Global Beverages Market Expected To Reach $1.8 Trillion By 2028

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.