Collaborations between well-known brands, such as the recent Coca-Cola and Oreo partnership, are of mutual benefit to companies by way of sales and marketing promotion. The partnerships allow collaborating brands to leverage their existing fan bases and create a buzz around the product. As such, beverage companies need to innovate beyond their markets, as 65 % of global consumers say it is essential or nice to have a well-known brand when deciding to make a purchase^*, says GlobalData, a leading data and analytics company.

In August this year, The Coca-Cola Company announced a partnership with Mondelez to launch a limited-edition cola with flavours inspired by Oreo cookies. As well as recently, the two global brands have released Oreo Coca-Cola cookies. This collaboration aims to celebrate the bond between the food and drink-based brands as they label themselves “besties” and offer consumers a unique and playful experience.

Similarly, Fanta, another brand under Coca-Cola, is rolling out a limited-edition apple flavour variant called Fanta Zero Afterlife. This launch is timed for Halloween and is part of Fanta’s Halloween activity. The packaging will feature Beetlejuice-themed designs, creating a strong association with Fanta and Warner Bros. Pictures brands.

George Shaw, Consumer Analyst at Globaldata, comments: “This marketing campaign aims to drive talkability and engage both Fanta and film fans. Moreover, these collaborations and limited-edition products are part of a larger trend in the beverage market, where companies are constantly looking for ways to innovate and attract consumers with unique offerings. By partnering with well-known brands or incorporating popular themes, companies can generate brand excitement and increase sales.”

By introducing limited-edition flavours, companies can create a sense of urgency and encourage consumers to try the product before it’s gone. The impact of these collaborations and limited-edition products is significant. GlobalData’s Q2 2024 Global consumer survey reveals that consumers value novel and unique features when making purchasing decisions and 60 % of them consider it essential or nice to have novel/unique features when deciding to make a purchase. This aligns with the strategy of Coca-Cola.

According to GlobalData, the global carbonates market is projected to reach USD 521 billion by 2029, and global companies are collaborating to capture market share.

Shaw adds: “This highlights the competitive nature of the carbonates industry and the importance of innovation and strategic partnerships. Coca-Cola and Fanta’s collaborations demonstrate their efforts to stay ahead in the market and attract consumers with unique offerings.”

Coca-Cola is not the only beverage brand using collaborations. GHOST, a supplement lifestyle brand, has launched a lineup of hydration drinks in collaboration with Sour Patch Kids. This collaboration aims to provide consumers with a familiar tasting way to optimise their hydration during intensive workouts. GHOST can tap into the popularity of the Sour Kids Patch brand to attract a new base of customers previously unreached by hydration beverages and attract a potentially younger demographic.

Shaw concludes: “The collaborations between beverage brands like Coca Cola and Ghost showcase the importance of innovation and strategic partnership. As consumer demand for novel and distinctive offerings grows, these collaborations in the carbonates and sports drinks markets are crucial for capturing market share and increasing brand loyalty.”

^*GlobalData 2024 Q2 Consumer Survey – Global, published in July 2024, included 22,016 respondents