Coca-Cola Dives into Canned Cocktails with New Rum and Coke Collaboration
Partnership with Bacardi Limited to Launch New Premixed Cocktail
Coca-Cola has announced a new partnership with Bacardi Limited to launch a canned premixed rum and Coke cocktail. The drink is set to hit international markets, including Mexico and select European countries, in 2025. The company is also evaluating a US launch for the same year.
Dramatic Growth in Canned Cocktail Market
The canned cocktail market has seen explosive growth over the past few years. In 2023, premixed cocktails were the fastest-growing spirit category in the US, with a 26.7% increase to $2.8 billion in revenue. Spirit sales in the US have remained at the top of the market, beating out wine and beer for the second straight year.
Coca-Cola’s Entry into the Market
This is not Coca-Cola’s first foray into the premixed cocktail market. The company has previously partnered with Molson Coors to launch Topo Chico Hard Seltzer in 2021 and with Brown-Forman’s Jack Daniels whiskey to can a popular bar drink, Jack and Coke. In 2023, Coca-Cola brand Sprite partnered with Pernod Ricard’s Absolut Vodka for two versions of a premixed cocktail, one with Sprite and the other with Sprite Zero Sugar.
A Growing Market
The entire ready-to-drink alcohol market is showing strong signs of growth. Hard seltzers, which often contain malt-based alcohol, saw a decline in 2022, but the US hard seltzer market grew from $13.2 billion to $18.97 billion in 2023 and is expected to continue growing until 2030, according to Grand View Research.
CEO’s Comment
"We are continuing to develop our portfolio as a total beverage company, including in the growing alcohol ready-to-drink market," said James Quincey, CEO of Coca-Cola, in a press release.
Conclusion
Coca-Cola’s latest move into the canned cocktail market is evidence of the company’s commitment to expanding its portfolio and capitalizing on growing trends in the industry.
Frequently Asked Questions
Q: What is the name of the new canned cocktail?
A: The name of the new canned cocktail has not been released by Coca-Cola.
Q: When will the drink be available?
A: The drink will launch in Mexico and select European markets in 2025, with a potential US launch in the same year.
Q: What is the target market for the new product?
A: The target market for the new product is global, specifically in Mexico and select European countries, with a potential US launch.
