LONDON, Oct 16 (Reuters) – Absolut Vodka and lemonade drinkers will soon be able to sip their preferred cocktail from a can, after drinks makers Pernod Ricard (PERP.PA) and Coca-Cola (KO.N) agreed to a pre-mixed version made from the spirit combined with Sprite.
France’s Pernod and Coke said on Monday the Absolut & Sprite canned cocktail will be launched in select European markets, including Britain, the Netherlands and Spain, from early 2024.
The cans will feature two of the world’s most recognisable trademarks, the companies said.
Soft drinks makers like Coke, which launched a partnership with Jack Daniels whiskey last year, have been pushing further into alcohol, often via such partnerships, amid the growing popularity of pre-mixed cocktails in a number of key markets.
Spirits makers, meanwhile, are also looking to cash in on a category whose value is expected to grow by $11.6 billion between 2022 and 2026, according to estimates made last year by industry tracker IWSR.
Volumes are expected to grow by 24% over the same period, IWSR added.
“Sprite is a wonderful pairing for Absolut, and I’m convinced that our joining forces will bring the whole alcohol [ready-to-drink] category to the next level,” said Pernod CEO Alexandre Ricard.
Pernod said vodka is one of the most popular bases for alcohol ready-to-drink products, and lemon-lime soft drinks are one of the most popular mixers in pre-mixed cocktails.
IWSR’s 2022 research found that spirits-based products, especially those made from vodka, hold a 45% share in 10 of the ready-to-drink category’s biggest markets, with cocktail or long drink products expected to spur growth.
Across those markets, more than 50% of consumers are influenced to purchase ready-to-drink products made by a well-known spirits, beer or soft-drink brand, IWSR found.
Reporting by Emma Rumney; Editing by Andrea Ricci
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