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By broadest indexes 2025 was a great year to be an equity investor. Dow Jones index grew 13%, S&P 500 rose 12.3% and Nasdaq soared 20%. But much of that was fueled by tech players, particularly those involved in AI, and year played out more modestly for bevcos and CPG cos in general, as reflected in Dow Jones US Consumer Good Index that grew a mere 3.68%. Within that context how did bevcos fare? We'll start with Big 3 CSD players. Coca-Cola (KO) was clear winner here, as its stock price grew 12.3% in 2025, up from a 5.7% gain in 2024 tho below its 24.5% increase in 2023. PepsiCo (PEP) stock prices fell 5.6% last yr following a 10.5% decline in 2024 as it struggled to hold its own vs KO and drew unrequested attention from activist investor Elliott, which had a few thoughts. That makes for two down yrs after PEP surged 53.7% in 2023. Keurig Dr Pepper (KDP) stock price down 12.8% in 2025 following a 3.6% dip in 2024. It was a mixed bag for KDP: robust performance on liquid refreshment bevs but struggles on Keurig Coffee, along with strategic pivot that landed with a thud on Wall Street. Indeed, it was up 11% for YTD before Sep announcement of plan to acquire JDE Peet's, then split co in its component coffee and bev parts prompted 27% skid in shares.Looking at other key players, Monster Beverage stock price bounced back from 8.8% decline in 2024 with a 46% jump in 2025 to $76.67 as investors who'd been spooked by category-wide slowdown last year climbed back on board. Celsius Holdings also bounced back with a 75% surge in 2025 after falling 51.7% in 2024 as it navigated new alliance with PepsiCo. Starbucks (SBUX) stock price down 7.7% in 2025 following a 5% drop the prior yr as it misfired on initial hire of CEO to lead it out of doldrums. La Croix marketer National Beverage (FIZZ) stock price dropped 25.3% in 2025 after declines of 14% and 30% the prior two yrs. Also in energy space, Canada's Guru Organic Energy enjoyed 289.5% rise in share price in 2025, growing form $0.95 a share to $3.70, as it successfully navigated conclusion of PepsiCo alliance in core market while building on strong base, especially in its Quebec bastion. As Guru leaders like to remind investors, the co had long operated profitably as a privately held co before making its IPO bet a few years ago, tho it's willing to incur some losses chasing growing oppty for better-for-you energizers.Kefir supplier Lifeway Foods stock price fell 6.3% in 2025 after two yrs of solid growth including an 85% surge in 2024. Despite soap opera that's had CEO exchanging insults with her dissenting mom and brother while strategic partner Danone wrung its hands in its SEC filings, core biz has performed well. On boutique soda side, one long-suffering player has been enjoying burst of recent interest. That's Jones Soda: after ousting CEO who overspent on innovation and riding some viral moments with partners like Fallout game, JSDAupped its stock price to 28 cents, a 75% increase over 2024. That hasn't happened for its small-cap rival Reed's Inc, which struggled again, its shares sinking 44% in 2025 following a 60.6% drop in 2024 as it failed to find a way to both cut the burn rate and get meaningful topline growth. Like Starbucks, it's in hands of a new CEO lately.Most emerging brands that took advantage of wide-open window for public listings a few years ago are still struggling to placate investors who abruptly shifted their priorities from growth-at-all-costs to path-to-profitability. Prime example: oatmilk pioneer Oatly, which slowed its stock price decline to -19.4% in 2025 following a 43.6% dropoff in 2024. Recall it had IPOed at well over $10 bil before its asset-intense model started to bug investors; its market cap now is below $350 mil. Stevia soda maker Zevia stock price dropped 44.6% last yr after more than doubling in 2024 as it navigated some key transitions. The outlier has been coconut water marketer Vita Coco, which maintained momentum with 43.6% increase in its stock price in 2025. That followed gains of 44% in 2024 and 85% in 2023. It has unlocked the secret of growing briskly but profitably, in market it dominates, with investors more than willing to overlook that COCO so far hasn't delivered on its other investment premise of bringing other good-for-you brands under its umbrella.Meanwhile, if the protein craze has put us in a new Paleolithic era, a pair of key publicly traded players got clubbed on Wall Street. Protein shake co BellRing Brands couldn't sustain momentum from 2024, when it grew 36%, as its stock price dropped 64.5% last yr amid an amalgam of challenges like rising competition and surging input costs including tariffs. Simply Good Foods took a 48.5% hit to its share price in 2025 after a modest decline of 1.8% the prior yr as it struggled to turn around faltering Atkins brand while riding continued growth of Quest and working to integrate acquired OWYN plant-based brand. In recent weeks, leaders of both Quest and OWYN platforms have moved on.Among the coffee pure plays, JDE Peet's rebounded from a 31% stock price drop in 2024 with a 92.7% jump in 2025. Now it's on way to being acquired by KDP. Another IPO baby from earlier in decade, Black Rifle Coffee, saw its share price decline steepen in 2025 as it struggled to maintain brisk topline while operating in the black. BRC share price fell 65% last yr after drops of 12.7% and 40% prior two yrs. Westrock Coffee stock price fell 36.6% in 2025, very similar to its 37% decline in 2024, as it scrambled to complete ambitious expansion that includes gargantuan plant in Conway, Ark. Then there was Dutch Bros. The broista-operated drivethru chain beloved by its customers grew its stock price another 17% last yr following big 68.6% gain in 2024 as its eastward push often was greeted with lines of cars down the block at new locations.Laird Superfood shareholders have been on a rollercoaster ride as a new CEO quickly got one-time DTC-only player to operate on financially sustainable footing while expanding into retail. Seemingly brought back from the dead, Laird was a big winner in 2024 as its share price surged 766%, from $0.91 to $7.88 per share. But in 2025, its stock price fell 72% to $2.22. As with KDP, much of the erosion occurred late in the year with a strategic pivot that alienated some shareholders - in this case its planned acquisition of rival Navitas at tradeoff of ceding control to the banker that will be funding the acquisition push.Over on cannabis side, Tilray Brands - by no means a pure play, given its heavy tilt toward beer and spirits brands, non-infused NAs and Manitoba Hemp platform - had turbulent ride in 2025 as investor euphoria on broadening acceptance of hemp-based THC bevs was countered by late-year legislation that would essentially outlaw the category in a year's time. (The industry is scrambling to head off that outcome.) Like others in craft beer space, TLRY also is navigating portfolio rationalization as that category's shakeout proceeds. So shares rose from $14.60 a year ago to peak of $23.20 before early-Oct swoon to $9 range, leaving it down 34% for full year. Recall, Tilray stock had a 1-for-10 reverse stock split on early Dec 2.

2025 Stock Price Review: Mixed Bag, as Coke Thrives but PEP, KDP Sink; Energy Players Monster, Celsius, Guru All Soar; In Year of Protein, BellRing, Simply Good Foods Way Down

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