ID: MRFR/F-B & N/2976-HCR | February 2023 | Region: Global | 110 Pages
Kefir market size is expected to register a CAGR of 6.40% from 2020 to 2027 and reach USD 3.30 billion by the end of 2027.
$3.30 Billion
6.40%
North American
2020-2027
The kefir market size is anticipated to grow at a CAGR of 6.40% and reach USD 3.30 billion From 2020 to 2027.
The growing number of people to avoid the use of dairy products is to a series of reasons like keeping away from extra calories, lactose-intolerance, and digestive issues while consuming both milk and milk products is likely to provide the global market operations with excellent opportunities to dwell upon, during the forecast period.
Covid 19 Analysis of Kefir Market
The outbreak of the novel coronavirus is one of the biggest and the most unforeseen challenges that has been witnessed by the kefir market players irrespective of the global location they belong to. The pandemic has not only given rise to new trends, circumstances, and scale of the demand and supply that prevails in the market but also new struggles that need a different perspective to be resolved. One of the major issues that are creating a series of other problems is the imposition of lockdown. Most of the countries are completely non-functional and only the operations related to the basic facilities and necessities are open. People are bound to stay at home to curb the spread of the pandemic. This is reducing the demand for the market services and products. Further, the pandemic has resulted in the non-availability of a skilled workforce to operate the established machinery and other types of equipment. The reduced availability of the important resources for production is also resulting in major disruption of the ability of the market to supply the demanded products.
However, the government is realizing the decline in the market trends and hence, is gearing up to help the kefir market players make judicious use of the resources and hence, retrieve the demand schedule for the market. Also, the market players are gearing up to widen their role and investment in the research and development sectors. They are on their way to launch new products that will increase their reflection on the international map during the forecast period.
Market Dynamics
Drivers
There is a huge increase in health consciousness amongst people and this is pushing them to keep some amount of their earnings to invest in the kefir market products and services. The purchasing power of the target audience is enhancing, and they are showing interest in making use of the health-benefiting foods that are inclusive of kefir in most of the parts of the globe, and emerging economies like Latin America, and the APAC region.
Opportunities
The benefits of kefir are the maximum for people who suffer from lactose intolerance, and this is resulting in an increased quantum of consumption. With the same level of rising trends and factors, the kefir market has positive opportunities to try and grow during the ongoing forecast period.
Technology Analysis
The presence and steps taken by a huge number of industry participants are on their way to adopt constructive strategies like the wide-scale introduction of their kefir market brands in various untapped economies that will help them gain market presence and dominance by the end of the forecast period in 2027. The main aim of the target audience is the rising consumption rates backed with the rising trends and the increased investment in the market is helping them develop major demand for the market.
Study Objectives
Segment Overview
Owing to the objective of kefir market report to have a deep analysis of the ability of the market segments to meet the demands of the target audience and also, have a positive impact on the final market value during the forecast period, it will be better to have a proper discussion of the market segments. These are as follows:
Based on the form
The form segment of the market is available in both organic and conventional forms for the target audience to choose from.
Based on the category:
The kefir market products are available in flavored and non-flavored kefir based on the varied liking amongst the global audience.
Based on the product type
The market players deal in products like milk kefir and water kefir. Milk kefir is further divided into dairy and non-dairy-based products.
Based on the distribution channel
The kefir marketplayers make use of a variety of distribution channels like specialist stores, supermarkets, convenience stores, and others like hypermarkets, and general stores.
Regional Analysis
Based on the distribution of the market in 5 major mushrooming regions across the globe, the kefir market trends project that the North American market is likely to hold the largest market share during the forecast period that ends in 2027. The demand for the market products is more prevalent in the people who belong to a high-income group. Also, the fact of developing solutions to rising health concerns will help the market to prosper in this region. Also, owing to the ability of the European players to cater to the ever-rising demand, it is likely to hold the maximum share of revenue contribution to the global market operations during the forecast period. Increased awareness will also help the market to have international growth during the forecast period.
Competitive Landscape
Owing to the rising degree of competition based on the recent developments undertaken by the kefir market players, it is imperative to have an idea about the players. These are as follows:
Recent Developments
Intended Audience
Report Overview
The kefir market report helps in getting the hands on the potential drivers and opportunities that will help the market grow as per the predictions laid by the industry experts for the period. The report highlights the impact of the pandemic and the steps taken by the market players to cover the losses and emerge as global winners. The report also includes the ability of the market segments to function as per the demand trends that prevail in the market.
Report Attribute/Metric | Details |
---|---|
Market Size | USD 3.30 Billion |
CAGR | 6.40% |
Base Year | 2019 |
Forecast Period | 2020-2027 |
Historical Data | 2018 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Type, Distribution Channel, and Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Fresh Made Dairy, Lifeway Foods Inc., Nestle SA, The Hain Celestial Group Inc., and Danone SA |
Key Market Opportunities | Rising trends and factors |
Key Market Drivers | Increase in health consciousness |
Kefir market valuation would be USD 3.30 billion.
Kefir market CAGR would be 6.40% during the forecast period.
Key competitors in the goat milk products industry include Fresh Made Dairy, Lifeway Foods, Inc., Nestle SA, The Hain Celestial Group Inc., and Danone SA.
High disposable income would assist the North American kefir market growth.
Asia Pacific would be the fastest-growing kefir market.
North America would lead the kefir market.