New York, NY, Oct. 26, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Kefir Market By Type (Organic Kefir, Greek Kefir, Frozen Kefir, and Low Fat Kefir), By Application (Dips & Dressings, Cosmetics, Drinks & Smoothies, Dairy Products, and Dietary Supplements), and By Flavor (Regular and Flavored): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, the global kefir market was valued at around USD 1.57 billion in 2017 and is expected to reach approximately USD 2.42 billion by 2024, growing at a CAGR of around 6.4% between 2018 and 2024.
Kefir is creamy and cultured food product similar to a drinking-type yogurt. Naturally present yeast and bacteria in kefir, symbiotically give superior health benefits through regular consumption. Kefir can be produced from different types of milk, such as cow milk, coconut milk, soy or rice milk, and goat or sheep milk. Traditionally, kefir is known as fermented milk produced by adding grains of kefir to milk. Within 24 hours, microorganisms present in the kefir grain multiply and performs the fermentation the milk sugar. Kefir originated from the parts of Southeast Asia and Eastern Europe.
Browse through 184 Tables & 28 Figures spread over 110 Pages and in-depth TOC on “Global Kefir Market Size & Share 2017: By Types, Industry Trends, Applications, Segments, Analysis and Forecast, 2024”.
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The global kefir market is in a growth phase of the product lifecycle and is anticipated to register a considerable CAGR within the period of the forecast. The growth of the kefir market is largely due to the increasing consumer spending on drinks, beverages, and various dairy products. Various kinds of health benefits and medicinal properties associated with kefir are expected to enhance the demand for the kefir in different application segments in the near future. Furthermore, the increasing number of retail food services and rapidly evolving dairy & beverage industry throughout the developed and developing countries is projected to boost the expansion of the market for kefir within the forecast period.
Based on the type of product, the market for kefir is classified as organic kefir, Greek kefir, frozen kefir, and low-fat kefir. Organic kefir is gaining the popularity across different regions and the segment accounted for a major market share in terms of revenue in 2017. The increasing preference for organic food and beverages coupled with rising health-conscious among the global population is expected to fuel the growth of the organic kefir segment in the years to come. The second important segment is the Greek kefir. The other segments such as low-fat kefir and frozen kefir are expected to grow at a considerable CAGR over the forecast period.
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On the basis of application, the market for kefir is classified into dips & dressings, cosmetics, drinks & smoothies, dairy products, and dietary supplements. A dietary supplement is a rapidly expanding segment and it accounted for a major market share in 2017, in terms of revenue. The dairy product is the second important segment and is expected to exhibit promising CAGR over the period of the forecast.
Based on the flavor, the market for kefir is classified into regular and flavored. Regular kefir is widely preferred by consumers, owing to its health benefits and nutritional importance. The segment registered major market share in terms of revenue in 2017. Flavored kefir is anticipated to register considerable growth over the period of forecast. The growth is attributed to changing consumer preference and high demand for diverse dairy products.
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The Europe kefir market is anticipated to dominate the global kefir market over the forecast period. The market in the region is largely driven by the high consumption of cultured and fermented food. The high consumer preference for dietary supplements in order to improve digestive health, bone health, and general well-being & immunity is expected to enhance the demand for kefir in dietary supplements manufacturing. Italy, Germany, Russia, and the UK are the major countries contributing to the promising growth of the kefir market in Europe. Moreover, the high per capita expenditure on dairy products in Western Europe and increased focus of dairy companies on developing value-added dairy products is estimated to boost the growth of the kefir market in Europe within the period of the forecast.
The market for kefir in North America is estimated to register a considerable market share within the forecast period. The increasing adoption of healthy lifestyles among working population coupled with rising consumption of nutritional and medicinal supplements is estimated to drive the growth of the market for kefir in North America. Moreover, the dairy industry in the U.S. is focusing on huge investments in order to expand the range of dairy products, which will fulfill the evolving consumer needs. This, in turn, is expected to enhance the growth of the kefir market in North America over the period of the forecast.
Browse the full "Kefir Market By Type (Organic Kefir, Greek Kefir, Frozen Kefir, and Low Fat Kefir), By Application (Dips & Dressings, Cosmetics, Drinks & Smoothies, Dairy Products, and Dietary Supplements), and By Flavor (Regular and Flavored): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/kefir-market
In the Asia Pacific, the market for kefir is exhibiting stable growth. There is a lack of awareness among consumers about the health benefits of kefir in the Asia Pacific. The organized retail sector in urban and rural areas across the region is estimated to significantly contribute towards the increased distribution of kefir. Changing food habits due to the influence of Western culture may contribute substantially towards the growth of the kefir market in the Asia Pacific in the forecast period. Furthermore, the increasing preference of consumers towards fast food consumption, increasing urbanization, and rising disposable incomes are estimated to enhance the growth of the kefir market within the period of the forecast.
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Some of the major companies operating in the kefir market are competing for the major market share. These major companies are focusing on business expansion through new product developments and a wide & diverse product portfolio. Some of the key companies included in the global kefir market report are Hain Celestial, Lifeway Foods Inc., Kerry Group, Koninklijke DSM N.V., E.l du Pont de Nemours & Company, Archer Daniels Midland, Nestle S.A., Danlac Canada INC., Döhler Group, and Danone.
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This report segments the global kefir market as follows:
Global Kefir Market: Type Segment Analysis
- Organic Kefir
- Greek Kefir
- Frozen Kefir
- Low Fat Kefir
Global Kefir Market: Application Segment Analysis
- Dips & Dressings
- Cosmetics
- Drinks & Smoothies
- Dairy Products
- Dietary Supplements
Global Kefir Market: Flavor Segment Analysis
- Regular
- Flavored
Global Kefir Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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