PepsiCo purchased Poppi for $1.65B in hopes of attracting more Gen Z consumers. While Coca-Cola just announced the launch of their own prebiotic soda, Pepsi has jumped on the shift by buying the already Gen Z-loved Poppi—spending close to $2B with the aim of keeping Gen Z hooked on their “modern sodas.” The “functional beverage” market is growing, with U.S. sales surging 54% to $9.2B in the last four years. And Poppi’s bold branding and influencer-heavy marketing (remember their sponsored Coacherla with Alix Earle?) have made it a standout. With Gen Z leading the trend of health beverages, the competition to win over these soda lovers is only heating up. (Fast Company)
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