Category experiences increased competition from hybrid beverages
Market analysts remain mixed about the performance beverage category's ability to regain positioning as more factions have emerged within the beverage market.
This was driven by a business model change in China to a royalty license which mitigates risk and reduces marketing investment, but correspondingly decreases revenue by $1.3 million, the company says.
WTRMLN WTR, a brand of Denver-based World Waters LLC, announced the global launch of WTRMLN SportWTR, an electrolyte-filled, healthy-hydrating and performance-enhancing beverage, the company says.
In its first foray into the beverage market, ALOHA Inc. launched its self-titled line of plant-based protein drinks in three varieties: Vanilla, Chocolate Sea Salt and Coconut.
While reported net revenues declined because of refranchising and currency headwinds, the company delivered organic revenue (non-GAAP) growth within its long-term target for the sixth consecutive quarter, while also gaining value share globally, it said.