The market fizzed higher last week, but SodaStream (NASDAQ:SODA) went the other way.

Shares of the company behind the beverage appliance that turns tap water into sparkling soda tumbled 12% last week, as buyout chatter fizzled.

It also doesn't help that we appear to be coming out of what was a ho-hum quarter for soda consumption.

Coca-Cola Enterprises (NYSE:CCE) -- the regional bottler of pop that rules over Western Europe -- hosed down its near-term prospects last month.

"Throughout 2012 and so far this year, we have faced challenging operating conditions, including persistent underlying macroeconomic weakness, significant headwinds from poor weather, the prolonged impact of a sharp excise tax increase in France, and a dynamic competitive environment in Great Britain," CEO John Brock warned ahead of a conference presentation.

It's not just a leading bottler smarting. Coca-Cola (NYSE:KO) itself reports tomorrow, and it's probably not going to be as refreshing as its namesake soft drink. Analysts see a marginal uptick in profitability and a 1% decline in revenue.

SodaStream would seem to be caught up in the same headwinds facing Coca-Cola Enterprises and Coca-Cola. Sugary soft drinks are being played up as unhealthy refreshments for children, and the unseasonably cool spring, and rainy June, probably scaled back demand for soft drink satisfaction.

Coca-Cola Enterprises has challenges across the Atlantic, but Western Europe is SodaStream's largest market, accounting for nearly half of the company's revenue.

However, SodaStream has managed to post double-digit revenue growth in Europe through at least the first quarter of this year. Western Europe is still mired in an economic funk, but the value proposition of making carbonated beverages at home is resonating in SodaStream's more-established overseas markets.

Against the flattish reports that Coca-Cola should report tomorrow and Coca-Cola Enterprise will announce next week, SodaStream is expected to hold up considerably well when it reports at the end of the month. Analysts see revenue and earnings per share climbing 26% and 27%, respectively.

Both Coca-Cola and SodaStream trade at 18 times next year's earnings. Doesn't your portfolio deserve the company that's actually growing at a clip that justifies that kind of multiple?

SodaStream will bounce back. If it doesn't happen in the next few days, SodaStream's report on July 31 should remind investors about the disruptor's potential for growth in a flat industry.

Longtime Fool contributor Rick Munarriz owns shares of SodaStream. The Motley Fool recommends Coca-Cola and SodaStream. The Motley Fool owns shares of SodaStream. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.