ATLANTA (dpa-AFX) - Coca-Cola said it will launch a hard seltzer under the Topo Chico brand later this year, marking the beverage giant's foray into the hard seltzer segment.
The Topo Chico Hard Seltzer will initially be offered in select cities in Latin America this year and will launch in the U.S. in 2021.
Coca-Cola said it will share more details about the product closer to its launch.
According to the company, Topo Chico Hard Seltzer is an experimental drink inspired by Topo Chico sparkling mineral water.
Coca-Cola acquired Topo Chico, a sparkling mineral water brand that is popular in Texas and Latin America, in 2017.
Hard seltzer, a low-alcohol, low-calorie water-based drink, is among the fast-growing categories in the beverage segment. The category has seen a spike in popularity in the U.S. over the past two years.
Consumers' increased focus on health has enabled new beverage categories such as alcohol-free beverages, cannabis-infused drinks and hard seltzers to gain popularity.
According to a report by Nielsen in June, total hard seltzer sales for the 52-week period ended June 13, 2020 were $2.7 billion. The total number of hard seltzer brands rose to 26 by the beginning of 2019 from just 10 brands in early 2018.
More than 65 brands are now fighting for consumers' attention and purchase, according to the report.
The hard seltzer market in the U.S. is dominated by two brands - White Claw and Boston Beer's Truly. White Claw is owned by Mark Anthony Brands.
Brewers such as Constellation Brands and Anheuser Busch have recently launched hard seltzers. Constellation Brands recently launched the Corona brand hard seltzer, while Anheuser-Busch launched Social Club Seltzer in May.
Copyright RTT News/dpa-AFX
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