Coca-Cola Co (NYSE: KO) started off selling just one product in one size to one market more than 100 years ago, and today it is clear consumers will never drink the same product forever, Coca-Cola CEO James Quincey said during a CNBC interview.
Consumers want variety in all aspects of their life including what they consume, Quincey said Wednesday. Coca-Cola recognizes this and needs to become a global franchise with a broad spectrum of drinks. One of the more recent changes to the portfolio is a revamp of Coke Zero Sugar so it better resembles the classic Coca-Cola flavor. This resulted in a double-digit growth rate for multiple years.
The sparkling water category is also "exploding" in the U.S. and Coca-Cola's Topo Chico brand is among the fastest-growing in the segment, Quincey said.
Coca-Cola's sustainable objective is not to get rid of plastic, rather implement a zero-waste policy and a lower carbon footprint, he said. The company wants to be able to take back used bottles so it can be transformed into new ones.
Coca-Cola will turn this objective to reality within a year in Sweden where all bottles are made from 100% recyclable materials.