Thanks to increasingly hectic lifestyles, consumers are becoming increasingly stressed and fatigued, which is stimulating demand for fortified/functional beverages with energy-boosting properties. This trend is particularly strong among blue-collar workers who need to maintain high energy levels as their work can be labour intensive.
FF RTD coffee registered the fastest retail value growth in 2018 due to the rising popularity of the coffee-drinking culture and the reliance on caffeine to help boost energy and concentration levels. However, growth was from a low base as these products have limited appeal.
The average unit price of FF beverages continued to witness an increase at the end of the review period. In FF RTD coffee and FF 100% juice, consumers are showing increasing sophistication and trading up to more premium options, such as RTD Espresso coffee and superfruit juice.
Osotspa retained the top spot in fortified/functional beverages in 2018 due to the popularity of its energy drinks and wide distribution. The company engages in promotional activities, such as sponsoring the Thai League 2 M150 Championship, a co-sponsor for Thai League, and a co-sponsor for the Thai national football team and regional sponsor for M150 Cup tournament, to boost its image as an energy-boosting choice.
Carabo Tawandang leverages on its existing strong branding and growth momentum. The brand targets generation Y consumers through sophisticated design and aggressive marketing.
Domestic players continue to account for the lion’s share in FF beverages with the top three players – Osotspa, TC Pharmaceutical Industry, and Carabao Tawandang being domestic players and accounting for more than half of FF beverages value shares. Domestic players can tailor their product offerings to meet changing consumer demands faster than global players.
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Overview: Discover the latest market trends and uncover sources of future market growth for the Fortified/Functional Beverages industry in Thailand with research from Euromonitor's team of in-country analysts.
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The Fortified/Functional Beverages in Thailand market research report includes:
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