Non-alcoholic beverage sales accelerated in the two-week period ending June 15, 2024 as volumes picked up to offset “broadly stable pricing growth,” according to an analysis of NielsenIQ data by Goldman Sachs Equity Research.
- Overall dollar sales grew +4.7% in the two-week period, accelerating from +3.4 in the four-week period and +2.4% in the 12-week period.
- Volume sales grew +3.7% in the two-week period, versus +2.3% in the four-week period and +0.6% in the 12-week period.
- Average pricing growth remained consistent at +1% in the two- and four-week periods, decelerating from +1.7% in the 12-week period.
CSDs
Carbonated soft drink sales grew +5.9% in the two-week period, picking up from +5.2% in the four-week period. Volume growth was muted at +0.5% (0.7% for four-weeks) while average pricing accelerated, up +5.3% (+4.5% for four-weeks).
The Coca-Cola Company grew in-line with the category, up +5.9% (+5.1% for four-weeks) against +1.2% volume growth and +4.6% averager pricing. PepsiCo reported dollar sales growth of +3% (+1.9% for four-weeks) against a -0.9% volume decline and +3.9% average pricing. Keurig Dr Pepper (KDP) was up +5.4% (+5% for four-weeks) against +0.5% volume growth and +4.9% average pricing.
Among better-for-you brands, Poppi grew dollar sales by +166.1% in the two-weeks, with volumes improving +179.4% and average pricing declining -4.8%. Stevia-sweetened brand Zevia grew sales by 4%, as +8.2% pricing offset a -3.9% volume drop.
Energy Drinks
Energy sales have continued to slow, growing by +0.7% in the two-week period (+0.2% for four-weeks) as volume sales fell -0.4% (-0.7%) and average pricing crept up +1.2% (+0.9%).
Category leader Monster Energy reported sales down by -1.7% (-2.5%) with volumes falling -1.8% and pricing up just +0.1%. Meanwhile, number two player Red Bull grew sales +1.8% (+0.9%) as volumes slid -2.9% and average pricing jumped up +4.9%.
Fast-growing third-place player Celsius grew dollar sales +22.1%, showing some deceleration from +27% in the four-week period. Volume sales improved +26.3% and pricing fell -3.3%. Its distribution partner, PepsiCo (Rockstar and MTN Dew), however continued to struggle as dollar sales were down -21.7% (-22.2%) against -22.1% volume and +0.5% average pricing.
Emerging performance energy brands Nutrabolt/C4 (+20.8%), Ghost (+8.3%) and Alani Nu (+58.3%) all continued to grow, while 5-Hour Energy (-8%), PRIME (-65.6%), Starbucks (-82.5%) and A Shoc (-85.4%) all declined.
Bottled Water
Water sales saw strong improvement, up +5.4% in the two-weeks (+3% for four-weeks) as volume sales rose +6% (+3.8% for four-weeks) while average pricing was down -0.5% (-0.8% for four-weeks).
Private label products, which lead the category, grew +8.1% in the two-weeks, with 8.1% volume and +0.1% pricing. The top brand portfolio in the space, BlueTriton Brands, grew dollar sales +7.2% in the period with +10.6% volume and -3.1% to pricing.
Coke (+1.2%), PepsiCo (+2.7%), Nestlé Holdings (+1.9%), CG Roxane (+8.2%), Danone North America (+12.3%) and Niagara Bottling (+6.6%) all saw dollar sales increase in the period. However, Fiji (-6.1%), KDP (-4.4%), Hint (-2%) and Liquid Death (-3%) reported declines.
Sports Drinks
Hydration beverages improved by +6.2% in the two-weeks, accelerating from +2.8% in the four-weeks. Volume sales were up +2.9% (+0.1%) while average pricing grew +3.2% (+2.7%).
Gatorade (PepsiCo) was up +7.5% in the two-week period (+3.3%) as volume grew +1.9% (-1.5%) and average pricing rose +5.5% (+4.9%). Coke’s portfolio of BodyArmor and Powerade increased sales +5.9% (+3.3%) with +6.3% volume (+4%) and average pricing down -0.4% (-0.6%).
PRIME fell -34.5% in the two-weeks as volume dove -32.7% and average pricing fell -2.6%. Electrolit jumped +47.1% with volume up +40.3% and average pricing growing by +4.9%.
Sparkling Water
The summer appears to have benefitted sparkling water as sales of the category were up +9.8% in the two-weeks (+8.3%) as volume improved +5.1% (+3.6%) and pricing increased +4.6% (+4.5%).
Category leader Talking Rain was up +8.1% (+6.5%), as LaCroix-maker National Beverage Corp softened its declines to -0.1% (-3.9%).
Nestlé Holdings (+1.9%), Polar (+6.7%), Coke (+27.4%), PepsiCo (+5.4%), Spindrift (+26.2%), Waterloo (+37.6%) and Liquid Death (+23.1%) all improved in the two-weeks.
RTD Coffee
Although ready-to-drink coffee sales were down -3.7% in the two-week period, it marked an acceleration from -4.9% declines in the four-week period. Volumes fell -2.4% (-2.9%) and average pricing was down -1.3% (-2.1%).
Starbucks sales were down -8.5% in the two-weeks (-9.2%), while volume fell -12.2% (-11.2%) and pricing rose +4.2% (+2.3%).
Danone’s STOK was up double digits in the two-week period at +13.8% and Califia Farms rose +1%. However, Black Rifle Coffee Company (-5.2%), Coke (-8.9%) and Kitu Life’s Super Coffee (-36.1%) faced negative year-over-year sales.
Coconut Water
While it’s the smallest in dollar value, coconut water again was the fastest growing of the tracked categories as dollar sales grew +21% (+19.6%) with volume up +21.7% (+20.2%) and average pricing down -0.5% across both periods.
Category leader Vita Coco grew +17.3% (+17.1%) and Danone-owned Harmless Harvest was up +22.5% (+15.2%).
Goya (+25%), C2O (+26.6%), Sun Hing Foods (+12.9%) and Brooklyn Bottling Group (+41.3%) all grew double-digits in the two-week period.