The concept for the drink came from within and was proposed by an inhouse competition launched by CEO Ramon Laguarta. Emily Silver, vice president of innovation and capabilities for PepsiCo North America's beverage unit called it the fastest new product the company has ever launched, but that its timing couldn't be better. "I think we're launching this at a time when there's more consumer interest than there previously was, given everything that's going on from a macro perspective. From a scientific and regulatory perspective, we feel really good about making that claim around L-theanine. Specifically, we have safety in clinical data to prove that it works," Silver told CNBC.
CNN says Driftwell is classified as an "enhanced water" and hopes to compete in the sleep aid and relaxation market. PepsiCo is also hoping that Driftwell is able to claim a spot in the functional drinks market- a small but growing niche of beverages enhanced with vitamins, herbs, plants, and minerals that offer a potential health benefit. So think of drinks like probiotic kombuchas, "golden milks," and high energy teas. It's also a moneymaking space, which earned its producers nearly $31.7 billion in 2019, says Euromonitor International. The functional beverages fill what food and beverage analyst Darren Seifer called a sweet spot. "We think about beverages in three ways: Taste, function and hydration. These functional beverages, they're trying to hit that sweet spot in the middle," he said.
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Why you'll want to have Pepsi's newest drink before bed - Mashed
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