Asahi Group Enters Indian Beverage Market for the First Time

Asahi Group Holdings Co., Ltd. (Headquarters: Tokyo, President: Atsushi Katagi) has signed a franchise agreement with Varun Beverages Limited (hereinafter 'Varun Beverages'), headquartered in India and engaged in the manufacturing, distribution, and sale of non-alcoholic beverages, to launch the 'Calpis' brand across India.

Product image is for illustrative purposes only. Packaging may be subject to change.

Starting in the second half of 2026, the straight (ready-to-drink) version of 'CALPIS' will be launched in two varieties: Original and Mango flavor. This marks Asahi Group's first entry into the non-alcoholic beverage business in India.

Under this franchise agreement, Asahi Group Holdings will provide product development and manufacturing technology support, while its newly established local subsidiary will handle marketing and brand management. Varun Beverages will be responsible for manufacturing, distribution, and sales. This partnership is expected to create mutual benefits: Asahi Group can focus on product development and marketing in India, while Varun Beverages can add a uniquely valuable product to its portfolio and expand its sales.

India, with a population exceeding 1.4 billion—the largest in the world—is a highly promising market for non-alcoholic beverages. India's beverage market is the largest in South Asia and has grown approximately 2.3-fold in volume over the past decade leading up to 2025. The market is expected to continue growing, driven by population growth, the expanding middle-income class, and rising consumer health consciousness—a global trend. *Source: Global Data

Established in India in the 1990s, Varun Beverages is the second-largest PepsiCo bottler globally (excluding the United States), operating 53 manufacturing facilities both domestically and internationally. Asahi Group will leverage Varun Beverages' manufacturing capabilities and nationwide distribution network to expand its business.

Asahi Group holds a diverse portfolio of high-value brands across alcoholic beverages, non-alcoholic beverages, and food sectors. As part of its medium- to long-term business strategy—'growing core beer-centered businesses while expanding into new domains'—the company aims for sustainable growth and enhanced long-term corporate value through strategic partnerships with local enterprises, including this franchise agreement.

Atsushi Katagi, Director, Representative Executive Officer, President, and Group CEO, Asahi Group Holdings Co., Ltd., commented: 'I am delighted that the 'Calpis' brand, cherished in Japan for over 100 years, will now be introduced to customers in India. It is an honor to partner with Varun Beverages, a market-leading company with outstanding manufacturing capabilities and a robust sales infrastructure in one of the world's most dynamic and promising beverage markets. By combining the strengths of both companies, I am confident we can create new value in the Indian market and achieve sustainable growth and enhanced corporate value for both parties.'

Varun Jaipuria, Executive Vice Chairman, Varun Beverages Limited, commented:

'It is an honor to partner with Asahi Group, a globally renowned beverage company with iconic brands and deep consumer insights across regions. We are excited to introduce 'Calpis,' a trusted brand with over a century of heritage, to the Indian market. We see significant growth potential in this category, which is a key focus area for Varun Beverages.

By combining Asahi's global expertise with our strong manufacturing capabilities and extensive distribution network, we aim to establish 'Calpis' as a leading brand in the Indian beverage market.'

About the 'Calpis' Brand

'Calpis' is Japan's first lactic acid beverage, developed by its founder, Kaiun Mishima, with the goal of providing Japanese consumers a delicious and healthful drink. Since its launch in 1919, it has contributed to the healthy lifestyles of people of all ages for over a century. Its distinctive refreshing aroma and unique tanginess come from a fermentation process using skimmed milk and the proprietary 'Calpis bacteria.' The brand is available in various formats, including diluted concentrate and ready-to-drink 'Calpis Water.' Guided by four core values since its inception—'delicious,' 'nourishing,' 'trustworthy,' and 'affordable'—Calpis is now available in over 10 countries and regions, including Asia and North America, with products tailored to local tastes and preferences.

About Varun Beverages Limited

Varun Beverages is the second-largest PepsiCo bottler globally (excluding the United States). The company operates across 27 states and 6 union territories in India and has expanded into international markets including Nepal, Sri Lanka, Morocco, Zambia, Zimbabwe, the Democratic Republic of the Congo, South Africa, Lesotho, Eswatini, Namibia, Botswana, Madagascar, and Mozambique. It manufactures, sells, and distributes PepsiCo-branded products, including carbonated and non-carbonated beverages and bottled water. As part of RJ Corp—a diversified conglomerate active in beverages, fast food, ice cream, dairy, retail, education, and healthcare in India and abroad—Varun Beverages is strengthening its global position by focusing on innovation, sustainability, and strategic partnerships.

Website: https://www.varunbeverages.com/

'Calpis' and 'CALPIS' are registered trademarks of Asahi Soft Drinks Co., Ltd.