US: Ocean Spray seek Korean expansion
A representative of Ocean Spray Asia Pacific said "We believe that Korea is a pretty big opportunity. I am focused on the strategic perspective in the Asian market and seriously looking at Korea with other countries like China, India and Indonesia’’
Ocean Spray has been exporting cranberry juice to Korea since the early 2000s through a variety of importers but unified the channel to Shinsegae Food beginning in 2007, with around a 20 percent growth per annum since then. However, they are seeking greater and faster, expansion, believing the market holds much unrealised potential.
Good news for Ocean Spray is a forthcoming Free Trade Agreement between the US and Korea which will see a tariff on cranberries lifted.
Juices are usually drunk on the move by Koreans and Ocean Spray plan to market the juice in small containers in respect of this cultural fact.
Source: www.koreatimes.co.kr
