After years of raising prices, Coca-Cola Amatil has taken the first step towards making its iconic soft drink brands more affordable, launching a 250-millilitre can that will cost no more than $2 in convenience stores, petrol outlets and supermarket fridges.

CCA and its marketing partner, Coca-Cola South Pacific, believe the small cans of Coca-Cola, Sprite and Fanta and will reinvigorate sales and volume growth by appealing to consumers watching their budgets and their waistlines.

Coca-Cola Amatil has moved to make its drinks more affordable, as part of its ongoing battle against Pepsi and other brands. Credit:Bloomberg

"Consumers have been asking for smaller portion sizes and sharper price points and, with the sleek design, we believe this can will deliver against this opportunity as well as build [brand] equity," said CCA Australia managing director Barry O'Connell.

CCA accounts for 60 per cent of the carbonated soft drink market in Australia, but volumes and earnings have been falling over the past two years because its prices are almost 50 per cent higher than those of rival Schweppes.