China Huiyuan Juice Group Ltd, the country's biggest maker of pure juice drinks, expects its revenue to grow five-fold in the next three to five years as consumers opt for healthier beverages.
Huiyuan plans to boost sales to 10 billion yuan ($1.3 billion) during the period, from 2 billion yuan last year, and targets gross margins between 30 and 35 percent each year, Vice President Matthew Gene Mouw said at the Reuters China Century Summit.
"Our target is to grow twice the rate of the market," Mouw said at the summit, held at the Reuters office in Shanghai. "We grow by taking market share from our competitors and from other beverages, such as carbonated drinks and water."
China's juice market is growing 10 percent a year and is crowded with players including Tingyi, Uni-president and Coca-Cola.
Huiyuan, 22.2 percent owned by France's Danone, controls 40 percent of China's pure juice market.