CNPF expands dairy business
Century Pacific Food Inc., one of the country’s leading food and beverage companies, has expanded its dairy portfolio by unveiling a chocolate malt brand targeting younger consumers.
CNPF’s newest brand, “Choco Hero” is a ready-to-drink choco malt milk drink for kids.
“We see a lot of opportunities in driving innovation in the dairy space. Milk is a prime source of nutrition, yet the Philippines’ per capita consumption of milk is less than 10 percent than that of more developed countries,” CNPF executive chair Christopher Po said in a disclosure to the Philippine Stock Exchange on Wednesday.
The new product was described as “full of vitamins and minerals that boost strength, mental alertness, and energy.”
CNPF is a key player in the local dairy market, operating in both beverage and culinary segments. While flagship brand, Birch Tree Fortified, focuses on affordable immunity-boosting dairy products, Choco Hero is seen to focus on the energy-boosting space.
Pyrus dela Cruz, CNPF vice president and general manager for milk, said: “Accessibility is still one of the biggest challenges for this category, especially nowadays. Our consumers have been in this pandemic for two years. It’s imperative for key players to make dairy products more affordable.”
The brand “Choco Hero” is now available in leading supermarkets and sari-sari stores nationwide at a starting price of P5 per unit – described as CNPF’s most affordable product to date. The new brand comes in family-size and single servings.
The launch of ‘Choco Hero’ is the latest among CNPF’s recent string of innovations, coming at the heels of its entry into emerging categories, such as pet food and plant-based alternatives.
“Developing relevant innovations, especially for our emerging businesses, is central to our growth strategy. It is important that we build these new pillars to continuously diversify our revenue streams and, ultimately, future-proof our company,” Po said.