Thankfully, Beverage Digest uploads annual data on the U.S. carbonated soft drink (CSD) market, which is useful for investors in analyzing year-over-year share gains/losses. This year, Beverage Digest has updated their data to reflect a shifting industry; as opposed to just listing CSD market share, the company lists liquid refreshment beverage (LRB) share as well to account for the increasing important of non-carbs such as bottled waters, sport drinks, ready to drink (RTD) teas and coffees, and juice drinks.
Within the CSD category, Coca-Cola saw their share of the market decline by 0.1% to 41.9%, while PepsiCo's share fell 0.8% to 28.5%. Of the big three, Dr. Pepper Snapple performed the best in relation to last year, holding share steady at 16.7%. By brand, Coke and Diet Coke maintained their top positions, with Pepsi, Mountain Dew, and Dr. Pepper rounding out the top five slots.
In overall LRB's, Coca-Cola's share declined 0.2% to 34%, but was still good enough for a decent lead over PepsiCo, which holds 26.9% of the category after a 0.6% loss of share in 2011. By brand, Coke maintained a demanding lead at 18.8% of the category, compared to just 10% for #2 PepsiCo. The first non-CSD in the rankings is Gatorade, at #5 with 4.2% of the LRB category.
For interested investors, the full results can be found here.
About the author:I'm a value investor, with a focus on patience; I look to buy great companies that are suffering from short term issues, and hope to load up when these opportunities present themselves. As this would suggest, I run a fairly concentrated portfolio by most standards, usually with 8-10 names; from the perspective of a businessman rather than a market participant / stock trader, I believe this is more than sufficient diversification.
I hope to own a collection of great businesses; to ever sell one, I would demand a substantial premium to the average market valuation due to what I believe are the understated benefits to the long term investor of superior fundamentals and time on intrinsic value. I don't have a target when I purchase a stock; my goal is to replicate the underlying returns of the business in question - which if I've done my job properly, should be very attractive over a period of many years.