Industry Issues
US liquid refreshment market retail volume growth resumed in 2024
Newly released preliminary data from research firm Beverage Marketing Corporation (BMC) shows that U.S. liquid refreshment beverage volume grew in 2024 after dipping the previous year. Although inflation remained a factor, retail sales increased more slowly in 2024 as they had in the preceding three years.
BMC reports that, after surpassing 36.4 billion gallons in 2022, total liquid refreshment beverage volume slipped to 36 billion gallons in 2023 before climbing to almost 36.4 billion gallons in 2024. While volume did not quite reach where it had been before 2023’s decrease, it came close, BMC notes.
“Once again, the beverage industry has proven its resilience,” Michael C. Bellas, chairman and CEO of BMC, said in a statement. “Refreshment beverage volume returned to its historical tendency to grow and performance could improve in the future.”
Meanwhile, retail sales moved from $247.3 billion in 2023 to $255.3 billion, a 3.3% jump. BMC notes that this was notably less forceful than the 7.8% increase in retail sales in 2023 or the double-digit growth rates measured in 2021 and 2022. Only three liquid refreshment beverage segments experienced volume enlargement in 2024, and all but one of them registered sales increases, the report adds.
After a string of annual volume reductions, BMC’s report shows that carbonated soft drinks (CSDs) saw a couple episodes of growth in 2021 and 2022, only to have volume decrease again in 2023. However, CSDs notched a small uptick in 2024. Volume in 2024 was almost 11.9 billion gallons, BMC notes, up from 11.8 billion gallons in 2023, but below the 12.1 billion gallons measured in 2022.
BMC shares that bottled water, the largest U.S. beverage category by volume, grew even bigger in 2024. Bottled water’s core qualities continue to attract consumers, including convenience, healthfulness, all-naturalness and lack of calories. Volume grew by 2.9%, which was faster than last year and much stronger than total liquid refreshment beverage by volume, which increased by 1%.
In contrast, BMC notes that bottled water’s retail sales advanced at a rate only slightly quicker than the refreshment beverage market as a whole, with 3.7% for water versus 3.3% for the overall market. Bottled water had four entries among the leading trademarks in 2024, BMC adds, but only two of them grew.
The new data also found that energy drink volume increased by 1.6%, with retail sales growing at the same rate as bottled water. Sports drinks’ retail sales were “essentially flat” and the segment’s volume declined.
Similarly, fruit beverages, ready-to-drink (RTD) coffee, RTD tea and value-added water experienced declines in volume in 2024. Unlike sports drinks, RTD tea and value-added water both experienced increases in retail sales, but lagged the overall market’s rate of growth.
RTD coffee was the sole one to see sales declines, while fruit beverage sales were flat as well, BMC notes.
The Beverage Forum highlights emerging trends, insights
The Beverage Forum welcomed top-tier industry leaders, innovative suppliers, financial analysts and influential press members for its 2025 spring edition. The two-day event took place April 29-30, featuring an action-packed agenda, including six keynote addresses, five panel discussions, and two workshops.
The event kicked off with Danny Stepper, co-founder and CEO of L.A. Libations, welcoming attendees to the event and highlighting what they will enjoy over the next two days. His opening was followed by State of the Industry insights presented by SPINS. To begin the sessions, Stepper moderated a conversation with Shawn Darmody, vice president of merchandising, snack, beverages, candy and impulse at Target.
Stepper then welcomed to the stage John Herman, co-founder and CEO of BERO, for the emerging company spotlight. BERO is a premium non-alcohol beer co-created by Herman and Tom Holland. Inspired by Holland’s UK roots, BERO's expert team of American brewers developed the line with a deep commitment to craftsmanship.
The initial panel at the Forum, Racing Past the Buzz: The Rise of Adult Non-Alc, saw Stepper welcome to the stage Lewis Hamilton, co-founder and partner with Almave; Moises Guindi, co-founder and CEO with Almave; Joe Escobar, national category director of beverages at Albertsons; and David Spohr, senior director of liquid merchandising at Albertsons. Almave is a non-alcohol spirit distilled from blue agave, which the company describes as perfect for sipping or mixing. A Formula One driver and entrepreneur, Hamilton noted that tequila has been his drink of choice, but wanted an alternative that allowed him to live a busy life without restraint. Realizing the gap in the market, Hamilton joined forces with Mexican spirits innovator Casa Lumbre to create an authentic product that follows and respects the traditional process and craftsmanship of tequila in a non-alcohol form.
In the What’s Going On panel, moderated by Brandy Rand, founder and CEO at Thirstwell, welcomed Rohan Oza, co-founder and managing partner at CAVU; Ken Sadowsky, senior beverage adviser at Verlinvest; and Will McDonald, vice president of DMM Beverage at Walmart.
Before the luncheon was the Creating Cooperation to Drive Innovation panel, complete with Mark French, CEO at Don’t Quit!; Chris Wagner, CEO at MacroCap Labs; Jeff Reynolds, founder at Sensapure Flavors; Kathleen Pitre, president of beverage packaging for North and Central America at Ball Corp.; John McDowell, president of McDowell Label, a company within Resource Label Group; and Ricardo Ochoa, brand innovation partner at CTI.
After lunch was The Deal Makers panel, moderated by Wayne Wu, general partner at VMG. The panel consisted of Nikki Boyers, vice president of private brands and 7-Ventures; Ryan Lewendon, partner at Giannuzzi Lewendon; and Tom Allison, head of new ventures at Live Nation.
Next was the Startup CPG Lightning Round Pitches, moderated by Daniel Scharff, founder of Startup CPG. With Scharff on the stage were Erin Haug, senior category manager at Gopuff; Brodu Burk, senior category manager at Sprouts Farmers Market; Kristin Alas, category manager at Gelson’s; Darren Viscount, senior category manager at Bristol Farms; Jess Rodlin, director of sales for SIP; and Taylor Cathala, adult beverage category merchandising for spirits at Whole Foods Market.
The afternoon continued with The Shifting Grounds of Beverage Distribution panel, moderated by Dino Sarti, co-founder and chief operating officer at L.A. Libations. The panel was comprised of Deb Conklin, president and CEO at KeHE; Dave Peakcock, CEO at Advantage Solutions; and Buster Houston, vice president of national merchandising at Albertsons.
Following a networking break, Stepper welcomed to the stage Jack Sinclair, CEO at Sprouts Farmers Market, and Kim Coffin, chief foraging officer at Sprouts Farmers Market, for the keynote Foraging at Retail.
Next Stepper invited to the stage Bob Gamgort, executive chairman of the Board of Directors, for the Industry Vanguard presentation.
After the presentation, Eric Blumenthal, senior vice president of foodservice commercial and growth at The Coca-Cola Co., moderated the Restaurants & Food Service Innovators panel. Joining Blumenthal were Jason Strauss, co-CEO at TAO Group Hospitality, and Ryan Dickerson, chief marketing officer at Inspire.
Stepper then took to the stage to moderate the Large Company Spotlight of Liquid Death with its founder and CEO Mike Cessario to close out Day 1.
To kickoff Day 2, Pete Marino, president of Lofted Spirits, moderated The 4th Category of Beverage panel. Joining Marino were Merrilee Kick, CEO and founder at BuzzBallz; Clement Pappas, CEO and co-founder at Stateside Vodka and Surfside; Brad Schultz, co-founder and chief marketing officer at BeatBox; and Chris Stewart, vice president of merchandising at Casey’s.
Next up, Christine Phan moderated the Brand On Fire Check In with Gregory Lavecchia, co-founder and CEO at Bloom Nutrition.
Following the check in, Lisa Baird, president and CEO at Nextup, took to the stage to moderate the Pivotal Moments for the Transformational Leaders: How Did I End Up Here? Panel. Joining the panel were Melody Richard, senior vice president of pantry at Walmart; Pam Stewart, chief customer officer at The Coca-Cola Co.; and Kat Cole, CEO at AG1.
After a networking break, Stepper took to the stage to moderate the How to Win at Kroger panel. Joining Stepper were Jim Whicker, grocery category manager of water at Kroger; Kevin J. Kelly, category manager at Kroger; and Lance Collins, founder and entrepreneur for brands such as Recover 180 and BodyArmor.
Following the panel, Pat Boldin, president at L.A. Libations, moderated the keynote Build Your Brand at Retail with Jay Shetty, co-founder of Juni; and Kim Perell, co-founder at Juni.
After lunch, Kevin Nitz, vice president of non-alcoholic beverages at Molson Coors, moderated the Blurring Lines of Adult Beverages panel. Joining Nitz were Troy Rich, CEO at Total Wine & More; Jake Bullock, co-founder and CEO at CANN; and David Andrew, founder and managing director at Naked Life Non-Alcoholic Cocktail.
Later, Caroline Levy, Board Director with companies including Celsius Holdings, Athletic Brewing Co. and Health-Ade, moderated The (Beat) On Wall Street panel. Joining Levy were Bonnie Herzog, managing director at Goldman Sachs; Robert Ottenstein, senior managing director and partner at Evercore; and Carlos Laboy, managing director at HSBC.
Following a networking break, Bonnie Shah, chief marketing officer at L.A. Libations, moderated the Star Power panel. Joining Shah were Naseeb Gill, talent agent at CAA; Justin Nabozna, CEO at SipMargs; and Randy Ornstein, senior director of beverage at Gopuff.
For the last panel at the Forum, Josh Wand, founder of Force Brands, moderated the Founder Journey panel. The was comprised of Clayton Christopher, co-founder and operating partner at Asto Consumer Partners; Christopher Hunter, co-founder and CEO at Koia; and Doss Cunningham, chairman and CEO at Nutrabolt.
Stepper then took the stage to share his closing remarks as well as share that The Beverage Forum London will take place Oct. 7-8 at Indigo at the O2.
Beverage alcohol distributor Southern Glazer’s Wine & Spirits announced a distribution agreement for the Canadian market with Campari Canada. The agreement went into effect April 1 and marks a strategic expansion to bring the supplier’s iconic brands, such as Aperol, Campari and Forty Creek, into Southern Glazer’s best-in-class distribution network across Canada, the company says. This builds on the companies’ successful relationship in the United States. “This agreement represents an exciting milestone for both of our organizations,” said Wayne E. Chaplin, president and CEO of Southern Glazer’s, in a statement. “Campari’s premium brands, combined with Southern Glazer’s world-class sales expertise, create a powerful synergy that will elevate the beverage alcohol landscape in Canada.”
Napa Valley-based Trinchero Family Wine & Spirits recently announced Corey Beck as chief operating officer. Beck joined the family-owned company May 1, reporting directly to President and CEO Bob Torkelson. Beck has three decades of leadership in the wine industry, with a depth of expertise in the alcohol industry to complement that Trinchero portfolio that spans across more than 50 brands. “We are excited to welcome Corey to Trinchero,” said Mario Trinchero, third-generation family member, vice chairman and senior vice president, in a statement. “We know his perspective will be valuable to our organization, and his demonstrated success in winemaking and operating family businesses will help us as we continue to grow and position our company for ongoing success and innovation.”
Electrolyte drink tablet company Plink! is to be distributed nationwide in CVS. Plink! helps people drink more water by making hydration “fun, flavorful and feel-good, without sugar, guilt or plastic,” the company says. Plink! is formulated for everyday hydration, not just athletes or high-intensity workouts. “Plink! has found the sweet spot in hydration,” said Luke Montgomery-Smith, co-founder of Plink!, in a statement. “We are jazzed to see that a major retailer like CVS is noticing that hydration doesn’t have to be reactive in only high-stress or hardcore situations like a marathon or a hangover, but can be an enjoyable and easy solution to everyone’s daily lives.” CVS will carry two of Plink!’s flavors: Pomegranate Berry and Watermelon.
Elmhurst 1925, a plant-based dairy products brand, unveiled that three of its most popular products — Pistachio Barista Edition, Unsweetened Coconut Cashew Milk and Maple Walnut Barista Edition — will be sold across select Whole Foods Market locations nationwide. “We’ve long enjoyed a successful collaboration with Whole Foods Market, and we’re excited to continue to grow together following overwhelmingly positive customer feedback,” said Heba Mahmoud, senior director of brand innovation at Elmhurst, in a statement. “The Whole Foods Market shopper is looking for the tastiest, high-quality, and most wholesome plant-based products available — that’s exactly what Elmhurst delivers. As we continue to set the standard for what plant-based alternatives should be, we look forward to customers nationwide discovering an even greater variety of Elmhurst 1925 offerings.”
Just Ice Tea, an organic, Fair Trade-certified tea brand from the makers of Honest Tea, announced that its bottled and canned teas can be found nationwide at several retailers, including Target, CVS, Wegmans, Harris Teeter, online at Thrive and regionally at 7-Eleven and Walmart. The expansion doubles Just Ice Tea’s retail footprint to more than 12,000 stores across the country, as well as Amazon. “At a time when there are lots of beverages with gimmicky ingredients and alternative sweeteners, we are proud to offer our simple, flavorful takes on the world’s second-most popular beverage (after water, of course),” said Seth Goldman, CEO and co-founder, in a statement. “It’s gratifying to see millions of people embrace the simple ingredients and pure flavors of Just Ice Tea. We can’t wait to introduce Just Ice Tea to millions more this spring as we launch in thousands of more outlets. This tea party is just getting started.”