Non-alcoholic beverage sales saw modest acceleration over the two-week period ending February 26, according to an analysis of NielsenIQ data by Goldman Sachs Equity Research. Dollar sales were up 14.8% in the two weeks and grew 11.5% for the 52-weeks, however Goldman noted that the period included Super Bowl Sunday, which occurred prior to the period the year before.
On a two-year stack basis, dollar sales decelerated slightly, up 25% for the two-week period compared to +25.9% in the four-week period. According to the report, dollar sales growth has continued to be driven by price increases as volume sales are challenged amid inflation and supply chain pressures.
Carbonated soft drink dollar sales were up 15.1% in the two-week period, compared to +7.6% for 52-weeks. Volume sales for the category accelerated, up 3.4% in the two-weeks, but remained down -2.3% for 52-weeks. Average price in the two-weeks was up 11.3%, compared to 9.9% for 52-weeks.
Category leader The Coca-Cola Company reported strong +18.2% dollar sales growth in the two-weeks (+7.6% for 52-weeks) with volume +6% and pricing slightly outpacing the category +11.5%. Keurig Dr Pepper (KDP) followed in growth, +16.2% for the two-weeks (versus +9.2% for 52-weeks) with +5.7% volume and +10% pricing. Meanwhile, PepsiCo’s CSD dollar sales rose +11% (+7.5% for 52-weeks), with volume up just +0.4% and pricing increasing +10.5%.
Energy drinks continued to perform well, with the category’s dollar sales up +17.9% in the two-week period (+15.4% for 52-weeks), volume up +12.3% and pricing up 5%. Monster Energy Co. reported dollar sales up +13.2% while Red Bull increased +16.3% in the two-weeks. However, Bang reported a -1.6% dive in dollar sales (compared to +10.9% growth in the 52-weeks) with volume down -3% and pricing up just +1.4%. PepsiCo (Rockstar and MTN Dew) grew its sales by +5.9% in the two-weeks and CELSIUS continued its triple-digit growth run up +235%.
In bottled water, the category increased dollar sales +12.7% in the two-week period, decelerating slightly from +13.8% growth for the 52-weeks. Volume increased just +1.8% while pricing jumped up +10.7%. PepsiCo’s dollar sales rose 15.1% in the two-weeks and Coke was up +8.6%. After being excluded from previous reports, Blue Triton Brands, which owns the former Nestle Waters North America regional brands portfolio, reported +10.2% dollar sales growth in the period to $3.6 billion.
Sports drinks dollar sales increased +22.2% for the two-weeks, compared to +18.7% in the 52-weeks. Volume sales rose +5.2% and pricing grew +16.2%. PepsiCo (Gatorade) grew dollar sales +18.4% in the two-weeks (versus +13.2% for 52-weeks) while Coke (BodyArmor and Powerade) outpaced its chief competitor, up +22.3% in the two-week period (+25.7% for 52-weeks).
RTD tea sales were up +7.4% in the two-weeks (+4.9% for 52-weeks) with volume rising +1.5% and pricing up +5.8%. Pepsi/Lipton increased dollar sales +3.9% for the two-weeks and AriZona was up 4.3%. Meanwhile, Coke (-3.4%) and KDP (-0.2%) posted sales declines in the two-weeks. Milo’s Tea Company was up 58.8% to $328.6 million in the two-weeks.
Sparkling flavored water sales rose +5.1% for the two-weeks and +6.3% in the 52-weeks, fueled by a +8.3% average pricing spike as volume sales dropped by -3%. Spindrift again outpaced its larger competitor (+60.6% dollar sales growth and +81.3% volume growth). Talking Rain (+5.7%), National Beverage Corp. (+1.8%), Polar (+2%) and Coke (+4.9%) saw modest sales growth while PepsiCo declined by a steep -11% in the two-weeks.
Ready-to-drink coffee sales were up +10% for the two-week period (+17.5% for 52-weeks) with volume rising +7.6% and pricing up +2.2%. Starbucks and PepsiCo’s North American Coffee Partnership increased sales +3.9% in the two-weeks. Danone (STOK) was up +47.3% and Califia Farms rose +21.5%, but Coke fell by -13.2%.
Still flavored water was up 23.1% in the two-week period (+18.5% for 52-weeks) and volume rose +7.7% and pricing was up +14.3%. Coke (+14.4%), PepsiCo (+44.9%), Hint (+14.3%), and In Zone Brands (+80.4%) all posted double digit sales growth in the two-weeks.