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Coca-Cola is set to its launch sports drink Powerade in India within the next two months, a move to compete with PepsiCo's Gatorade, according to a report by The Economic Times.
The beverage giant will introduce the drink in India just before the ICC World Cup, sources told the paper.
Powerade is currently available in India only through imports, and Coca-Cola is planning to launch a locally-made version in India, the report added.
Moneycontrol could not independently verify the news.
This is the second time Coca-Cola is attempting to launch Powerade in India, since the previous plans did not materialise.
Globally, Powerade has sales worth billions of US dollars.
In India, the sports drink market is small but is gradually developing. Globally, the sports drink market is expected to grow 4.31 percent to $28.58 billion by 2023 from US$22.19 billion in 2017.
“The functional sports drinks market is beginning to resonate with millennials and we are seeing good offtake at retail stores. However, unlike a couple of years back, now there are dozens of specialised hydration products for consumers to choose from,” said Devendra Chawla, chief executive, Spencer’s Retail told The Economic Times.
“Our focus is how to grow the business, but reduce calories,” Coca-Cola CEO James Quincey told the publication last month.
Coca-Cola has been trying to make its portfolio secure by introducing sugar-free variants, creating smaller packages and partnering with major sporting events such as the ICC World Cup and the Indian Premier League.
In January 2019, the beverage maker signed a five-year deal with the International Cricket Association (ICC), making it the ICC’s exclusive non-alcoholic beverage partner.
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