USA – PepsiCo and Vital Pharmaceuticals Inc, the manufacturer of Bang Energy drinks, have entered into an exclusive partnership for PepsiCo to distribute the portfolio of Bang Energy beverages in the United States.
The alliance, which came into effective on 28th April 2020, is set to significantly increase distribution of the Bang beverage lineup.
Bang has been a welcome disruption to the energy category, touted as a brand that delivers “great-tasting energy drinks that give consumers more of what they want and less of what they don’t want,” and has quickly rocketed to the third-largest brand in the energy category.
Representing the proliferation of the energy category, Bang Energy was also the single-largest contributor to overall Liquid Refreshment Beverage growth in 2019, according to IRI MuloC value growth by trademark, L52
The Bang Energy brand was introduced in 2012 and is carried in more than 200,000 outlets in the United States with products designed to provide functional benefits to the next generation of energy consumers.
“In the ultra-competitive energy category, Bang Energy has thrived, pioneering the performance energy segment and attracting the next-generation of energy consumers,” PepsiCo Beverages North America CEO, Kirk Tanner said.
“This alliance plays a central role in PepsiCo’s overall energy-beverage strategy and enables us to significantly accelerate the distribution of Bang Energy to meet rising consumer demand.”
Bang Energy Chief Executive Officer, Jack Owoc said that the combined power of the two organizations will be a meteoric partnership, which he termed as “one for the beverage history books,”
“Bang is committed to serving zero-calorie, highly effective innovation and exceeding our consumers’ expectations. When it comes to the category, we have invented the future by reinventing the game,” Jack adds.
According to projections by the Allied Market Research, the global energy drinks market size was valued at US$53.01 billion in 2018, and is expected to grow at a CAGR of 7.20% to reach US$86.01 billion by 2026.
In 2018, North America dominated the global energy drinks market. However, Asia-Pacific is expected to grow at the highest CAGR of 7.30% throughout the forecast period, owing to increase in disposable incomes and change in demographics.
Asia-Pacific along with North America account for almost 55% of the global energy drinks market share. The energy drinks market in North America is primarily driven by increase in health concerns and rise in awareness toward the benefits of consuming energy drinks.