Coca-Cola
Coca-Cola Says Coronavirus Dampens Growth Projections For The Year
Coca-Cola has lowered its financial expectations of five percent growth for the year because of the impact of the coronavirus pandemic. The move comes as soft drink buying occasions – sporting events, concerts, movie theaters and restaurants – have been canceled or closed as governments implement social distancing. Coke said it cannot estimate the blow to its business at this time, although it “could be material.” The company said that it expects to provide an update when it reports its first-quarter earnings. In late February, Coca-Cola forecast that the virus will hit its first-quarter earnings by one to two cents, unit case volume by two to three percent, and organic revenue by one to two percent. The company does not foresee any interruptions in its production at this time. Currency fluctuations are also expected to hit Coke’s business, according to a regulatory filing. Coke stock has fallen 23 percent so far this year.[Image Credit: © Business Wire, Inc.]
Coke India Continues Some Bottling Operations
The Coca-Cola India System announced it will continue to operate essential services during the coronavirus pandemic despite temporarily suspending production at manufacturing facilities in the country. The company said it is operating bottling facilities “in a very small number complying with the local government’s regulations and the safety of all our employees” and to ensure the safety of workers, products, and assets. The Coca-Cola India system directly 25,000 people and indirectly employs thousands of others. [Image Credit: © THE COCA-COLA COMPANY]
Other Companies
Coconut Water Sales Up Sharply, Supplies Slide, As Coronavirus Sweeps U.S.
Thanks to supply concerns generated by the coronavirus pandemic, coconut water and other canned and bottled waters have become scarce in West Coast stores. Sales of products from Vita Coco, which makes shelf-stable coconut waters and canned traditional waters, have spiked sharply, a trend accelerating nationally via e-commerce platforms. The company’s coconut water sales soared 200 percent on Walmart.com over last year, and sales via Amazon were up 60 percent through March 8. Its Ever & Ever line of aluminum canned water also spiked 210 percent after the U.S. Centers for Disease Control issued guidance about Americans preparing for the outbreak. Bottled and canned water are among the products in high demand in the U.S. as uncertainty swells around the coronavirus outbreak – even though the CDC has stated the virus has not been detected in drinking water. [Image Credit: © All Market Inc.]
Myprotein Brings Clear Vegan Protein Powder To U.S. Market
U.K. sports nutrition company Myprotein, hoping to exploit growing American interest in vegan products, has introduced a version of its clear plant-based protein shake in the U.S. Available in a powder in coconut/mango and pear/ginger flavors, Clear Vegan Isolate contains vitamins needed for a plant-based diet, including B12, and ten grams of protein per serving, but no fat or sugar. It is sweetened with stevia and monk fruit extracts. The company has produced a clear vegan protein powder since February in the U.K. [Image Credit: © The Hut.com Limited]
Ugly Drinks Expands Product Line with Unflavored Seltzers In Pint-Sized Cans
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U.K.-based Ugly Drinks has added both still and unflavored sparkling waters in 16 oz. tallboy cans as it embraces the idea of non-PET packaging options in the U.S.. The line, available on Ugly’s website, will begin rolling out over the coming months to broadliners KeHe and UNFI as well as regional DSD partners Rainforest in New York City, Hensley in Arizona and Ajax Turner Co. in Tennessee. The suggested retail price for singles is 99 cents to $1.29, while 12-packs are available for $18.99. Both still and sparkling varieties contain purified reverse osmosis water sourced from New York state. Ugly will also introduce the still water in a 330 ml can in the U.K. next month. With this launch, Ugly’s product range now contains flavored sparkling water in both 12 oz. and 16 oz. cans, as well as flavored energy water, still water and unflavored sparkling water in 16 oz. tallboys. [Image Credit: © Ugly Brands Inc]
California Start-Up Gojai Offers Organic Caffeinated Seltzers In Three Flavors
Southern California-based start-up Gojai has introduced an organic sparkling energy water that sources its caffeine from unroasted coffee beans. Gojai, made using reverse osmosis triple filtration, differs from other organic, caffeinated energy drinks on the market because it has only 45 mg of caffeine per 12-oz can. Two out of the range’s three flavors – orange, lemon, and grapefruit – include ingredients grown on her citrus and avocado ranch. All are zero calorie, zero sugar, and zero preservatives. All the fruit juices, edible flower oils and natural flavors are certified organic. Twelve-packs are available online at $19.99.[Image Credit: © Gojai]
U.K. Turning From Bottled Water To Diet Soft Drinks?
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The U.K.’s Natural Source Waters Association (NSWA)reported data showing that 2019 experienced a decline in natural source water sales – but an increase in fizzy diet sodas – in the U.K. compared to the previous year, driven by a cooler and wetter summer. The organization said the increase in sales of carbonated and energy drinks suggests that British consumers are switching away from packaged water in favor of diet carbonated soft drinks (CSDs). "Diet fizzy drinks benefited most, with diet colas alone taking 6.5 million liters of sales from the natural source water category," the organization said.[Image Credit: © Hans Braxmeier from Pixabay]
Mondias Acquires Québec Maple Water Producer Érablier Inc
Canada’s Mondias Natural Products Inc, which makes evidence-based natural products for the healthcare, bio-agriculture and functional beverages markets, announced it will acquire substantially all assets of functional maple water products company Érablier Inc of Québec, expanding its natural products-based portfolio. The acquisition is valued at $0.75 million. Érablier has developed a product made from the organic and pure processed water obtained from sugar maple tree sap. According to a Fact.MR report, the demand for maple water has grown to exceed 16 million liters in 2018 and consumers who drink maple water may enjoy the same experience as seen with coconut water. [Image Credit: © Mondias Naturals]
Office Coffee Distributor Rise Brewing Adjusts Mission, Operations During Coronavirus Pandemic
Like other companies trying to stay afloat during the coronavirus pandemic, office and school coffee provider Rise Brewing Co. is adjusting its business mission and operations. The company’s market has always been people in their offices in the daytime – “a massive part of our business.” But the company is now basically shut out of that market along with partner distributors that had filled office orders. Their businesses “are being turned upside down faster than almost anyone.” So, the company is pivoting away from distributing its nitro infused cold brew coffee in offices and at events to reach people instead in their homes as Americans practice social distancing and teleworking to slow the spread of COVID-19. Traditional logistical methods are being replaced primarily with mail and parcel delivery systems to homes, coupled with “pretty heavy discount programs” and an affiliate program.[Image Credit: © Rise Brewing Co.]
High Demand For Carrots Taxes Supply Capabilities Of Bolthouse Farms
California’s Bolthouse Farms has seen demand for its carrots double as panic buying grips U.S consumers and strains the food supply system amid the coronavirus pandemic. Bolthouse and rival Grimmway Farms harvest at least 80 percent of the country’s fresh carrot crop. The company has implemented measures to ensure worker safety during the health crisis. Bolthouse has 13 harvesting crews so it is able to shut down an afflicted crew and continue with the other 12. Private equity firm Butterfly Equity bought Bolthouse, also known for its refrigerated juices and smoothies, from Campbell Soup in 2019.[Image Credit: © Bolthouse Farms, Inc.]
New Light Lemonades From Calypso Debut Soon
Wisconsin-based King Juice company’s U.S. brand Calypso has expanded its line of light lemonades with four new flavors: original, ocean blue, strawberry, and southern peach. Containing 0 g of sugar and only five calories per bottle, the lemonades are made with real lemon fruit bits. Calypso Light Lemonades will be available to purchase for an RRP of $1.79 per bottle at Kroger in early April, with additional retailers to follow.[Image Credit: © King Juice Company, Inc.]
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