Chandigarh February 19: Coca-Cola has been on a product diversifying effort since over a decade due to its core soda business seeing a decline over its adverse health effects.
One of the biggest moves it made in this direction was launching Fairlife in 2012 as a joint venture with wholesale dairy producer Select Milk Producers, according to a CNN report.
Coca-Cola then completely acquired the brand in 2020 for $980 million. In 2022, it announced that Fairlife surpassed $1 billion in sales.
Americans remained drawn to Fairlife’s ultra-filtered system which draws out lactose and sugar from the milk, but doubles its protein content. This is despite the US seeing rising food prices and a spending pullback.
Its most popular product however, is the Core Power protein shake brand which doesn’t have a lot of competitors and remains a popular staple at many grocery stores, according to the report.
Protein shakes are a $6 billion market in the US, according to the report which cited data from Beverage Digest.
Summary: Coca-Cola is diversifying its product line by selling milk and protein shakes as part of its strategy to grow its business.