The energy drink business has exploded over the past decade and Monster Beverage (NASDAQ:MNST) has been one of the biggest beneficiaries. The good news today is that according to analysts at Wells Fargo there's still room for growth. A research report released today was optimistic about energy drinks driving beverage growth and that's good news for Monster.  

Holding off the big dogs
What's different about the energy drink business from other drink markets is that Coca-Cola (NYSE:KO) and Pepsi (NYSE:PEP) have had very little success getting into it. They're usually able to muscle in and fight off smaller rivals -- in this case, Monster, 5-Hour Energy, and Red Bull -- but the energy business is playing out differently. These companies have been able to hold off the big dogs and grow into an expanding market and building strong brands along the way.

MNST Revenue Quarterly YoY Growth Chart

Source: MNST Revenue Quarterly YoY Growth data by YCharts.

The growth has been amazing, but for investors looking to buy the stock the good news is that Monster is trading at a much more reasonable price than it has in the past. If Wells Fargo is right and the energy drinks business continues to grow, this price could be a steal, especially if the company can expand into new markets. Monster is trying to be more than just a giant can of energy, adding new flavors and even a line of "Rehab" drinks. That has broadened appeal and kept growth at a high level. 

First-quarter earnings will be out in May and that's when we'll find out just how much fuel is left in this growth engine. 

More on Monster

Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool recommends Coca-Cola. It also recommends and owns shares of Monster Beverage and PepsiCo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.