Coca-Cola must long for the heady days of the mid to late 20th century, when fat - not sugar - was public enemy number one.

Amid continually-plummeting sales, the once all-powerful soft drink company has today in Australia released the fourth sugar-free or low sugar version of its staple beverage Coca Cola - heavy with promise that after five long years of testing they've finally nailed the elusive taste of the original.

According to news.com.au, initially, both Coke No Sugar and Coke Zero will be available on shelves in Australia but the plan was to eventually phase out the older product.

Coca-Cola Oceania country manager Sandhya Pillay today confirmed Coca-Cola New Zealand would continue selling the products, regardless of what happened in the Australian market.

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"We currently have no plans to remove Coke Zero or Diet Coke from our Coca-Cola offering in New Zealand," Pillay said.

The launch of the new product was a result of changing consumer tastes and preferences, Pillay said, and a way for the company to remain relevant.

The company has spent five years developing the new Coke No Sugar recipe which it claims tastes almost identical to Coke classic. It says that its consumer testers could not tell the difference. Pillay said the launch was a huge change for the company.

"We're launching the biggest product since Coca-Cola itself," Pillay said.

"We've been focusing on choice for so long, particularly in New Zealand, and over the past few years we've transcended that to shaping choice - so providing smaller packs, reducing the amount of sugar," she said.

"Coca-Cola no sugar is now us, actively encouraging no sugar. So this is us, this is Coca-Cola, actively saying here is a no sugar drink, it tastes pretty much the same, it's your choice."