Muhtar Kent, chief executive officer of Coca-Cola, on Tuesday welcomed what he called signs that a global consumer recovery was under way in emerging markets, as the regions helped Coke to offset falling sales in the US and Europe during its third quarter.

Coke, the world’s largest soft drink company, reported a 2 per cent increase in sales volumes in the third quarter against the same period last year, with sales rising by 37 per cent in India, 15 per cent in China, 9 per cent in Mexico and 3 per cent in Brazil.