Alongside our daily news coverage, features and interviews, the Just Drinks team rounds up the week’s top stories with a series of data snapshots.

This week, PepsiCo and Carrefour hit the headlines again as the pair brought their spat over pricing to a close in Europe. The soft-drinks giant also announced significant investment in India.

Meanwhile, Heineken expanded capacity at Rwanda subsidiary Bralirwa as part of a €30m ($32m) investment in the central African nation.

PepsiCo, Carrefour food fight damage yet to be defined

In 2023, Europe’s significance for PepsiCo grew – contributing 12.1% of final revenue compared to 11% in 2022.

But a three-month long food fight between the drinks and snacks giant and French retailer Carrefour could halt the continent’s growth in PepsiCo’s 2024 financial year as products were withheld from shelves in several countries.

This week, the pair resolved their pricing dispute and PepsiCo said it was “delighted that our products are returning to Carrefour’s shelves.”

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In 2023, Europe contributed $13.2bn in revenue to the group total of $91.5bn, up from $12.7bn in 2022 (of a group total $86.3bn). Any impact of the boycott on sales is unlikely to be felt until at least the first quarter of 2024.

In January, Carrefour stopped selling PepsiCo brands such as Lay’s, Doritos, 7Up and Lipton in France due to what it called “unacceptable price increases”.

The boycott was followed by branches in Spain, Italy, Belgium and Poland.

Heineken splashes out on Rwanda soft drinks

This week Heineken's Rwanda subsidiary Bralirwa expanded production as part of a €30m ($32m) expansion in the central African nation.

The investment is being ploughed into the Rubavu District of western Rwanda and this week saw the site's third production line open.

Bralirwa managing director Etienne Saada said: “For the past 67 years, Bralirwa has continuously invested in innovation and growth... made possible by an environment conducive to growth and prosperity, as well as the commitment and dedication of our key stakeholders and employees.”

Rwanda's soft-drinks market is set for slow but steady volume growth between now and 2028, according to analysts at GlobalData.

The market is set to cross the 300m litres mark in 2024 and rise to 327m litres by 2028. In value terms, the market could be worth $800m by 2028.

The World Bank described Rwanda's economy as “resilient and adaptable despite challenging external and domestic factors”. It predicts the country's GDP growth will “regain momentum” between 2024–26, with a projected average growth of 7.2%.

Heineken acquired a stake in Bralirwa in 1971. The Dutch brewing group owns a 75% stake in the business, with the remaining 25% listed on the Rwanda Stock Exchange. Bralirwa's portfolio includes Heineken, Amstel Malt and Primus beers, plus Cheetah energy drinks. It also has a licensing agreement with The Coca-Cola Co.

United Spirits invests in India's fledgling agave market

Diageo’s Indian business United Spirits has taken a minority stake in India's Inspired Hospitality, which owns agave spirit brand Pistola.

The 15% share in Pistola is being acquired for Rs56m ($677,708), valuing the company at Rs314m.

United Spirits said it wanted to “strengthen its play” in the “premium” craft segment of the Indian market.

Agave spirits are in their infancy in India, as data published by GlobalData shows, which forecasts just 75,000 nine-litre cases of Tequila and mezcal will be sold in India by 2028. It estimates the market will be seeing a CAGR of 11-12% by that point of the decade.

Pistola was founded by Rakshay Dhariwal and Radhika Dhariwal. Pistola comes in joven, reposado, añejo and extra añejo styles. Roughly 90% of Pistola’s revenue comes from the domestic market. Inspired Hospitality exports to the US, Singapore and Thailand.

Celsius Holdings eyes fizzing energy-drinks forecast in France

The French market for energy drinks is predicted to see mid-single-digit growth well into the late 2020s, analysis from GlobalData suggests.

Worth $650m in 2019, France's energy-drinks market could be worth $1.8bn by 2028, analysts predict.

It comes as this week US energy-drinks producer Celsius Holdings teamed up with Suntory Beverage & Food to launch its products in France over the next two years.

The sales and distribution agreement, with Suntory’s French arm, will see “initial targeted actions” at the end of 2024 and a “broad launch” in France in 2025.

It follows similar moves in the UK and Ireland in January, and Australia and New Zealand last month.

Pierre Decroix, the CEO of Suntory Europe, said: “This is a great growth opportunity for all retail partners, as well as a unique opportunity to strengthen our portfolio.”

PepsiCo eyes India soft-drinks potential as market edges towards $80bn

India's soft-drinks market is set to hit $80bn by 2028, according to analysis by GlobalData, Just Drinks' parent company.

This week PepsiCo announced it was setting up a “flavour” manufacturing facility in India, a move the company said will boost its beverage business in the country.

The 7Up and Mountain Dew maker is spending Rs 1266 crore ($151.8m) on the plant, which will be located in Ujjain in Madhya Pradesh, a state in central India.

PepsiCo already has a flavour manufacturing facility in India, located further north in Channo in Punjab.

The Ujjain is expected to be operational in the first quarter of 2026.

 In 2023, the company saw its beverage sales volumes rise at a “double-digit” rate in India, while its volumes of “convenient foods” dropped at a “low-single-digit” rate.

George Kovoor, senior vice president of beverages at PepsiCo’s business in India, said PepsiCo wanted to “ramp up” production in India to meet “rising demand” for soft drinks.