Energy drinks continues to be a COVID-resistant category as Monster Beverage Corp reports another record set of quarterly sales numbers.
The owner of the namesake energy drinks brand saw its sales in the three months to the end of March jump by just over 17% this week. An even better showing occurred outside the US, where sales increased by almost 30%.
While the ‘Monster Energy Drinks’ reporting segment – which also includes Reign Total Body Fuel – grew 17.9% to $1.17bn, the ‘Strategic Brands’ portfolio, mostly made up of energy drinks brands purchased from part-owner The Coca-Cola Co, was up a less impressive 5.1% at $67.8m.
Sales outside of the California-based company’s homeland increased group share to 37% in Q1 2021 from 34% in the corresponding period a year ago.
Co-CEO Rodney Sacks
“The company posted record first-quarter net sales and profits, despite the ongoing impact of the COVID-19 pandemic. According to Nielsen, the energy drink category, and in particular our Monster Energy brand, continues to accelerate in most of our markets, including the US.
“In the first quarter of 2021, we continued with our robust programme of product launches in both our domestic and international markets, with plans for additional launches during 2021.”
One cloud on the horizon, however, is can-shaped: MBC warned that aluminium can supply shortages were experienced during the three months in North America and Europe. Subsequently, the group said it has been sourcing cans from unspecified sources in South America and Asia. “Logistical issues, including ocean freight and port of entry congestion, could delay such supply,” MBC flagged.
The Coca-Cola Co owns a near-17% holding in MBC, having bought into the group in 2014.
To view Monster Beverage Corp’s official Q1 results statement, click here.