CU)_Beverage giant, Coca-Cola’s biggest source of growth over the next few years will likely be the company’s zero-sugar version soda. “Actually, the best growth driver in ’21 and probably for the few years is probably going to be Coke Zero Sugar,” company CEO James Quincey said on Friday (Feb 19) in an interview on CNBC.
Coke Zero Sugar, an updated version of Coke Zero, was launched nationwide in 2017, and was intended to resemble the traditional Coke soda, while appealing to more health-conscious consumers by excluding the sugar.
The efforts were paid off with the product fuelling the beverage giant’s sales growth even during the COVID-19 pandemic last year. “Coke Zero grew in 2020 through COVID, and, actually on an absolute basis, is the biggest driver of growth for the company,” Quincey said.
According to him, the company’s other new products, including Topo Chico Hard Seltzer and AHA sparkling water, are also doing well, espcially in the early days of their launches. However, Other beverage launches, like Coke Energy, have been challenged by the current crisis, and company executives intend to double down on the product this year, following lockdowns which disrupted its initial launch early last year.
Over the last 12 months, Coca-Cola’s shares have fallen 16 per cent, giving the beverage giant a market value of $215 billion.
