SAB communications manager Michael Farr said the bottles, which would be introduced in three of the company’s core brands, would provide value for money at between R4 and R4,30 a serving.
The non-returnable 340ml, which Farr said offers "only a few sips more", sells for at least R5 and there is no deposit.
He said the new 330ml bottle would have a "far greater impact on reducing litter".
Returnable bottles can be used 20 times before they are discarded for being "too scuffed".
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"Given that a sizeable proportion of South African households are without formal refuse collection, consumables that allow a package return are particularly important".
Farr said SAB’s consumer research showed there was a demand for "value proposition" bottles.
The larger returnable 660ml bottle was introduced last year for two SAB brands. "People attracted to that would also see the value in a returnable 330ml bottle," said Farr.
The new bottles will be available in Johannesburg at the beginning of August and in Cape Town in mid-September.
Farr said SAB would continue to produce the 340ml non-returnable bottle.
He said the 340ml bottle was a "South African standard" and that the slim, more elegant 330ml was popular internationally.