PALM BEACH, Fla., April 22, 2021 /PRNewswire/ -- The global alcoholic beverages market is projected to see substantial growth for years to come. Most cultures across the globe have traditionally consumed various types of alcoholic beverages; however, local specialty alcoholic beverages account for the majority share. Only a small number have evolved into commodities that are produced commercially on a large scale. On a global level, beer from barley, wine from grapes, and other distilled beverages are sold as commodities. The pricing of these beverages is determined by the costs of production and the duties levied on those costs. The effects of prices as measured with price elasticities differ across countries and in different time periods. A report from Data Bridge Market Research said that the introduction of healthy breweries and spirits is expected to provide the best opportunities for alcoholic beverages market players in the forecast period of 2020- 2027. Another report from Allied Market Research added that the global alcoholic beverages market is expected to reach $1,684 billion by 2025, registering a CAGR of 2.0% through 2025. The Allied report added: "The growth of the global alcoholic beverages market is driven by increase in global young–adult demographic, surge in disposable income, and rise in consumer demand for premium/super premium products. However, high cost of premium/super premium products and escalation of nonalcoholic beverages market, owing to increase in health concerns are expected to restrict the market growth in the near future. Furthermore, recent developments in honey-derived products appear to be a viable alternative to produce innovative alcoholic drinks for the consumers and to drive the future growth of this market." Active tech companies in the markets this week include Versus Systems Inc. (NASDAQ: VS), Constellation Brands, Inc. (NYSE: STZ), Anheuser-Busch InBev SA/NV (NYSE: BUD), Molson Coors Beverage Company (NYSE: TAP), Brown-Forman Corporation (NYSE: BF.B).
Allied continued: "In 2017, the distilled spirits segment accounted for more than one-third of the global market share. In terms of volume, this segment held approximately 28% share in the overall market, attributed to increase in premium/super premium whiskey consumption and the demand shift from beer to distilled spirits such as rum, whiskey, vodka, and others. Thus, this segment is anticipated to provide high stability in terms of demand along with significant return on investment for the stakeholders, owing to its high growth rate and significant revenue contribution. The number of supermarkets is on an increase in almost all major cities, with rapid urbanization in various emerging economies. Moreover, availability of products at low cost and accessibility to a wide variety of alcoholic beverages available in supermarkets fuel the growth of this segment. Furthermore, high visibility and attractive assortment of alcoholic beverages, increase in disposable income of consumers along with changes in preferences toward premium products boost the growth of this distribution segment."
Versus Systems Inc. (NASDAQ: VS) BREAKING NEWS: Versus Systems to Allow Alcohol-Related Advertising Beginning in July - Versus Systems today announced that their proprietary second-screen engagement platform will include alcohol-related products, promotions, and even prizing in some circumstances as part of Versus's "Dynamic Regulatory Compliance" engine beginning in July of this year, aiming to capture a portion of the multibillion-dollar annual alcohol advertising market .
Versus Systems has multiple granted patents around what Versus refers to as Dynamic Regulatory Compliance, which deals with how the Versus ad platform uses geotargeting, geofencing, age-gating, and other techniques to manage legal and regulatory issues for various forms of advertising, rewards, and prizing that can vary state-by-state and country-by-country.
"Alcohol-related advertising is one of the largest and also most closely-watched categories of ads - not only online but also in streaming, OTT, and broadcast media," said Matthew Pierce, founder and CEO of Versus. "Managed effectively, and targeted correctly, this category can help unlock a portion of the over one trillion dollars that is spent on alcohol worldwide each year. Versus's new XEO platform for streaming and live events in the US will soon be able to use programmatic inputs to include guidance obtained from each state's Department of Alcoholic Beverage Control – managing the regulatory issues while also giving fans, audiences, and our partner brands, a great interactive media experience." Read this and more news for Versus Systems at: https://www.financialnewsmedia.com/news-vs/
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Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, in partnership with a number of its iconic beer, wine, and spirits brands, recently announced a collective commitment of $1.75 million to support the National Restaurant Association Educational Foundation (NRAEF) and the launch of their "Restaurants Advance" campaign. The commitment represents a multi-year collaboration with the NRAEF to rebuild the restaurant industry and create opportunities for restaurant workers from all backgrounds.
According to the NRAEF, the restaurant industry finished 2020 nearly 2.5 million jobs below its pre-COVID-19 levels. Constellation's collective contribution – which includes support from the Corona brand family, SVEDKA Vodka, and Meiomi – will go to support the NRAEF's programs dedicated to recruiting employees to help rebuild the restaurant industry's workforce.
Anheuser-Busch InBev SA/NV (NYSE: BUD), the country's leading brewer and home to America's most iconic beverage brands, and Panay Films recently announced the upcoming release of their dynamic new talk show – "Not A Sports Show." Hosted by actor, comedian and writer Lil Rel Howery (Get Out, Judas and the Black Messiah), the show will feature Howery interviewing current and former professional athletes in a six-episode run. Anheuser-Busch partnered with Panay Films to develop and produce the project in association with Stampede Entertainment. Episodes will be available on Ficto, the free video streaming service and interactive short-form content company.
Molson Coors Beverage Company (NYSE: TAP) recently reaffirmed key financial guidance for full year 2021 and provides an update on the impacts to its business resulting from the systems outages caused by a cybersecurity incident previously disclosed on March 11, 2021 as well as the eleven-day closure of the Fort Worth, Texas brewery caused by the winter storms in February 2021.
Molson Coors has made substantial progress in restoring its systems following the recent cybersecurity incident. Globally, all breweries are currently producing and shipping products, and are ramping up to near normal operating levels. Despite this progress led by the significant efforts of the Molson Coors team, along with the support of leading forensic information technology firms and other advisors, the Company has experienced and continues to experience some delays and disruptions in its business, including brewery operations, production and shipments in the U.K., Canada and the U.S. Additionally, the cybersecurity incident was preceded by an unprecedented February winter storm in Texas that forced local government authorities to impose energy restrictions, causing the Fort Worth brewery to be offline for eleven days. Lastly, the ongoing on-trade shutdowns in the U.K. due to the coronavirus pandemic continue to be a challenge. All three of these events will negatively impact first quarter 2021 financial results.
Brown-Forman Corporation (NYSE:BF-B) recently announced financial results for its first quarter of fiscal 2021 with reported net sales down 2% to $753 million (+3% on an underlying basis) compared to the same prior-year period. Further, reported operating income increased 56% to $387 million (+15% on an underlying basis) and diluted earnings per share grew 73% to $0.67.
"I am very pleased with our performance at the start of this fiscal year and thankful to our 4,800 employees worldwide who made these results possible," said Lawson Whiting, President and Chief Executive Officer. He added, "Despite being faced with significant ongoing challenges, our business performed well during the quarter though much uncertainty remains in the current environment. We believe we are well positioned to navigate the headwinds we face today and emerge from the COVID-19 environment in a stronger position."
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