All channel non-alcoholic beverage sales remained “broadly strong” across categories during the period ending November 20, according to an analysis of NielsenIQ data by Goldman Sachs Equity Research. Beverage retail dollar sales rose 11.4% in the two-week period and 11.1% in the four-week period. On a two-year stack basis, total dollar sales were up 27.4%.
How did the top companies do?
PepsiCo reported a 9.1% increase in total company dollar sales in the two-weeks ending November 20, versus 9% growth in the four-weeks and a 9.4% bump in the 12-weeks. Salty snack sales were up 12% for the two-weeks. The performance is marked by a 1.9% drop in total volume in the period, while average pricing jumped 11%. On a two-year stack basis, dollar sales were up 21% in the two-week period.
The Coca-Cola Company saw sales accelerate, up 10.1% in the two-weeks (+9.3% in the four-weeks and +10.4% for 12-weeks). Total volume dropped 3%, while pricing jumped up by 13.1% in the period. On a two-year stack basis, dollar sales rose 23.2% for the two-weeks.
Keurig Dr Pepper (KDP) reported a deceleration in total company dollar sales, at just 6.8% growth in the two-week period (+7.5% for four-weeks and +7.2% for 12-weeks). Total volume fell 3.7% in the period, contrasted with a 10.4% increase in average pricing. On a two-year stack basis, total company dollar sales in the two-weeks rose 25.5%.
What about energy drinks?
Energy drink dollar sales accelerated, up 14.6% in the two-weeks, compared with 13.8% in the four-weeks and 12.8% in the 12-weeks. Total volume was up 9.6% while average pricing grew by 4.5% in the two-weeks. On a two-year stack basis, energy drink dollar sales climbed 29.3% in the two-week period. In terms of market share, Monster fell to 38% in the two-weeks and Red Bull increased its share to 37.2%. Bang’s share fell slightly to 7.4% while PepsiCo declined to 5.9%.
Monster reported accelerated growth, up 9.7% in the two-week period (+8.2% for four-weeks and +7.6% for 12-weeks), with volumes up 5.7% and average pricing rising 3.8%. Dollar sales of core green Monster were up 12.2% in the two-weeks, while Monster Zero Ultra jumped up 25.7%, Java Monster increased 17.1% and Monster Rehab improved by 22.3%. Meanwhile, sales of REIGN Total Body Fuel fell 3.1% in the two-weeks (an improvement from a 4.6% slide in the four-week period). On a two-year stack basis, Monster dollar sales were up 21.8% in the two-weeks.
Red Bull dollar sales were relatively stable, up 16.8% in the two weeks (+16.5% for four-weeks and +16.4% for 12-weeks). Volume rose 16.4% in the period and average pricing crept up just 0.3%. Core Red Bull dollar sales grew 18.8% in the two-weeks while Summer Editions were up only 1%. On a two-year stack basis, Red Bull dollar sales grew 39.3% in the two-week period.
Bang reported dollar sales growth of 2.5% in the two-weeks (+2.3% for four-weeks and +2.6% for 12-weeks). Total volume sales were up slightly by 0.7% and average pricing rose by 1.8% in the period. On a two-year stack basis, Bang dollar sales were up 8.2% in the two-week period.
PepsiCo, which distributes Bang in the U.S., saw a significant turnaround for its energy portfolio (Rockstar and MTN Dew), ending a long run of declines by growing 4.1% in the two-week period (versus +1.8% in the four-weeks and -1.2% for 12-weeks). Total volume fell 0.5% in the period and average pricing increased 4.6%. On a two-year stack basis, PepsiCo dollar sales remain down by 10% in the two-week period. It is also unclear what the impact of a preliminary injunction barring PepsiCo from selling its MTN Dew Rise Energy line, which was issued by a New York court this month, has had on the company’s energy sales. The product is in the process of rebranding as MTN Dew Energy.
Finally, CELSIUS sales remained strong, up 199.5% for the two-weeks (+215.1% for four-weeks and +221.9% for 12-weeks) with a 2.2% market share for the four-weeks. Volume sales were up 158.1% in the two-weeks (decelerating from 190.1% growth in the four-weeks) while average pricing increased 16.1%. On a two-year stack basis, CELSIUS sales are up 271.7% in the two-weeks.
How did other categories do?
Carbonated Soft Drinks (CSDs): Soda sales rose 10.3% in the two-week period ending November 20, accelerating from 9.6% growth in the four-weeks. Coke’s CSD sales were up 12.1% for the two-weeks, compared to PepsiCo which reported 8% growth and KDP which increased 11.2%.
Bottled Water: Bottled water increased 10.2% in the two-weeks (+10.9% for four-weeks). Private label sales, the largest share of the category, were up 9.7% in the period. Blue Triton Brands, the largest branded water company which now owns the Nestle Waters North America portfolio, reported 3.9% dollar sales growth in the two-weeks, decelerating from a 6.4% improvement in the four-weeks. Other top water manufacturers saw sales improve, including Coke (+9.8%), PepsiCo (+10.2%), KDP (+10.4%), Danone North America (+0.9%) and The Kraft Heinz Company (+50.2%). However, Niagara Bottling sales fell 5.5% in the two-weeks.
Sports Drinks: Category dollar sales increased 19% in the two-week period, consistent with 18.9% growth in the four-weeks. BodyArmor, recently acquired by Coke, reported 47.1% growth in the two-week period, compared to 13% growth for PepsiCo. Coke’s other sports drinks (Powerade) were up 3.5%.
RTD Tea: Ready-to-drink tea was up 4% in the two-weeks, led by 51.5% growth for Milo’s Tea Company. Pepsi/Lipton was up 3.1% and AriZona rose 4%. Coke, however, dropped 9.5% in the period.
Sparkling Flavored Water: Sparkling water sales were up 4.5% for the two-weeks, slightly decelerating from 5.4% growth in the four-week period. Spindrift led growth with a 40.4% spike in dollar sales and Coke (AHA) was up 26.1%. Market share leader Talking Rain increased 8.3% in the period, Polar rose 8.8% and PepsiCo (Bubly) was up 2.1%. LaCroix manufacturer National Beverage Corp. reported a sales decline of 7.7%.
RTD Coffee: The category rose 13.6% in the two-week period. PepsiCo/Starbucks dollar sales decelerated, up 0.8% in the two-weeks compared to 1.4% growth in the four-weeks. However, smaller coffee brands saw sales accelerate, including Danone North America (+39.3%), Coke (+67.6%) and Califia Farms (+31.6%).
Still Flavored Water: Flavored water sales were up 16.1% for the two-weeks. Growth was led by In Zone Brands (good2grow), up 118.8% in the period, while The Kraft Heinz Company was up 50.2%. Hint, which saw a turnover in leadership towards the end of the period, grew 19.7%. Meanwhile, Coke and PepsiCo each reported 12.9% dollar sales growth.