With the early onset of summer season in 2023, FMCG firms, as also PepsiCo India, is looking forward to a good year of sales. “We’re excited about what an early onset of summer could signify for the beverage sector in 2023. We are optimistic that our portfolio of well-known brands, such as Pepsi, 7UP, Mirinda, Slice, Sting, and Mountain Dew, will be able to meet consumer demand for refreshing, high-quality beverages to help them beat the heat,” said George Kovoor, Senior Vice President, Beverages, PepsiCo India. The demand for ice creams and cold beverages has surged and could likely drive sales in strong double digits, according to a PTI report.
PepsiCo India’s 2023 projections
While PepsiCo India said that in-home consumption remained strong even as out-of-home and on-the-go consumption steadily rose in the post covid era, the brand is seeing strong demand from rural India for both its foods and beverages products. “This is largely due to labour migration, increased digital penetration and enhanced distribution of our portfolio and rural India switching from unbranded loose products to branded ones,” Ahmed ElSheikh, President, PepsiCo India, had said earlier this year. He added that the brand’s portfolio in foods and beverages is in high demand, and the brand is catering to consumer needs with its range of new flavours and new products like Pepsi Black, Quaker Oats Muesli and Lays Gourmet among others.
In its results for the fourth quarter and full-year 2022 ending December 31, 2022, PepsiCo said that its India unit delivered a ‘double-digit organic revenue growth’ in 2022 and has gained market share in the segment in markets, including India. With the inflationary pressures expected to persist in 2023, PepsiCo expects the business to “build on the momentum and strength delivered in 2022”.
“As we move forward, the strategy will be to focus on product and consumer experience innovation, prioritizing profitable channels, diligently managing SKUs, and driving execution & productivity across the system,” said Ahmed ElSheikh.
Disclaimer: This story was updated to fix attributions.