Fresh Promise Foods widened its Harvest Soul Organic Chewable Juice line earlier this month when it unveiled two new flavors at the 2015 Natural Products Expo East, and the reception to this point has been reportedly positive. Despite the rapidly evolving landscape of the natural beverage industry, FPFI is firmly positioned to benefit from the marketability of its innovative product line.
“[Juice companies] are starting to evolve into having to have something else be a value add to their product or point of differentiation,” John Craven, chief executive officer of BevNET, stated in a video round up following the expo. “We have some that are adding probiotics and there are a couple of chewable ones… So far, I like what I see, and the response is definitely pretty positive.”
In recent years, innovative juice products have reinvigorated the market and spurred tremendous growth. According to a report by the LA Times, the cold-pressed juice segment, which features juices extracted without the use of heat, is currently valued at $100 million. The industry has also, traditionally, maintained a relatively low barrier of entry, with more than two-thirds of the juice market attributed to independent brands. However, all indications point to a shift away from this trend in the coming years, as larger beverage companies look to capitalize on the popularity of these healthy soft drink alternatives by establishing larger footholds in the market.
The first step toward this anticipated shift took place earlier this year, when cold-pressed juice producer Suja Life LLC announced a minority investment deal with The Coca-Cola Company (NYSE: KO). Following this $90 million investment, the global beverage powerhouse will begin distributing Suja products through its expansive distribution network, effectively limiting the ability of startups and independent beverage companies in the cold-pressed juice segment to gain traction on a nationwide basis.
FPFI remains in a favorable position to promote growth in the coming months by leaning on the unique benefits of the Harvest Soul Organic Chewable Juice product line – including the use of blended, chewable juices and the addition of healthy probiotics. In fact, the Suja deal could have a positive impact on FPFI’s market potential moving forward.
“That valuation [of Suja] is something that will probably spur additional investment in beverage companies,” continued Craven.
To view BevNET’s full review of the 2015 Natural Products Expo East, visit https://www.youtube.com/watch?v=4MWE5ez67LU
For more information, visit www.harvestsoul.com
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