Published on : Feb 08, 2016
The market for carbonated soft drinks is witnessing a major change with big giants such as the Coca-Cola Company diversifying its portfolio by including healthy beverages. Coca-Cola has recently announced that it will launch its flavoured milk brand ‘Vio’ across India in 2016. The country is one of its major markets in Asia owing to an ever-increasing young population. The company is expected to make investments worth US$5 bn in India by 2020. The flavoured milk brand will be customized according to local taste.
Indian Health Beverages Market Witnesses Lesser Demand for Carbonated Soft Drinks
Coca-Cola’s plans for increased investments in the Indian health beverages market is a result of growing consumer preference for healthy drinks over carbonated soft drinks. The company is positive about the health beverages segment to emerge as a key revenue driver for the company in future.
Asia Emerges as Key Market for Health Beverages
Rising disposable income, economic growth, and urbanization across countries such as India and China have led to increased demand for convenient, on-the-go healthy drinks, particularly flavoured milk. Increased awareness about health benefits from dairy has led younger population in the region to include dairy products such as flavoured milk in diet. India is the largest producer of milk across the globe and even though, white milk is majorly consumed across Indian households, there is a huge demand for flavoured milk. While milk is a traditional beverage in the region, consumption of aerated drinks is considered as an indulgence. Considering all these factors, Coca Cola is targeting young consumers across Asia with healthy beverages. ‘Vio’ might prove as the right product to capture the growth of the health beverages market in India as well as Asia.