Global Beverages Market Expected To Reach $1.8 Trillion By 2028
PALM BEACH, Fla, Nov. 3, 2022
PALM BEACH, Fla, Nov. 3, 2022 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - The non-alcoholic beverages market survived a downturn during the pandemic and is projected to continue to substantially grow in the years to come. Carbonated soft drinks, bottled waters, juices & nectars, dairy-based and dairy alternative beverages, RTD tea and coffee, and energy drinks are the different non-alcoholic beverages. The sugar-free category is gaining significant traction among consumers due to rising health concerns and the high prevalence of obesity, diabetes, and heart diseases in various countries across the globe. Moreover, functional drinks and fortified beverages are also witnessing high demand due to the growing focus on health and nutrition. These factors are driving the non-alcoholic beverages market growth. In the pre-pandemic period, the non-alcoholic beverages market was mainly driven by high demand for healthy drinks and on-the-go beverages. However, due to the outbreak of COVID-19 in 2020, many industries faced unprecedented challenges. The food and beverage manufacturers witnessed a slow growth in the initial phase of the pandemic due to the shutdown of manufacturing units and supply chain disruptions. However, a shift in consumer lifestyle, a rise in preference for healthy dietary practices, and an increase in the health-conscious population have substantially promoted the demand for non-alcoholic beverages. The demand for plant-based beverages such as soy, almond, and coconut milk increased two-fold after the pandemic as consumers believe that plant-based beverages offer more nutritional value than conventional ones. According to the Mintel report published in June 2020, 25% of the surveyed consumers in the UK agreed that a vegan diet seemed appealing due to the pandemic. These factors had a positive impact on the non-alcoholic beverages market growth. Active companies in the markets this week include Golden Grail Technology (OTCPK: GOGY), National Beverage Corp. (NASDAQ: FIZZ) Celsius Holdings, Inc. (NASDAQ: CELH), The Coca-Cola Company (NYSE: KO), Keurig Dr Pepper Inc. (NASDAQ: KDP).
A report from The Insight Partners projected that the non-alcoholic beverages market is expected to grow from US$ 1,247.20 billion in 2021 to US$ 1,888.57 billion by 2028. It is estimated to grow at a CAGR of 6.2% from 2022 to 2028. "The health and wellness trends were triggered after the COVID-19 outbreak. Consumers are engaging in various fitness activities such as yoga, jogging, and cycling to stay healthy. This factor is expected to provide the strong potential to the non-alcoholic beverages market, especially in the energy and sports drinks space in the coming years."
Golden Grail Technology (OTCPK: GOGY) BREAKING NEWS: Golden Grail Technology Announcing Appointment of Lindsay Eshelman as COO - Golden Grail Technology www.GoldenGrailBeverages.com is a fast-growing company with a strategic mission to innovate, build and streamline the growth of its beverage portfolio through fiscally responsible investing is pleased to announce that Lindsay Eshelman has been appointed chief operating officer, effective October 18, 2022. Eshelman, a seasoned expert in beverage leadership, is and has been a consultant on the company's leadership team.
As COO, Eshelman will take primary responsibility for accelerating operational performance and the transformation of the company's business model to align with the company ethics of moving towards sustainability and functionality in the beverage sector.
'Lindsay is a true innovator. She has demonstrated the ability to be a forward thinker and operator in beverage and manage sustainable development, foster talented teams, and integrate cost effective production, all while consistently delivering strong results,' said Steven Hoffman, Golden Grail's CEO. 'As COO, Lindsay will work closely on driving operational performance, accelerate the execution of our strategy, and help us gain efficiencies that lead to faster growth.'
'I am excited for this opportunity to build on the incredible momentum that has been started within the Golden Grail. I am looking forward to working towards commercial growth of the portfolio and assets with continued excellence, efficiency and sustainability.' Says Eshelman.
Eshelman has been a leader in CPG for more than 12 years. She has led both marketing and sales for Stoli Vodka and Gruppo Campari, notably driving growth by commercializing sales and marketing efforts across innovation brands. Across all her leadership roles, Eshelman has thrived on discovering and bringing together trends in beverage marketing with the bold thinking required to roll out new products to a global market. CONTINUED… Read these full releases for Golden Grail Technology at: https://www.financialnewsmedia.com/news-gogy/
Additional big performers in the beverage industry include:
The Coca-Cola Company (NYSE: KO) recently reported strong third quarter 2022 results as the company continued to build on the momentum from the first half of the year. "Our strong capabilities and consumer insights continue to help us win in the marketplace," said James Quincey, Chairman and CEO of The Coca-Cola Company. "Our business is resilient amidst a dynamic operating and macroeconomic environment. We are investing in our strong portfolio of brands, which is a cornerstone of our ability to deliver long-term value for our stakeholders." Read full report here
National Beverage Corp. (NASDAQ: FIZZ) recently announced results for the first quarter of its 2023 fiscal year. First Quarter Ended July 30, 2022 Results Were: Net sales increased to $318.1 million; Net income was $35.5 million; Earnings per share was $.38; and Cash grew to $56 million after $30 million of debt repayment.
"A company's principal fiduciary purpose is to not only protect shareholder investment; its ultimate goal is to create long-term enterprise value. Presently, that goal is being compromised by factors never before witnessed.
PepsiCo, Inc., (NASDAQ: PEP) and Celsius Holdings, Inc., (NASDAQ: CELH), maker of a leading global fitness energy drink, CELSIUS®, recently announced a definitive agreement forging a long-term strategic distribution arrangement. The distribution agreement initially transitions Celsius' current U.S. distribution to PepsiCo's best-in-class capabilities. As part of the transaction, PepsiCo will also make an investment in Celsius in support of its growth agenda and will nominate a director to serve on Celsius' Board of Directors.
The long-term U.S. distribution agreement is effective on August 1, 2022 and, subject to certain exceptions, includes retail and food service channels. PepsiCo will also become the preferred distribution partner globally for Celsius.
Keurig Dr Pepper Inc. (NASDAQ: KDP) recently reported strong results for the third quarter ended September 30, 2022 and reaffirmed its full-year guidance for constant currency net sales growth in the low-double-digit range and Adjusted EPS growth in the mid-single-digit range.
Commenting on the announcement, CEO Ozan Dokmecioglu stated, "The third quarter was another strong one for KDP, as we again demonstrated the advantages of our all-weather business model, which has proven adept at performing well in an evolving macro environment to meet the needs of consumers. While the macro landscape remains challenging, our cold beverages portfolio continues to perform exceptionally well, with strong in-market execution and increased marketing investment driving consistent growth in LRB market share. At the same time, our coffee business has steadily recovered from the significant supply chain disruption earlier this year and is poised to deliver strong sales and earnings growth in the fourth quarter."
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