So, Sprite has grown to become a billion-dollar brand in the Indian market, driven by locally adapted, occasion-based marketing campaigns and screen time.
Sprite is the second brand in Coca-Cola India’s portfolio to breach billion dollars in annual sales, after ThumsUp cola. In January this year, Coca-Cola had said ThumsUp had become a billion-dollar brand in annual sales in 2021 in India, Coca-Cola’s fifth-largest market globally.
Coca-Cola said it drove 2.5 billion transactions in India at affordable price points through the expansion of returnable glass bottles and single-serve PET packages.
According to the company soft drinks grew 8%, driven by growth across all geographic operating segments, primarily led by India, Mexico and Brazil. Growth in developing and emerging markets was led by India and Brazil.
Coca-Cola chairman James Quincey said that Trademark Coke delivered strong growth through effective execution and occasion-based marketing.
Coca-Cola, which leads the soft drinks sector, said it recorded strong volume growth in its India business in the third quarter of 2022, helped by its sparkling soft drinks portfolio and fruit drink brand Maaza. For the three months that ended September 30, Coca-Cola’s unit case volume grew by 9 per cent. Its developed markets grew in the mid-single digits while developing and emerging markets grew in low single digits.
“Growth in developing and emerging markets was led by India, China and Brazil,” the company said in its earnings statement. It said sparkling soft drinks grew 3 per cent, driven by India, Mexico and China. Nutrition, juice, dairy and plant-based beverages also grew, led by Minute Maid Pulpy in China, Maaza in India, the company noted. In the Asia Pacific market, which includes India, Coca-Cola’s unit case volume grew 9 per cent.