Minoa Water’s goal is to expand its market share and strengthen its export activity.
Operating under the principle of Doing Well by Doing Good, Minoa Water has made significant investments in sustainable development—from design and materials to recycling. The company launched the first Greek water packaged in recyclable paper cartons made from plant-based materials, using spring water from Zervochori, Imathia. Its unique composition, rich in calcium and magnesium and free from heavy metals and synthetic pesticides, has already cultivated a loyal customer base that values products promoting health, offering value for money, and respecting the planet.
Behind this business venture is Mr. Manolis Tsaldaris, President of Waterfresh SA, who spoke to Fortune about the water industry, the challenges it faces due to climate change and population growth, and the growth potential for businesses driven by a green philosophy put into real action.
Mr. Tsaldaris, what does sustainability mean to you in practice?
We take our role as a “green” company very seriously. Our aim is to minimize waste during the production of packaging and reduce energy consumption. Our company works hard to limit its environmental impact. To truly implement sustainability, a shift in public mindset is required—and that cultural change is a long-term priority on our agenda.
Minoa was the first Greek water brand to use recyclable paper packaging. How difficult was it to gain market share while also having the responsibility of educating consumers?
The biggest challenge for us was changing consumer habits. Minoa asked consumers to reconsider their choices and adopt paper packaging as the preferred format for water. Once the customer becomes familiar with the product and understands its advantages, market share naturally follows.
How are consumers responding to sustainability-oriented products? Are Greek consumers willing to pay a bit more for eco-friendly packaging?
In recent years, Greek consumers have become increasingly aware and, at times, even demand products aligned with values like sustainable development, ethical production, and the use of natural materials. Since our products are entirely produced in Greece, they don’t carry a high cost for the end consumer. We believe Minoa Water’s pricing serves as an incentive rather than a deterrent.
What makes MINOA bottled water different from other brands on the shelf? What is its competitive advantage?
MINOA bottled water is rich in magnesium and contains ideal mineral ratios. The fact that it’s packaged in paper— which preserves both the quality and temperature of the water by blocking light—makes it a unique innovation in the Greek market. Another advantage is the resealable cap, which helps keep the water fresh and hygienic after each use.
Energy crisis, inflation, and the pandemic have reshaped how businesses operate. How are you preparing for what lies ahead, and what best practices can you share?
Those challenges certainly affect most businesses. Our philosophy is that crisis periods can create opportunities. Having already adopted green industrial practices over the past few years, we’re using that advantage to methodically and reliably enter new international markets. Every business must adapt to market conditions and move forward accordingly.
Climate change and overpopulation are critical issues for the future. Are we at risk of water shortages? Has Minoa Water made any forecasts regarding water resource availability, and what is your plan B?
I believe climate change is now an unavoidable reality. That’s why we work hard to develop innovative solutions that make a real environmental impact. Water scarcity is already a major issue in many countries. However, Minoa Water’s sources contain abundant water reserves that, under normal circumstances, aren’t at immediate risk. Nonetheless, through ongoing research and technological development, we continue to introduce unique consumer solutions.
How did 2022 close for Minoa Water, and what does your business plan include for the upcoming year?
Despite the challenges in the market, 2022 was a very positive year for Minoa Water. Our products expanded their presence both in B2B sales and through distribution to retail points. After strong financial results in 2022, our goals for the coming year are to boost our export capacity and establish ourselves as a key player among Greece’s leading water brands.
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