The energy drinks business has been in a tailspin for years.
And the latest round of energy drinks wars is sure to prove costly for the sector, with rival companies vying for the market, according to a report by The Globe and Mail.
“It’s a real crisis in the industry, and it will only get worse,” says Robyn Smith, co-founder of the energy products company Devon Energy.
“The price is going up, the product isn’t delivering, the brand is not delivering.
And they’re not doing it in the best interests of consumers.”
Smith is one of a handful of former energy drinks executives who have made a name for themselves in the energy industry.
She left the company in 2012 to start a start-up that has been gaining momentum since then.
In 2015, Devon Energy launched its first energy drink, a sparkling, sugar-free version of the popular Nu Skin energy drink.
The company is currently offering a more expensive version of that drink called NuEnergy, which it has said is a more refined product.
“We don’t want to compete with the Nu Skin product,” says Smith.
“But we’re doing what we can to make a product that is a little bit more refined.”
The company’s chief executive, Mike Taylor, says he wants to be the first to market with a product more refined than NuSkin, so he has been developing a new drink called the Devon Energy Ultra Slim.
He also has launched a new line of energy drink called The Energy Elixir, which is billed as a more affordable version of NuEnergy.
“What we’re trying to do is get people excited about energy drinks,” says Taylor.
“And we’re going to try to create a little more excitement for people who are going to buy these.”
Taylor says the new energy drinks are priced around $10 a bottle, but they have a lot of appeal among the younger demographic.
“I think people are excited about the fact that there’s a little energy in a lot less liquid,” he says.
The Energy Drink wars are a big problem for the industry.
The average Canadian drinks about 30 energy drinks a year, compared to a typical 15 per person, according a 2015 report by the British Columbia Liquor and Lotteries Association.
The industry is also struggling with an aging population.
According to a survey by the University of British Columbia, one in five Canadians ages 65 to 74 have taken the first step in their life towards drinking a beer, wine or spirits, while one in three seniors say they have tried a single energy drink in the past year.
The energy drink industry is still reeling from the energy wars of 2015 and 2016.
Taylor says his company will keep trying to keep its product at the top of the list, but that his company is focusing more on marketing and branding than production.
“My message to the industry is, ‘Don’t forget that we’re a new company.
Don’t forget about us.
We’re still a small company,'” he says, adding that he wants people to realize that energy drinks have always been around, that people have been drinking them for generations.
“That’s not to say that we’ve never done a good job of trying to market ourselves.
But our strategy is to get people to try the products, not to get them to buy them.”
Taylor adds that the company’s focus will be on marketing the products to younger consumers.
“Our goal is to keep the product that’s coming out of the factory and the brand that’s been built on that product, and the people who actually drink it.”
Taylor’s new energy drink is called the Energy Elixir.
He says it’s more refined, and has a higher alcohol content than the NuSkin energy drink he launched in 2015.
But while he says he believes energy drinks provide a “health benefit,” he admits that they can have a detrimental effect on the body.
“If you drink a lot, you’re going in to a lot,” he explains.
“You’re going into your body and you’re adding a lot more carbon dioxide to your body.
And so it’s going to increase your risk of all sorts of things.”