CP Foods to enter Health Drink segment

Charoen Pokphand Foods (CP Foods) is looking into the health drink category in response to growing consumer concern over the pandemic.
Prasit Boondoungprasert, CP Food’s Chief Executive said, “Without the outbreak, we might have taken another 3-5 years to raise Thais’ awareness about [the importance of] healthy food.”
The company invested Bt 500 million (US$15.86 million) on R&D with about 500 new food products launched annually in Thailand and worldwide. In September, it has launched its first functional drink under the brand of Innoweness.
Innoweness is initially sold at 7-Eleven stores but the company hopes to expand sales to other modern retail networks.
Innoweness is the second beverage brand under the company, after Meiji dairy products. Prasit said, “Innoweness presents food for tomorrow concepts, highlighting healthy nutrition and sustainable food products that serve consumption trends after the outbreak.”
CP Foods projects sales to reach Bt 500 million (US$15.86 million) during the first year from the new beverage and other liquid food launched which includes its corn and pumpkin soup, and 3 new beverages.
CP Foods reported 10% growth in sales for the first 8 months of 2020.