Krating Daeng maker launches Ready for him and her
TCP Group, the maker of Krating Daeng, has introduced two premium energy drinks under the Ready family to attract office workers and young consumers.
Surachai Chonglertvarawong, the company's director of marketing, said TCP has spent 100 million baht to launch Ready Black for men and Ready Pink for women to suit consumers aged 20-25.
The drinks contain less sugar in response to the coming tax on sugary drinks, Mr Surachai said.
The launch of the two premium drinks marks the first step in TCP's five-year investment plan, with a goal to reach 100 billion baht in sales in the next five years.
Mr Surachai said office workers and younger people are customers with high potential and present a strong growth opportunity for the premium energy drinks market.
The value of premium energy drinks (those with a retail price of 15 baht or higher a bottle) is expected to reach 1.4 billion baht this year. The Ready brand leads the market with more than a 50% share, according to Nielsen Thailand.
The company expect sales of Ready Black and Ready Pink to contribute to 10% growth of the brand's sales and boost Thailand's premium energy drinks segment to reach 2 billion baht in the next two years, up from 1.4 billion this year.
Sales of Ready energy drinks were 450 million baht as of July and are forecast to reach 700 million by year end, up 10% from 2016.
The overall market size for energy drinks in Thailand last year was about 20 billion baht and is expected to grow by 1-2% this year, driven by premium products.
Mr Surachai said the launch of Ready Black and Ready Pink will not only strengthen the brand's position, but also reinforce its leadership in the premium energy drink market.