Coca-Cola and Bacardi are conducting tests on canned rum and cola.

• In 2025, Coca-Cola will collaborate with Bacardi Limited to introduce a new premixed cocktail in Mexico and select European markets.
• Coca-Cola's portfolio of canned cocktails is expanding with the addition of a new drink. The company already collaborates with Molson Coors, Brown Forman's Jack Daniels, and Pernod Ricard's Absolut Vodka.
• The canned cocktail market has skyrocketed over the past few years.

Another classic cocktail is being launched in collaboration with Bacardi Limited in the booming canned cocktail market.

The two brands have announced plans to launch a ready-to-drink cocktail in several international markets, including Mexico and select European markets, starting in 2025. Additionally, the company is considering a U.S. launch of the drink in 2025, as confirmed by a spokesperson to CNBC.

The latest move of the company indicates the continued explosive growth in the canned cocktails market. In 2023, premixed cocktails were the fastest growing spirit category in the U.S., with a revenue growth of 26.7% to $2.8 billion, according to the Distilled Spirits Council of the U.S.' annual economic report.

In 2023, the U.S. saw a second consecutive year of spirits sales outpacing wine and beer, with vodka generating the highest revenue at approximately $7.2 billion, according to the Spirits Council report.

Coca-Cola has previously entered the premixed cocktail market with Topo Chico Hard Seltzer, which was launched in collaboration with beer giant in 2021. The company also joined with Jack Daniels whiskey to can Jack and Coke in 2023. In the same year, Coca-Cola brand Sprite partnered with Pernod Ricard's Absolut Vodka to create two versions of a premixed cocktail, one with Sprite and the other with Sprite Zero Sugar.

Coca-Cola CEO James Quincey stated in a press release that the company is still working on expanding its portfolio as a beverage company, specifically in the growing alcohol ready-to-drink market.

The future of the ready-to-drink alcohol market looks promising, with hard seltzers showing signs of growth despite a decline in sales in 2022. The U.S. hard seltzer market saw a significant increase from $13.2 billion to $18.97 billion in 2023 and is expected to continue growing steadily into 2030, according to Grand View Research.