Singha Soda, the market leader in Thailand, has partnered with legendary motorcycle brand Harley-Davidson to create a limited-edition, co-branded product, aiming to attract a new segment of consumers, particularly bikers and younger demographics.
The expansion of the consumer base comes as Singha Soda is facing challenges. The overall THB 12 billion Thai soda market is set to decline by 5% in 2024 due to a decline in the spirits market, which is a significant consumer of soda. Economic downturn and weakened purchasing power have led to a decrease in spirits consumption.
According to Singha Soda, currently, over 70% of soda consumption in Thailand is associated with spirits, 20% is mixed with non-alcoholic beverages and only 10% is consumed plain.
The company is targeting the growing highball trend in countries like South Korea, China, and Hong Kong, where younger consumers are more open to international drinking cultures. Expanding into international markets is seen as a key strategy for Singha to achieve significant growth, as the domestic market is becoming increasingly saturated.
Singha Soda has launched Singha Highball in South Korea. To enhance its market position, the company is exploring the possibility of establishing a manufacturing facility in South Korea to optimise costs and competitiveness.
