After the success of Fruits Up, Vadodara-based Manpasand Beverages Ltd, leading fruit juice player, has announced entry into the coconut drink segment under the ‘Coco Sip’ brand name.
This new product consists of 100 percent natural packaged tender coconut water and will be positioned as a healthy and premium beverage the product will be available in 200 ml PET bottle, the company said.
Coco Sip will be available through nearly 1,000 retail stores and strategic tie-ups with select retailers.
India has a vast coastline of 7517 km and 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. It is estimated that nearly 700 million litres of branded coconut water was consumed globally in 2015.
Manpasand Beverages 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.