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PowerPlant Ventures announced that the fund has acquired ZICO coconut water from The Coca-Cola Co., Atlanta. PowerPlant Ventures, a growth equity investor, was co-founded and is co-led by Mark Rampolla, who is the brand visionary behind ZICO, which he founded in 2004 and sold to The Coca-Cola Co. in 2013.
Although sales for the coconut and other plant waters market might be down for the five-year period of 2014-2019, brands are innovating their lines to help bring the category more mainstream.
Domestic and exotic fruits finding favor in the beverage market include lemon, lime, peach and strawberry, while up-and-coming exotic flavors include blood orange, passionfruit and guava.
Similar to last month’s poll, readers continue to show interest in cannabis beverages. In the Readers’ Choice: New Product poll for July, Beverage Industry readers selected YOLO Shots: CBD-Infused Caffeine Shots as their favorite new product release.