Taipei, April 3 (CNA) The Coca-Cola Company has rolled out its first bottled green tea in Taiwan with the aim of carving out a bigger space in the country's profitable tea market, the company said Wednesday.
Coca-Cola has a 5 percent market share in Taiwan's tea market at the moment, and aims to add 5 percentage points to its market share with the launch of the new product, said Kao Wen-hung, general manager of Coca-Cola Taiwan.
The new product, branded Yuan Tsui, is advertised as the first bottled green tea in the domestic market that contains Japanese maccha, is sugar free and has zero artificial flavoring. It is priced at NT$25 (US$0.84) per bottle.
Tea products account for 40 percent of Taiwan's beverage market, with a scale of more than NT$50 billion. Of the figure, green tea accounts for the largest share with 45 percent, worth over NT$20 billion, which is higher than that of black tea, oolong tea or milk tea, Kao said at the product launch.
He expressed the hope that the company will battle for the market share and become a giant of the bottled tea world along with market leader Uni-President.
He said that a budget of NT$100 million has been allocated for this year to promote the tea.
Over the next five years, he went on, Coca-Cola will be channeling more of its marketing efforts through social networking websites, which will be a break from its previous marketing strategy, which relied heavily on TV commercials, accounting for 80 percent of the total budget, Kao said, adding that this figure is expected to drop to 50 percent.
Kao also said that the company has no plans to increase prices for its products this year, despite rising costs such as higher electricity prices and raw material prices.
(By Chao Hsiao-hui and Nell Shen)