Non-alcoholic beverage sales “remained healthy” while volume sales worsened during the two-week period ending December 30, 2023, according to the latest analysis of NielsenIQ data by Goldman Sachs Equity Research.
- Dollar sales in the two-week period rose 3.4%, compared to +3.5% in the four-weeks and +8.2% in the 52-week period.
- Volume sales declined -1.8% in the two-weeks, versus -0.8% in the four-week period.
- Average pricing was up by 5.2% in the two-week period, compared to +4.3% in the four-weeks.
Carbonated Soft Drinks
CSDs saw dollar sales increase 3.3% in the two-week period, slightly decelerating from 3.4% growth in the four-weeks and +9.2% in the 52-weeks. Volume sales dropped by -1.7%, slowing the decline slightly from -1.9% in the four-weeks. Average pricing was up 5.1%, versus +5.3% in the four-weeks.
The Coca-Cola Company reported sales grew 3.9% in the two-weeks, alongside +0.4% volume and +3.5% average pricing. PepsiCo dollar sales crept up just 0.1%, as volumes dropped -5.3% and pricing rose 5.7%. Keurig Dr Pepper (KDP) posted +3.7% dollar sales growth, against a -0.1% volume dip and +3.8% average price increase.
Among better-for-you brands, Zevia saw sales drop -9.6% with volumes down -18.3%, while Poppi jumped up 248.1% with volumes climbing 277.8%.
Energy Drinks
The energy category accelerated slightly, growing dollar sales by 8.6% in the two-weeks, versus +8.4% in the four-week period and +11.3% in the 52-weeks. Volume sales were up by 9.2% (+9.1% in the four-weeks) and average pricing declined -0.5% (-0.6% in the four-weeks).
Category leader Monster Energy Company, including Bang, reported sales down -1.7% in the two-weeks (-1.9% in four-weeks) with volumes falling -3% and pricing up 1.3%. Red Bull grew by 4.4% with +5.4% pricing offsetting a -1% volume slide. Celsius continued to grow by triple-digits with +103.2% dollar sales growth against +63.7% volume and +24.1% pricing.
PepsiCo’s portfolio of Rockstar and MTN Dew was down -4.9%, as volume sales dove -10.2% with +6% average price growth. 5-Hour Energy parent company Innovation Ventures also reported a downward trend, with sales falling -4.4% and volume down by -3.9% with a -0.5% average price decline.
Performance energy brands Nutrabolt/C4 (+64.5%), Alani Nu (+50.6%) and Ghost (+59.3%) continued to see dollar sales growth, while A Shoc dropped -43%.
Bottled Water
Water sales were down -1.5% in the two-weeks, decelerating from +0.2% in the four-week period and +5.3% in the 52-weeks. Volume declines hastened to -2.5% (-0.1% in the four-weeks) while average pricing rose just 1% (+0.3% for four-weeks).
Private label sales, which lead the category, were down by -0.8% in the two-week period amidst -1.6% volume and +0.8% average pricing. The largest branded water portfolio, BlueTriton Brands, fell -1.7% (-1% in the four-weeks) with volume sales up by 0.6% and average pricing down -2.3%.
Coke (+0.3%), KDP (+0.8%), Danone North America (+10.3%) and Liquid Death (+10.1%) reported positive dollar sales improvements, while PepsiCo (-5.8%), Fiji (-3.9%), Nestle Holdings (-1.2%), CG Roxane (-3.9%), Niagara Bottling (-7.4%) and flavored water maker Hint (-2.6%) all experienced declines.
Sports Drinks
Sports drinks grew 4.6% in the two-week period, compared to +2.1% in the four-weeks and +7.1% in the 52-weeks. Volume sales were down -5.6%, versus -7.7% in the four-weeks, and average pricing jumped up 10.8%, compared to +10.5% in the four-weeks.
PepsiCo’s Gatorade improved by 2.1% (-0.4% for four-weeks), as +11.4% pricing offset a -8.3% volume drop. Coke’s portfolio of BodyArmor and Powerade slowed its sales declines to -6% (-7.9% in four-weeks) with volumes down by -9.4% and pricing up 3.8%.
Emerging hydration competitor PRIME reported sales growth of 106.8% and Electrolit climbed up 33.9%.
Sparkling Water
Sparkling water sales were up 5.1% in the two-week period (+4.6% in four-weeks and +4.4% in 52-weeks) with volume sales down -0.7% (-1.5% in four-weeks) and average pricing up by 5.9% (+6.2% in four-weeks).
Category leader Talking Rain reported sales down by -0.9% in the two-week period against +0.7% volume and -1.6% average pricing. LaCroix maker National Beverage Corp. grew sales 2.9%, with volume up 7.6% and average pricing decreasing -4.3%. Nestle Holdings (-0.2%) and PepsiCo’s Bubly (-7.1%) both experienced negative dollar sales.
Coke’s AHA (+8.8%), Spindrift (+26%), Waterloo (+39.5%) and Liquid Death (+53.2%) all saw positive sales gains.
RTD Coffee
Liquid coffee drinks were down -4.2% in the two-week period, compared to -4% in the four-week period and +2.2% for the 52-weeks. Volume sales declined by -6.4%, worsening from -6% in the four-week period, and average pricing was up 2.4%, compared to +2.1% in the four-weeks.
Starbucks sales fell -3.3% in the two-weeks, about in line with a -3.2% four-week period decline. Volumes were down -3.5% and average pricing grew just +0.2%. Coke’s portfolio also fell, dropping -24.1% with a steep -40.2% volume drop and +27% average pricing.
Danone, which makes STOK, grew dollar sales by 10.8% with +6.6% volume and +4% average pricing. Black Rifle Coffee Company was up 16.2% with +14.1% volume and +1.8% average pricing. However, Califia Farms (-13.9%) and Kitu Life’s Super Coffee (-33.4%) were down.
Coconut Water
Though smallest by valuation, coconut water saw the largest growth in the two-week period among tracked categories, up 12.9% (+12.5% in the four-weeks and +14.6%). Volumes grew 13.4% (+12.4% for four-weeks) and average pricing fell -0.5% (+0.1% for four-weeks).
Vita Coco sales outpaced the category at +13.3% in the two-weeks (+11.3% for four-weeks) as volume improved 12.5% and average pricing was up +0.8%. Harmless Harvest grew 14.6% with volume sales up 13.6% and pricing up by 0.9%.
Goya (+9.7%), C2O (+20%), Sun Hing Foods (+8.6%) and Brooklyn Bottling Group (+19.7%) all reported positive dollar sales gains.