Beverage Industry identifies top performers of last year
As the world entered the second year of the pandemic, the U.S. beverage market rebounded in 2021 following the soft performance of 2020, according to data from New York-based Beverage Marketing Corporation (BMC). The market research firm projects that total U.S. beverage market volume increased 2.1% in 2021 posted a 0.1% volume growth in 2020. However, it notes that revenues outpaced volume growth, mostly due to inflation, with wholesale dollar growth up 6.1%.
BMC found that most large mass market refreshment beverage categories struggled in 2021, with the exception of bottled water, which saw volume up 4.5%. Carbonated soft drinks also reversed a 16-year trend of volume declines, as the category saw volume sales up 2.2% in 2021. Niche categories fared better in 2021 with ready-to-drink coffee volume up 20%, energy drink volume up 14.9%, sport beverage volume increasing 12.2% and value-added waters seeing volumes up 11.3%. In total, volume for liquid refreshment beverages were up 4.2% in 2021, according to BMC data.