The move comes amid a surge in launches into the health space by food and beverage companies globally, as consumers choose these products especially after the pandemic. The electrolyte and glucose beverage is a sports drink, a broad base for the company’s portfolio beyond soft drinks, which currently includes low-sugar juices, and Coke zero.
Ray said the beverage maker, which delivered its best quarter by volume in April and June, will increase spending significantly compared to last year in the third and fourth quarters, to maintain growth momentum in the non-summer months.
For soft drinks, the months from April to June contribute more than 65% to annual sales of bottled drinks. Out-of-home channels such as restaurants, bars, movie theaters, airports and entertainment complexes account for more than half of soft drink sales, and the quarter also saw supply demand exceeded for many products facing summer.
“Commuting and travel has resumed, inflation has stabilized, the government has introduced food plans; plus we have the ICC and world Cup coming, so we’re optimistic about the next two quarters,” Ray said.
Maker of Coca-Cola and Sprite soft drinks and mango mezze Beverage, marketing spending will increase in the next two quarters compared to the corresponding quarter of last year.
“India is a structural story, economically it is growing and has a large number of teenagers. So our view remains positive on demand especially in the upcoming holiday quarter, and we have a lot of room to grow,” he said.
In India, Coca-Cola reported its best-ever quarter by volume, delivering 1 billion additional transactions in the quarter led by affordable single service packages, the company said in its global earnings statement on Tuesday.