According to The Street , In recent years, coffee has long been the go-to beverage for people seeking an energy boost, but a younger generation is turning to new sources of caffeine. This shift has propelled energy drinks to become the second-most popular dietary supplement consumed by young adults in the U.S. The energy drink market, valued at $19.2 billion in 2023, is expected to grow at a steady rate of 8% annually, reaching an estimated $33 billion by 2030. This promising growth has attracted several companies eager to tap into the booming sector, either by launching their own energy drink brands or acquiring existing ones.
Molson Coors, known for its portfolio of well-established beer brands, is one such company expanding into new markets. While the brewing giant has traditionally focused on alcoholic beverages like Coors Light, Miller Lite, and Blue Moon, it has begun diversifying its offerings in recent years. In addition to expanding its non-alcoholic beverage line, Molson Coors has ventured into the rapidly growing energy drink sector.
In September 2024, Molson Coors made headlines with its acquisition of a majority stake in ZOA, a “better-for-you” energy drink brand co-founded by actor and former professional wrestler Dwayne “The Rock” Johnson. Although the financial details of the deal were not disclosed, this acquisition gives Molson Coors the ability to lead ZOA’s marketing, retail, and direct-to-consumer strategies, enhancing the brand’s growth potential.
ZOA has already made significant strides since its launch in 2021, landing among the top 10 energy drink brands on Amazon with an impressive 50% repurchase rate. About 30% of ZOA’s customers are new to the energy drink category, demonstrating its ability to attract a fresh consumer base. The collaboration between Molson Coors and ZOA, which began with Molson Coors taking a minority stake in 2021, has continued to strengthen, with the brewing company increasing its stake and joining ZOA’s Board of Directors in 2023.
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With Molson Coors’ expanded role, ZOA is set to undergo a visual overhaul, with plans for new packaging and an upcoming national marketing campaign featuring Dwayne Johnson. As part of their partnership, Molson Coors is confident that ZOA will continue to grow and meet the increasing demand for healthier, functional energy drinks.
“ZOA opens the door for us to participate in more parts of the day and incremental opportunities beyond our core business,” said Michelle St. Jacques, Molson Coors’ Chief Commercial Officer. “We’ve built a strong foundation with ZOA over the past three years and see tremendous potential for the brand to scale further.”
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