July 23 (Reuters) - Coca-Cola raised its annual

organic sales and profit forecasts on Tuesday, signaling

consumers are willing to spend more for the beverage giant's

higher-priced sodas, energy drinks and juices mainly in

international markets.

The company's shares rose nearly 1% in premarket trading as

the company also posted a surprise increase in quarterly

revenue.

Coca-Cola has been foraying into newer regions in Asia and

Europe to keep its revenue growth intact and launching

reformulated versions of its drinks such as Coke Spiced and

Georgia Coffee in markets that are quickly turning

price-sensitive.

The company's average selling price rose 9% in the second

quarter, the Sprite maker said, while unit case volumes

increased 2%.

However, Coca-Cola saw volumes in the North America region

fall by 1% as consumers continue to be cautious with their

spending.

PepsiCo CEO Ramon Laguarta said in July that there

is "much more price sensitivity" across U.S. income groups and

not just low-income consumers.

New York-based rival PepsiCo missed second-quarter revenue

estimates as frequent price hikes and competition from

private-label brands resulted in falling sales of its snacks and

soda mainly in the United States.

Coca-Cola forecast fiscal 2024 organic sales to grow between

9% and 10%, compared with its previous expectation of an 8% to

9% rise.

The company expects fiscal 2024 adjusted profit to increase

between 5% and 6%, compared with its previous forecast of a 4%

to 5% rise.

Coca-Cola's second-quarter net revenue rose 2.9% to $12.31

billion beating LSEG estimates of $11.76 billion.

On an adjusted basis, the company earned 84 cents per share,

compared with estimates of 81 cents.

(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by

Anil D'Silva and Shounak Dasgupta)