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Sprite reaches $1 Billion in yearly sales

Updated: Oct 29, 2022

Under Coca-Cola's local portfolio, Sprite follows Thums Up in achieving this new milestone.

Why it matters: Surpassing $1 Billion in sales just recently, the soft drink company has now joined the leagues of Thums Up which reached this milestone.

  • Sprite drink has the highest household penetration in the company's India portfolio.

  • Coca-Cola continued to strengthen as it gained a share in sparkling offerings in the first half of 2022.

What was said: In the earnings statement for the third quarter ended September, the world’s largest beverage company said that unit case volumes grew 9% in the Asia-Pacific region, driven by solid growth in India and China.

By the number: The company's net revenue grew 10% to $11.1 billion in the July-September period owing to price hikes.

  • India is the fifth-largest market for Coca-Cola globally.

  • The company drove 2.5 billion transactions in India at affordable price points through the expansion of returnable glass bottles and single-serve PET packages.

This achievement can be credited to the "Success driven locally adapted, occasion-based global marketing campaigns," said James Quincey, chairman and chief executive officer of the Coca-Cola Co., in a post-earnings conference call.

Competition: Coca-Cola's earnings mirrored rival PepsiCo Inc, which also saw its beverage volume grow in double digits in India in the 12 weeks that ended Sept.

Summary: Sprite has followed Thums Up's footsteps in becoming the second billion-dollar beverage brand under Coca-Cola's portfolio.


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