Soda consumption in the United States fell to a 31-year low in 2016, according to Beverage-Digest. That decline can mainly be attributed to waning demand among health-conscious consumers. Here's how much each drink category grew between 2015 and 2016, according to the Beverage Marketing Corporation. Data source: BMC. Chart by author. The theme is easy to spot: Lower-calorie products like value-added water (sparkling, flavored, and "enhanced" waters), bottled water, coffee, and tea are attracting more shoppers. Higher-calorie products, like sugary sodas and fruit beverages, are fading. That would seem like terrible news for Coca-Cola (NYSE: KO) and PepsiCo (NYSE: PEP), but both companies have been diversifying away from sodas with bottled water, teas, sports drinks, and other higher-growth beverages. Coca-Cola has exposure to the energy drink market through a large stake in Monster Beverage, and PepsiCo is well-diversified in packaged foods with Quaker and Frito-Lay products. The soda market will likely remain challenging, but shrewd companies will roll with the punches and change up their product mix. Offer from The Motley Fool: The 10 best stocks to buy nowMotley Fool co-founders Tom and David Gardner have spent more than a decade beating the market. In fact, the newsletter they run, Motley Fool Stock Advisor, has tripled the S&P 500!* Tom and David just revealed their ten top stock picks for investors to buy right now. Click here to get access to the full list! *Stock Advisor returns as of July 6, 2017. Offer from The Motley Fool: The 10 best stocks to buy nowMotley Fool co-founders Tom and David Gardner have spent more than a decade beating the market. In fact, the newsletter they run, Motley Fool Stock Advisor, has tripled the S&P 500!* Tom and David just revealed their ten top stock picks for investors to buy right now. Click here to get access to the full list! *Stock Advisor returns as of July 6, 2017. Leo Sun has no position in any stocks mentioned. The Motley Fool owns shares of and recommends Monster Beverage and PepsiCo. The Motley Fool has a disclosure policy.