TCP opens the game to penetrate the 20 billion baht energy market, joins hands with Hall XS to release 2 new flavors, premium group Enhance the portfolio to receive a 3-year plan, accelerate the release of 10 new products, ready to invest 100 million, focusing on making media through the Tik Tok-E-Sport platform, targeting Gen Z, aiming for the end of the year 2022 to grow by 10%
Mr. Sarawut Yuwittaya Chief Executive Officer of TCP Business Group, Red Bull Beverage Company Limited, a manufacturer and distributor of beverages under the Krating Daeng brand, Ready, Ginseng Plus and Sponsor, revealed that the energy drink market is now worth 20 billion baht during the 7 period. Month (January-July) grew by 3%, a return to activity in 10 years.
While the company has a market share of 21%, it ranks second, primarily from the premium segment that drives the market. and can reach more than 50% of Gen Z consumers by adjusting the taste and packaging to be more modern In the past, energy products were quite popular among the working people. The energy drink market with the highest growth was Malaysia 40%, followed by Vietnam 9%, China 5% and Thailand 3%.
Mr. Sarawut said Energy drinks are a segment with great potential for expansion. After the Covid-19 situation has resolved, including opening the country Thus, more activities can be organized from such occasions. The company therefore brings the product “Red Bull” in collaboration with “Hall XS” Mondelez International (Thailand) Co., Ltd. under the strategy. collaboration
By bringing the strengths of both brands to develop an energy drink called Red Bull Halls XS. There are 2 flavors: Watermelon. and Mentholyptus without sugar, available through convenience stores at a price of 15 baht, targeting Gen Z aged 18-24 years, which is considered to be an extension of the success of the product resulting from the collaboration. The Halls XS Red Bull candy product launched in 2021 has been well received.
#Energenius
For marketing strategies for such products The company is preparing to invest 100 million baht, focusing on using digital media. on the tiktok platform and e-sports marketing mainly through the #Energenius campaign to conform to the behavior of the Gen Z group, as well as to support the Bacon Time team, the e-sports team of the new generation. By setting a target in terms of sales of 11%.
Mr. Sarawut further said about the plans for the next three years (between 2022-2024), the company continues to move forward as planned. by preparing to launch 10 new products under the Red Bull brand energy drink Focus on the premium segment by focusing on health trends With 0% sugar formula and can also help reduce sugar tax in the future
Currently, the premium segment consists of Ready brand, Red Bull, Ginseng Plus, which has approximately 10% of its portfolio. It also wants to expand the energy drink market in more new countries, which the company wants to become a leader in the Asian market within 3 years by focusing on differentiating both taste and modern image. as well as sending other brands under House of Great Brands to the international market especially the Asian market
“I must admit that Challenges in the market right now Even though the economy is improving Compared to COVID But still have to face obstacles about rising costs Of course, it affects the distribution of goods, so management must be strictly controlled. in order to cope with the next situation.”
However, the company aims by 2022 to grow 10% from the previous year. growing single digital The energy drink group is still a major port of revenue for the company.
Currently, TCP Group’s products are sold both in Thailand and around the world, consisting of 6 energy drinks, namely Krating Daeng, Ready, Ginseng Plus and Warrior.
followed by a group of sports drink sponsors, followed by a group of functional beverages, called Mansome, Mansome, Vitamin Water, and a group of ready-to-drink tea beverages, Puriku and Sunflower Seeds Sun Snack
