> Coca-Cola confirms a cane-sugar version of its trademark cola is coming to the U.S.
Coca-Cola confirms a cane-sugar version of its trademark cola is coming to the U.S.
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Coca-Cola said Tuesday it will add a cane-sugar version of its trademark cola to its U.S. lineup this fall, confirming a recent announcement by President Donald Trump.
Trump said in a social media post last week that Coca-Cola had agreed to use real cane sugar in its flagship product in the U.S., which has been sweetened with high fructose corn syrup since the 1980s. Coke didn't immediately confirm the change, but promised new offerings soon.
On Tuesday, Coca-Cola Chairman and CEO James Quincey said Coke will expand its product range “to reflect consumer interest in differentiated experiences.”
“We appreciate the president’s enthusiasm for our Coca-Cola brand,” Quincey said in a conference call with investors Tuesday. “We are definitely looking to use the whole tool kit of available sweetening options."
Quincey noted that Coke uses cane sugar in some other U.S. drinks, like its Simply brand lemonade and Honest Tea. Coke has also sold Mexican Coke, which is made with cane sugar, in the U.S. since 2005.
“We’re always looking for opportunities to innovate and see whether there’s an intersection of new ideas and where consumer preferences are evolving,” Quincey said. “It’s a good sign that the industry, including ourselves, are trying lots of different things.”
Rivals PepsiCo and Dr Pepper have been selling versions of their trademark colas sweetened with cane sugar in the U.S. since 2009.
Asked if Coke would also consider introducing a prebiotic version of its trademark cola — as PepsiCo did this week — Quincey said the company is currently selling a Coke with added fiber in Japan and is studying consumer response to it.
Quincey said consumer demand for its products improved in the second quarter in many markets, including China, Europe, Africa and North America.
“I would I would say overall that the global economy and the global consumer remains resilient,” Quincey said.
But early monsoons and conflict hurt demand in India, and Quincey said demand in Thailand and Indonesia was also weaker than expected. Quincey also said lower-income consumers in the U.S. and elsewhere have also pulled back on spending.
Global case volumes of Coca-Cola fell 1%. Juice, dairy and plant-based beverages fell 4%, Coke said. Sports drink case volumes were down 3%, as higher demand in North America was offset by declines in Latin America.