Convenient Foods category Archives - Business of Food https://www.businessoffood.in/tag/convenient-foods-category/ Latest Food News, Food Industry News & Business Update Wed, 24 Apr 2024 08:06:53 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.2 https://www.businessoffood.in/wp-content/uploads/2024/01/cropped-Food-in-32x32.png Convenient Foods category Archives - Business of Food https://www.businessoffood.in/tag/convenient-foods-category/ 32 32 227603187 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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