Osotspa Yanhee Beverage Co, the producer and marketer of Yanhee vitamin water, is strengthening its functional drinking water portfolio following the introduction of calcium water in the second quarter.
According to Supot Sumritvanitcha, the company's managing director, Yanhee calcium water was launched in June this year, with target customers comprising families, the elderly, and younger generations.
"The launch of calcium water aligns perfectly with ongoing healthcare trends, which accelerated during the pandemic, as well as the evolving lifestyles of the new generation," he said.
Yanhee calcium water is now available at 7-Eleven convenience stores, and is set to become available nationwide by next month. The company has also set aside a budget of 60 million baht for marketing communications to create awareness and promote an understanding of Yanhee calcium water through various activities.
Osotspa Yanhee Beverage is a joint venture between Osotspa Plc and Yanhee International Hospital Co, with an ownership of 55% and 45%, respectively.
According to Dr Supot, Thailand's vitamin water market is estimated to be worth 1.9 billion baht annually. During the Covid-19 pandemic, market demand surged beyond 2 billion baht.
The demand for vitamin water has stabilised since the Covid-19 situation improved. However, there remains significant market potential for Yanhee calcium water if the company can educate consumers about the benefits of calcium, especially considering the prevalence of osteoporosis in Thailand.
In addition to its vitamin water line, Dr Supot, also chief executive of Yanhee International Hospital Co, said his hospital has ambitious plans to invest 100 million baht in renovating Yanhee International Hospital between 2022 and 2024.
"Yanhee's business has almost returned to pre-crisis levels [in 2019], and the percentage of foreign customers has rebounded to 15%, after declining to 5% during the peak of Covid-19," said Dr Supot.
Before the crisis, Yanhee's customer base was primarily local, with 30% being foreigners from countries such as Myanmar, China, Vietnam and Cambodia, as well as the Middle East. However, the company has now witnessed an increase in customers from Japan and Indonesia.
Dr Supot expressed concern about political issues impacting the business, as any unrest could adversely affect its foreign customer base.
Yanhee International Hospital operates in four main sectors: hospital business, pharmaceuticals and food supplements, vitamin water, and solar cells.
Last year, Yanhee International Hospital's revenue amounted to 2 billion baht, and is expected to grow by 10% this year.