Energy Drink Market Shakeup: Prime's Profits Plummet, Red Bull's Revenue Surges
The energy drink market in the UK has seen significant shifts in 2024. Prime Hydration, LLC, the company behind Prime energy drink, reported a substantial drop in profits, while rival Red Bull experienced growth.
Prime's pre-tax profit in the UK plummeted from £4.3m to £940,458 in 2024. This decline coincides with a 70% reduction in UK turnover, from £112.2m to £32.8m. Meanwhile, Red Bull's UK revenue increased to £668.3m, up from £594.1m in 2023. The Austrian company's pre-tax profit also rose, from £49.1m to £54.9m.
The UK government is considering a ban on Amazon Prime energy drink sales to under 16s in England. A consultation period is ongoing to gather evidence and views. Health and Social Care Secretary, Simon Harris, has hinted that the ban could come 'a lot sooner' than initially anticipated. This announcement follows a significant drop in sales for Prime and increased sales for Red Bull, which now holds a record 36.8% market share in the UK, a 1.7% increase from 2023.
The energy drink market in the UK is experiencing notable changes. Prime Hydration, LLC, has seen a substantial decrease in profits and turnover, while Red Bull has reported growth. The potential ban on Amazon Prime energy drink sales to under 16s may further reshape the market, with Red Bull currently leading the UK market share.
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