Mole Boy Hard Seltzer
Source: Coca-Cola.
Coca-Cola announced Tuesday that it will launch a hard drive under its Topo Chico brand later this year.
The new drink will be sold in selected cities in Latin America. Topo Chico Hard Seltzer will launch in the United States in 2021, becoming the company’s first foray into alcoholic beverages in its local market for the first time since it sold its Wine Spectrum business in 1983.
Coca-Cola acquired Topo Chico in 2017. Sparkling mineral water is a cult favorite among Texans, but the beverage giant has been expanding its distribution since the deal. In the company’s second-quarter earnings call, CEO James Quincey referred to Topo Chico as a rising star in Coca-Cola’s portfolio.
Both sparkling water and hard mineral water are fast growing categories for the beverage industry. In 2019, the volume of the hard seltzer tripled, helping to reverse the trend of declining global alcohol consumption, according to IWSR.
White Claw, owned by beer maker Mike’s Hard Lemonade Mark Anthony Brands, and Boston Beer’s Truly own the majority of the market. Other beverage giants, such as Anheuser-Busch InBev and Constellation Brands, have added hard seal lines to some of their most recognized brands.
Coca-Cola said it would share more details about Topo Chico Hard Seltzer closer to launch.
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