PepsiCo, on Tuesday, said that its India business posted “double-digit volume growth” in the snacks segment in the first quarter of CY24. The company, which released its global quarterly earnings on Tuesday, said that the beverage segment in the Indian market recorded “high-single-digit” volume growth.
The company added that it saw share gain in the savoury snacks segment in markets such as India in the first quarter ended March 23, 2024.
AMESA biz
Commenting on the performance of Africa, Middle East and South Asia (AMESA) business, the company said that the “convenient foods” unit volume grew 4.5 per cent in the region. This was led by “high-single-digit growth in South Africa, double-digit growth in India, mid-single-digit growth in Pakistan, partially offset by a double-digit decline in the Middle East,” the snacks and beverage major added.
In AMESA, “beverage unit volume grew 2 per cent , primarily reflecting mid-single-digit growth in the Middle East and high single-digit growth in India and Nigeria, partially offset by a double-digit decline in Pakistan,” the company noted.
“On a year-to-date basis, we gained savoury snack share in China, India, Brazil, Australia” among others, it added.
In March, Jagrut Kotecha took over the role of CEO of PepsiCo India succeeding Ahmed El Sheikh, who ended his seven-year stint leading the India region.
Earlier this month, PepsiCo India announced an investment of ₹1,266 crore to build a new flavour manufacturing facility in Madhya Pradesh for the beverage segment. This is the second such flavour manufacturing plant for the company in India.