Coca-Cola Q2 Earnings: India emerged as key growth driver in APAC region
Developing and emerging markets remained even, with growth in India and Brazil offset by the suspension of business in Russia in 2022 and a decline in Pakistan.
ADVERTISEMENT
The Coca-Cola Company reported strong second-quarter 2023 results. For Coca-Cola, the focus remains on strengthening its presence in emerging markets, building strategic partnerships and investing in sustainable initiatives to support its growth trajectory in India and across the globe.
The company stressed that in the coming months, they would focus on innovation, revenue growth management and brand building by taking a sustainable approach and building a circular economy that benefits all stakeholders.
The company's performance in the India market is outlined below;
Steady unit case volume
The overall unit case volume for Coca-Cola remained steady during the second quarter. Developed markets showed no significant change, as growth in Mexico balanced out, while declines were observed in the United States and Spain. Similarly, developing and emerging markets remained even, with growth in India and Brazil offset by the suspension of business in Russia in 2022 and a decline in Pakistan.
Robust growth in Asia Pacific:
In the Asia Pacific region, Coca-Cola experienced a commendable 2% growth in Unit Case Volume, primarily driven by positive performances across various beverage categories. Notably, India, China, Thailand, and Vietnam emerged as key growth drivers in this region.
Market share expansion in Asia Pacific:
Coca-Cola made significant strides in expanding its market share in the Asia Pacific region, particularly in total Non-Alcoholic Ready-to-Drink (NARTD) beverages. The company achieved notable share gains in South Korea, India, Australia, and Thailand.
