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Kefir Market Size to Hit USD 1.23 Billion by 2027

The global kefir market size is expected to experience exponential growth by reaching USD 1.23 billion by 2027 while exhibiting a CAGR of 5.4% between 2020 and 2027. Fortune Business Insights, in its latest report, titled “Kefir Market, 2020-2027.” Factors such as the rising awareness about digestive health and its role in boosting immunity favor the demand for the product during the forecast period. For instance, a report from the International Food Information Council states that around 23% of the population look for food and beverages that aid them in good health. The hectic and busy schedule of people has augmented gastric and obesity problems. Thus, the consumption of a probiotic that maintains gut health has increased globally.

COVID-19 Impact

The negative effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss. This has considerably affected the beverage industry worldwide. For instance, as per reports from Coca-Cola, its sales went down by 25% around the globe. In addition, the supply chain of raw materials was hampered. This affected the production of fermented drinks such as tibicos. However, increased awareness regarding health in these pandemic times has reestablished the market growth.

Key Market Segmentation:

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

Based on product type, the dairy-based segment is expected to hold a major share. This is attributable to the increased demand for fermented milk-based products
By its nature, the market is segmented into organic and conventional. By its category, it is divided into flavored and non-flavored. The market is segmented into supermarket/hypermarket, convenience store, specialty store, and online retail based on its distribution. Lastly, based on region, the market is bifurcated into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

What does the Report Include?

The global market for kefir reports provides in-depth analysis and focuses on key aspects such as seaplanes product type, key players, applications, engine type, and seating capacity. Furthermore, the report offers insights on market trends, competitive landscape, competition, product pricing, market status, and highlights key industry developments by adopting several research methodologies. It also includes several direct and indirect factors contributing to the market's growth over recent years.

Driving Factors

Rising Plant-Based Fermented Beverages to Propel Market Growth

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

Regional Insights

Shift towards Veganism to Ensure Dominance of Europe

Europe is expected to hold the highest position in the market during the forecast period. This is ascribable to the significant shift of people in this region toward a veganism diet. Moreover, due to hectic lifestyles and busy schedules, demand for quick and 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 in 2019.
Asia Pacific is anticipated to hold a significant share in the market due to millennials developing an interest in varied varieties of beverages. In developing economies such as China, India, and Indonesia, millennials are highly inclined towards fermented beverages.

Competitive Landscape

Key Players to Focus on Establishing Partnerships to Intensify Industry Competition

The market is consolidated by the presence of major companies that are striving to maintain their position by focusing on innovation and expansion. For instance, In March 2019, Lifeway Food launched vegan kefir. This is available in different flavors and is soy and gluten-free. Moreover, other key players such as Nestle, Danone are adopting proactive strategies such as mergers, collaborations, partnerships, and facility expansion to favor the market's growth in the forthcoming years

Browse Detailed Summary of Research Report with TOC:
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Transportation & Warehousing
The seven areas that the Saudi Logistics Academy is focusing on incorporate air transport, stockroom the board, online business, land transport, delivery and commodity, worldwide exchange, sea and ports transport, and postal coordinations administrations. Saudi Arabia's bureau has likewise supported the production of another coordinations body, which will be set up inside the Ministry of Transport. The choice was taken during a virtual meeting led by King Salman, king of Saudi Arabia. Under Vision 2030, another vehicle and coordinations system was uncovered recently. It intends to set up Saudi Arabia as the main transportation and coordinations center point in the Middle East and interface mainlands, including Africa, Asia, and Europe. By 2030, the Kingdom will twofold its yearly air freight ability to 4.5 million tons. Rail tracks will likewise be expanded and the ports of the nation are being connected to the Red Sea. The Kingdom has effectively dispatched five new delivery lines for territorial business sectors, the Indian subcontinent, and North Europe. The arrangement additionally incorporates building up another carrier and air terminal in Saudi Arabia to expand the quantity of objections from 39 to 250 and turn into the fifth biggest aircraft on the planet. Shipping companies The current carrier, Saudia, will move explorers to Mecca and Medina, and the new aircraft will be utilized for different voyagers, including finance managers and vacationers. With these means, the Kingdom plans to get a main ten positioning on the worldwide Logistics Performance Index. One more evenhanded of Vision 2030 is to differentiate Saudi Arabia's economy and increment non-oil incomes. The new procedure is relied upon to help the commitment of the vehicle and coordinations area to the GDP from six to 10%, which implies SAR 45 billion ($12 billion) every year. The Saudi Crown Prince has reported designs to make a venture of 550 billion riyals ($147 billion) in the area, which will assume a vital part in the change of the Kingdom. With the as of late dispatched public system for transport and coordinations, Crown Prince Mohammed receptacle Salman plans to change Saudi Arabia into a transportation and coordinations center that will interface mainlands. A few stages are being taken as a component of the endeavors to make Saudi the preeminent objective in the district. Here are a portion of the vital declarations about the new vehicle and coordinations plan. Dispatching another aircraft The Kingdom as of now has a public transporter called Saudia, however under the new procedure, one more carrier will be dispatched and extended to support more courses and nations. The arrangement likewise remembers the development of another air terminal for Riyadh. While Qatar and the UAE have the main mover advantage and rivaling them is probably going to be testing, endeavors are being made to make the new carrier a considerable provincial administrator.