PepsiCo’s Indian Market Flourishes with Double-Digit Growth in 2024
In 2024, PepsiCo achieved a significant double-digit organic revenue growth in the Indian market, contributing to its global performance. The company’s net revenue for the year ending December 28, 2024, was $91.8 billion, a 0.41% increase from the previous year. The fourth quarter saw revenues of $27.78 billion, marking a 0.2% rise.
Chairman and CEO Ramon Laguarta acknowledged challenges such as subdued category performance in North America, impacts from a recall in the Quaker Foods North America division, and geopolitical tensions affecting certain international markets. Despite these hurdles, the Africa, Middle East, and South Asia (AMESA) division, which includes India, reported a 1.27% increase in net revenue to $6.21 billion in 2024. This growth was primarily driven by effective net pricing and organic volume increases.
In India, the convenience foods segment experienced double-digit unit volume growth, while the beverage segment saw a 1% increase, reflecting double-digit growth in the country. These results underscore India’s pivotal role in PepsiCo’s AMESA strategy.
Looking ahead to 2025, PepsiCo anticipates low-single-digit organic revenue growth. The company plans to focus on precise execution and maintaining an adaptive and agile approach to navigate varying consumer preferences across different channels, income groups, and geographies. PepsiCo also expects geopolitical uncertainties and foreign exchange volatility to remain elevated in 2025.
In line with its growth strategy, PepsiCo India has announced a new investment of Rs 1,266 crore for a second manufacturing facility in Ujjain, Madhya Pradesh, aimed at expanding beverage production. This plant is expected to be operational by early 2026. Additionally, the company is investing Rs 778 crore to establish a food manufacturing facility in Nalbari, Assam, slated to be operational by 2025. These strategic investments and robust performance metrics highlight PepsiCo’s commitment to strengthening its presence in the Indian market and adapting to evolving consumer preferences.
