Kefir market is growing at a CAGR of 5.8% during the forecast period (2019-2024).
- Rising health consciousness and increasing purchasing power have boosted the purchase of health-benefitting foods including kefir in emerging economies like Asia-Pacific and Latin America.
- Also, the benefits of kefir for lactose-intolerant people have further led to its increased consumption among individuals suffering from lactose intolerance.
Scope of the Report
Global Kefir market is segmented based on the type, distribution channel and geography. By type, Kefir market is segmented into Milk, water and other kefirs. Where milk kefir is he most popular and most produced type of kefir. The others segment include coconut milk, coconut water and other types of kefir. By the distribution channels involved, it is segmented into hyper/supermarket, convenience stores, online store and others. By geography, the market is analyzed in the major regions like North America, Europe, The Asia-Pacific, South America and Middle East and Africa. The consumption rates, the rising trends and the major players in the market are discussed.
Key Market Trends
Increasing popularity of probiotics in the United States
The United States is the largest market in North America, wherein there is a significant shift in consumer preferences, especially among high-income consumers. Rising health concerns across the region coupled with the efficacy of probiotics in addressing health concerns are expected to be a major driving factor for the overall probiotics market growth. Increasing disposable income, broadening of probiotics portfolio, and increasing accessibility to the products is also expected to benefit the industry demand for yogurt and kefir.
Europe Witnessed Highest Revenues
Europe is the major contributor to the global kefir market in terms of revenue. Kefir is quite popular in eastern European countries, where it is used to help balance digestive systems and irritable bowel symptoms. The increasing popularity for kefir products and their nutritional and health benefits among consumers in the region. For example, in Germany, people are increasingly consuming kefir for its additional health benefits. Moreover, the increased awareness of the products in the region is further driving the market growth.
Lifeway Foods, Inc., Hain Celestial, Nestle, and Danone are some of the companies leading the kefir market. The players are focusing on innovative products, new products launches, quality processing, acquisition, and retention of the consumer base. Industry players are investing heavily in R&D activities to come up with probiotic products which can cater to the distinct needs of consumers. Major industry participants are also adopting strategies such as the introduction of their brands in untapped economies to gain market dominance.
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