TCP Group’s 2024 Highlights: Advancing Leadership in Asia’s F&B Sector

TCP Group’s 2024 Highlights: Advancing Leadership in Asia’s F&B Sector Meeting Consumer Needs – Collaborating with Partners – Driving Sustainability

TCP Group unveiled its business highlights for 2024, reinforcing its position as a leader in the F&B industry. The company is focused on entering the global market by creating quality products and brands that meet consumer needs, while further penetrating both domestic and international markets. Additionally, TCP Group is expanding its partnerships across government, business, and social sectors to collaboratively generate sustainable, positive impacts across all dimensions.

Mr. Saravoot Yoovidhya, Chief Executive Officer of TCP Group, said, “This year marks another significant milestone for TCP Group as we introduce new product innovations to the market and advance our growth strategies both domestically and internationally. Guided by our purpose of “Energizing a Better World for All,” we are committed to three core strategies: Fulfilling – energizing our brand, Growing – energizing our growth, and Caring – energizing our environment. Importantly, we are collaborating with partners from various sectors to progress toward becoming an organization that not only achieves sustainable business growth but also generates positive impacts on society and the environment, both in Thailand and beyond, with a goal to establish TCP Group as a leader in Asia’s F&B industry.”

In 2024, TCP Group introduced innovative, high-quality products across a range of brands, complemented by consumer engagement activities that consistently generate market excitement. This reflects the effectiveness of a business strategy focused on high-quality product development, expanding the market to engage modern consumers, and building brands that align with global trends. Additionally, the company has invested in projects emphasizing sustainability across economic, social, and environmental dimensions. TCP Group has continuously expanded its collaborations with partners in government, business, and social sectors, showcasing its remarkable potential to overcome economic challenges. This reaffirms its role as a Thai organization competing on the international stage with stability and sustainability.

Fulfilling – Energizing Our Brands

TCP Group is committed to developing innovative products and establishing new global brands, reinforcing its position as the “House of Great Brands” to meet the diverse needs of consumers.

• “Red Bull Soda” introduced its newest flavor, “Blueberry Blackcurrant,” co-developed with “Bacon Time,” a pro player ROV esports team, to create the favorite flavors of gamers. Red Bull Soda’s Blueberry Blackcurrant flavor fulfills the energy needs and addresses the lifestyles of the modern generation, further energizing Red Bull’s growth within the premium beverage market.

• The launch of “Sponsor Isotonic,” a new, less sweet, and quickly refreshing formula, marks the first time an isotonic electrolyte drink has been introduced in Thailand, designed to help the body quickly absorb water, electrolytes, and nutrients. This latest beverage innovation in the Thai industry enters the 5.4 billion baht sports drink market and aligns with health and wellness trends.
• Sponsor made history as the first Thai brand to bring the “Women’s Volleyball Nations League 2024 (VNL) Finals” to Thailand. This collaboration with Volleyball World promoted the Sponsor brand reaching consumers who are sports fans worldwide, with at least 20 million unique viewers during the competition.

• In partnership with 7-Eleven, “FarmZaa,” a soda beverage made with “Mapeed,” was elevated from farm to “FarmZaa” with a nationwide rollout. This launch includes the “FarmZaa: Caring for Thai Farmers” campaign, which donates 1 baht from each can purchased to the Agri-Nature Foundation, supporting the sustainable growth of Thai farmers.
• A highlight event of the year is the inauguration of the Red Bull Skate Park, a collaboration with the Bangkok Metropolitan Administration. This initiative transformed the sports hall at Benchakitti Sports Center into Thailand’s largest public indoor street skate park. This new landmark ignited a skateboarding trend, inspiring a new generation that embraces an active lifestyle, and promoting good health.

Growing – Energizing Our Growth 

TCP Group continues to expand its presence in the global market, responding to consumer demands through collaborations with business partners across different regions. The company is committed to enhancing its brand image and positioning itself as a major player in the international F&B industry.

• TCP Group continues to penetrate foreign markets, focusing on China, where the energy drink market is valued at up to 300 billion baht. By early 2025, the company plans to begin operations at its third plant in Guangxi, following an investment of approximately 6.5 billion baht.
• At THAIFEX – ANUGA ASIA 2024, TCP Group showcased its potential by introducing Sponsor, Ready, and Warrior as key products targeting new markets, including Africa, India, and the Middle East, with the aim of expanding their new generation customer base in overseas markets.

Caring – Energizing Our Environment

TCP Group is advancing its water management plan in collaboration with partners to achieve its Net Water Positive goal, returning more water to nature and communities than is used in the production process. Additionally, progress has been made in all four key areas of sustainability operations:

1)  Product Excellence: In 2024, TCP Group increased the proportion of health-oriented products by improving existing formulas and developing new ones, resulting in a total of 13 SKUs. This represents 72.92% of all products, with a goal of reaching 80% by 2026.

2)  Circular Economy: TCP Group is committed to achieving its goal of 100% recyclable packaging by 2024. This year, the company also introduced the use of rPET bottles with the Mansome Collagen Less Sugar, marking the first use of rPET in Thai functional drinks. This initiative helps reduce the use of virgin plastic PET.

3)  Low Carbon Economy: TCP Group has reduced greenhouse gas emissions by 10% and now utilizes over 80% renewable energy, aiming for net zero greenhouse gas emissions by 2050.

4)  Water Sustainability: The company has reduced water usage in the production process by 24% compared to 2019 and has returned over 1.5 million cubic meters of water to nature and communities through the TCP Embracing Thailand’s River Basin project. To date, this project has returned more than 17 million cubic meters of water, enabling TCP Group to achieve the Net Water Positive goal ahead of the 2030 target.

Highlighted sustainability activities in 2024 include:

• TCP Group organized the TCP Sustainability Forum 2024 for the third consecutive year under the theme “Water Resilience in a Changing Climate.” The company is collaborating with partners to encourage Thai businesses to build resilience and rapid adaptability to address future ‘water resource’ challenges.
• The TCP Embracing Thailand’s River Basin project, a collaboration with government agencies, the social sector, and communities, has received regional recognition, winning the Asia Responsible Enterprise Awards (AREA) in the Social Empowerment category and the Steward Leadership 25 award in 2024 at the Asia-Pacific level, with TCP Group being the sole Thai company to receive this honor.
• The company launched the WEnergy for the world campaign, emphasizing environmental responsibility in all activities, starting with an eco-friendly advertisement made from reused footage without the need for new filming, thereby minimizing resource use and greenhouse gas emissions. This initiative was followed by the TCP WEnergy re.run 2024, an eco-conscious running event that collected packaging for recycling in collaboration with Grungthai Group and Thai Beverage Can Ltd. (TBC), as well as the “Get Free Drinks All Year Long, Let’s Recycle Forever, Just Drink-Separate-Get Reward” activity in partnership with Big C, which established packaging collection points and further recycling efforts with Grungthai Group.

• TCP Group received the 2024 Climate Action Leading Organization (CALO) award at the “Excellent Level” from the Thailand Carbon Neutral Network (TCNN) committee.
• The company won first prize for the Comprehensive Waste Management Model award in the factory office buildings category under the Bangkok Metropolitan Administration Comprehensive Waste Management project across 50 districts in 2024.

In November 2024, TCP Group participated in the opening ceremony of the “Royal Initiative Community Water Management Natural Museum” at the Ban Mae Khaming Community, Wang Chin District, and Ban Huai Khuem Community, Rong Kwang District, Phrae Province. These two areas are part of the TCP Embracing Thailand’s River Basin project area, which aim to serve as key learning centers sharing sustainable community water resource management ideas with other interested communities. In addition, a memorandum of understanding was signed under the TCP Embracing Thailand’s River Basin project, in collaboration with the Utokapat Foundation and the Hydro-Informatics Institute (Public Organization) (HII) to advance Phase 2 of community water resource management under the royal initiative, utilizing science and technology.

 

 

 

 

 

“Sustainable growth requires a commitment to social and environmental responsibility. TCP Group aims to not only build strong brands and expand our business sustainably, but also to be a driving force in creating a better world. We will continue to pursue our purpose of ‘Energizing’ a Better World for All, benefiting our consumers, society and planet,” concluded Mr. Saravoot.