India is steadily moving toward becoming one of Coca-Cola’s most critical global markets, with the country expected to rank among the company’s top three by volume in the coming years, according to John Murphy, President and Chief Financial Officer of The Coca-Cola Company.
During a recent visit to India, Murphy said the market’s growth trajectory remains strong, supported by favourable demographics, rising consumption, and policy-driven economic momentum. India currently sits within Coca-Cola’s top five markets globally, driven by brands such as Coca-Cola, Thums Up, Sprite, Maaza, Dasani, and Honest Tea.
Financial performance reflects this momentum. Coca-Cola India reported a 46 percent jump in consolidated net profit to ₹615 crore in FY25, while revenue from operations rose 7 percent to ₹5,042.6 crore, as per filings accessed via Tofler. The company has benefited from improving affordability, expanded distribution, and increased demand across urban and semi-urban markets.
Murphy pointed to government-led investments in infrastructure, electrification, and digital payments as key enablers of consumption growth. He noted that digitisation in particular is reshaping retail and supply chains, creating opportunities for faster reach and improved execution.
Coca-Cola continues to deepen its long-term commitment through its bottling ecosystem, which includes its in-house arm Hindustan Coca-Cola Beverages and franchise partners such as Moon Beverages. These partners are expanding capacity across bottling, retail execution, and digital capabilities. Industry executives said investments are being made ahead of demand to support future scale.
The company is also open to selective acquisitions in India as part of its broader strategy to strengthen its presence across beverage categories. Globally, Coca-Cola’s past acquisitions include Maaza, Thums Up, Limca, Costa Coffee, Fairlife, BodyArmor, and Vitaminwater.
With more than six million retail outlets and three billion-dollar brands in India, Coca-Cola is also increasing focus on low- and no-sugar options to match evolving consumer preferences. Despite intensifying competition from regional and new-age brands, Murphy said the Indian beverage market remains underpenetrated, offering significant headroom for growth.
As Coca-Cola sharpens its focus on Asia through recent organisational changes, India is emerging as a central pillar in the company’s global growth strategy.
