Coca-Cola Co (NYSE:KO) is in no mood to invest in the Indian market as of now. But that does not mean that the topmost beverage company in the world is not interested in the Indian market. The company has plans in the pipeline to make India its third-largest market from its current fifth position. And to achieve that, the American company wants to focus on less sugary drinks.
The Chairman and Global Chief Executive of Coca Cola, James Quincey, said that the company will not be making any further investments in the subcontinent until 2022. He added, “What we’re focused on is getting our investment plan that was running through 2022, completed preferably on or ahead of schedule that will support the growth that’s coming for the marketplace (India).”
Lower Price Points & Less Sugary Drinks
Coca Cola has managed to keep the stiff competition from its arch-rival in the soft drinks market PepsiCo, Inc. (NASDAQ:PEP) at bay by diversifying in the fruit-based drinks sector. Now it is planning to expand its reach further by launching products at lower prices, which will include the existing products as well as new launches.
The company also wants to attract health-conscious consumers, and hence diversification that goes beyond the sugary drinks is already a top priority. The leading soft drinks company in the world is working on cutting down the sugar content in its beverages. In a recent interview, president-India and Southwest Asia, Coca Cola, T Krishnakumar, revealed that the company has already cut down the sugar content in its popular brands Maaza and Thums Up, taking it below six grams.
In the coming three to four years, Coca Cola will ensure that all products have less than six grams of sugar. The company also is planning to start branding in regional language, and a pilot program related to it has already kicked off in West Bengal. With the local beverage brands like Jayanti Cola, Lemee, Bovonto, and more giving tough competition to international players, Coca Cola now wants to penetrate its reach further by promoting its products in regional language.