Energy drink innovation declines
This article was originally published in The Tan Sheet
Market research firm Mintel reports that, after a surge of nearly 400 energy drink and energy shot product introductions in 2008, the rate of launches slowed dramatically, with only 46 new products introduced from January to May 2009. However, sales in the energy beverage segment grew approximately 240 percent between 2004 and 2009, according to the firm's July report on energy beverages. While Mintel projects 2009 energy drink sales will reach $4.6 billion, the recession slowed market growth to less than 10 percent from 2007 to 2008. The firm previously predicted growth would slow as shelves become saturated with energy products (1"The Tan Sheet" Sept. 8, 2008)
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