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Some shareholders are feeling locked out of the modern soda boom. Do they have a case? 

Kanen Wealth Management LLC, which owns roughly 4% of Zevia’s outstanding shares, last week took the extraordinary step of issuing a public letter calling for the company’s sale. 

What It Said: Zevia and its executive management “missed the category it helped create,” so the letter claimed, crippled by declining sales despite the fact that “modern soda” brands like Poppi, Olipop and others have soared in recent years. 

It gets deeper than that (read more here), but using the Launch Explorer tool (available exclusively to BevNET/Nosh Insiders) we can get a top-down view of the soda boom and how Zevia fits in…

Soda/CSDs were the most popular beverage format of the year so far, with over 125 new products hitting the market. 

• And to those shareholders’ point, Fiber/Gut Health was the most popular benefit claimed in the soda category. 

• With more players in the game, soda’s makeover as a functional platform means Zevia isn’t just competing with traditional soft drink makers. 

Zooming Out: Now established wellness brands like Koia (Protein Pop, launched in January) and Premier Protein (launched in August) are leveraging their credentials to push into zero-sugar, better-for-you soda. 

• Zevia introduced new SKUs in February and May, but innovation can get lost in the mix as the category gets louder. 

• Zero-sugar soda (particularly tied to a single ingredient, like stevia here) may not be as strong a differentiator as it used to be.

• Even “dirty soda” flavors launched this year from Slice (launched in May) and Dr. Pepper (February) ticked the box for no/low-sugar. 

Whether you take yours with sugar or not, why not crack a cold soda and give the Launch Explorer a spin for yourself. Our live database features over 2,000 new products from this year, giving you a detail-rich overview of the trends and innovation that are shaping store shelves right now.  

Access all of the insight here

Pernod Ricard closed a rough fiscal 2026 with organic net sales down nearly 4% globally and 14% in the U.S., but CEO Alexandre Ricard used the company’s full-year results call to highlight where the French spirits giant is seeking growth, including ready-to-drink (RTD) cocktails. Read the story.

The organic sparkling drink offers a refreshing, lightly tart experience that feels approachable rather than intensely sour, while the compact 8.4 oz. can and clean branding give it a clear identity. Read our full review.

Verlaine, the Lower East Side bar synonymous with New York’s lychee martini, is about to see whether two decades of happy hour fame can translate into retail sales. Read the story.

Liquid Death is facing two proposed class action lawsuits, both taking aim at the brand’s claims that its energy drinks contain “0g sugar” even though it uses allulose, a sweetener that has been classified by the Food and Drug Administration (FDA) as a sugar. Read the story.

Tired of chasing food, beverage, and beer reports across sites? The Nombase Data Hub, powered by BevNET, brings together consumer trends, category shifts, retail data, all in one searchable archive, powered by top research partners.

Insider-only access here.

We’re solely streaming soda today. Here's a roundup of notable bits of news you may have missed this week...

🥤 Dirty soda category creator Swig is bringing its drive-thru concept to the Greater Boston area, this week announcing plans for six locations in the Bay State. Don’t worry, our Newton, Mass-based BevNET crew already has a field trip planned to bring you the full review. Read more.

🩷 And Olivia Rodrigo has partnered with Mountain Dew. The iconic brightly colored Baja Blast is getting a feminine flair, but only within the bounds of Taco Bell. You Seem Pretty Pink for a Baja Blast is a new rose-toned liquid inspired by the aesthetic of Rodrigo's recent album, You Seem Pretty Sad for a Girl So In Love. Read more.