PepsiCo also rolled out a line of nonalcoholic cocktail mixers called Neon Zebra designed to appeal to younger consumers spending more time at home. In addition to Driftwell, it has launched a line of juice waters called Frutly aimed at teens, which is made with fruit juice, water and electrolytes. It has purchased snack and beverage brands like at-home water carbonator company SodaStream CytoSport, a maker of protein powders and shakes under the Muscle Milk brand and created a joint venture with Beyond Meat to develop, produce and market snack and beverage products made from plant-based protein.īut innovation is a key component of its expansion efforts into healthy and functional.
PepsiCo is best known for its sugar-laden offerings like its iconic namesake soda, but it has been moving aggressively into the better-for-you realm in recent years. PepsiCo said James will endorse other offerings in its portfolio, including snacks. AdAge noted Coca-Cola in January parted ways with James, ending a relationship that began in 2003 when he was 18 years old. Still, PepsiCo should benefit from the promotional heft of James, an NBA superstar the soda giant recently poached from archrival competitor Coca-Cola. It's evident that even with its commitment to stand out and the backing of the popular Mtn Dew brand it's using to launch the product, PepsiCo has its work cut out for it considering it is not the first player in the functional energy drink segment. Category sales are projected to more than double from $9.3 billion in 2014 to $19.2 billion in 2024, according to Mintel.
energy drink sector is one of the strongest performers in the nonalcoholic space. And beer giant Molson Coors Beverage signed an exclusive distribution deal to launch ZOA, a nonalcoholic energy drink made with natural ingredients such as turmeric, camu camu and acerola cherry, as well as vitamins, added electrolytes and amino acids. Coca-Cola, the world's largest nonalcoholic beverage company, also has launched its own energy drink loaded with caffeine, guarana extracts and B vitamins. PepsiCo chose to double-down on the category in 2020 when it purchased Rockstar for $3.85 billion and partnered with Bang. The segment is currently dominated by industry giants such as Monster and Red Bull that hold the lion's share of the market, but that hasn't stopped new players from entering the space. PepsiCo is taking aim at the morning coffee crowd with its promise of a caffeine jolt and a beverage that touts a mental boost and immune support.įabiola Torres, chief marketing officer of PepsiCo Energy, told CNBC the company knows the energy drink category is crowded, so it wanted to create a product line that would appeal to more than just the typical consumer who buys them.
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