Traditional cola drinks are on the way out. Flavored carbonated soft drinks, such as Mountain Dew Voltage and Sierra Mist Cranberry Splash, are the new darlings in the beverage business.

In fact, flavored carbonates are expected to outsell colas in the U.S. by 2015, a PepsiCo (PEP) executive said at a recent conference, according to Food Navigator.

Growth in this category is being led by Hispanic consumers, Al Carey, the CEO of PepsiCo Americas Beverages, said at the conference. In the next decade, Hispanics will drive 60% of the growth in the "liquid refreshment beverage" business.

Older consumers in general are choosing more teas and coffees for a caffeine burst instead of trendy energy drinks with ingredients they may not like, Carey added.

Pepsi and Coca-Cola (KO) have seen the trend coming for years and have rushed to debut new choices that are a far cry from traditional colas. Coca-Cola has begun selling cans of illy issimo coffee with no sugar, no milk and only 15 calories per can. The company has also launched Minute Maid Fruit Punch and Strawberry Passion.

Pepsi is introducing a salty watermelon flavor in Japan and in the U.S. has its Mountain Dew, Gatorade, Izze and Naked Juice lines.

Colas have come under fire from health advocates. One 2007 study found that while all carbonated beverages have been linked with diabetes and hypertension, colas in particular contain phosphoric acid and may be more associated with kidney disease.

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