Can Celsius' Global Strategy Close the International Revenue Gap With Energy Drink Rivals?

The energy drink market is rapidly becoming a global battleground, and Celsius Holdings faces an intriguing challenge: while competitors like Monster Beverage and PepsiCo have already built substantial international franchises, Celsius is in the earlier stages of geographic expansion. The question isn’t whether the company can grow internationally, but whether its current momentum can translate into sustainable market leadership outside North America.

In the third quarter of 2025, Celsius delivered a compelling early signal. The company’s international revenue reached $23.1 million, representing a robust 24% year-over-year increase. On a year-to-date basis through Q3, international sales climbed to $70.6 million, up 30% compared to the same period in 2024. These figures underscore that Celsius’ international push is gaining traction, even if the absolute numbers remain modest relative to the company’s North America footprint.

Australia Leads Growth, While European Markets Show Early Promise for Long-Term Expansion

The geographic breakdown reveals a market in transition. The Nordics—Celsius’ most mature international region—continues to provide steady demand, but newer markets are emerging as growth catalysts. Australia particularly stands out, with performance exceeding internal expectations following expanded retail engagement during the quarter. The company is simultaneously advancing in the United Kingdom, Ireland, France, New Zealand, and the Benelux region, signaling a deliberate multi-market approach rather than concentrated efforts in a single region.

European operations remain in a foundational phase, with success hinging on deeper retailer relationships and refined go-to-market execution. Management emphasized during the earnings call that international markets are still in a “build-out phase,” with priorities centered on establishing distribution channels, amplifying brand awareness, and developing region-specific capabilities. Critically, Celsius is observing that the health, fitness and wellness trends driving North American demand are resonating globally—a favorable tailwind for long-term expansion.

How Celsius Stacks Against Global Beverage Competitors in the International Arena

The competitive landscape puts Celsius’ challenge in sharp relief. Monster Beverage continues to dominate as a globally diversified player, posting double-digit international net sales growth in Q3 2025 across EMEA, Latin America, and Asia Pacific. PepsiCo demonstrated consistency with its 18th consecutive quarter of mid-single-digit or better organic international revenue growth, leveraging unmatched scale and distribution infrastructure. Coca-Cola similarly reported positive unit case volume growth across multiple geographies, underscoring its entrenched global presence.

Celsius remains at a disadvantage in absolute scale but holds a potential strategic advantage: the brand operates in a faster-growing consumer category (premium energy drinks focused on health and performance) compared to legacy beverage competitors. As the company methodically invests in distribution and brand presence across international markets, the $23.1 million quarterly contribution signals that its global footprint is transitioning from concept to tangible revenue driver, positioning international markets as an increasingly material component of future growth.