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This is set to position its low-sugar, natural sodas as a disruptive force in the global $1.46 trillion (R25.64 trillion) non-alcoholic beverage market.
The company has quickly become a South African staple and is widely available nationwide in grocery retailers and restaurants, including Vida e Caffe.
It was voted product of the year for innovation for 2020 in the cold beverage category and the best-tasting non-alcoholic beverage for 2019.
Headquartered in Cape Town, PURA Soda is now available in 13 countries, including the United States. Its products are also available at select major retailers in the Middle East.
The company is focused on growing its footprint across Africa and globally, which it is doing by tapping into the healthier beverage market.
It has had notable success in the United States market so far, with sales crossing $1 million (R17.56 million) on its launch day.
PURA managed to attract interest from American retailers, including the likes of Target, Whole Foods, and Costco. Already, the drink can be purchased from major retailers like Amazon, Walmart and Lowe’s.
According to the latest data from Grand View Research, the global non-alcoholic beverage market was valued at approximately $1.46 trillion (R25.64 trillion) in 2023. This excludes coffee, tea, and dairy-based drinks.
This segment encompasses products such as carbonated soft drinks, bottled water, fruit juices, energy drinks, and functional beverages.
It is projected to grow at a compound annual growth rate of 6.0% from 2024 to 2030, reaching an estimated value of $2.1 trillion (R36.87 trillion) by 2030.
PURA Beverages anticipated global health and wellness trends within this product category nearly a decade ago, well before sugar reduction became the standard.
Since entering the market in 2017, the company has aimed to disrupt traditional beverage categories across global markets.
It does this by offering natural, low-sugar, and preservative-free drinks that taste good for consumers. Ultimately, their goal is to reinvent classic sodas.
Going global
PURA CEO Greig Jansen explained that in the past 12 months alone, sales of beverages with 100% natural cane sugar have grown by more than 50% to over $600 million (R10.53 billion) in revenue in the United States.
“Consumers are becoming disillusioned with zero-sugar products that rely on synthetic sweeteners or sugar substitutes. They want the real thing, but less of it. PURA Beverages is here to deliver on that demand,” he said.
“We remain steadfast in our mission to create a movement around modern refreshment by offering better-for-you drinks that break the tension between taste and refreshment.”
A spokesperson for the global investment firm stated that they were very excited and bullish about this investment in the beverage space. They described PURA as a brand that would lead the next soda revolution.
The investment is part of a $2 billion (R35.12 billion) portfolio of assets and forms part of several global positions. The firm has committed to supporting the business and brand in reaching their full potential.
The investment will be leveraged to accelerate PURA Beverages’ market penetration, brand building, and marketing worldwide.
It will also provide the funds required to increase and support product listings across major retailers, predominantly in the United States but also in other international territories.
The capital injection is supported by a Global Excellence in Beverage Innovation Award, which Global Brands Magazine issued to PURA earlier this year.
“Securing this investment – and award – is more than a business milestone, it’s a powerful endorsement of our brand, product, and the global opportunity ahead,” Jansen added.
“We’ve built a brand with international appeal, rooted in product innovation and consumer insights, and timed perfectly with consumer demand.”
The investment will be directed toward securing top-tier talent, strengthening local as well as global distribution networks, expanding the product portfolio, and accelerating marketing initiatives.
“With this investment, we now have the ability to attract top talent and build a dream team that will continue to deliver on our growing ambitions,” he said.
Issued on Daily Investor by Kirsten Minnaar | https://dailyinvestor.com/business/101446/the-south-african-drinks-company-coming-after-a-r25-trillion-market/
