MANILA, Philippines - With the soda market showing minimal growth, Pepsi-Cola Products Philippines Inc. is turning to coconut-infused drinks to boost sales and add zest to its product portfolio.
Pepsi Phils. unveiled yesterday its newest offering – Tropicana Coco Quench – which is 100-percent fresh made from real coconut water, and pitched as a must-have health drink. The product will be available in 330 ml and one liter tetra-pak, which will retail for P30 and P80, respectively.
Partho Chakrabarti, president of Pepsi Phils., said Tropicana Coco Quench, the first locally-produced drink with an eight-month shelf life, will be available initially in the Philippines and later on to the rest of Asia as it seeks to expand its non-carbonated beverage segment.
Chakrabarti said the company is looking to sell two to three million cases of Tropicana Coco Quench annually as more and more people are drawn to the benefits of coconut water, which is believed to be an effective rehydration tool with a lower calorie count than most fruit drinks.
“The upsurge in demand for coconut water is remarkable. This phenomenon has drawn global attention to the Philippines as one of the leading sources of coconut water in the world,” Chakrabarti said.
Coconut water is also a rich source of iron, calcium and magnesium. It flushes out toxins to boost health.
Sales of coconut water sales have been doubling annually in the United States.
Chakrabarti said the new product will capitalize on the advanced technology of Tetra Pak packaging which allows it to stay fresh as the real fruit without the need for preservatives.
He said the non-carbonated beverage segment is expected to account for 50 percent of the company’s total sales in the next three years from the current 20 to 30 percent share.
Chakrabarti noted that in the past five years, the non-carbonated drinks market has been growing by 15 to 20 percent while the carbonated beverage segment has been rising by only five percent.
Pepsi’s roster of beverages include Pepsi-Cola, Mountain Dew, Seven Up, Mirinda, Gatorade, Mug, Tropicana, Lipton, Sting and Premier.
Pepsi Phils. jacked up its first semester profit by more than five-fold to P577.5 million on record sales volumes across its units owing to improved pricing and sales mix.
Moving forward, Chakrabarti said: “We have an insatiable hunger for growth. We intend to bring more product offerings and choices for the consuming public.”