The energy drink market is the fastest growing segment within the beverage industry. Experts believe the market for energy drinks will grow 86 percent over the next five years to a $11.9 billion category, in the United States alone.
Red Bull, perhaps the world’s best recognized energy brand, is introducing new flavors to complement their original flavor. The three flavors will come in different colored containers, red for cranberry, blue for blueberry and silver for lime.
The new flavors or “editions” as the company is calling them will be released in Chicago, New York, Los Angeles, Miami, Austin, New Orleans and Las Vegas. The new Red Bull flavors will be sold in 8.4 ounce cans and in 4 packs.
Until recently, Red Bull only offered two variations: the standard Red Bull, and a sugar-free variant. Meanwhile their lead competitor, Monster Energy drinks is available in 27 different flavors, as well as coffee-flavored versions.
Red Bull’s addition of new flavors comes as their largest competitor, Monster, surpassed their sales volume in 2012, according to Bloomberg Businessweek.
Experts speculate the introduction of new flavors may be a positioning move based on rumors of a possible acquisition of Monster by Coca-Cola. Last April, shares of Monster Beverages surged mid-session after The Wall Street Journal reported that Coke was in talks to buy Monster.
Source: Chicago Business Journal