However, he said the growth outlook for India remains intact, and added that growth in the Asia-Pacific region was led by markets such as India.
The company flagged strong demand for juices in India and China and stated that within sparkling beverages, it saw strong consumer engagements of brands such as Sprite and Thums Up.
The April-June quarter is the single largest contributor to annual sales of beverage companies, contributing to close to 40% of annual sales. Unseasonal rains this year impacted sales of summer categories such as cold beverages and ice-cream.
Unit case volume grew 2 per cent, driven by growth across most categories. Growth was led by India, China, Thailand and Vietnam, Coca-Cola noted in its earnings statement, adding that it saw value share gains in India, South Korea, Australia and Thailand.
The beverage maker said for its bottling investment group, unit case volume declined 1 per cent, driven by refranchising bottling operations and a decline in the Philippines, but partially offset by growth in India and South Africa.India, the Atlanta-based beverage maker’s fifth largest market in terms of volume sales, had the “strongest year ever” in 2022. But summer-facing categories have not been able to capitalise on the growth momentum of last year, owing to the rains.
