Coca-Cola pushing to get their market share of the energy drink sector
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(Media-Newswire.com) - Coca cola the internationally known beverage giant, is set to push ahead into the energy drink market and try to take the crown from the well-known Red Bull. Recently the soda giant won an arbitration case against one of their own Monster beverage. Coca Cola has been at war with the energy drink manufacturer since 2018, even with Coca Cola owning over a 16% stake in, as Monster Beverage have said that if Coca Cola were to launch an energy drink in the U.S it would violate their agreement.
With Coca Cola winning the case, many Wall Street analysts are expecting Coca Cola to bring Coke Energy to U.S consumers in the near future. The energy drink has already been launched in some European markets and Australia this year, and the response from consumers has been more than positive. Coca cola’s product has gained a significant portion of shelf space in European supermarkets. With these factors in mind, Coke Energy could make fast headway into the U.S energy drink space. A spokesperson for Coca Cola has said in a recent interview that the plans the company has for their energy drink, will be shared with investors and the public in the near future. “Overall, Coca-Cola Energy is a new energy product under the Coca-Cola brand and is more closely associated with classic Coke. We see Coke Energy as an addition to the category for a different energy drink audience,” the spokesperson says.Indeed it makes sense for Coca-Cola to go after the energy drink market as it continues to see impressive growth. And hey, it’s just a big market with a lot of consumer interest that could easily support another entrant.
Sales and revenue for energy drink sales in the U.S reached $11.8 billion USD for the last 52 weeks ending on the 25th of May. A significant increase of almost 9% year over year, so it is obvious to see why Coca Cola wishes to push their product in the market place.
This story was released on 2019-07-05. Please make sure to visit the official company or organization web site to learn more about the original release date. See our disclaimer for additional information.