Coke Zero Sugar will be a major growth engine for Coca-Cola going forward, according to CEO James Quincey.
Coke Zero Sugar was rolled out in 2017 as an update to Coke Zero, itself 12 years old by that time. Quincey told CNBC that he thinks Coke Zero Sugar will be “the best growth driver of ’21.”
He said that Coke Zero had proven a bright spot in the pandemic for Coca-Cola – one of the few bright spots for the company, which has been hit hard by the pandemic. Late last year, Coca-Cola started laying off 2,200 employees as part of a restructuring.
“Coke Zero grew in 2020 through Covid, and, actually on an absolute basis, is the biggest driver of growth for the company,” Quincey said in the CNBC interview.
A competitor is also staking a lot on no-sugar soft drinks. Keurig Dr Pepper will roll out zero-sugar versions of most of the drinks in its portfolio, including Dr Pepper, 7Up, A&W Root Beer and others.
Similarly to Coca-Cola, Keurig Dr Pepper’s new zero-sugar versions are intended to complement, not replace, products like Diet Dr Pepper, says CEO Robert Gamort.
