ON GO Energy, a Birmingham, Mich.-based "better for you" energy shot company, announced it is projecting double-digit growth for 2013 based on 2012 product sales and a continued market rollout of its expanded product line.
"The initial novelty of the energy shot has worn off. Taste has become an increasingly important purchasing factor," said Derrick George, founder and CEO of ON GO Energy, in a prepared statement. "It's not surprising. Consumers just aren't happy with one generic flavor. It has to taste good too."
Research conducted by Chicago-based Mintel International has predicted energy shot sales to increase by 92 percent between 2011-2016 as consumers recover from the recession and become more familiar with the shot category itself, which is still considered a fairly new addition to the energy beverage category.