All channel sales remained strong and accelerated across most non-alcoholic beverage categories, increasing 14.4% year-over-year during the two-week period ending on September 25, even as volumes continue to migrate back toward on-premise, according to an analysis of Nielsen data by Goldman Sachs Equity Research. On a two-year stacked basis, total dollar sales grew 22.3% during the two-weeks.
How Did The Major Players Perform?
Total company dollar sales accelerated over the two-week period for all three non-energy category leaders — PepsiCo, The Coca-Cola Company and Keurig Dr Pepper (KDP). For PepsiCo, sales went up 9.2% over the two-weeks compared to an 8.3% increase over the four-weeks and 5.9% growth over the 12-week period. Pepsi’s volumes increased 2.2% showing a steady rebound from the 0.2% decline seen over the 12-week period.
Coke saw the highest total dollar sales growth during the two-week period, with sales increasing 12.2% following its 10.4% growth over the four-weeks. On a two year stacked basis, Coke’s sales jumped 19.4% over the two-weeks versus 20.3% over the four-weeks. The company’s volumes accelerated but remained flat over the two-weeks indicating they may be stabilizing compared to the 1.4% drop seen over the four-weeks and 1.9% decrease during the 12-week period.
KDP’s total sales remained strong and were up 6.2% in the two-week period compared to the same rate over the four-weeks and 3.9% over the 12-weeks. On a two-year stacked basis, sales grew 19.9% over the two-weeks. However, KDP saw volumes drop 1.1% over the two-weeks and following a similar trend over the four-week and 12-week periods where it saw a 0.8% and 1.1% decrease, respectively.
How Did Energy Perform?
Sales growth moderately accelerated across the energy drink category, increasing 11.7% over the two-week period and category leaders each saw sales accelerate with the exception of Pepsi’s energy portfolio which experienced a moderate decline in sales. RedBull took the lead with sales accelerating 15.9% over the two weeks compared to the 15.2% increase over the four-weeks and 14.5% over the 12-week period.
Monster saw total company sales grow 7.6% over the two-weeks, a strong increase compared to the 6.6% growth it saw over the four-weeks. On a two-year stacked basis, Monster Energy Drink sales were up 14.6% over the two-week period. Bang Energy saw a slight deceleration in sales growing 2.5% over the two-weeks compared to its 2.7% growth over the four-week period.
PepsiCo’s energy drink portfolio, which includes Rockstar and MTN DEW Rise, continued to experience a decline in total sales, dropping 3.2% over the two-weeks versus its 3.4% decline over the four-weeks and 4.3% drop during the 12-week period. On a two-year stacked basis, the portfolio saw a 12.9% decline in sales over the two-week period.
Growth Across Other Non-Alcoholic Beverage Categories
Carbonated Soft Drink (CSDs): Total category sales were up 10.4% over the two-weeks as each of the category leaders saw accelerated growth over the period. Coke’s CSD sales rose 12.2% over the two-weeks while Pepsi saw 8.3% growth and KDP’s sales went up 11.3% over the same period.
Bottled Water: Sales across the bottled water category were up 20.2% during the two-weeks, showing a moderate acceleration compared to its 18.5% increase during the four-weeks and 12.5% growth over the 12-week period. PepsiCo led the category with 27.2% growth over the two-week period followed by Niagara Bottling’s 21.3% sales increase over the same period.
Sports Drinks: Category sales accelerated across the sports drink space, rising 30.4% over the two weeks versus 25.4% growth over the four-weeks and a 12.6% jump during the 12-week period. Private Label brands narrowly surpassed BODYARMOR’s sales growth seeing a 68.3% increase compared to BODYARMOR’s 66.7% growth over the two-week period.
RTD Tea: Growth in the RTD space remains strong as the category saw a 7.7% increase in the two-weeks versus its 5.2% over the four-week period. On a two-year stacked basis, category sales were up 10.8% over the two-weeks. Milo’s Tea Company continues to lead growth in the category with sales increasing 48.4% over the same period.
Sparkling Flavored Water: Spindrift continues to lead the category after it saw sales grow 64% in the two week period. Total category sales continued to accelerate and were up 12% over the two-weeks compared to the category’s 10.3% increase during the four-weeks. On a two-year stacked basis, category sales jumped 31.4% over the same two-week period.
RTD Coffee: Growth continues to moderately accelerate across the RTD Coffee category with sales increasing 11.7% over the two-weeks compared to 10.9% growth for the four-weeks. Danone and Califia Farms led the category, seeing sales increase 42.5% and 38%, respectively, over the two-week period.
Still Flavored Water: Sales growth moderately accelerated across the still flavored water category as well, increasing 17% over the two-weeks compared to the 15.7% growth the category saw during the four-weeks and 12.4% over the 12-weeks.