Thai Drinks, the marketer and brand manager of est Cola, is keen on regional expansion in Asia, targeting the Gen Z segment.
Suporn Denpaisarn, head of division for non-alcoholic beverages at Thai Drinks, said the company expects the Thai carbonated soft drink market to grow by 25% in the hot season because of warmer weather and intensive marketing campaigns from brands.
According to data collected from February 2023 to January 2024 by Nielsen IQ, the company achieved 15% growth, surpassing the market average of 12%, with a market value of 66 billion baht.
Est Cola maintained its market share at 8.6%, with revenue from Bangkok comprising 37%, the central region 28%, the Northeast 19%, the North 10% and the South 5%.
Ms Suporn said this year the company will continue to expand its Gen Z customer base, which accounts for 36% of its sales, as well as other age groups, including customers in the Northeast, the most populous region in the country.
The Thai population was 66 million in January 2024, with more than 21.7 million living in the Northeast, according to the National Economic and Social Development Council.
She said over the past few years, a new generation of Asians have emerged on the global stage, gaining recognition and popularity worldwide while building soft power in the fields of entertainment, music, sports, fashion and food.
The company wants to tap the Gen Z market, expanding est Cola's customer base in Thailand and Asia.
Thai Drinks aims to promote est Cola in Southeast Asia.
"The growth opportunity in the region is phenomenal," Ms Suporn said. "We see a huge opportunity for our branded beverages to gain market share in the region."
The cola's revenue derives mainly from Thailand at present.
"In January, we expanded our brand in Cambodia as we have a local distributor there, in conjunction with Oishi green tea," she said.
"Est is also showcasing idols who represent the Asian new generation, including Jeff Sator, a popular Thai artist who won an award on the reality show Call Me by Fire Season 3, and Ink Waruntorn, a top Thai female singer."
The company plans to distribute up to 1 million product samples throughout 2024, across Thailand and Asia.
The samples will be showcased during Jeff Sator's Asia tour, which is scheduled for stops in five major cities across the continent.