Energy Drinks: Inc Impact of COVID-19 - US - May 2020
US $4,395.01 (Excl.Tax)Excl. Tax Buy Now
"The energy drink market has enjoyed consistent year-over-year growth even through the previous recession, because the beverages offer a simple, easy-to-understand value proposition: they are a tasty, convenient source of energy. The market is not immune to the impact of COVID-19; shelter-in-place orders are highly detrimental for products like energy drinks that tend to be impulse, one-off purchases. Even after shelter-in-place orders are lifted, widespread unemployment could hinder overall category growth. However, energy drink users tend to be category loyalists and will keep the market strong. Big energy drink brands can leverage trade spend appeal to value-conscious category buyers. Product innovation will remain important even during a recession, and the launch of Coca-Cola Energy suggests new consumers can be motivated to enter the market via familiar flavors and a brand consumers trust, but brands must always focus on delivering energy to consumers."
- Caleb Bryant, Associate Director - Food & Drink
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