TCP targets 15% of new market share

TCP targets 15% of new market share

Mrs Prapaipak at the recent launch event for TCP Group's 'Mansome Vitamin Water'. The company wants to secure a 15% share of the market this year.
Mrs Prapaipak at the recent launch event for TCP Group's 'Mansome Vitamin Water'. The company wants to secure a 15% share of the market this year.

TCP Group, the maker and marketer of Krating Daeng energy drink, has expanded into vitamin water, aiming to become a top three leading player by the end of this year.

Prapaipak Weigl, the global marketing division's director (F&B), said the company recently launched "Mansome vitamin water" to the market to cash in on growing demand for healthy products and respond to the health-conscious trend among Thai consumers.

Vitamin waters are giving rise to a new multi-billion-baht beverage market, becoming a champion product during the pandemic while other beverages, including juice, bottled water, milk, sports drinks and ready-to-drink green tea, still suffer from tepid demand.

The government's policies to promote lower sugar content in drinks with favourable tax incentives are credited with boosting the growth of low-sugar beverages, with vitamin water a major beneficiary.

The speed of growth of vitamin water has been astounding. The market value of vitamin water jumped from 100 million baht in 2018 to 1.06 billion baht in 2019 and 2.2 billion in 2020.

The market is forecast to grow to 3.5 billion baht this year and will increase to 5 billion baht in 2022.

"In recent years, the trend of greater health consciousness has seen significant growth. This trend, coming at the same time as the Covid-19 pandemic, has prompted consumers to look for alternatives to help boost their health,'' Mrs Prapaipak said.

"This has contributed to the growth of the functional drinks market over the year despite the economic downturn, and the market is expected to grow further this year."

Mansome is the ninth brand that has entered Thailand's vitamin water market. Predecessors include Yanhee, Vitaday, Ichitan, B'lue, Aqua-Vit, Dr J and Purra.

Mansome vitamin water targets consumers who are looking for alternatives to help boost health and keep them feeling refreshed every day, said Ms Prapaipak, adding that the company plans to spend 150 million baht to promote Mansome this year.

It hired actor Pirath "Mike'' Nitipaisankul to be its product presenter to reach new generation customers. Mansome vitamin water is available via modern and traditional trade channels.

The company aims to control a 15% market share of Thailand's vitamin water this year.

Do you like the content of this article?
COMMENT