The world’s largest beverage maker, The Coca-Cola Co. is currently diversifying its product range in China by introducing healthier and more functional products to cater to the changing consumer preferences in the country.
The President of Coca-Cola Greater China, Curt Ferguson said this move, considered the “next big thing” in the Chinese beverage market,contains products with more functional benefits, especially those that focus on health and wellness.
He mentioned that the US beverage maker will also consider launching products based on traditional Chinese medicine.
Ferguson said that Coca-Cola, which is already the top juice provider in China,will expand its range of juice products with an added focus on premium brands.
The President added that the focus on functional beverages and premium products has been necessitated due to the rapid growth of the middle-income group in China and shifting tastes across various age categories.
According to Ferguson, Coca-Cola has introduced more than 60 products under 20 brands in China.
The double-digit growth of the company in the country during the second quarter of this year has to some extent proven the popularity of the newly released products.
He included that Coca-Cola’s growth momentum in China can be attributed to the general escalation of the consumer goods sector from last year on the back of government policies to boost consumption and further opening-up, consumer centric approach in the market and people’s increased disposable income.
Source: China Daily