Pepsi vs Cola vs Ambani’s Campa vs Smoodh vs Amul TRU: How ₹10 beverage market competition has hot up

Pepsi vs. Cola vs. Ambani’s Campa vs. Smoodh vs. Amul TRU: India's leading fast-moving consumer goods (FMCG) companies are increasing their bets on the ₹10 beverage market by introducing several new products, including sparkling water, flavoured milk, cola, and buttermilk. With the onset of the summer season increasing the demand for affordable cold drinks among the middle class, the market competition is only getting tighter.

According to a report from think tank ICRIER, India’s beverages market, including carbonated soft drinks, juices, bottled water, and fruit-based beverages, was estimated at ₹67,100 crore in 2019. According to estimates, the beverage market in the country could touch ₹1.47 trillion by 2030.

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India's ₹10 beverage market crowd—Pepsi vs. Cola vs. Ambani’s Campa vs. Smoodh vs. Amul TRU

₹10 has historically been a popular price point across consumer goods categories, helping to expand the category's accessibility to the largely middle-class and lower-middle-class population. Taking advantage of the rapid seasonal demand, several FMCG companies are taking big bets in the product range.

Last month, Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF), which sells dairy products under the Amul brand, launched Tru dairy-based fruit drinks at ₹10 for 150 ml. LiveMint reported earlier that the dairy giant plans to introduce more beverages at this price point this season.

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Amul Kool flavoured milk is priced between ₹20 and ₹40 in tetra packs, while buttermilk starts at ₹15. However, according to Amul's financial metrics, the ₹10 buttermilk pouch generates a high volume for the firm.

Last month, Reliance Consumer debuted its sports drink Spinner, co-created with cricketer Muttiah Muralitharan, also priced at ₹10. In January 2025, Reliance Consumer Products launched RasKik Gluco Energy, priced at ₹10 per single-serve unit.

In 2021, Frooti maker Parle Agro introduced its ₹10 dairy beverage Smoodh and tapped actor Varun Dhawan to endorse the brand. As of February 2023, Smoodh was a ₹685 crore brand. Smoodh benefits from Parle Agro’s extensive distribution network, spanning two million outlets nationwide.

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Reliance's Campa Cola's re-entry shakes up India's beverage market

Billionaire industrialist Mukesh Ambani-led Reliance Industries said in its October-December quarter results that Campa’s re-entry has shaken up the market, impacting established players like Coca-Cola, Pepsi, and Tata Consumer Products. According to estimates, Campa Cola has captured over 10 per cent market share in the sparkling beverage category in select states and is projected to exceed ₹1,000 crore in turnover in 2024-25 (FY25).

The oil-to-telecom conglomerate's FMCG major Reliance Consumer Products Limited (RCPL) relaunched its Campa brand at ₹10 last year, disrupting the low-priced beverage market. The strategy is being extended to other product categories. The increased competition at the ₹10 price point reflects the growing demand for affordable beverages among price-sensitive consumers.