After the success of Fruits Up, Vadodara-based Manpasand Beverages Ltd, leading fruit juice player, on Tuesday announced entry into the coconut drink segment under the ‘Coco Sip’ brand name.

 

This new product consists of 100 per cent natural packaged tender coconut water. Positioned as a healthy and premium beverage the product will be available in 200 ml PET bottle, said Dhirendra Singh, Chairman and Managing Director.

 

India, with a vast coastline of 7,517 km, is the third largest coconut producer in the world. While branded and packaged coconut water consumption in India is still at a nascent stage, it has a big market in developed countries. In the USA, coconut water drunk by consumers has shot up from less than 5 lakh litres in 2004 to around 200 million litres in 2014, according to a study.

 

In Brazil, packaged coconut water accounted for around 20% of its total juice market in 2003 and by 2010 it had grown to around 65%. An estimated 700 million litres of branded coconut water had been consumed worldwide in 2015, excluding unbranded coconut water consumed in India and globally.

 

Most of India’s coconut drink market is in unorganized and non-branded sector, he added.

 

Coco Sip will be available through nearly 1,000 retail stores and strategic tie-ups with select retailers. “We also plan to deliver Coco Sip at consumers’ doorsteps through the e-commerce route.”

 

The Rs. 400 crore Manpasand is India’s only pure play beverage company with a flagship brand, “Mango Sip”. Its beverage brands are present in 24 states through more than 200,000 retailers, over 2,000 distributors and 200-plus super stockists. The company has two manufacturing facilities at Vadodara in Gujarat, one each at Varanasi in Uttar Pradesh and Dehradun in Uttaranchal and a new one is being set up at Ambala in Haryana. For the year ended March 31, 2015, company reported sales of Rs 360 crore and net profit of Rs 30 crore.

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