Olipop, a prebiotic soda maker is expected to reach $200 million in sales in 2023. Ben Goodwin, the CEO of the soda maker told a popular outlet that he was not ready to cash out despite interest shown by both the national food and beverage giants, Coca-Cola and PepsiCo.
CNBC reported the news but were unable to get confirmation from Coca-Cola or PepsiCo.
The outlet reported that founder and CEO Ben Goodwin estimated that about 10 percent of consumers who drink Olipop have totally replaced traditional soda with prebiotic soda. The rest of the soda drinkers use it for a break in their routine.
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Mintel U.S. research director Michele Scott told the outlet, “Consumers are drinking fewer soft drinks, but they’re still drinking a lot of soft drinks.”
Matthew Barry, insight manager for food and beverages at Euromonitor International told the outlet that brands such as Olipop and rival Poppi have seen increased sales due to two trends: soda’s decline and the rise of gut health.
Olipop adds nine grams of fiber and prebiotics to its formula. Although their health benefits have not been conclusively proven, these ingredients are said to help the growth of beneficial bacteria in the gut.
The outlet also reported that Goodwin said that Olipop’s root beer sold more than Keurig Dr Pepper’s A&W at an unspecified top retailer in the U.S.
The CEO said that the root beer was his formulation. He also mentioned that he was the top formulator at the startup and that his taste buds were more sensitive than those of the average person. The startup now sells 12 flavors in 20,000 locations.
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Despite soaring sales, Olipop has a long way to go to reach the soda sales of the nation’s top soda and other beverage manufacturers. Two reasons are costs and supply chain. A Target store in New York City charges $2.49 for a 12-ounce can of Olipop and the same amount for a 20-ounce bottle of Pepsi.
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