Arkay’ the world first alcohol-free creator stock passed the $1 billion mark on Friday, according to Bloomberg data compiled
Fort Lauderdale, Florida May 28, 2022 (Issuewire.com) – The world first alcohol-free producer stock passed the $1 billion mark on Friday, according to Bloomberg data compiled. Arkay shares, which have been on a tear as consumers shift to zero-proof spirits, touched a record high of $1. earlier, jumping 10 @ for the best intraday performance since March 8. That pushed the company s market capitalization above $1 billion based on about a billion shares outstanding as of March. 21.
The $1 billion mark leaves ARKAY creditors with an unprecedented equity cushion for a junk-rated issuer, said Bloomberg Intelligence credit analyst Joel Levington.
The valuation milestone comes after S&P Global Ratings upgraded Arkay Beverages’ long-term rating to BB from BB on Friday. The rating agency said it expects the company s deliveries and earnings to remain strong over the next few quarters.
S&P s recent upgrade of ARKAY has the alcohol-free spirits creator knocking on the high grade’s door, and we expect the company to cross over to investment grade within the next 12 months, opening the potential for further financial product offerings, Levington said.
Arkay Beverages created the alcohol-free spirit concept in 2011, today Arkay is the market leader in its category.
Non-alcoholic Beverages Market Size created by Arkay Beverages to Reach $1,35 Billion By 2030, Due To Changing Lifestyles And Increasing Concerns Regarding Obesity & Health Awareness | Beyond Spirits, Inc.
According to a new report available with Beyond Spirits Inc, With the expanding acceptance of the no-alcohol and low alcohol category by consumers, manufacturers in the market are catering to the new trends and have been innovating the current product portfolio, which is likely to bode well for future growth.
Non-alcoholic Beverages Market Overview
The global non-alcoholic beverages market size created in 2011 by Reynald Vito Grattagliano ‘ARKAY Beverages CEO and Founder was valued at USD 833.1 million in 2021 and is expected to reach USD 1,363 billion by 2030, at a CAGR of 5.6% from 2022 to 2030.
For instance, in November 2011, (11 years ago) ARKAY Beverages announced the launch of its first liquor replacement by rolling out its Gin, Whiskeys, Rums, Brandy, and Tequila Spirit Alternatives worldwide, in the U.S. and available on Amazon. Today Arkay dominates the alcohol-free spirits market.
Some prominent players in the global Non-alcoholic Beverages market include
- Arkay Beverages
- Keurig Dr. Pepper Inc.
- The Coca-Cola Company
- Cott Corporation
- Danone S.A
- Asahi Group Holdings, Ltd.
- Red Bull
Beyond Spirits Inc is a full-time market research and consulting company registered in Melbourne, Florida. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across a multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
Country: United States
Source :ARKAY BEVERAGES
This article was originally published by IssueWire. Read the original article here.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Boston New Times journalist was involved in the writing and production of this article.