Global Beverage Industry Expected to Continue to Expand and Possibly Reach $1.961 Trillion In 2024

Palm Beach, FL – February 16, 2022 – News Commentary – The global beverage industry gained momentum during the pandemic and is projected to continue post-pandemic. A recent report from industry insider, PipeCandy projected that the global beverage industry is valued at USD 1813 billion for 2022 and the industry is growing at a CAGR of 4%. It’s value estimations are USD 1885 billion in the year 2023. The beverage industry will further expand and be valued at USD 1961.24 billion in 2024.”  It said that: “High disposable income, rapid urbanization, and changing lifestyles are the major factors that contribute to the growth of the global beverage industry. The beverage industry can further be classified into non-alcoholic and alcoholic categories. The non-alcoholic beverage market includes soft drinks(soda), fruit juices, syrup, caffeinated drinks, sports drinks, coffee, and tea. While the alcoholic beverage market has categories such as brewing, distilled spirits, and wines.  The global non-alcoholic beverage market size is valued at USD 1337 billion in 2022. The market is anticipated to grow at an estimated CAGR of 5.5%.  It’s value estimations are USD 1885 billion in 2023 and will be valued at USD 1488 billion in 2024.”   Active companies in the markets this week include Splash Beverage Group, Inc. (NYSE: SBEV), The Kroger Co. (NYSE: KR), Walmart Inc. (NYSE: WMT), PepsiCo, Inc. (NASDAQ: PEP), Albertsons Companies (NYSE: ACI).


The report added: “Carbonated soft drinks (CSD), a popular segment in this market, have been shrinking in size and revenue in recent years. While the market size for functional beverages is expected to grow and expand in the upcoming years, this shrink in the market share soft drink category is compensated by the rise in the market share for the subcategories such as fresh juices, enhanced water, RTD coffee, probiotic drinks, etc. In addition, the increase in obesity rates and the impact of a sedentary lifestyle is making young Americans migrate from CSDs to healthier alternatives.”


Splash Beverage Group, Inc. (NYSE American: SBEV) BREAKING NEWS:  Splash Beverage Group Inc. Secures Distribution for SALT Naturally Flavored Tequila with Gulf Distributing of Alabama  – Splash Beverage Group, Inc. (“Splash” or the “Company”), a holding company of leading portfolio of beverage brands, today announced that it has secured distribution through  Gulf Distributing of Alabama for the Company’s SALT Naturally Flavored Tequila for the state of Alabama, and participating military bases.


Gulf Distributing of Alabama is a division of Gulf Distributing Holdings L.L.C. (GDH, LLC) which manages and operates 7 individual beverage distributors that encompass central and southern Alabama and markets in Mississippi. GDH, LLC represents over 100 suppliers and services over 10,000 retail accounts in its assigned territories. GDH, LLC is one of the most established distributors in the Southeastern United States and has been in business since 1933.

Splash Beverage CEO Robert Nistico states, “We have a long-standing relationship with Gulf Distribution, and we are extremely excited to be working with their team.  Our brand, SALT Naturally Flavored Tequila, joins their blue-chip portfolio of beverages, including Coors, Heineken, Corona, Red Bull, Essentia Water, 7-Up and Snapple, and TapouT Performance Beverage in Alabama.”   CONTINUED…  Read the Splash Beverage full press release by going to:


Additional recent developments in the markets this week include:


The Kroger Co. (NYSE: KR) recently announced it will offer more Americans delivery through the addition of a spoke facility in Louisville, Kentucky powered by the Ocado Group and combining vertical integration, machine learning, and robotics to provide an affordable, friendly, and fast fresh food delivery service as part of the company’s seamless ecosystem.


“We’re proud to expand the Kroger fulfillment network to Louisville,” said Gabriel Arreaga, Kroger’s senior vice president and chief supply chain officer. “The new service is an innovative addition to the expanding digital shopping experience available to Kroger customers. The network’s delivery spoke facility will provide unmatched customer service and improve access to fresh food in areas eager for the variety and value offered by Kroger direct to their homes.”


Walmart Inc. (NYSE: WMT) recently announced it will hold a live conference call with the Investment Community at 7 a.m. CST on Thursday, Feb. 17, 2022, to discuss the company’s fourth quarter earnings results for fiscal year 2022. Doug McMillon, president and chief executive officer, and Brett Biggs, executive vice president and chief financial officer, will host the call to discuss the results and answer questions.


The event will be webcast live and accessible by logging onto and selecting the Fourth Quarter Earnings Release event. The webcast will be archived and available beginning at approximately noon CST on Feb. 17.  The company will release its fourth quarter earnings results and related materials at 6 a.m. CST on Feb. 17.


The Board of Directors of PepsiCo, Inc. (NASDAQ: PEP) recently declared a quarterly dividend of $1.075 per share of PepsiCo common stock, a 5 percent increase versus the comparable year-earlier period. Today’s action is consistent with PepsiCo’s previously announced increase in its annualized dividend to $4.30 per share from $4.09 per share, which began with the June 2021 payment. This dividend is payable on March 31, 2022 to shareholders of record at the close of business on March 4, 2022. PepsiCo has paid consecutive quarterly cash dividends since 1965, and 2021 marked the company’s 49th consecutive annual dividend increase.


PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated $70 billion in net revenue in 2020, driven by a complementary beverage and convenient foods portfolio that includes Lays, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker, and SodaStream. PepsiCo’s product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales.


Albertsons Companies (NYSE: ACI) recently announced that it will enhance its fresh offering with Afresh Technologies’ AI-powered predictive ordering and inventory solutions to reduce waste and offer the freshest product for customers. Afresh will help Albertsons Cos.’ optimize fresh forecasting, inventory, ordering, merchandising and operations.


Afresh Technologies enables Albertsons Cos. to deploy a state-of-the-art AI technology platform in all its stores to further differentiate its fresh offering to customers while helping to reduce food waste, ultimately reducing greenhouse gas (GHG) emissions and saving water.


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