Celsius Holdings (CELH) has gained the most shelf space among energy drink brands in the United States this year, a new Goldman Sachs report shows. The growth is largely driven by strong demand from Millennials and Gen Z, who are purchasing caffeinated beverages more frequently.
Goldman analysts, led by Bonnie Herzog, initiated coverage of Celsius with a Buy rating and set a 12-month price target of $72. Herzog said the brand is well-positioned to capture additional market share through innovation, broader distribution, and increased presence on store shelves.
Alani Nu also ranked among the largest gainers in shelf space in the non-alcoholic beverage category. While Goldman noted that Alani Nu’s long-term growth remains under scrutiny, confidence in Celsius’s expansion remains strong.
The report predicts that Celsius’s share of the energy drink market will continue to rise through the end of the decade. The growth is expected to be supported by increasing consumption among core consumers and ongoing shifts within the beverage sector.
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