CHICAGO -- A quick look at the fastest-growing consumer packaged goods (CPG) companies in the United States underscores three trends driving growth in the beverage category: health, authenticity and innovation.
A new report from research firms the Boston Consulting Group and IRI calls out the fastest-growing companies in three groups divided by revenue size.
Here's a look at the beverage brands that earned spots on each list ...
Companies with annual U.S. retail sales of more than $5.5 billion
Alcohol-beverage importer Constellation Brands took the No. 1 spot in the large-company category. Mexican imports have been the biggest story in the beer category for years, and Constellation Brands is the importer of both Corona and Modelo, two of the fastest-growing brands in the category, trading on their authenticity.
The fastest-growing large companies in the report are (beverage companies bolded):
- Constellation Brands (Corona, Modelo and Pacifico beers, among others)
- DanoneWave (Stok Cold Brew)
- Dr Pepper Snapple Group
- Reynolds American
- Imperial Brands
Photo courtesy of Pixabay.
Companies with annual U.S. retail sales between $1 billion and $5.5 billion
The Wonderful Co. leads the medium company list, trading on a collection of products—Halo oranges, packaged nuts, wines, Fiji bottled water and Pom pomegranate juice, among others—that all embrace a healthy halo.
“The Wonderful Co. is relentlessly focused on driving healthier eating options," said Adam Cooper, vice president of marketing for the company. "Consumers [are] increasingly seeking nutritious choices. Wonderful is poised for even more growth in the future.”
The fastest-growing medium companies in the report are (beverage companies bolded):
- The Wonderful Co. (Fiji water, Pom Wonderful)
- Chobani (Drink Chobani smoothies)
- Blue Diamond
- Scandinavian Tobacco
- Red Bull
Photo courtesy of Business Wire.
Companies with annual U.S. retail sales less than $1 billion
A vaping company leads the small company list, but nestled in at No. 6 is BodyArmor, a beverage company that has shook up the sports-drink category like no new player has in years. After just two short years on the market, the brand has grown to 4% share in convenience, third behind giant Gatorade and No. 2 Powerade.
The fastest-growing small companies in the report are (beverage companies bolded):
- Eden Creamery
- Idahoan Foods
- Promotion in Motion
- Kiss Products
- PDC Brands
- Titos Vodka
The Boston Consulting Group, Boston, is a global management consulting firm and a leading adviser on business strategy. Chicago-based IRI is a leading provider of big data, predictive analytics and forward-looking insights that help CPG, retailers and other companies grow their businesses.
Photo by CSP.