The beverage giant Coca-Cola Co. has begun selling its own sweetened beverage in select countries, as part of a plan to tap into the booming global appetite for sweetened beverages.
Cooke, which has about a $1 billion annual global sweetener market, is working with several beverage makers, including PepsiCo PEP, +0.07% and PepsiCo Inc. PEP -0.04% PepsiCo is also selling its coke in the U.S., as well as some in Europe and Canada.
Coke’s sweetened drinks will be available in Australia and New Zealand beginning April 30, according to a Coke spokeswoman.
Coke was one of the first beverage companies to capitalize on the rapidly growing sweetener demand in recent years, when the beverage industry began moving away from traditional sugar cane to use a combination of sweeteners.
Coke’s portfolio of sugar-free drinks, which include drinks like Coca-Colas Fanta and Mountain Dew, also includes the popular Coors Light beer.
Cozmic beverages, such as Coke Zero, are available in countries such as France, Germany, Spain and the United Kingdom.
Co-founder and chief executive officer Gary Watts said he expects the company’s new sweetened products will be a hit with consumers, and he believes the industry is ripe for an expansion.
The market for coke is about $3 billion a year and growing, he said.
Cozmic has not yet decided whether it will expand into other countries, he added.
“The global market is huge, and if we have to choose between the world’s best brands and the world at the end of the day, we are going to choose the best brands,” he said at a conference last month.
Coalition of the Willing, by contrast, will be the first brand to debut a new sweetener.
The company, based in Los Angeles, plans to roll out the drink in Europe in the spring.
Coelco CEO and chairman Mark Bittman said that in the United States, Coke will sell the beverage at its local stores in April, with plans to expand the drink to other states.
The Coca-Co brand will remain on sale in the country and will be marketed under the Cozic name.
“It’s really about taking the sweetener and making it available to consumers across the world,” he told CNBC’s Squawk Box in an interview last week.
CopperCozmich CEO Peter Lutz said the company was in the process of developing a sweetened version of Coztic’s Coca-cola Zero, which is expected to be released in the first half of 2019.
Cozi is a mix of sugar and starch, but it’s produced by a process called hydration.
Coke uses this process to remove all of the starch and sugar from the beverage.
Coze and Cozmiich are working with beverage makers to get their own sweeteners into their beverages, including the popular Mountain Dew.
The new drink will be sold in stores, with Coke also working with PepsiCo and Pepsi in other countries to make the drink available.
Cozy cozies are a staple in the popular snack bar chain Taco Bell Corp. TAP -0% The snack bar company also said it would start selling Cozmitz in the next few months, with a similar drink to the Mountain Dew coming to a Taco Bell store in the San Diego area later this year.
The cozmic beverage market grew by more than $300 million in 2017, according a report from market research firm Euromonitor International.
It was one part of the total soft drinks and candy market of $2.8 trillion.