Beverages category Archives - Business of Food https://www.businessoffood.in/tag/beverages-category/ Latest Food News, Food Industry News & Business Update Mon, 29 Apr 2024 11:11:50 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 https://www.businessoffood.in/wp-content/uploads/2024/01/cropped-Food-in-32x32.png Beverages category Archives - Business of Food https://www.businessoffood.in/tag/beverages-category/ 32 32 227603187 Greater Than Gin hits 1 million mark with record sales in FY 23-24 https://www.businessoffood.in/greater-than-gin-hits-1-million-mark-with-record-sales-in-fy-23-24/ Mon, 29 Apr 2024 11:11:46 +0000 https://www.businessoffood.in/?p=3165 In a market where discerning consumers now prioritize quality over quantity, Greater Than Gin has crossed a significant milestone: the sale of one million bottles in the financial year 2023-24. From its humble beginnings as a craft gin maker in 2017 to its current status as popular staple in bars, restaurants, and homes alike, Greater […]

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]]> In a market where discerning consumers now prioritize quality over quantity, Greater Than Gin has crossed a significant milestone: the sale of one million bottles in the financial year 2023-24.

From its humble beginnings as a craft gin maker in 2017 to its current status as popular staple in bars, restaurants, and homes alike, Greater Than Gin has distinguished itself with its carefully selected botanicals to its distillation and maturing processes. The company says that their success isn’t just about hitting a sales target — it’s a reflection of the evolving tastes of the Indian consumer. “The shift towards quality spirits is unmistakable, and the changing landscape in the bar industry reflects this trend. Bars, bartenders, and the drinks they curate have undergone significant upgrades, contributing to the growing demand for premium spirits.”

Additionally, there’s a noticeable improvement in home drinking, with consumers increasingly choosing better spirits for at-home consumption. Since its inception, Nao Spirits, the company behind Greater Than Gin, Hapusa Gin, and Pipa Rum has been committed to producing premium spirits that redefine the craft experience.

According to Anand Virmani, CEO and Cofounder, Nao Spirits, “When we came up with the idea to make Craft Gin in India, the premium Gin market itself was just above the 100,000 bottle mark. To have been able to take our brand to the 1 million mark then and helped grow the category itself by 50x is the stuff of dreams! Our small and very passionate team is full of thanks for all the love we have received from the bar community and Gin community as a whole. The future may hold new opportunities for growth and expansion but the core values of craftsmanship and quality will always remain at the heart of everything we do at Nao Spirits.”

Since 2020, Greater Than Gin has released one limited edition gin every year. The latest addition, Punk Gin, made with fresh strawberries and hibiscus, was unveiled in 2024 and is currently available in the regions of Goa, and Karnataka with availability soon expanding to Haryana. As of now, Greater Than Gin is available in 11 states and 3 union territories in India and 16 other countries across the globe.

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]]> 3165 Strong International Demand Fuels Growth for PepsiCo in Q1 2024 https://www.businessoffood.in/strong-international-demand-fuels-growth-for-pepsico-in-q1-2024/ Wed, 24 Apr 2024 08:06:50 +0000 https://www.businessoffood.in/?p=3026 PepsiCo’s first-quarter performance for 2024 exceeded expectations on the back of robust international demand for its snacks and beverages. The company reported a 2% revenue increase to $18.3 billion, with net earnings rising by 5.6% to $2 billion. Despite challenges such as the Quaker Oats recall, North American sales remained steady, with Frito-Lay revenue up […]

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]]> PepsiCo’s first-quarter performance for 2024 exceeded expectations on the back of robust international demand for its snacks and beverages. The company reported a 2% revenue increase to $18.3 billion, with net earnings rising by 5.6% to $2 billion.

Despite challenges such as the Quaker Oats recall, North American sales remained steady, with Frito-Lay revenue up 2% and Pepsi beverage sales up 1%. However, the real growth story lies abroad, particularly in Asia-Pacific and Europe, where sales surged by 11% and 10% respectively.

Ramon Laguarta, Chairman and CEO, PepsiCo, expressed optimism about continued consumer demand growth, echoing the sentiment reflected in their financial guidance for 2024, which includes a targeted organic revenue growth of 4%.

Notably, in the AMESA region, the Convenient Foods category experienced a 4.5% volume growth, driven by high-single-digit increases in South Africa, double-digit growth in India, and mid-single-digit growth in Pakistan. Meanwhile, the Beverage category saw a 2% volume growth, with high-single-digit growth in India and Nigeria, offsetting declines elsewhere.

Also, PepsiCo achieved significant market share gains, particularly in key regions. In China, India, Brazil, Australia, and Pakistan, there was a notable increase in savory snack share, while in Brazil, Turkey, South Korea, Thailand, Vietnam, and Pakistan, beverage share witnessed positive growth trends.

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