PepsiCo reports double-digit growth in Indian market in 2024

PepsiCo reports double-digit growth in Indian market in 2024

Global food & beverages major PepsiCo has reported double-digit organic revenue growth in the Indian market in 2024.

The company has gained a share in markets, including India, in savoury snacks and beverages, said PepsiCo's earning statement for the fourth quarter of 2024.

For the full year ended on December 28, 2024, PepsiCo's net revenue was at USD 91.8 billion, up 0.41 per cent and USD 27.78 billion, up 0.2 per cent for the fourth quarter.

Chairman and CEO Ramon Laguarta said: "Our businesses remained resilient in 2024, despite subdued category performance trends in North America, the continued impacts related to a recall in our Quaker Foods North America division and business disruptions due to geopolitical tensions in certain international markets." PepsiCo’s net revenue in Africa, the Middle East, South Asia (AMESA) division, which includes the Indian market, was up 1.27 per cent to USD 6.21 billion for 2024, primarily reflecting effective net pricing and organic volume growth.

Convenience foods unit volume grew 2 per cent, primarily reflecting mid-single-digit growth in South Africa and double-digit growth in India, it said.

While "beverage unit volume grew 1 per cent, primarily reflecting double-digit growth in India," said PepsiCo.

PepsiCo’s net revenue for the fourth quarter for the AMESA division was at USD 2.03 billion, up 5 per cent.

On outlook and guidance for 2025, PepsiCo management said: "We expect to deliver low-single-digit organic revenue growth." "Our business plans assume that consumer preferences and habits will continue to vary by channel, income cohort and geography. Our commercial plans and go-to-market systems will focus on more precise execution with an adaptive and agile mindset.” Moreover, PepsiCo also assumes that geopolitical uncertainty and foreign exchange volatility will remain elevated in 2025," it said.