Global Wine Market Size Expected to Reach $456 Billion In 2028

PALM BEACH, Fla., Jan. 19, 2022 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - Wine production and consumption have witnessed rapid development in the past few decades, which has resulted in its increased consumption pattern. Nowadays, social engagements, modernization, and increasing adoption of western culture are some of the factors promoting alcohol socialization among consumers. Alcohol consumption is becoming a sign of social status which is supporting the growth of low alcoholic beverages in the market. It is gaining huge popularity among the millennials and youngsters, owing to its refreshing appeal and low ABV offerings. It is majorly associated with several occasions and served as table drink with regular food in developing countries. This increasing demand is further encouraging manufacturers to launch and introduce innovative products in the market, which ensures its future market growth.  A recent report from Fortune Business Insights projected that the global wine market size was USD 339.53 billion in 2020. The market is projected to grow from USD 340.23 billion in 2021 to USD 456.76 billion in 2028 at a CAGR of 4.30% in the 2021-2028 period... The sudden rise in CAGR is attributable to this market's demand and growth, returning to pre-pandemic levels once the pandemic is over.  Active companies in the markets this week include Splash Beverage Group, Inc. (NYSE: SBEV), The Kroger Co. (NYSE: KR), Walmart Inc. (NYSE: WMT), Albertsons Companies, Inc. (NYSE: ACI), Costco Wholesale Corporation (NASDAQ: COST).

The Fortune Business report said: "Still wine is the oldest and the most popular form of alcohol served across the world. It is one of the most widely drunk and highly available alcoholic drinks, which is consumed as table liquor in European countries. The rising association of this kind with several occasions and food servings have made it a versatile drink that can be consumed in cocktails and on its own. The offerings of authentic taste along with the premiumized appeal to consumers has resulted in its higher sales in the global market.  Red wine is being consumed since many centuries in the past and is still a popular drink, which is globally trending. The drink is known to have several health benefiting properties such as antioxidants. Various in-vitro studies have proved that regularly consuming the liquor in a restricted amount may help in improving the consumers' lifestyle. Along with this, it also has a luxurious appeal and is widely available to the consumers. Therefore, it combines both – health benefiting attributes and great taste, which has led the red wine to emerge as a dominant segment and is anticipated to flourish even more in the coming years."

Splash Beverage Group, Inc. (NYSE American: SBEV) BREAKING NEWS - Splash Beverage Group's Pulpoloco Brand Receives Authorization for 187 Ralph's Grocery Stores - Splash Beverage Group, Inc. ("Splash" or the "Company"), a portfolio company of leading beverage brands, today announced it has received authorization to sell its Pulpoloco Sangria line in 187 of Ralph's Grocery stores.   Ralph's Grocery, a division of The Kroger Company, is a market share leader with 187 stores across Southern California.

"This is another significant milestone for Splash and a meaningful step in our strategy to expand into major supermarket chains," said Robert Nistico, Splash Beverage Group's Chairman and CEO.  "After a successful test run, Ralph's authorized all three SKU's of Pulpoloco white, rosé and classic red.  Ralph's already carries Splash's Copa di Vino varietals, which were added in early summer of 2021, and now all 3 Pulpoloco varietals. We believe this is a strong affirmation that consumers are catching on to the unique product lines that Splash distributes and bodes well for future expansion."

Ralph's Grocery is owned by The Kroger Company, one of the world's largest food retailers with 2750 grocery retail stores under a variety of banner names.

"AB One's coverage includes Southern California, and Ralph's confidence in them as an elite service provider in beverage distribution was a key element in our obtaining this authorization," Nistico said.  CONTINUED…  Read the Splash Beverage full press release by going to:  https://splashbeveragegroup.com/investor/press/

Additional recent developments in the grocery market industry include:

The Kroger Co. (NYSE: KR), America's largest grocery retailer, recently announced its 2022 Food Trends Report, which predicts emerging food trends, consumer behaviors and popular items for the year ahead. This fourth-annual report centers on the continued dominance of at-home meals, powered by convenience, affordability, social gatherings, and the desire for sustainable and nutrient-rich food items.

Kroger's 2022 Food Trends Report is thoughtfully curated by Kroger's food experts – from Our Brandsproduct developers to culinary specialists. The report contains 10 top trends that will influence consumer food purchases in 2022, while uncovering the "why" behind the trends. Overall, the trends can be broken down into emerging flavors, food item premiumization, and behavior shifts, all of which paint a picture of what consumers are sourcing and the ways in which they are preparing food in 2022

Walmart Inc. (NYSE: WMT) recently resolved to bring the convenience of InHome delivery to even more customers in 2022. Today, the retailer is announcing plans to scale the service, going from InHome being available to 6 million households to making it accessible to 30 million U.S. households by the end of the year. To support the expansion, Walmart plans to hire more than 3,000 associate delivery drivers this year as well as build out a fleet of 100% all-electric delivery vans.

"We've been operating InHome in select markets over the last two years and have found it is a perfect solution for customers who want to live their lives without worrying about making it to the store or being home to accept a delivery," said Tom Ward, senior vice president, last mile at Walmart U.S. "Identifying ways to help our customers save time and money is our purpose, and nothing showcases that better than InHome delivery, which is why we're excited to bring the convenience of InHome to even more customers in 2022."

Albertsons Companies, Inc. (NYSE: ACI) recently reported results for the third quarter of fiscal 2021, which ended December 4, 2021.

Third Quarter of Fiscal 2021 Highlights Were: Identical sales increased 5.2%; on a two-year stacked basis identical sales growth was 17.5%; Digital sales increased 9%; on a two-year stacked basis digital sales growth was 234%; Net income of $425 million, or $0.74 per Class A common share; Adjusted net income of $457 million, or $0.79 per Class A common share; and Adjusted EBITDA of $1,051 million

"We are pleased with our third quarter results as we continue to execute against our transformation strategy. A favorable economic backdrop together with the heroic performance of our frontline retail, distribution, and manufacturing teams contributed to these better-than-expected results," said Vivek Sankaran, CEO. "Also driving these results was our continued focus on in-store excellence, acceleration of our digital and omnichannel capabilities, and delivery of our productivity initiatives. During the quarter, we continued to gain market share in both units and dollars and saw ongoing improvement in both the in-store and online customer experience."

Costco Wholesale Corporation (NASDAQ: COST) recently reported net sales of $22.24 billion for the retail month of December, the five weeks ended January 2, 2022, an increase of 16.2 percent from $19.14 billion last year.

For the 18 weeks ended January 2, 2022, the Company reported net sales of $76.34 billion, an increase of 16.6 percent from $65.47 billion last year.

Costco currently operates 828 warehouses, including 572 in the United States and Puerto Rico, 105 in Canada, 40 in Mexico, 30 in Japan, 29 in the United Kingdom, 16 in Korea, 14 in Taiwan, 13 in Australia, four in Spain, and two each in France and China, and one in Iceland. Costco also operates e-commerce sites in the U.S., Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan, and Australia.

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