The overall liquid refreshment beverage sector grew 2.2% in 2014 even as soda sales declined for the tenth straight year. Overall soda volume fell 0.9%, with Coke as the biggest seller and Pepsi overtaking Diet Coke and reaching second place for the first time since 2010, reported Fresno Bee.
Fruit beverages also performed poorly, with sales volume down 2.8% last year, according to the Beverage Marketing Corporation. Last year marked the first time a fruit beverage didn't make the top 10 largest brands list, which consisted of sodas, sports drinks and bottled waters.
Even though it is still the smallest category, ready-to-drink coffee sales experienced the highest sales volume growth at 10.7%. Ready-to-drink tea was less popular but also experienced a sales increase at 3.7% growth. Bottled water, and large and well-established portion of the segment, grew by 7.3%.
Energy drinks also saw solid growth at 6.4%, but were also a relatively small portion of the overall market. That growth may have been responsible for the decline in soda sales.
Four years before COVID, a market analysis report by Grand View Research predicted the global food robotics market would attain a value of approximately $3.4 million, with a CAGR of 13.1% by 2025. COVID has rapidly...read more
With a background in both daily and weekly publications, Bryan has worked as a journalist since freelancing for his hometown paper in high school. He has since written both in print and online for min, The Times of Trenton and North Jersey Media Group, holding positions from stringer to editor. With a background as a news reporter, he has learned to seek out the focus behind the story, digging for the most important information.
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