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Beverage and snacks major PepsiCo on Thursday said its India business reported double-digit organic revenue growth in 2022. The company also saw market share gains in both beverages and snacks.
Organic revenue growth
“Each of our international divisions reported strong organic revenue growth, led by Latin America and AMESA ( Africa, Middle East and South Asia). Both divisions delivered more than 20 per cent organic revenue growth for the full year with Mexico, Brazil, Colombia, Chile, Saudi Arabia, India, Egypt, South Africa and Pakistan all delivering double-digit organic revenue growth,” the company’s management said.
PepsiCo’s management added that in 2022, the company gained “savoury snack share” in markets such as India, Brazil, China and the UK, among others. “For the full year, we gained beverage share in Mexico, gained beverage share in Mexico, Brazil, Australia, China, India, Egypt, Pakistan, Saudi Arabia, Vietnam and Nigeria,” the company said. It added that it continues to focus on executing and winning in various marketplaces.
On performance in the AMESA region, the company said net revenue increased 6 per cent, primarily reflecting effective net pricing and organic volume growth. It added that beverage unit volume grew 14 per cent in the AMESA region which driven by “double-digit growth in India.”
“Convenient foods unit volume grew 2 per cent primarily reflecting double-digit growth in the Middle East and Pakistan and high-single-digit growth in India,” it added.
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