GLP-1 Drinks Over Snacks
Neil Parikh@neilparikh
+7.9%
since Oct 1
The idea
I believe GLP-1 drugs will crush snack purchases but simply redirect drink habits rather than kill them, since users still drink even as they eat less. So this owns zero-sugar soda leaders as the core, growth slices in protein shakes, sugar-free energy, and hydration, plus a small layer of the ingredient makers enabling reformulation, while skipping snack-heavy food names entirely. It holds some cash and stays diversified across the category rather than betting on one name, meant to play out over years as adoption spreads.
What it owns
- Large soda makers retain customers by shifting them to zero-sugar versions as appetites shrink, keeping the sale rather than losing it entirely. · Coca-Cola CompanyIt keeps soda drinkers as customers by moving them to zero-sugar versions instead of losing the sale as appetites shrink., Keurig Dr PepperIt owns a deep diet soda lineup and coffee brands that appetite-suppressed consumers keep drinking, reducing drag from smaller overall appetites., Coca-Cola Europacific PartnersIt bottles and distributes Coca-Cola's zero-sugar range across Europe and Asia Pacific, winning the same customer switch through volume growth., Coca-Cola ConsolidatedIt is the largest US Coca-Cola bottler, so every consumer who shifts to zero-calorie drinks still runs through its distribution network., National BeverageIts LaCroix brand is already zero-calorie and zero-sugar, making it a natural landing spot for drinkers whose appetite-suppressing drugs killed their taste for sweet soda., Zevia PBCIt sells nothing but zero-sugar soda, making it the purest version of the consumer shift bet with no legacy sugary business to drag it down.35%
- Doctors recommend protein shakes to patients on these drugs to preserve muscle while eating less, making protein a growing category tied directly to adoption. · BellRing BrandsIts Premier Protein shakes are what doctors recommend to patients on these drugs to prevent muscle loss while eating less., Abbott LaboratoriesIt built Protality specifically for patients on these drugs and already owns Ensure, making it the large-company version of the protein companion bet., Simply Good FoodsIt owns Quest and Atkins, protein-forward brands built for the smaller, higher-protein eating pattern that matches appetite-suppressed consumers.20%
- Energy drinks are already mostly zero-sugar and appeal to the exact consumers adopting appetite-suppressing medications. · Monster BeverageIts Zero Ultra line leads the sugar-free energy category that users on these drugs actively add rather than cut from their diets., Celsius HoldingsIt is sugar-free by design and marketed at people managing their weight, which is exactly the consumer base these drugs create.15%
- Water and electrolyte drinks are what appetite-suppressed consumers continue buying without guilt, often at higher volumes. · Primo BrandsIt is the largest US bottled water company, and water is the drink users on these drugs are told to drink more of, not less., Vita Coco CompanyIts coconut water is the premium hydration option with electrolytes and minimal sugar, fitting the functional drink category users on these drugs add.12%
- Companies selling sweeteners and flavor systems benefit across the industry as beverage makers reformulate to zero-sugar, regardless of which brands gain share. · IngredionIt sells the sugar-reduction ingredients that every beverage company needs to build zero-sugar lineups as the industry reformulates., International Flavors & FragrancesIt makes the flavor systems that let zero-sugar drinks taste authentic, making the switch stick for consumers on these drugs.10%
- Cash8%