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The share of low-sugar and no-added-sugar beverages in Varun Beverages’ consolidated sales mix has risen sharply from 42% in CY23 to 56% by 9M CY25. The steady rise reflects changing consumer preferences toward healthier and functional beverage choices, alongside PepsiCo’s portfolio shift toward reformulated products and zero-sugar variants.
The company sold 386.1 million cases of low sugar/no sugar drinks out of total 702 million cases sold in H1 CY2025. (unit case - 5.678 liters of beverage divided in 24 bottles of ~ 237 ml each)
What It Means
This trend signals a structural transformation in India’s beverage market. The increasing penetration of low-calorie offerings across carbonated and non-carbonated segments helps Varun Beverages align with evolving health-conscious consumption trends, reduce dependency on traditional sugary SKUs, and improve long-term portfolio sustainability.
The mix shift also strengthens pricing power and margin stability, as zero-sugar variants carry comparable realisations but higher brand equity.
