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Kefir Market Size to Hit USD 1.23 Billion by 2027
Kefir Market Size to Hit USD 1.23 Billion by 2027
The global kefir market size isexpected to experience exponential growth by reaching USD 1.23 billion by 2027while exhibiting a CAGR of 5.4% between 2020 and 2027.

The global kefir market size isexpected to experience exponential growth by reaching USD 1.23 billion by 2027while exhibiting a CAGR of 5.4% between 2020 and 2027. Fortune BusinessInsights, in its latest report, titled “Kefir Market, 2020-2027.” Factorssuch as the rising awareness about digestive health and its role in boostingimmunity favor the demand for the product during the forecast period. Forinstance, a report from the International Food Information Council states thataround 23% of the population look for food and beverages that aid them in goodhealth. The hectic and busy schedule of people has augmented gastric andobesity problems. Thus, the consumption of a probiotic that maintains guthealth has increased globally.

COVID-19 Impact

The negativeeffect of the global pandemic, COVID-19, has been felt across several economiesfacing unprecedented loss. This has considerably affected the beverage industryworldwide. For instance, as per reports from Coca-Cola, its sales went down by25% around the globe. In addition, the supply chain of raw materials washampered. This affected the production of fermented drinks such as tibicos.However, increased awareness regarding health in these pandemic times hasreestablished the market growth.

List of KeyPlayers Profiled in the Global Kefir Market are;

  • Lifeway Foods, Inc.
  • Nestle S.A.
  • Danone S.A.
  • The Hain Celestial Group, Inc.
  • Biotiful Dairy Limited
  • Green Valley Creamery
  • Fresh Made Dairy
  • Maple Hill Creamery, LLC
  • Emmi AG
  • The Icelandic Milk and Skyr Corp

Key MarketSegmentation:

On the basis ofthe product type, the market is bifurcated into dairy-based and non-dairy.

Based on producttype, the dairy-based segment is expected to hold a major share. This is attributableto the increased demand for fermented milk-based products

By its nature, themarket is segmented into organic and conventional. By its category, it isdivided into flavored and non-flavored. The market is segmented intosupermarket/hypermarket, convenience store, specialty store, and online retailbased on its distribution. Lastly, based on region, the market is bifurcatedinto North America, Europe, Asia-Pacific, South America, and the Middle East& Africa.

What does theReport Include?

The global marketfor kefir reports provides in-depth analysis and focuses on key aspects such asseaplanes product type, key players, applications, engine type, and seatingcapacity. Furthermore, the report offers insights on market trends, competitivelandscape, competition, product pricing, market status, and highlights keyindustry developments by adopting several research methodologies. It alsoincludes several direct and indirect factors contributing to the market'sgrowth over recent years.

Driving Factors

Rising Plant-BasedFermented Beverages to Propel Market Growth

The rising demandfor quick, nutritious beverages is boosting the kefir market growth. Moreover,these fermented drinks are available in various flavors and forms. People whoare lactose intolerant can opt for water-based fermented drinks such as tibicosand plant-based kefir such as cashew, coconut, and almonds. In November 2019, astudy from DuPont Health and Nutrition suggested that around 65% of thepopulation globally are inclined toward plant-based food and beverages.

Regional Insights

Shift towardsVeganism to Ensure Dominance of Europe

Europe is expectedto hold the highest position in the market during the forecast period. This isascribable to the significant shift of people in this region toward a veganismdiet. Moreover, due to hectic lifestyles and busy schedules, demand for quickand healthy nutritious beverages boosts the kefir market share in this region.The market in Europe stood at USD 609.66 billion in 2018 and 654.78 billion in2019.

Asia Pacific isanticipated to hold a significant share in the market due to millennialsdeveloping an interest in varied varieties of beverages.  In developingeconomies such as China, India, and Indonesia, millennials are highly inclinedtowards fermented beverages.

CompetitiveLandscape

Key Players toFocus on Establishing Partnerships to Intensify Industry Competition

The market isconsolidated by the presence of major companies that are striving to maintaintheir position by focusing on innovation and expansion. For instance, In March2019, Lifeway Food launched vegan kefir. This is available in different flavorsand is soy and gluten-free. Moreover, other key players such as Nestle, Danoneare adopting proactive strategies such as mergers, collaborations,partnerships, and facility expansion to favor the market's growth in theforthcoming years.

Browse DetailedSummary of Research Report with TOC:

https://www.fortunebusinessinsights.com/kefir-market-102463