July 10, 2009
Jolts in a bottle now $700M market
Slugging down quick shots of a concentrated energy drink has now become a $700 million enterprise, a U.S. market research firm said.
Sales of small shots of caffeine-loaded drinks that typically come in 2-ounce bottles has almost doubled from the $370 million in business the energy shots rang up a year ago, Consumer Edge Research reported.Sales of 16-ounce energy drinks, like Red Bull, have hit a plateau, The New York Times reported Friday. But energy shots are taking off.
Living Essentials, a Michigan firm, controls 80 percent of the market with with its product 5-Hour Energy, Consumer Edge Research said.
But competitors are hot on the trail.
Frequently with a bitter taste, new products like 6 Hour Power and Mr. Energy 9-hour Energy are finding their way into stores.
They typically boast a walloping dose of caffeine and essential vitamins, but New York University nutrition professor Marion Nestle said,
it sounds like a great placebo to me.
And I'll bet you ask people and they say they feel better. It's got caffeine -- why not? she said.