In 2021, the central government did not implement a nationwide lockdown in India. However, most state governments implemented lockdowns to curb the spread of COVID-19 during the second wave caused by the Delta variant.
The pandemic resulted in home seclusion, which drove recovery in the off-trade at a time when on-trade outlets remained closed or open for limited hours during the second wave in 2021. As on-trade establishments continued to face the brunt of the restrictions, the off-trade channel benefited.
Both the leading players, Coca-Cola India and PepsiCo India Holdings, have been focusing on reducing the sugar content in their products, with the pandemic accelerating this process due to consumers’ rising health-consciousness. Coca-Cola India is working on reducing the sugar content of 330ml cans from 35g to 6g.
Carbonates attract 40% tax, 28% GST and 12% compensation tax. The Indian Beverage Association (IBA) requested the government remove aerated beverages from the sin tax category.
Historically, Coca-Cola India and PepsiCo India Holdings dominated carbonates. Regional brands such as Sosyo, Bovonto and Torino have been competing with these dominant players for a long time, but their distribution is limited to a few states.
By the end of 2021, nearly half of the Indian population was fully vaccinated, which bodes well for the recovery of carbonates. However, the pandemic has brought about much uncertainty, and new variants are already hindering recovery.
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Understand the latest market trends and future growth opportunities for the Carbonates industry in India with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Sweetened, non-alcoholic drinks containing carbon dioxide are included here. All carbonated products containing fruit juice (“sparkling juices”) are included here, unless they are tea-based (these are included in carbonated RTD tea) or carbonated Energy drinks, which are included in Energy Drinks. Carbonated bottled water is also excluded. Carbonates are an aggregation of cola carbonates and non-cola carbonates, whether regular or low calorie. Euromonitor International includes both naturally and artificially-sweetened carbonates.See All of Our Definitions
This report originates from Passport, our Carbonates research and analysis database.
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