PepsiCo logs double-digit volume growth in India in 2021
Feb 10, 2022
1 min read . Updated: 10 Feb 2022, 09:39 PM IST PTI
PepsiCo's net revenue in 2021 from Africa, Middle East, South Asia (AMESA) division, which includes India, was up 32.91% to $6.07 billion as against $4.57 billion earlier
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Global food and beverages major PepsiCo on Thursday reported a double-digit volume growth in the Indian market in 2021. PepsiCo's net revenue in 2021 from Africa, Middle East, South Asia (AMESA) division, which includes India, was up 32.91% to USD 6.07 billion as against USD 4.57 billion earlier. Besides, the Middle East experienced double-digit growth and Nigeria saw high single-digit growth, it added. In the convenient foods segment, its unit volume grew 38% in the AMESA division, primarily reflecting a 35-percentage-point impact of its acquisition of South Africa-based company Pioneer Foods. This also included "double-digit growth in India and Pakistan and high-single-digit growth in the Middle East", it said. In 2021, PepsiCo's operating profit from the region increased 43%, primarily reflecting net revenue growth, a 31-percentage-point impact of the prior-year acquisition and divestiture-related charges associated with the acquisition of Pioneer Foods and productivity savings. Overall, its global net revenue for the year ended December 25, 2021 rose 12.93 per cent to USD 79.47 billion, the company said.