India's beverage boom outpaces FMCG as Nestle, HUL, Tata bet big on coffee, RTD and low-sugar
A $17.2B beverage market growing at 10% CAGR through 2030 is reshaping India's FMCG playbook. Tata Consumer's coffee up 20%, RTD up 23%, Real Activ up 26%, and 63% of Varun's portfolio is now low/no-sugar as Nestle, HUL and Dabur chase younger, premium-seeking drinkers.
Beverages are outpacing broader FMCG growth in India, with Nestle, HUL, Tata Consumer, Dabur and Varun Beverages doubling down on coffee, RTD, protein drinks, coconut water and low-sugar variants to capture younger, premium-seeking consumers.