PepsiCo saw its net revenues rise by 4.3 per cent in the first quarter of the year to $12.56 billion thanks to the performance of its snack and beverage brands in developing markets.
However, the company – which owns brands such as Mountain Dew, Tropicana and AMP Energy – saw sales in its North America beverage unit fall by 1 per cent as consumers shift towards healthier drinks.
The North America beverage business is the company’s largest and it recorded reductions in revenues of at least 3 per cent in the previous two quarters.
In a bid to retain sales, the company has since released a low-calorie variant of its Mtn Dew Kickstart line and a range of calorie-free fizzy waters called Bubly.
PepsiCo is now relying on growth from its snack categories and earlier this year its Naked Juice brand revealed it would release its first range of chilled snack bars, the first products the brand has produced outside the premium juice and smoothie sector.