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PepsiCo (NYSE:PEP) has been finding more success in emerging markets recently, mainly due the company's increased willingness to explore alternative food options. Led by Indian-born CEO Indra Nooyi, PepsiCo understands the importance of building a diversified portfolio of snack options to appeal to customers across the globe. PepsiCo competitor Coca-Cola (NYSE:KO) may have won the soda war, but PepsiCo holds more value because of the company's already diversified snack portfolio and growing consumer base.

PepsiCo recently followed in McDonald's (NYSE:MCD) footsteps, introducing a variety of new Indian products. Some of the products include a mango version of Slice soda, Nutri Poha a rice dish under the Quaker brand, Quaker oats with Indian flavors such as masala and lemon, and new Tropicana juices that appeal to the Indian consumers. This desire to expand into emerging markets such as India only add to PepsiCo's company value and consumer base.

Mexico is PepsiCo's leading emerging market with a "salty snack per capita consumption" rate of 100, for comparison purposes. If you index all the other emerging markets to Mexico, it shows the untapped potential of many of the other emerging markets. This is why it is extremely promising to see PepsiCo look to enhance its snack portfolio in India.

Salty Snack Per Capita Consumption (Index to Mexico)
Mexico100

Brazil

39
Russia28
China11
India6

PepsiCo was adamant in its Conference call on February 21, that the company would deliver an annual growth rate of high-single-digits to low-double-digits in emerging markets and maintain an EPS growth rate of 7%. Developments similar to the one we just saw in India, are encouraging signals for investors that PepsiCo is delivering on its end. Add in the growing organic portfolio of PepsiCo's as well, and you have a well balanced snacking giant that maybe could attract the likes of Whole Foods Market (NASDAQ:WFM) or other organic super markets in the future.

PepsiCo currently trades right around $76 per share. The company has a P/E ratio of 19.44 and a 52-week high of $77.41. At current levels, PepsiCo yields 2.82%, however the board has approved a 5.6% quarterly dividend increase beginning in June, so the dividend will be increasing soon.

Source: PepsiCo: Continuing To Emerge