Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Progressive Digital Media Group PLC       GB00B1GCQP32

PROGRESSIVE DIGITAL MEDIA GROUP PLC

SummaryNewsCompany 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

GlobalData : Coca-Cola launches new energy drink to tap Vietnamese market, says GlobalData

share with twitter share with LinkedIn share with facebook
share via e-mail
09/05/2019 | 07:02am EDT
05 Sep 2019
Coca-Cola launches new energy drink to tap Vietnamese market, says GlobalData
Posted in Consumer

Coca-Cola has rolled out a new energy drink- Coca-Cola Energy- in Vietnam as part of the company's larger focus to evolve into a complete beverage company and offer the Vietnamese consumers a wide range of drinks to cater the different lifestyles and occasions, says GlobalData, a leading data and analytics company.

According to GlobalData's 2018 Q4 Consumer Survey, around 41% of Asia-Pacific (APAC) consumers prefer to experiment with new kind of soft drinks and around 40% of them are willing to pay more for better quality soft drinks.

Shagun Sachdeva, Consumer Insights Analyst at GlobalData, says: 'Soft drinks brands have been coming across increased competition amidst intensifying scrutiny of sugar-sweetened beverages and corresponding consumer efforts to make healthier choices. Against this backdrop, they are mapping out the wellness considerations for the products they are offering to attract a niche market of specialists such as sports enthusiast and athletes, whilst also appealing to the mainstream of active lifestylers.'

An analysis of GlobalData's Market Analyzer reveals that APAC energy drinks market is expected to grow at a compound annual growth rate (CAGR) of 7.9% from US$24.7bn in 2018 to US$36.2m in 2023. The Vietnamese energy drinks market is expected to reach US$1.46bn by 2023 from US$1.34bn in 2019.

Sachdeva adds: 'Energy drinks have become a key thrust for Coca-Cola to rejuvenate growth in the APAC soft drinks market. The company is quick to understand that soft drinks category needs an image makeover. As a result, it is breaking the long-standing lead in Carbonated Soft Drinks (CSDs) by expanding its range of drinks portfolio to tap the correct set of active and time-scarce consumers and embracing innovation to sustain a highly competitive marketing profile.'

The other factors contributing to the emerging growth of the Vietnam energy drinks' market are improving economic climate, socio-political stability and likelihood of stringent regulations as the Ministry of Finance has proposed a new sugar tax of 10% on sugary drinks from 2019.

Sachdeva concludes: 'The launch comes at a time when most of the beverage companies are going beyond soda and there is growing competition in the carbonated market following the influx of countless other carbonated brands. Even though, Coca-Cola is already offering energy drinks under the brand name Monster, the company's decision to launch energy drinks under its trademark will reinforce local identity, foster reassurance, create emotional resonance among the consumers and further deepen brand's equity in Vietnam.'

Disclaimer

GlobalData plc published this content on 05 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 September 2019 11:01:02 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on PROGRESSIVE DIGITAL MEDIA
2019GLOBALDATA : Quiz is failing to stand out
PU
2019GLOBALDATA : Massive MIMO products set to more than double from 31 in late-2018 ..
PU
2019GLOBALDATA : Russia emerges in autonomous vehicles sector, which will produce mo..
PU
2019GLOBALDATA : Colombia renewable capacity to reach 5.9GW but coal-based power sti..
PU
2019GLOBALDATA : New FDI rules in Indian retail sector reassure influx of investment..
PU
2019GLOBALDATA : Wearable tech poised to increase workforce safety and productivity ..
PU
2019GLOBALDATA : Coca-Cola launches new energy drink to tap Vietnamese market, says ..
PU
2019GLOBALDATA : Asia set to drive global new-build liquids storage capacity with 43..
PU
2019GLOBALDATA : British Airways' 100-year history could help it regain reputation a..
PU
2019GLOBALDATA : Utility-linked smart thermostats to account for 36% of $75bn automa..
PU
More news
Managers
NameTitle
Michael Thomas Danson Chief Executive Officer & Director
Bernard Anthony Cragg Chairman
Graham Charles Lilley Chief Financial Officer, Secretary & Director
Peter Martin Harkness Independent Non-Executive Director
Murray Legg Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
PROGRESSIVE DIGITAL MEDIA GROUP PLC1 962
S&P GLOBAL INC.14.21%75 127
RELX PLC-1.21%44 136
THOMSON REUTERS CORPORATION-0.60%32 722
WOLTERS KLUWER3.94%19 487
EQUIFAX INC.4.93%17 847