PepsiCo records mid-single digit organic revenue growth in India in 2023

PepsiCo saw mid-single digit organic revenue growth in India in the year 2023.

The US-headquartered food and beverage giant gained market share in the savoury snacks category in India in 2023, alongside China, Brazil, the Netherlands, Pakistan, Belgium, and Puerto Rico.

“Our $36 billion international business (which represented nearly 40 per cent of total PepsiCo net revenue in 2023) delivered 12 per cent organic revenue growth in 2023 – its third consecutive year of double-digit organic revenue growth,” PepsiCo said in its prepared management remarks after announcing its results.

“For the full year 2023, China and India each delivered mid-single-digit growth,” it added.

Meanwhile, the company recorded an overall 9.5 per cent organic revenue growth in the year.

India posted a double-digit volume growth in the beverages category, while recording a low-single-digit volume decline in the convenient food category.

In its outlook for 2024, the company said: “Geographically, we expect international organic revenue growth to exceed North America organic revenue growth. However, geopolitical tensions and macroeconomic volatility are expected to remain elevated in certain parts of the world.”

PepsiCo offers brands like Lay's, Kurkure, Doritos, Quaker Oats in foods and Pepsi, Mountain Dew, and Tropicana in its beverages portfolio.