We all love those fizzy soft drinks, right? Expect more fizz in India because The Coco-cola Company CEO James Quincey plans to make India as its third largest market in the entire world.
The trend of carbonated beverages has raved up lately, you can see it yourself – whenever you are out in a public place next time, just look around and you’ll find at least one person sipping that fizzy soft drink. With this pace, India became the sixth-largest market for beverage giant – Coca-Cola Co. after US, Mexico, China, Brazil and Japan. To expand the business, Coca-Cola CEO James Quincey is on a visit to India and during the visit, he said that the company has already planned to invest up to $5 billion by 2020.
Looking at the potential of expanding business in India, Quincey said that Coca-Cola is going in for deeper localisation of and wider diversification of products. The 130-year-old company is trying to speed up the development of healthier alternatives as consumers shift from fizzy drinks to low- and no-sugar options and drinks in emerging categories. It may even roll out new fruit juices, fruit drinks, dairy products, tea and coffee – as per local taste and demand, rather than just relying on the brown carbonated drink – Coke.
Despite reduction in sales of 2017 compared to that in 2016, and the company had rough quarters at the end of last year – Coca Cola is optimistic about Indian market because the company’s India business has already started to grow after demonetization. While the fizzed non-alcoholic carbonated drink will remain the core and soul of Coca Cola, the company needs to be much bigger. And the trials of introducing fruit-based drinks like Maaza has paid off Coca Cola in Indian market, kids love Maaza, adults love Maaza and seniors love Maaza too. With this, Quincey said that Coca Cola aims to make India it’s third largest market by 2020 with a thought that sometimes, one has to go beyond the fizz.