New York — Coca-Cola and PepsiCo’s sodas continued to lose US market share in 2016, hurt by Americans ditching the drinks in favour of bottled water. Soft-drink volume declined in 2016 for the beverage giants, with per capita consumption falling to a 31-year low, according to trade publication Beverage-Digest. Still, total volume grew for the two companies, with their water and sports-drink brands picking up the slack. Bottled water beat carbonated soft drinks in sales volume for the first time, according to Beverage Marketing Corp. "The beverage industry has undergone a seismic shift," said Michael Bellas, CEO of the group. "Bottled water’s emergence as the number one beverage type clearly signals a fundamental change in what consumers want from their beverages." Coca-Cola and PepsiCo have expanded their portfolios of beverages and diversified pack sizes of carbonated drinks to appeal to increasingly health-conscious consumers. Volume of Coca-Cola’s Dasani grew 5.3% and PepsiCo’s A...
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