RTD tea softens blow of declining soda sales at Coca-Cola
Fourth quarter results from Coca-Cola confirm the continuing decline of its core soft drinks market and highlight a solid performance by its portfolio of ready-to-drink tea brands. Subdued demand for sugary soft drinks and adverse currency translations resulted in a 4% dip in net revenue for the quarter and 2% for the full year. However, the company's RTD tea line-up bucked the trend and recorded an impressive 11% growth for the year, lead by brands such as Gold Peak, Honest Tea and Fuze Tea. The numbers reflect solid growth in the broader ready-to-drink tea market in the US, which is expected to generate sales of $5.3 billion in 2014 and grow by an annual rate of 6% until 2018.