By Shanima A

Oct 31 (Reuters) - Bottler Coca-Cola HBC raised

its annual forecast and exceeded market estimates for

third-quarter organic revenue growth on Thursday, supported by

strong demand for energy, coffee and sparkling drinks.

The quarterly revenue jump was fuelled by growth across all

segments in volume, pricing, and mix, the company said.

Beverage companies are experiencing higher demand despite

price hikes, supported by a gradually improving economic

environment that enhances customer sentiment.

However, U.S. beverage giants Coca-Cola and rival

PepsiCo ( PEP ) are facing challenges from local sodas in

Muslim-majority countries due to consumer boycotts that target

the globe-straddling brands as symbols of America, and by

extension Israel, at a time of war in Gaza.

The bottler has said that the Middle East conflict hurt its

business in countries such as Egypt and Bosnia.

"Like many other international brands, we have seen an

impact from the boycott in Q3 in Egypt. Volumes of Coca-Cola are

most affected, however, many of our other brands are less

affected or not at all," the company said in an emailed

statement to Reuters.

The company now expects an organic revenue growth between

11% and 13%, compared with a previous forecast range of 8% to

12%, and organic EBIT growth within the range of 10% to 12%,

above previous guided range of 7% to 12% for the full-year 2024.

The Switzerland-based company said its organic revenue grew

13.9% for the quarter, while analysts in a company-compiled poll

had expected a 10.8% growth for the three-month period ended

Sept. 27.

The bottler's organic volumes rose 4%, beating market

expectations of 2.6% for the quarter.

Coca-Cola, which holds more than 20% in the bottler,

announced last week that it aims to reach the higher-end of its

2024 organic sales forecast, driven by increasing demand.