Who can resist an energy drink? Whether you enjoy their signature tangy taste or not, it’s hard to deny their near magical caffeine and sugar-fueled powers to keep you afloat through everything from long drives to lagging college lectures to sleep-deprived work days. It seems that energy drinks are exactly what the needs right now – a report from Monster energy drink producer Hansen Natural Corporation shows that, even despite an economic downturn, energy drinks are still generating “remarkable” growth.
In its second quarter, Monster Energy reportedly generated sales growth of 22.3 percent, outshining energy drink contemporaries like Red Bull and Rock Star. “Despite the difficult economic environment in our major markets the U.S. and Europe, the energy drink category has continued to show growth,” said Hansen Natural CEO Rodney Sacks in a conference call to analysts. “This is quite remarkable in the face of general consumer weakness and higher gas prices.”
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Hansen Natural Corporation is also attempting to move into the energy shot sector with Worx Energy, but that product has yet to find its niche and is struggling to keep up with runaway market leader 5-Hour Energy. Still, Sacks insists that Hansen won’t be abandoning efforts in the U.S. market as Red Bull did. “Obviously [Worx Energy] is very, very far away from the 5-Hour numbers,” Sacks acknowledged, “but it’s starting to gain traction… The margins are good, and so we believe there are still good and valid reasons for us to persist in trying to find the formula that will work to be a credible competitor in that category.”