China Huiyuan Juice Group, the country's biggest pure juice and nectar maker, aims to become the top juice beverage producer in three years after a recently launched product received positive feedback.
Huiyuan's aggressive plan is aimed at challenging larger rivals such as Coca-Cola, which owns Qoo branded drinks, Hong Kong-listed food and beverage company Uni-President, and Tingyi (Cayman Islands) Holding Corp.
Huiyuan held 6 per cent of the diluted juice drink market by sales value last year, ranking fourth, compared with about 30 per cent each for Uni-President and Coca-Cola.
Chairman Zhu Xinli said the company expected the new kiwi juice beverage to boost its market share.
'The kiwi juice we launched at the beginning of this year was well received by consumers,' said Mr Zhu. 'It is the first of its kind in the market. We will use this product to differentiate ourselves from other brands.'
He said the company aimed to maintain its leading position in the high-end pure juice and nectar market as it expanded into diluted juice drinks to maintain its overall margin.
Huiyuan derived 29.4 per cent of its total revenue from diluted juice drinks, with nectars and pure juice accounting for 42.2 per cent and 22.4 per cent, respectively.