Coca-Cola has dipped its toe into the alcohol market with Topo Chico Hard Seltzer as it looks for new ways to target millennial consumers.
The seltzer is set to launch in the UK and Ireland from November, with plans to expand across the rest of Europe in 2021. It is set to be supported by an integrated marketing campaign.
The beverage will be available in three flavours: Tangy Lemon Lime, Tropical Mango and Cherry Acai. All the variants are gluten-free, 4.7% ABV and 96 calories.
An extension of Coca-Cola's sparkling mineral-water brand Topo Chico, the seltzer range launched in Latin America in September, where the core brand has gained momentum as a cocktail mixer.
James Quincey, chairman and chief executive of The Coca-Cola Company, added: “The Topo Chico brand has tremendous relevance and resonance with millennial consumers, so I think this is going to be a great opportunity for us – it's very synergistic for the Coke system globally.
“We're going to experiment with a number of cities around the world, just one of the many things we're doing to really focus our portfolio to be very consumer-centric and drive those brands that can create scale for us.”
Brands including Kopparberg and Brewdog have also entered the hard seltzer category this year.
According to data by Nielsen, the number of adults drinking hard seltzer at bars and restaurants across the US grew by a massive 73% between spring and autumn of 2019.
Currently valued at $4.5bn (£3.4bn), the hard seltzer market is predicted to be worth $14.5bn (£11.1bn) by 2027.
Walter Susini, senior vice-president of marketing at The Coca-Cola Company, said: “We are confident that we have a fantastic product in Topo Chico Hard Seltzer in an exciting and dynamic new category.
“The hard seltzer category is most developed in the US, where it has grown exponentially in the past few years.
“With the strength of our system behind it, we believe Topo Chico Hard Seltzer will flourish and more importantly, offer the consumer something new and delicious.”