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PepsiCo, Coca-Cola Declare War in Sparkling New Category

With their soda sales continuing to lose fizz, PepsiCo (PEP - Get Report) and Coca-Cola (KO - Get Report) are going after each other in the red-hot sparkling water market.

PepsiCo fired the latest shot this week by debuting a new line of low-calorie, flavored sparkling waters under its Aquafina line. The three flavors are black cherry dragonfruit, lemon lime and orange grapefruit; they are lightly sweetened with cane sugar. Calorie count: 10.

Aquafina's latest sparkling beverages join others in the PepsiCo portfolio. In June last year, PepsiCo released Izze Sparkling Water nationwide. The product also has 10 calories and is the only USDA organic-certified sparkling water product on the market.

A photo posted by Brian Sozzi (@briansozzi) on Apr...