Functional beverage specialist firm +PW has set its sights on the ‘huge’ China market for its collagen-enriched RTD drinks, planning to bank on its convenient consumption format and unique flavour formulation to overcome market challenges.
In western markets, +PW is perhaps best known for its Protein Water products targeting consumers looking to replenish protein post-workout. Here in Asia though, the firm has opted for a major push of its Collagen Booster drink as it believes that there is even greater promise for this.
The India market and increased innovation in health and functional trends hold the key to improved financial performances, claims Korean heavyweight Lotte.
Lotte recently announced its Q2FY2023 financial results, combinedly reporting 5.9% sales growth year-on-year to KRW3.87tn (US$2.92bn) across its consolidated businesses including food, beverages, retail, chemicals and more, but an overall 9% year-on-year decline in operating profits to KRW159bn (US$120.2mn).
Beyond Chinese diaspora: TCM firm Eu Yan Sang pursues new audience in North America’s health and wellness market
Singapore-headquartered Traditional Chinese Medicine (TCM) company Eu Yan Sang is actively pursuing growth in North America’s health and wellness market by targeting not just the Chinese diaspora, but also those who are willing to give the category a try.
The company, which celebrates its 144th year in 2023, decided to focus more on the US and Canada about a year ago.
Food and beverage brands looking to make inroads into Asia need to tread the line between growing health consciousness and increasing consumer concerns over costs.
In particular, there needs to be more focus on improving overall on-pack product messaging.
Supplementation with Korean Red Ginseng could reduce the production of the stress hormone cortisol, according to the findings of an eight-week RCT conducted among 90 men who reported being under stress.
Participants who took Korean Red Ginseng also shown a lower reduction in the “happy” hormone serotonin.