The balance of power in India’s sixty-thousand-crore rupee soft drinks industry is shifting as emerging players Campa and Lahori Zeera rapidly pull consumers away from long-standing multinational leaders Coca-Cola and PepsiCo. New retail data from NielsenIQ, shared by industry executives, shows that the two challenger brands have doubled their combined share to close to fifteen percent in the January to September 2025 period. This comes at the cost of the category’s dominant companies, whose collective share has slipped to approximately eighty-five percent from ninety-three percent a year ago.
The trend is especially striking because it has unfolded during a sluggish summer season disrupted by extended rainfall that kept category growth nearly flat. The majority of movement is concentrated at the mass ten-rupee price point, a segment where value sensitivity is high and impulse purchases are heavily influenced by availability in small retail kiosks and general-trade outlets.
Lahori Zeera, backed by Verlinvest and headquartered in Fatehgarh Sahib, Punjab, plans to expand nationwide in 2026 with distribution coverage targeting eighty to ninety percent of India’s pin codes. Co-founder and chief operating officer Nikhil Doda said the company is currently unavailable only in southern markets and is preparing to scale capacity through a new plant in Lucknow while developing new variants including Lahori Aamras and Masala Cola. The brand works with more than twenty-five hundred distributors and is now exploring institutional channels.
Campa, owned by Reliance Consumer Products Limited, is driving aggressive visibility through partnerships such as an IPL sponsorship, an endorsement deal with actor Ram Charan, and exclusive beverage rights across Hyderabad Metro stations, vending machines and kiosks. The brand has also signed on as the official energy partner for Ajith Kumar Racing.
The intensified competition has pushed both Coca-Cola and PepsiCo to reintroduce ten-rupee packs across Coke, Thums Up, Sprite, Pepsi and Gatorade. Analysts say it is the first time the multinational duopoly has faced a material challenge in decades.










