Vita Coco is poised to make its dairy alternative debut with a coconut milk drink set to challenge Alpro’s dominance in the category.
Its Coconut Milk Alternative will arrive in chillers on 1 March with an rsp of £2.99 for a one-litre PET bottle designed to resemble a traditional glass milk bottle.
With a base of coconut water enriched by coconut cream, the NPD was “at the very core” of Vita Coco’s plans for the future, said European CEO Giles Brook. “Our strategy is to become synonymous with all things coconut.”
Set to be supported by a “substantial” marketing push, the 70% coconut product has no added sugar and offers 30 calories per 100ml with less than 2g of fat. It contains added nutrients including calcium and magnesium, and boasts a 60-day life.
“We’ve demonstrated in chilled juice through coconut water the impact we can make to the wider category and are committed to achieving the same level of success in milk alternatives,” said Brook, who earlier this month hailed “the next evolution” of Vita Coco with the launch of a ‘disruptive’ 750ml PET bottle for its coconut water.
Globally, Vita Coco expects to approach $1bn in sales this year by “owning the coconut in different areas of the store”, CEO Michael Kirban told Bloomberg this week, raising the brand’s profile as a possible acquisition target.
The brand’s coconut water – sold in 31 countries – is the bestselling coconut water brand in the UK, with value sales of £29m [Nielsen 52 w/e 8 October 2016].
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