(Reuters) - PepsiCo Inc (PEP.N) expects healthier products to make up as much as 30 percent of its portfolio in 10 years, as the company expands its range of juice, dairy and grain products.
“Right now, good-for-you products are about 22 percent of the portfolio. It might rise to 27 or 30 percent of the portfolio (10 years from now), but the rest of it is also growing,” PepsiCo Chief Executive Indra Nooyi said on Monday in an interview with Reuters Insider in Moscow.
PepsiCo, known for its flagship cola and Frito-Lay snacks, has stepped up its focus on healthier products, including its Tropicana orange juice and Quaker oatmeal, to take advantage of the fast-growing market for healthy foods.
Last month, PepsiCo completed its acquisition of Russian juice and dairy company Wimm-Bill-Dann, making it that country’s No. 1 food and beverage company.
PepsiCo is also reportedly close to setting up a joint venture with a German dairy company to launch a yogurt brand in the United States.
PepsiCo’s stated goal is to more than double sales from healthier products to $30 billion by 2020.
Reporting by Martinne Geller in New York, editing by Matthew Lewis