Global packaged food companies cited India as a significant growth driver, citing recovery trends fueled by improved consumer attitude in the September quarter, starting with the second pandemic phase. Mondelez International, the creator of Cadbury chocolates and Oreo cookies, reported double-digit net sales growth in the July – September period for its India operation, noting that rising markets such as India are “attractive development engines” for the firm.
“I think what we’re seeing is that consumer sentiment is continuing to improve in markets like India, big parts of Latin America… they’ve seen the immunisation roll out, they’re seeing life is going back to its normal,” Dirk Van de Put, Chairman and Chief Executive Officer of Mondelez International, said in a quarterly report on Tuesday. They are more confident about their own money, which is reflected in their spending. At the same time, they spent a lot more time at home, which helped our businesses.”According to the top management, India had double-digit sales growth in the chocolate area and a mid-single-digit increase in the cracker sector.
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During an investor conference last week, Suresh Narayanan, Chairman & Managing Director, Nestle India, stated that India has become one of the company’s fastest-growing segments over the last 3 years. According to the business, India’s sales volumes (from all Nestle brands marketed in India) in 2018, 2019, and 2020 were higher than in nations such as the United States, China, Russia, and Japan.
PepsiCo‘s India segment reported double-digit annual revenue growth over the previous quarter, owing to the relaxation of mobility limitations and the speedier restoration of out-of-home networks. Upon that investor conference, the top business indicated that areas such as India, the Middle East, and Africa were “difficult last year,” but that these companies are now “coming back,” showing recovery tendencies.
Coca-Cola, too, noted that expanding and rising countries such as India, Russia, and Brazil drove unit case volume increase in the September quarter. According to the report, fruit-drink brand Maaza performed well, and Coca-Cola and Thumbs Up saw growth in the country as a result of strong marketing activities. The company’s management stated that it “strongly contributed to the rebound by concentrating on affordability and omnichannel development.”
