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Snack and beverage giant Nestle (OTC:NSRGY) is looking to spur growth in its bottled water segment with some innovative products.
What Happened
Nestle is the world's largest bottled-water maker, but its global water volumes dipped 2.2% from January through September, according to CNBC. To address poor sales, the company is turning to a handful of new products for 2020, including an energy water drink, functional beverages and mineral-infused water.
Nestle's Poland Spring unit is also set to launch a canned sparkling water drink which is made from green tea extract. Since green tea is known for its high levels of caffeine, the water drink will include the same amount of caffeine as a standard cup of coffee, CNBC noted.
Why It's Important
Nestle's market research found consumers are in an "energy crisis" and requires a "boost," Yumi Clevenger-Lee, chief marketing officer of Nestle Waters North America, told CNBC. Existing options today are mostly "plain" or loaded with high amounts of sugar.
"They need that morning or afternoon burst of energy to keep them going, so this is really based on the idea of gentle caffeine," she said.
Nestle is scheduled to launch its functional water lineup, Nestle Pure Life Plus lineup in February. There will be three varieties to choose from, including magnesium, zinc, and potassium. All three varieties won't include artificial sweeteners and sugar.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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