The success of Red Bull's F1 team is contributing to increased sales of their energy drinks, according to the team's principal.

• Christian Horner, the principal and CEO of Red Bull Racing, stated that the team's dominance in Formula 1 this year is directly resulting in increased sales of the energy drink, according to CNBC.
• This season, Max Verstappen and Red Bull have dominated the Grand Prix weekends, winning 19 out of 20 races.
• Monster Beverage holds the largest market share among energy drink brands globally, with Red Bull following closely behind at 13%.

Christian Horner, the principal and CEO of Red Bull Racing, stated that the team's dominance in Formula 1 this year is directly resulting in increased sales of the Red Bull energy drink, according to CNBC.

In the documentary "The Inside Track: The Business of Formula 1," Horner stated that the Red Bull brand's advertising of the energy drink globally for 23 race weekends a year has the biggest marketing impact for the beverage company.

The Red Bull team, backed by tech giant as a title sponsor, has dominated the grid this season, winning 19 of the 20 Grand Prix weekends so far. Max Verstappen has taken the checkered flag in 17 of those wins, while Sergio Perez has won in Saudi Arabia and Azerbaijan.

In early October during the 17th Grand Prix weekend of the season, held in Qatar, Max Verstappen clinched the 2023 drivers title, marking his third world championship. Prior to that, in Japan, the Red Bull team secured the constructors championship.

On Sunday in Las Vegas, the drivers will return to the track before the season concludes in Abu Dhabi at the end of this month.

Red Bull did not reveal specific sales figures, but a spokesperson emphasized the increase in F1 sales and stated that it is particularly noticeable in markets where F1 races take place.

Horner stated on CNBC that they can measure the consumption of Red Bull and it's astonishing.

Euromonitor International data shows that Red Bull is the second-most popular energy drink brand worldwide, with a 13% market share, while Coca-Cola's namesake brand holds the top spot with 16.4% of the global market share.

The growing competition in the energy drink market has put pressure on Red Bull, resulting in a decline in its market share from 13.5% in 2021 to 13% this year, with new players like entering the category.

Beverage giants such as Pepsi have targeted the fast-growing energy drink category, with varying levels of success. Despite a decline in soda consumption over the past two decades, sugary energy drinks have seen growth due to their caffeine content and associated effects.

In 2019, Coke introduced an energy drink in the UK, but it failed to gain traction among U.S. consumers. As a result, the company discontinued the drink in North America in 2021, just a year after its launch.

Pepsi has achieved greater success through acquisitions. In 2020, it purchased Rockstar Energy for $3.85 billion, gaining control of both the company's popular energy drink and rapidly expanding Sting Energy.

Pepsi invested $550 million in a company that markets itself as a healthier energy drink, in addition to shifting Mountain Dew into the energy drink category and adding caffeine to Gatorade.

Can you locate the replay times of "The Inside Track: The Business of Formula 1" on CNBC?