India’s soft drinks market worth ₹60,000 crore is undergoing a major shift as new competitors gain ground on PepsiCo and Coca-Cola.
NielsenIQ data cited by industry sources shows that Reliance’s Campa and Lahori Zeera have doubled their combined market share to about 15% between January and September 2025, up from roughly 7% the previous year.
Campa and Lahori Zeera Double Market Share as Cola Giants Lose Ground
Most of the growth has come from the ₹10 price segment, which continues to dominate mass-market sales.
Despite a weak summer season due to heavy rainfall and neither brand having full national distribution yet, their market share increased while Coca-Cola and PepsiCo’s combined share fell from 93% to about 85%.
Overall soft drink category growth remained flat because of prolonged monsoon weather.
Lahori Zeera’s co-founder and COO, Nikhil Doda, did not comment on the market share figures but said the company intends to expand nationwide next year, aiming to reach 80–90% of all pin codes.
The brand is currently present across India except in the southern states.
Lahori Zeera, based in Fatehgarh Sahib, Punjab, was founded in 2017 by Saurabh Munjal, Nikhil Doda and Saurabh Bhutna.
The company is building its third factory in Lucknow and preparing to expand into institutional sales.
Doda said the company is launching new flavours including Lahori Aamras and Masala Cola and currently operates with more than 2,500 distributors.
Reliance Consumer Products Ltd, which bought Campa Cola in 2022 and relaunched it in 2023, has significantly increased marketing efforts this year.
Campa has signed major promotional deals including a “co-powered by” sponsorship for IPL broadcast and digital platforms.
The brand has appointed actor Ram Charan as ambassador and secured exclusive beverage rights at Hyderabad Metro stations through retail points and vending setups.
RCPL also partnered with Ajith Kumar Racing and named Campa Energy as its “official energy partner.”
Coca-Cola and PepsiCo Cut Prices with New ₹10 Packs Amid Rising Competition
The strong rise of Campa and Lahori has pushed Coca-Cola and PepsiCo to introduce new ₹10 product packs across brands like Coke, Thums Up, Sprite, Gatorade, and Pepsi, lowering prices from earlier levels of ₹12 or more.
A Mumbai-based analyst noted this as the first serious threat to the long-standing Coca-Cola-Pepsi duopoly, despite earlier competition from smaller regional brands like Bovonto and Jayanti Cola.
During Varun Beverages’ September 2025 earnings call, chairman Ravi Jaipuria acknowledged competition, saying, “We believe competition is good and healthy and will only grow the market for all of us… there will be some minor effect temporarily, but in the long term this is going to be very healthy for the industry.”
