Kefir Market Scenario
Kefir is a fermented drink derived from milk or water. Kefir contains a high amount of vitamins and minerals and is one of the key sources of protein. It is a rich source of probiotics content, calcium, and vitamin K, which helps to improve the digestive process in humans. Kefir has comparatively less lactose comparing to other natural dairy products; thus, it has gained attention from health-conscious consumers. Rising inclination toward healthy food products is boosting the global kefir market. Thanks to this factor, the global market for kefir is estimated to reach a valuation of USD 2.89 billion by 2024 by expanding at a CAGR of 6.07% during the forecast period from 2019 to 2024.
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Changing eating habits and inclination toward healthy food products is likely to favor the growth of the global kefir market. By understanding this demand, the key players are launching a range of flavored products and desserts, which is estimated to fuel the market growth in the coming years as well. Additionally, raising awareness among people about the health benefits of consuming kefir is driving growth of the global kefir market.
Furthermore, the global Kefir Market is witnessing growth at a most lucrative CAGR in coming future owing to product improvisation for enhancing the shelf life of products is fueling market growth. Additionally, increasing disposable income and desire for a healthy and better lifestyle is leading to boost adoption of healthy foodstuff and is likely to drive the kefir market.
Competitive Analysis
Some of the major companies in the global Kefir Market include Lifeway Foods, Inc., Nestlé S.A., The Hain Celestial Group, Inc., Fresh Made Dairy, Danone S.A., Maple Hill Creamery, LLC., Green Valley Creamery, Redwood Hill Farm & Creamery, Liebert Corporation, DuPont, Nourish Kefir, Best of Farms LLC, OSM Krasnystaw, Babushka Kefir, and Valio Eesti AS. The key players in the market are adopting the strategies for product portfolio expansion through research and development, partnerships, agreements, and mergers and acquisitions.
Industry News
The FDA expressed concerns over possible misuse of kefir recently in 2019, to use in the name of dairy food on plant-based product labels, when Lifeway Foods, Inc., one of the key manufacturers in the Kefir Market raised concern. The organization will issue guidance for more clarity on the appropriate labeling of plant-based products.
In 2019, GT’s Living Foods launched a non-kombucha food line based on kefir. This product line includes a range of fermented beverages with a less acidic taste profile.
Segmentation
The Kefir Market is segmented on type, distribution channel, and region.
Based on type, the Kefir Market report is segmented into water kefir and milk kefir. Of these, the milk kefir segment is estimated to dominate the global Kefir Market owing to ease in production and processing protocol.
By distribution channel, the Kefir Market is categorized into store-based and non-store based. The store-based segment is sub-categorized into convenience stores, supermarket & hypermarket, and others.
Regional Analysis
Regionally, the Kefir Market is segmented into North America, Asia-Pacific, Europe, and the Rest of the World. Of these, North America is estimated to remain dominant in the global Kefir Market during the estimated timeframe owing to high disposable income in the region. Additionally, rising awareness about the health benefits of consuming kefir and other related products is driving growth of the market in the region. The demand for kefir-based products is growing; thus, to cater to this demand, the key players in the market are increasingly introducing newer products. This factor is estimated to benefit market growth in the coming years.
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Asia Pacific is estimated to expand at a most lucrative CAGR in the coming years owing to changing eating habits coupled with increasing disposable income in the region. Raising awareness about the consumption of probiotic food in developing countries in the region.
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