Coca-Cola’s Sprite is now billion-dollar brand in India

Coca-Cola’s Sprite – The leading producer of soft drinks worldwide, Coca-Cola Company, announced on Tuesday that the Indian market had made Sprite, a lemon and lime-flavored beverage, a billion-dollar brand. The company’s effervescent soft drink portfolio and fruit drink brand Maaza have contributed to the “great” volume growth it saw in the third quarter of 2022 in its India business.

James Quincey, Chairman and CEO of the Coca-Cola Company, commented on the success in the Indian market during an earnings call and stated that “Trademark Coke delivered excellent growth through effective execution and occasion-based marketing.” Through the development of returnable glass bottles and single-serve PET containers, he said, “we drove 2.5 billion transactions in India at accessible price points.”

He stated, “Coca-Cola continued to strengthen in the first half of 2022 as it increased share in effervescent goods. According to Quincey, the market success of locally tailored, occasion-based global marketing campaigns and screen time are the main reasons why Sprite has developed into a billion dollar brand.

Coca-Cola previously stated in January of this year that Thums Up, a soft drink brand from India, will reach $1 billion in sales by 2021. The fifth-largest market for Coca-Cola worldwide is India.

Coca-Cola’s Sprite

The Coca-Cola Company’s unit case volume increased overall by 4% for the three months that ended September 30, 2022. While developing and emerging markets increased in the low single digits, its developed markets had growth in the mid-single digits. According to an earnings report from the company with its headquarters in Atlanta, “growth in established areas was led by Western Europe, Mexico, and the United States, while growth in developing and emerging markets was led by India, China, and Brazil.”

Its effervescent soft drink sales increased by 3%, “mainly driven by India, Mexico, and China,” the company reported. With Minute Maid Pulpy in China, Maaza in India, and fairlife in the US market as leaders, nutrition, juice, dairy, and plant-based beverages also saw growth.

India is a part of the Asia Pacific region, where India’s market for Coca-Cola increased by 9%. Such was “fueled by rapid expansion in China and India. Sparkling soft drinks and hydration were the drivers of growth “Coca-Cola stated.

The amount of unit cases of the company’s beverages that it and its bottling partners directly or indirectly sell to clients is referred to as the “unit case volume.” Overall, organic revenues (non-GAAP) increased by 16 percent while net revenues for the Coca-Cola Company increased by 10% to $11.1 billion.

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