Market Overview:
The global kefir market size was valued at USD 1.23 billion in 2019 and is projected to reach USD 2.40 billion by 2032, exhibiting a CAGR of 5.39% during the forecast period based on our analysis in the existing report.
The surge can be credited to the escalating popularity of probiotic beverages and foods. This is further supplemented by the soaring awareness regarding digestive health among manufacturers for the development of novel probiotic beverages.
Fortune Business Insights™ cites this information in its research report, titled “Kefir Market, 2020-2032”.
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Segments:
Dairy Segment to Register Substantial Surge Owing to Escalating Demand for Dairy Nutrients
Based on product type, the dairy-based segment is anticipated to record lucrative growth through the estimated period. The rise can be credited to the escalating demand for dairy nutrients such as milk proteins. On the basis of region, the market is subdivided into Europe, North America, Asia Pacific, the Middle East & Africa, and South America.
Organic Segment to Record Appreciable Expansion Due to Rising Demand for Organic Dairy Products
Based on nature, the organic segment is expected to register commendable expansion over the forecast period. The surge can be attributed to the soaring popularity of organic beverages and food. Besides, organic milk has secured a mainstream place in retail aisles. The growing demand for organic milk is set to drive segmental expansion over the forthcoming years.
Flavored Segment to Exhibit Notable Surge Driven by Surging Demand for Flavored Drinks
The flavored segment is estimated to exhibit remarkable growth through the forecast period. The rise can be credited to the escalating popularity of flavored beverages and the surging demand for flavored drinks. The segmental growth can be further attributed to the escalated utilization of natural flavors such as flowers, vegetables, and fruits.
Supermarkets/Hypermarkets Segment to Record Commendable Growth Due to Rising Technological Advancements
The supermarkets/hypermarkets segment is anticipated to record appreciable growth through the forthcoming years. The rise can be attributed to an upsurge in the number of investors capitalizing on buyer demand for comfort to provide easy shopping experience. Additional factors favoring the segmental growth include the surging adoption of technological equipment.
Report Coverage:
The report provides a comprehensive coverage of the significant aspects that are expected to drive product demand over the coming years. It further gives an insight into the prominent factors favoring industry expansion through the forecast period. These findings have been provided after in-depth research and data collation from credible sources.
Source: https://www.fortunebusinessinsights.com/kefir-market-102463
Drivers and Restraints:
Market Value to Rise Driven by Soaring Popularity of Functional Beverages
Kefir market growth can be credited to the surging popularity of functional beverages. The industry expansion is being propelled by the escalating demand for nutrient-enriched beverages for decreasing the risk of certain health conditions.
However, the industry expansion is likely to be hindered by the rising incorporation of lactic acid yeast or bacteria. The uncontrollable surge of these bacteria brings about a reduction in the sensory parameters of kefir for reducing its palatability.
Regional Insights:
Europe to Emerge Prominent Owing to Escalated Awareness Regarding Digestive Health
Europe kefir market share is estimated to register substantial expansion over the forecast period. The rise is being impelled by the soaring awareness regarding digestive health among consumers. This is further supplemented by the growing demand for probiotic food and the mounting popularity of vegan diets.
The region of North America is expected to record commendable growth driven by the increasing popularity of nutritional and fermented beverages. Additional factors favoring the regional growth comprise escalating investments in new product developments and research activities.
Competitive Landscape:
Industry Players Enter Partnership Agreements to Consolidate Market Position
Prominent kefir companies are focused on a series of strategic initiatives such as mergers, partnerships, collaborations, and the formation of alliances for strengthening their industry position. Besides, some industry players are entering collaborations and partnership agreements for impelling market growth through the forthcoming years.
Key Industry Development:
July 2021 – Lifeway Foods, Inc., announced the first expansion of the brand in the French market for kefir distribution.
List of Key Players Mentioned in the Report:
Lifeway Foods, Inc. (Illinois, U.S.)
Nestle S.A. (Vevey, Switzerland)
Danone S.A. (Paris, France)
The Hain Celestial Group, Inc. (New York, U.S.)
Biotiful Dairy Limited (London, England)
Green Valley Creamery (California, U.S.)
Fresh Made Dairy (Pennsylvania, U.S.)
Maple Hill Creamery, LLC (New York, U.S.)
Emmi AG (Lucerne, Switzerland)
The Icelandic Milk and Skyr Corp (New York, U.S.)