Red Bull was the “growth leader” among large US consumer packaged goods companies last year, according to a newly released report by IRI and Boston Consulting Group. The global energy drink maker grew +20% and generated more than $6 billion in 2021. A beverage company also topped the list of mid-sized companies (which generate between $1 billion and $6 billion in sales). BodyArmor grew +52%, according to IRI and BCG. Other rankings are included in the table with this story. The rankings adjust for factors such as distribution gains and mix shift that could skew results. In 2021, US CPG companies in aggregate grew by +2.7% in measured retail channels, a deceleration from almost +11% growth in 2020 as consumers stocked pantries amid the Covid-19 pandemic.

MORE. The rankings below show beverage companies that made the list, as well as any drink brands that the study identified as significant growth drivers for each.

Large Companies (>$6B Annual Revenue)
No. 1 Red Bull – Drivers: Red Bull, including Summer Edition and Sugar Free lines No. 3 Constellation Brands – Drivers: Modella, Corona, Meiomi wine
No. 4 Unilever – Driver: LiquidIV hydration drink
No. 8 PepsiCo – Drivers: Gatorade, Mtn Dew
No. 9 Nestle – Driver: Starbucks bagged coffee
No. 10 Keurig Dr Pepper – Drivers: Dr Pepper, Sunkist, Keurig coffee pods

Mid-Size Companies ($1B-$6B Annual Revenue)
No. 1 BodyArmor
No. 3 Boston Beer Company
No. 11 The Wonderful Company (Pom Wonderful, Fiji) No. 14 Bang Energy

Small Companies ($100M-$1B Annual Revenue) No. 4 Celsius fitness drinks
No. 12 Milos Tea

WHAT’S NEXT? In their report, IRI and BCG recommended four “priorities” for driving growth this year. Consumer packaged goods companies should 1) evolve a flexible and dynamic supply chain, 2) build a price, pack and go-to-market strategy that is in line with consumers’ online-driven desire to buy anytime using retail and/or online channels, 3) use technology and data to evolve operating models to meaningfully lower costs, and 4) actively use tools and processes, including acquisition and divestiture, to manage portfolios, allowing them to tap more quickly into emerging consumer trends and high-growth acquisition targets.