In a massive shake-up of India’s soft-drink market, Reliance’s Campa and Verlinvest-backed Lahori Zeera have doubled their combined market share to nearly 15% between January and September 2025, up from just 7% a year ago.
The rise of these homegrown brands marks the first serious challenge to the decades-long dominance of Coca-Cola and PepsiCo, whose cumulative share has dropped from 93% to around 85%.
₹10 Segment Driving the Disruption
The biggest churn has come from the ₹10 price segment, which fuels mass consumption across India. Campa and Lahori Zeera’s aggressive entry here has reshaped consumer preference, especially in small towns and rural markets.
What makes the shift even more striking is that it happened despite a flat overall beverage market, dragged down by unusually high rainfall during the summer months.
Coke & Pepsi Forced to React
The rapid gains by these challenger brands have pushed Coca-Cola and PepsiCo into defensive mode — prompting them to introduce new ₹10 packs to protect their base, a move they haven’t had to make in years.
For the first time, the soft drink duopoly is cracking, and Mukesh Ambani’s push into FMCG is proving to be a game-changing disruption in yet another industry.
