In 2023, Celsius doubled its business in North America, which now stands at billions of dollars. As a result, it expects to grow in these five international markets in 2024 and beyond.

If you invested five years agoCelsius Holdings （Nasdaq Resonancestock (market)(Code: CELH)If you're reading this, you're probably not, you're probably sitting on a beach somewhere, sipping a cold Celsius Sparkling Orange or Fantasy Vibe and enjoying your investment luck. After all, a $10,000 investment five years ago is now worth more than $560,000.

Celsius stock is going up for the right reason: business is definitely booming. Just take a look at the graph of the annual revenue growth of the noodles below.

Data from Celsius Annual Papers. Graphs and tables drawn by the authors.

This extraordinary compound annual growth rate takes Celsius from $75 million in revenue in 2019 to $1.3 billion in 2023. But here's the catch: most of the revenue comes from the U.S. market. According to company filings, about 96% of revenue in 2023 will come from North America. While the company doesn't list revenue from Canada, distribution is limited to just north of the border, which means the majority of revenue comes from the U.S.

To be clear, Celsius still has room to grow in the U.S. and is pursuing certain opportunities. It is in line withPepsiCo) The distribution agreement was particularly helpful in getting the new brand into catering companies, university campuses, hotels, spas and more.

That said, Celsius' distribution network is now much more saturated than it was five years ago, and it will eventually reach its saturation point. That's why this top growth stock is poised for international expansion in 2024 and beyond.

International Opportunities in Sergis

So far this year, Celsius has announced expansion plans in five international markets: Canada, the United Kingdom, Ireland, Australia and New Zealand.

As mentioned earlier, Celsius previously had very limited distribution in Canada. However, its distribution partner, PepsiCo, will help the brand go national, and sales have already begun. In four other markets, Celsius will partner with Japanese beverage giant Suntory. Sales in Europe will begin soon and sales in Oceania are expected to begin in the fourth quarter of 2024.

PepsiCo has shown that the international market is a huge opportunity for Celsius, with about half of PepsiCo's $91 billion in revenue in 2023 coming from international markets. Granted, PepsiCo sells beverages, food and snacks, while Celsius only sells beverages. But the comparison still presents a strong growth opportunity for Celsius.

For those who want to make a closer comparison with Celsius, there are alsoMonster BeMonster's net sales outside of the U.S. were $2.7 billion, while total net sales were $7.1 billion.

In addition, Monster's international net sales in 2023 increased by $350 million. As a result, Monster's internationalGrowthSix times the size of Celsius' entire international business.

In my opinion, this at least provides Celsius with an opportunity to grow. And it already has two huge name partners in PepsiCo and Suntory to help it achieve this goal.

What it means for investors

Investors can have a separate discussion about the valuation of Celsius stock and whether or not it's time to buy, given that it's up 55% year-to-date. But I'm just pointing out here that investors haven't missed the boat on Celsius stock.

Celsius' compound annual growth rate in carpet names is one of the most incredible growth rates I have ever seen. However, the company still has room to grow and has the right carry partners to achieve this goal. This is very important and bodes well for strong long-term growth for this thriving beverage company.

Should you invest $1,000 in Celsius now?

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Jon Quast does not own any of the stocks listed above. the Motley Fool holds recommendations for Celsius and Monster Beverage. the Motley Fool has a disclosure policy.

By 2023, Celsius has doubled its business in North America and is now a billion-dollar enterprise. That's why it wants to grow in these five international markets in 2024 and beyond.