Coca-Cola Is Poised for a 2021 Hard Seltzer Launch
The first half of 2021 will see Coca-Cola (NYSE: KO) venture back into the world of adult beverages in the United States for the first time in four decades with the launch of a new hard seltzer line. In an interview with CNBC, Coca-Cola CEO James Quincey said the release is part of the company's effort "to follow the consumer" into the lucrative hard-seltzer market.
Beverage makers worldwide are scrambling to introduce their own hard seltzers, the popularity of which has been growing for years and has mushroomed in both 2019 and 2020. According to That's magazine, hard-seltzer sales exploded by 200% in the U.S. year over year in 2019, with the trend strengthening in 2020 as COVID-19 encouraged at-home consumption. The fizzy drink is becoming popular in many other countries, too, including the potentially huge market of China.
Image source: Getty Images.
Source Fool.com
