Newark, Sept. 06, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global kefir market is expected to grow from USD 1.46 billion in 2021 to USD 2.45 billion by 2030, at a CAGR of 5.9% during the forecast period 2022-2030.
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The increased preference for healthy drinks and snacks is anticipated to expand the kefir industry demand during the projection period. Moreover, the availability of kefir products at affordable prices, the rise in the population of lactose intolerant people, and a strong web and distribution channel with retail stores are also helping to propel market growth. However, the lack of adequate awareness about the health advantages of kefir is restraining market growth. Furthermore, the advances in microbiological approaches to consider the benefits of kefir are opportunities for market growth.
Competitive Strategy
To enhance their market position in the global kefir market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• For example, in May 2020, Biotiful Dairy Company expanded its kefir liquid portfolio by adding Kefir Blackcurrant & Kefir Mango flavors. The firm’s cultured milk drinks are made by fermenting milk with live kefir grains, that are then infused with fruit.
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Market Growth & Trends
The growth of the kefir market is driven by a large number of manufacturers as well as increasing awareness about the product's health benefits. Moreover, the growing demand for probiotics drinks is the market growth trend. Further, probiotic drinks are generally dairy-based drinks with a milky texture. They are consumed to help digestion. In addition, drinks rich in probiotics are prepared mainly by fermenting milk or plants. These drinks contain some bacterial strains, like the lactobacillus case. Customers are increasingly getting aware of the product and comprehending its importance for their gut wellness. This factor is also supporting to boost the market growth.. Further, with rising health awareness among consumers, especially young consumers, the growing demand for `functional beverages worldwide to improve digestive health and healthy drinks is surging among customers suffering from gastrointestinal conditions, such as constipation. All these factors are helping to propel market growth.
Key Findings:
• In 2021, the flavored kefir segment dominated the market with the largest market share of 57.27% and market revenue of 0.83 billion.
The category segment is divided into non-flavored kefir and flavored kefir. In 2021, the flavored kefir segment dominated the market with the largest market share of 57.27% and market revenue of 0.83 billion. This growth is attributed to the growing adoption of veganism.
• In 2021, the organic segment dominated the market with the largest market share of 58.11% and market revenue of 0.84 billion.
The form segment is divided into organic and conventional. In 2021, the organic segment dominated the market with the largest market share of 58.11% and market revenue of 0.84 billion. This growth is attributed to the increasing preference for organic products.
• In 2021, the animal milk segment dominated the market with the largest market share of 40.13% and market revenue of 0.58 billion.
The source segment is divided into soy milk, animal milk, and coconut milk. In 2021, the animal milk segment dominated the market with the largest market share of 40.13% and market revenue of 0.58 billion. This growth is attributed to the various health advantages associated with milk-based kefir.
• In 2021, the online stores segment dominated the market with the largest market share of 27.15% and market revenue of 0.39 billion.
The distribution channel segment is divided into online stores, specialist stores, convenience stores, supermarkets/hypermarkets, and others. In 2021, the online stores segment dominated the market with the largest market share of 27.15% and market revenue of 0.39 billion. This growth is attributed to the increasing omnichannel business models.
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Regional Segment Analysis of the Kefir Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The Europe region occurred as the largest market for the global kefir industry, with a market share of 43.47% and a market value of around 0.63 billion in 2021. Europe dominates the kefir market due to the increasing application of flavored kefir in pharmaceutical formulations. Moreover, the rising number of obese and gastric patients and the innovation in milk products, like low-fat and no-sugar, are also helping drive the region's market growth. Further, the Asia-Pacific region is expected to show the fastest CAGR of 7.05% over the projection period. This growth is attributed to the changing consumption pattern of the populace. In addition, the growing awareness about the advantages of kefir, like anti-allergic properties, anti-carcinogenic properties, and others, propels market growth in this region.
Key players operating in the global kefir market are:
• Biotiful Dairy Ltd
• Bakoma Sp. z o. o.
• Danone S.A.
• Best of Farms LLC
• Krasnystaw OSM
• Hain Celestial
• Lifeway Foods, Inc.
• Les produits de marque Liberté inc.
• Valio
• Nestle S.A.
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global kefir market based on below mentioned segments:
Global Kefir Market by Category:
• Non-Flavored Kefir
• Flavored Kefir
Global Kefir Market by Form:
• Organic
• Conventional
Global Kefir Market by Source:
• Soy Milk
• Animal Milk
• Coconut Milk
Global Kefir Market by Distribution Channel:
• Online Stores
• Specialist Stores
• Convenience Stores
• Supermarket/Hypermarkets
• Others
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About the report:
The global kefir market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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