PepsiCo Beverages International is set for healthy growth in 2004, according to its Australasian marketing director. Tony Thomas said late last week that the company had recorded double-digit sales growth in calendar 2003 and in the first two months of 2004.

This has pushed PepsiCo's market share in the region from 10.5% six months ago to 11.5% today. The soft drink company is chasing a 15% share by 2005.

Speaking to Australian Financial Review, Thomas said: "Soft drink sales in supermarkets are up about 5% this year, but overall the market seems reasonably flat.

"Our sales growth means we are gaining share," Thomas added.

Coca-Cola Amatil currently dominates the market with 60% of sales.