Overall, the company’s international business delivered 15% organic revenue growth, the company at its second quarter earnings presentation on Tuesday.
“Our developing and emerging markets remained resilient and delivered double-digit organic revenue growth in the quarter, including double-digit organic revenue growth in Mexico, Brazil, China, South Africa, India, Egypt, Saudi Arabia, Pakistan, Turkey, and Poland, and high-single-digit growth in Vietnam," the company said.
Meanwhile, in the AMESA region (Africa, Middle East and South Asia) convenient foods unit volume grew 10%, primarily reflecting double-digit growth in the Middle East and India during the quarter.
Within the region, beverage unit volume grew 28%, primarily reflecting double-digit growth in India in the same period, it added.
Demand for cold drinks soared in India during this year’s scorching summer, when people returned to offices and education institutions after two consecutive summers marked by the covid-19 lockdowns.
For the duration of 24 weeks, convenient foods unit volume grew 10% in the region, primarily reflecting double-digit growth in the Middle East, India and Pakistan. Beverage unit volume grew 21%, primarily reflecting double-digit growth in India and Pakistan.
Meanwhile, the maker of Lay’s chips and Pepsi drinks said its gained market share in the savory snacks category in markets such as India and China.
“With respect to our year-to-date market share performance, we gained savory snack share in many of our international markets, including China, the U.K., India, Saudi Arabia, Turkey, and Vietnam, the company added in its earnings announcement.
On Tuesday, the company lifted its full year sales forecast. PepsiCo’s overall net revenue rose 5.2% to $20.23 billion in the second quarter ended June 11.
