Kefir Market Overview:
Factors like the availability of a wide range of products, the ability to improve digestion, presence of probiotic contents, growing awareness regarding its health benefits, increasing impact of the marketing strategies, and others would help the market garner CAGR of 6.40% during the forecast period of 2023-2032.
The global Kefir Market Share is on a track to achieve and surpass a valuation worth USD 4.36 billion by 2032. Market Research Future (MRFR) assessed various factors that impress the market and also included a study regarding COVID-19 impact.
However, the market reach is still less, and it needs proper exploration to understand various possibilities.
Segmentation:
The global kefir market, as discussed in the report analyzed by MRFR experts, has been segmented on the basis of type and distribution channels. These segments have data on various factors and how they are impacting the market, and these data have been backed by charts and graphs to make the report more reliable.
The global market study on kefir has been segmented on the basis of type into water kefir and milk kefir. People with lactose-intolerance are giving rise to the water kefir segment.
By distribution channel, the global market study on kefir includes store-based and non-store-based. The store-based segment has been segmented into convenience stores, supermarkets and hypermarkets, and others. The supermarket and hypermarket segment has a chance to grow better owing to its ability to display a wide range of products under one roof.
Competitive Landscape:
The global kefir market is getting backed by companies like Nestlé S.A. (Switzerland), Danone S.A. (France), Lifeway Foods, Inc. (US), The Hain Celestial Group, Inc. (US), Maple Hill Creamery, LLC. (US), Redwood Hill Farm & Creamery (US), Fresh Made Dairy (US), Green Valley Creamery (US), Nourish Kefir (UK), OSM Krasnystaw (Germany), DuPont (US), Liebert Corporation (US), Babushka Kefir (Australia), Best of Farms LLC (US), and Valio Eesti AS (Estonia). These companies make their presence felt by investing much in strategies like mergers, acquisitions, innovations, partnerships, launching, branding, marketing strategies, and others. They also spend substantially on research and development to improve their product lines and create an edge over others to expand their business.
Industry News:
In May 2020, Biotiful Dairy, a UK-based company, revealed that they are adding on two more flavors to their existing variants of liquid kefir products. These two new variants are Kefir Mango and Kefir Blackcurrant. The company is banking on a hike in takers due to the vitamins and minerals it offers. This product is also rich with friendly bacteria, protein, and calcium. Such advantages are expected to boost the market as COVID-19 analysis reveals. People are looking for products with better immunity to fight against the COVID-19 pandemic.
In June 2020, Lifeway Foods, an Irish enterprise, announced that it would be distributing dairy products to people in need during the COVID-19 crisis. The company will use its surplus production for this and use various local charities as a medium for this distribution. The company is widely known for its Kefir and various fermented probiotic products. This initiative from the company is to stand by those people whose lives have been impacted and affected by the COVID-19.
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.
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