SAM - Coca-Cola Jumps Into the Popular Hard Seltzer Category
Beverage giant Coca-Cola (NYSE: KO) has announced plans to launch a hard seltzer product line inspired by its Topo Chico sparkling mineral water brand. The new drink will go on sale this year, starting in select Latin American cities. The company said it is "committed to exploring new products in dynamic beverage categories, including hard seltzer."
The new drink will debut in the U.S. in 2021, reports CNBC. Citing a market analysis firm, the article noted that hard seltzer sales volume more than tripled in 2019. The category is led by White Claw, owned by Mike's Hard Lemonade brewer Mark Anthony Brands, and Truly, which is owned by Sam Adams brewer Boston Beer Company (NYSE: SAM).
Image source: The Coca-Cola Company.