Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Kefir market.
Trusted Business Insights presents an updated and Latest Study on Kefir Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Kefir market during the forecast period (2020-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Report Overview: Kefir Market
The global kefir market size was valued at USD 875.6 million in 2020 and is anticipated to witness significant growth in the forthcoming years. Globalization and international exchange of various cuisines have played a integral role in the adoption of kefir in various countries. Millennials and Generation Z that together make a large part of the modern-day consumers share a strong interest in healthy food and beverages.
As a result, adoption of kefir has increased as a healthy drink among the consumers at the global level. This is eventually compelling companies to introduce new products in different geographies as well as experiment with their taste and flavor.
The modern-day consumers have become increasingly conscious about health and nutrition and have been consistently adopting products that are beneficial for human health. This factor has been positively influencing the adoption of kefir. These products are considered rich in nutrients, including protein, calcium, phosphorus, magnesium, and vitamin B2 and B12. Kefir is also abundant in probiotics, thus helping in improving digestion and gut health. Certain researchers claim that kefir has much better probiotics than regular yogurt. Kefir alone contains 61 strains of bacteria and yeasts. The probiotic is also known to protect against infections caused by Salmonella, Helicobacter pylori, and E. coli owing to the presence of Lactobacillus kefir in the product.
Kefir is no more considered a niche product as its demand has been rapidly increasing year on year. It is used to create a variety of products, including drinks, smoothies, cups, frozen, pouches, and supplements and a variety of companies are offering these products. For instance, in June 2019, GUTsy Captain launched sparkling water kefir drinks. The vegan drink is made using fruits and water kefir grains and is available in four flavors, including original, ginger and lemon, Atlantic raspberry, and cola. The products are available in the cans of 330mL, in Sainsburys, Wholefoods, and Grape Tree stores for GBP 1.80.
The product is considered to be naturally sweet with a mild sourness. Its texture is creamy and it smells a mix of yogurt and cheesecake. Growing popularity and preference for its taste is expected to make the product commercially successful. A large number of eateries, restaurants, and cafes have given place to kefir products in their menu. LEON restaurants Limited, a U.K.-based fast-food chain, offers strawberry banana kefir smoothie. The restaurant claims the drink to be lactose-free and good for the gut.
Product Insights: Kefir Market
Animal-based products accounted for more than 65% share of the global revenue in 2019. These products are derived from cattle milk and will remain a key choice among the consumers of Scandinavia and Eastern European countries. The growth of animal-based kefir products is attributed to the first movers and high product penetration in these countries.
Plant-based products are expected to exhibit the fastest CAGR of 4.3% from 2021 to 2027. Growing adoption of veganism is promoting the demand for plant-based kefir products. The product is also largely suitable for people who are allergic to milk and is thus gaining popularity. SQUAMISH WATER KEFIR CO., a Canada-based company, offers sparkling water kefir in four flavors, including hibiscus, lemon ginger, blood orange, and mint. Kefir, water, cane sugar, and natural flavoring agents form these drinks. These are dairy-free, gluten-free, caffeine-free, and are also low in pre-digested sugar.
Distribution Channel Insights: Kefir Market
Offline distribution channel led the global kefir market and accounted for more than 85% share of the global revenue in 2019. The channel includes point of sales, including specialty stores, mom and pop stores, department stores, convenience stores, hypermarkets, supermarkets, and superstores. Proximity of these stores, along with availability of a wide variety of products, is a major reason convincing people to buy through offline channels. Furthermore, most people prefer buying groceries through these channels and avail maximum discount.
Online channel is expected to expand at the fastest CAGR of 5.3% from 2021 to 2027. Rising dependence of the millennials on e-commerce channels owing to increasing need for convenience and growing busy lifestyles is propelling the trend of grocery shopping through online platforms. Furthermore, kefir isnt a native food across Latin America and Asia Pacific, and thus its availability is limited in physical stores. Therefore, online channels are increasingly preferred for buying not so common ingredients.
Regional Insights: Kefir Market
Europe emerged as the largest regional market with a share of over 45.0% in 2019. High popularity of kefir products in the households of countries, including Belarus, Bulgaria, Denmark, Georgia, Greece, Moldova, Montenegro, North Macedonia, Romania, Russia, Serbia, Ukraine, Czechoslovakia, Sweden, Norway, and Switzerland, is expected to remain a key factor for the industry growth.
Asia Pacific is expected to expand at the fastest CAGR of 4.5% from 2021 to 2027. Countries including Japan, Australia, and New Zealand are expected to propel the regional market growth as a result of increasing awareness among the consumers regarding fermented milk products over the past few years. THE KEFIR COMPANY is a popular company in the region.
Kefir Market Share Insights: Kefir Market
Some of the key players operating in the market are
- LIFEWAY FOODS, INC.
- Maple Hill Creamery, LLC.
- Green Valley Creamery
- Redwood Hill Farm & Creamery
- Danone North America Public Benefit Corporation
- Evolve Kefir
- The Icelandic Milk and Skyr Corporation
- Forager Project
Associations can be seen as organizing programs in order to accelerate market growth. For instance, in November 2019, California Milk Advisory Board sponsored an accelerator program, where WheyUp, a Kefir manufacturer was one of the major finalists.
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global kefir market report on the basis of product, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2016 – 2027)
Distribution Channel Outlook (Revenue, USD Million, 2016 – 2027)
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