unit volume also saw double-digit growth in India during the April-June period, though gains were partially offset by declines in other regions.

According to PepsiCo's regulatory filing, beverage unit volume in the AMESA region grew by 2%, mainly due to double-digit growth in India, which was countered by declines in Pakistan, the Middle East, and Nigeria. Additionally, the company's convenient foods unit in this region grew by 1%, driven again by strong performance in India and South Africa.

Developing and emerging markets like Egypt and Poland posted double-digit organic revenue growth, while India and Brazil saw high-single-digit increases. In developed markets, Australia and the UK recorded low-single-digit revenue growth.

On a year-to-date basis, PepsiCo held or gained savory snack market share in key markets, including China, India, and Brazil. The company also maintained or expanded its share in the beverage sector in various countries, including Australia, South Korea, and the UK.

Overall, PepsiCo reported a slight rise in net sales amounting to USD 22.5 billion, with net income attributable to the company totaling USD 3.08 billion.