Celsius (CELH) Goldman Sachs Global Staples Forum 2026 summary

Category trends and growth drivers

• Energy drinks have evolved from impulse, male-oriented purchases to daily lifestyle beverages, with sugar-free and lifestyle-focused options driving growth.

• The category is experiencing robust growth, exceeding expectations, with brands like Alani Nu nearing double-digit market share and growing over 50%.

• Shelf space for energy drinks is expanding, often at the expense of other categories like alcohol, especially in convenience channels.

• Increased consumer usage occasions and packaging innovations, such as smaller cans for different dayparts, are boosting consumption frequency.

• The category's outlook remains strong, with continued space gains and retailer enthusiasm.

Portfolio performance and optimization

• Q1 saw 138% top-line growth, driven by the Alani Nu acquisition, though CELSIUS brand growth has moderated due to SKU rationalization and integration efforts.

• An optimization project is underway to boost productivity and velocity, with permanent shelf space gains expected to be completed by quarter-end.

• SKU rationalization has caused a temporary disconnect in scanner data, but velocity per SKU is up 17% since January, and Amazon sales are up 23% year-to-date.

• Shelf space gains are expected to reach 17% for CELSIUS, with incremental placements like end caps and coolers driving higher velocity.

• The optimization process is expected to be completed in the coming weeks, setting up for stronger performance in the back half of the year.

Innovation and brand integration

• Innovation for CELSIUS is limited in 2024 to focus on integrating Alani Nu into the PepsiCo system, with more robust innovation planned for 2027.

• Alani Nu maintains a strong innovation cadence, with new limited-time offerings (LTOs) planned for both brands in the second half of the year.

• The portfolio now holds a 21% market share in the energy drink category, with differentiated positioning for CELSIUS, Alani Nu, and Rockstar.

• Cannibalization between CELSIUS and Alani Nu is minimal due to distinct taste profiles and target demographics.

• Alani Nu's growth is driven by expanded distribution, especially in convenience, and a loyal, passionate consumer base.