Coca-Cola to launch a Topo Chico hard seltzer
Coca-Cola is set to launch a hard seltzer under the favourite brand, Topo Chico. However, for a start, the drink will only be available in select cities in Latin America.
This is the first time the company is moving into the hard seltzer space. The beverage manufacturer and supplier purchased Topo Chico in 2017 for $220 million.
The company's press release said, "The Coca-Cola Company is committed to exploring new products in dynamic beverage categories, including hard seltzer."
The category is fast growing and has led to the launch of new hard seltzer across different brands. Anheuser-Busch in May launched Social Club Seltzer, a premium seltzer with cocktail flavours.
As around the beginning of 2018, just ten hard seltzer brands were in the market according to a Nielsen report. This number increased to 26 brands in early 2019. Nielsen report said, "More than 65 brands are now fighting for consumer's attention and purchase".
For the 15-week period which ended June 13, the report said hard seltzer products purchased at grocery stores, big-box retailers as well as liquor stores quadrupled year-over-year.
Danelle Kosmal, VP of Beverage Alcohol at Nielsen, said, "Within the hugely successful and growing hard seltzer segment, new and old brands alike can succeed even if their market share is relatively small or declining because the total pool of sales of hard seltzer within US retail is growing at such a high rate.
"As such, with new launch after new launch, manufacturers may lose market share but continue growing their sales".
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