A beverage brand that specializes in functional shots, Ethan’s is breaking into the energy drink category for the first time with a line of Organic Energy Shots formulated with green tea, lion’s mane and guayusa.
Sales of energy shots are slumping as their medicinal taste and less favorable position as a supplement drive consumers to reach for energy drinks, which many shoppers consider safer, according to new research from Mintel Group.
While it might not be able to sustain its early “meteoric” growth rates, the energy shots market still has significant growth potential and can potentially target a far wider audience than energy drinks, market researchers have predicted.
A David vs Goliath battle is set to be waged in the US energy shots sector as two ex-Marines seek to carve out a niche in a market so competitive that even Red Bull has thrown in the towel and made a sharp exit.
The US energy drinks sector is continuing to generate ”quite remarkable” growth despite the depressing economic climate and high gas prices, according to the owner of Monster Energy drinks and Worx Energy shots.