Launched at the 2007 Hispanic Retail 360 Summit in Dallas, Texas, by the producers of Everest Premium Bottled Waters, the new product is called Everest Extra With Aloe. According to Aloecorp's market research, Hispanic consumers have traditionally used herbal ingredients and are therefore a prime market for innovative products, such as waters, that make use of botanical ingredients. The company recently highlighted Hispanics in particular as an ethnic group more likely to hand down the traditional use of herbals from one generation to the next. By contrast, it identified non-Hispanic whites as being more likely to follow recent trends or fads. In addition, the beverage format surfaced as an optimal delivery method via the aloe company's investigation. Based on Aloecorp's recent research into ethnicity and ingredients, 94 percent of Hispanic consumers prefer to enjoy herbal remedies in a tea or beverage. Formulators are likely to pay heed to this ethnic community's preferences as it gains increasing consumer clout. Fourteen percent of the US population is Hispanic and it is the fastest growing minority population, recently surpassing African Americans as the largest minority group. Ethnic preferences are not the only market factors that could potentially drive this product. Functional water as a category is the place to be for formulators. According to Euromonitor, in the US alone, the market for functional/fortified bottled water ballooned from $206mn in 2002 to $1.4bn in 2006. Manufactured by the Oneta Company, Everest Extra with Aloe may have a unique take on such products. The water contains Aloecorp's bioactive ingredient - Certified Plus - made from organic whole leaf aloe vera juice. The aloe rind has long been used as a laxative while the pulp has been put on burns and wounds for thousands of years. Besides being used in lotions and medicines, in recent years cosmetic companies have used aloe vera in a variety of products, especially moisturizers. Aloecorp, which is owned by the Korean Econet companies along with Unigen, has been investigating new health supporting applications for traditional aloe uses. Among these uses are the plant's properties for supporting cancer treatments. The research and development company also recently announced the results of a study which it said could open up a new category for the use of aloe in dietary supplements to enhance nutrient bioavailability. The University of California Davis study demonstrated the potential for aloe to enhance the biovailability of vitamins C and B12, as well as ORAC. As for the functional water trend, it is even getting the stamp of approval from the likes of Coca-Cola. In May, the beverage giant funneled its trust into the category with the $4.1bn acquisition of Energy Brands, known as Glaceau, and its fortified water brands including Vitaminwater. The company also gave its Dasani water brand a vitamin makeover. The line extension includes nutritionally enhanced vitamin waters with fruity flavors and matching slogans "refresh and revive", "cleanse and restore", and "defend and protect". Aloecorp's corporate headquarters are in Washington State, while its growing, processing and research and development centers are located in Texas, Mexico and China.