TCP Group Unveils Growth Roadmap for China Showcasing the Success of “Red Bull” as the Fastest-Growing Energy Drink Brand in the Country
TCP Group Unveils Growth Roadmap for China Showcasing the Success of “Red Bull” as the Fastest-Growing Energy Drink Brand in the Country
TCP Group has unveiled its growth roadmap for China, marking the 31st anniversary of the Red Bull brand’s entry into the Chinese market. The company is set to commence operations at its third manufacturing plant in Guangxi by early 2025, a move that aligns with TCP Group’s purpose of “Energizing a Better World for All” as it targets the 300-billion-baht Chinese energy drink market, while remaining dedicated to delivering high-quality, innovative products that cater to the diverse needs of Chinese consumers.
Mr. Saravoot Yoovidhya, Chief Executive Officer of TCP Group, said, “China has been TCP Group’s most important overseas investment market since establishing our first Red Bull factory in Hainan in 1993. We are committed to providing diverse experiences to Chinese consumers through the Red Bull brand, while continuing to promote cultural, economic, and trade cooperation between Thailand and China. Looking ahead, we will continue to offer high-quality products to Chinese consumers and expand our investment in in the country.”
For over 30 years, the Red Bull brand has driven business growth in China by investing in world-class manufacturing facilities and building a unique brand identity that resonates with Chinese consumers and global audiences alike. Red Bull aims to further penetrate the country’s 300-billion-baht energy drink market and has been recognized by Kantar Worldpanel as one of the “Top Growing Brands” in the Chinese market and a pioneer in introducing the first Red Bull product in a PET bottle in China.
Expanding Opportunities for TCP Group in China
Mr. Saravoot stated, “China continues to attract entrepreneurs, driven by robust domestic consumption, technological innovation, and infrastructure development. The Chinese government’s policy supporting foreign investment plays a key role, while China’s proactive measures to promote foreign investment have helped establish a solid foundation for TCP Group’s business path in the Chinese market, reinforcing our commitment to deepening our presence through sustainable, long-term investments.”
“With the Chinese government’s efforts to promote a more welcoming and stable business landscape, Red Bull, having been active in the Chinese market for over three decades, remains dedicated to increasing our investment through concrete actions. We are committed to playing a pivotal role in the supply chain, driving the development of our partners at all levels and supporting an environment that benefits all industries. TCP Group remains steadfast in our long-term investment plans for China in the future,” added Mr. Saravoot.
TCP Group’s Business Roadmap for the Chinese Market
TCP Group’s journey in China began in 1993 when it established its first Red Bull factory in Hainan, led by founder Mr. Chaleo Yoovidhya. The launch of the Red Bull brand under its Chinese name, “Hong Niu,” marked the introduction of the first energy drink in the Chinese market, which gained popularity among consumers.
To meet market demand and seize growth opportunities in China, TCP Group invested approximately 16.5 billion baht in the provinces of Sichuan and Guangxi to expand Red Bull’s production base in western China, a key strategic market with significant trade potential for the company. The investment in Sichuan was the largest foreign direct investment in the province’s food and beverage sector in 2023, serving as a model for economic and trade cooperation between Sichuan and Thailand.
In December 2023, TCP Group commenced operations at its second production facility in Sichuan, which covers roughly 167 rai (approximately 26.68 hectares). The plant, a 10-billion-baht investment, has an annual production capacity of 1.44 billion cans with a projected production value of five billion yuan (approximately 25 billion baht). By early 2025, TCP Group plans to commence operations at its third plant in Guangxi, following an investment of approximately 6.5 billion baht since its inauguration in July 2023.
According to Mr. Saravoot, “Upgrading digital systems and intelligent technologies, along with promoting sustainability across the food and beverage industry chain, is critical for quality development. We have embedded these principles into all our operations, including our factories in China, by incorporating digital technologies that align with global energy conservation standards for green factories, from production to sales, to enhance efficiency and sustainability, ensuring that our operations become more effective in the future.”
Red Bull Remains the Leading Energy Drink in the Chinese Market, Expands Appeal to the New Generation
Red Bull is currently the fastest-growing energy drink brand in China, their success highlighted by a unique and modern brand image, quality products with appealing flavors, and a diverse range of product offerings. Red Bull also conducts marketing activities that enhance consumer experiences to best meet the needs of the younger generation. These efforts have strengthened its branding, aligned with the lifestyle trends of young Chinese consumers, fueling ongoing sales growth. Red Bull also continues to expand its promotional marketing activities to reach a broader audience and strengthen brand recognition, ensuring it retains its leadership in the energy drink market.
Recently, Red Bull partnered with QQ Music’s Dian Feng Awards to host the “Very Thai – Dian Feng Music Festival” at the Chengdu International Intangible Cultural Heritage Expo Park in Chengdu, China. The festival featured top Thai and Chinese artists, offering attendees an exciting experience. Thai performers included MILLI, Ally, and THE TOYS, alongside Chinese musicians Joker Xue, Wilber Pan, Chusheng Chen, and Bird Zhang. The “Very Thai” festival is part of TCP Group’s celebration of the 50th anniversary of China-Thailand diplomatic relations in 2025.
“This year marks the 31st anniversary of Red Bull’s entry into the Chinese market. We remain committed to strengthening our business and growing in China by focusing on innovation, exceptional quality, and sustainable development as we approach 2025 – a golden year for diplomatic friendship, celebrating the 50th anniversary of Thailand-China relations. TCP Group is dedicated to furthering strategic cooperation with China, and we look forward to an even brighter future together in the Chinese market,” concluded Mr. Saravoot.
