It built a cult following with canned water. Now it's targeting the $23 billion energy drink market with a surprising new strategy.

“Celsius is a functional energy drink created for active lifestyles -- providing energy to support active individuals in their daily routines,” Celsius CMO Kyle Watson said in a statement.

Celsius CEO John Fieldly told CNBC's Jim Cramer on Monday that the sugar-free category is a dominant force on the energy drink market and detailed his company's growth trajectory after a recent ...