PepsiCo, the food and beverage company, seems to have found a way to reap the pandemic's benefits in the long term.
PepsiCo announced a new addition to the "functional beverage" category available for purchase starting December – Driftwell. First, it will be available online and beginning in 2021, in stores. The beverage's purpose is to help consumers relax and sleep. The drink is said to contain L-theanine, a substance found in tea, and it eases anxiety and improves mental function, as the company aims to have a functional beverage that could "hit that sweet spot in the middle."
However, in the past few years, PepsiCo has been looking to secure its position in the #health and #wellness sectors by purchasing KeVita – a kombucha beverage maker, and Health Warrior – a plant-based energy bar company.
The release time comes when many consumers are reporting sleeping trouble caused by anxiety that's pandemic-driven.
PepsiCo is trying to take a dip in the $1 billion over-the-counter sleep aid and relaxation markets, but it is not the first major company to do so. Coca-Cola launched Coca-Cola Energy with B-vitamins and various flavors, and caffeine.
Molson-Coors Beverage Co. launched Vizzy – a sparkling seltzer with vitamin C, and it's getting ready to hit the shelves with MadVine and Golden Wing.
Year-to-date, PepsiCo stock price broke even, while USA500 added 4.7%.
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Sources: edition.cnn.com, marketwatch.com
