Market Overview and Growth Factors: —
Investments are likely to flow towards the market in the years to come for research & product development. This, in turn, is expected to favor the expansion of the global kefir market over the next couple of years. The market strategies also include investment in attractive packaging for gaining an edge over competitors. The food & beverages industry has been observing a shift towards products that boost immunity and improves gut health. Products with probiotic bacteria, such as kefir, are expected to witness an upswing in demand over the next couple of years. The increasing population of health conscious people has led to developments in the Kefir Market. An upsurge in demand is expected for the next couple of years.
It is poised to accelerate revenue creation for the players in the market. The study published by Market Research Future (MRFR) asserts that the global kefir market is anticipated to expand at a moderate CAGR over the projection period 2017 to 2023. In order to capitalize on the thriving market, key players are emphasizing on the innovation of different flavors. Introduction of new flavors is prognosticated to catapult the kefir market on an upward trajectory.
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The players that are anticipated to play a crucial role in the competitive landscape of the global kefir market in the forthcoming years are Lifeway Foods Inc. (U.S.), Danone SA (France), Fresh Made, Inc. (U.S.), Kenmare Living Foods (Ireland), Nourish Kefir (U.K.), The Hain Celestial Group (U.S.), and Wallaby Yogurt Company (U.S.)
In April 2019, Biotiful Dairy, the UK’s number one kefir brand, has announced the launch of Kefir Quark in three variants - Kefir Quark with Strawberry & Rhubarb Compote, Kefir Quark with Black Cherry Compote, and Kefir Quark with Raspberry Compote.
In March 2019, Agua De Madre, a low-ABV, probiotic water kefir drink, has been rolled out in the U.K. market.
In February 2019, Dairy-free player CoYo has ventured into the kefir market with the launch of vegan kefir.
In January 2019, Biotiful Dairy announced the launch of new kefir smoothie flavors – cacao, and honey & ginger.
By flavor, the global kefir market has been bifurcated into regular, and flavored. The regular segment is expected to emerge with the leading share of the market towards the end of the assessment period owing to the convenience in its production coupled with high demand for natural flavor.
By type, the kefir market has been segmented into milk kefir, water kefir, and others. The milk kefir segment has the maximum market share and is anticipated to maintain its pole position in the upcoming years. The growth pace can be ascribed to the rising demand for traditionally produced kefir.
By application, the global kefir market has been segmented into dietary supplements, beverages, dips & sauces, frozen desserts, and others. Among these, the beverages segment is anticipated to hold a relatively larger market share due to increasing demand for healthy drinks.
The global Kefir Market, by region, has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). Europe accounts for the largest share of the global market owing to the increasing health conscious population. The growing demand for healthy beverages in the region is anticipated to have a positive impact on the expansion of the kefir market in the region over the next few years. The U.K., Belgium, and Germany are expected to emerge as the hotspots for the growth of the regional market. Similarly, the U.S. and Canada are likely to become the prime country-level markets in North America, which is projected to secure the second spot in the global kefir market.
Name: Abhishek Sawant
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