Having achieved one billion-unit case sales in 2019, The Coca-Cola Company, the world’s largest beverage company, has announced plans to double sales volume in India in five years with an objective to make India its third-largest market in the future. It has set no time-frame to achieve the global mark.
In 21 years since the company re-entered the country, India has emerged Coca-Cola fifth-largest market by volume globally, contributing to ‘solid growth’ of the company. Addressing a press conference on Monday, James Quincey, chairman and chief executive officer, The Coca-Cola Company said, “India is a super attractive market for us and now that we have achieved one billion-unit case sales in 2019, our next target is to double sales in five years. India presents a promising opportunity to become one of the top three markets for the company soon, from fifth largest now.”
Top markets
The top four markets include the United States, Mexico, Brazil and China. Coca-Cola in India is transforming into a total beverage company, and in the last two years, the portfolio of beverage offerings has expanded in a segmented manner.
He said the company had made strong value share gains with contribution from both sparkling and non-sparkling offerings and the slowdown in India had not impacted sales volume.
As a part of company’s refreshed approach, Coca-Cola India will continue to grow its core brands by rolling out new variants across Thums Up, Limca, Fanta, Sprite and Maaza, including no-sugar extension, and at the same time diversifying its portfolio by entering new beverage categories like enhanced hydration, nutritious dilutables and beverage-plus at affordable price point.
The company also has plans to market Coca-Cola India home-grown brands like Thums Up and Maaza globally in other markets.
In 2017, Coca-Cola committed $1.7 billion (₹11,000 crore) towards the Indian agri-ecosystem for the next five years under its Fruit Circular Economy initiative. It is on target to spend this amount by 2022, T. Krishnakumar, president, Coca-Cola India and Southwest Asia, said.