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PepsiCo, Coke Lose Market Share as Americans Drink Less Soda

  • Bottled water tops soft-drink sales volume for the first time
  • It’s a ‘seismic shift’ for beverages, consulting firm says
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Coca-Cola Co. and PepsiCo Inc.’s sodas continued to lose U.S. market share in 2016, hurt by Americans ditching the drinks in favor of bottled water.

The beverage giants saw soft-drink volume decline last year, 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.