Global kefir Market is estimated to be valued at US$ 1482.05 Million in 2021, according to the Global Kefir Market Report, by Composition (Milk and Water), by Product Type (Organic Kefir, Greek Kefir, Low Fat Kefir, Frozen Kefir), by Application (Dips, Sauces & Dressings, Cosmetics & Toiletries, Dairy Products, Dietary Supplements, and Others), by Distribution Channel (Supermarkets, Hypermarkets, Online Channel, Convenience Stores, and Others).by Region (North America, Latin America, Asia Pacific, Europe, Middle East & Africa), published by Coherent Market Insights.
Global kefir market was valued at US$ 1482.05 Million in 2021. Kefir market is expected to register a CAGR of 5.84 % over the forecast period (2022–2030), to reach US$ 2463.75 Million by 2030.
The high content of magnesium, calcium, biotin, folate, vitamin K2 and B12, and enzymes in kefir is one of the major factors driving demand for kefir. Kefir is also considered to possess several health benefits such as improving gut health, reducing risks of osteoporosis, and reducing the risk of asthma. This, in turn, is propelling demand for kefir. However, rising production cost is one of the key factors restraining the growth of the market for kefir.
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Key Trends and Analysis of the Global Kefir Market:
- Among compositions, milk segment held a dominant position in the market, in 2021 and is expected to maintain its dominance over the forecast period. This is owing to various health benefits associated with milk-based kefir. It helps to improve bone density, boosts the immune system and digestion, and aids in treatment of cancer and irritable bowel syndrome (IBS).
- Among product types, the organic kefir segment held a dominant position, in 2021 and is expected to retain its dominance throughout the forecast period. This is majorly attributed to increasing demand for organic food items among consumers, especially in developed regions such as Europe and North America. The lactose- and gluten-free property of organic kefir is a major factor contributing to its increasing demand in the lactose-intolerant and gluten-intolerant population.
- Among application, dietary supplements segment was the largest segment in 2021, owing to high consumption among consumers, especially in Europe. Italy held a dominant position in the dietary supplements market in 2021, accounting for revenue of over US$ 1482.05 million. Doctor recommendations, growing awareness about the functional benefits offered by dietary supplements, aggressive marketing, and promotional activities taken up by major manufacturers of dietary supplements are some of the major factors influencing the growth of the dietary supplements segment in Europe.
- Among distribution channels, online channel is expected to show significant growth during the forecast period, owing to increasing number of consumers opting online purchase of kefir products. Furthermore, increasing use of smartphones with internet services has influenced manufacturers of kefir to expand their online distribution channel. Moreover, the emergence of several e-commerce companies in the market has intensified competition among manufacturers. Such high competition has led to several promotional activities conducted by manufacturers, including offering lucrative discounts to customers. These factors have inclined consumers towards online purchases.
Key Takeaways of the Global Kefir Market:
- Europe held a dominant position in the global kefir market, accounting for US$ 1482.05 million in 2021. The region is projected to witness a CAGR of 5.84 % in terms of revenue during the forecast period. The dominance is majorly attributed to the increasing number of obese and gastric patients in the region. Kefir helps in increasing metabolic rate and smoothening bowel movement, in turn, leading to increased demand of Kefir in the region.
- Latin America is expected to project significant growth in the kefir market during the forecast period on account of gradual increase in demand for kefir. Minimal consumer awareness regarding kefir and the benefits associated with it is one of the key factors hindering the growth of the kefir market in the region. However, change in the consumption pattern of the consumers has resulted in the shift in focus towards healthier food items, which is a lucrative opportunity for the manufacturers of kefir to penetrate this region and to address the growing base of consumers. In 2021, the WHO reported that over 20% of the entire population in Brazil was obese, out of which 8% suffered from diabetes.
- Major players operating in the global kefir market include Groupe Danone, Lifeway Foods Inc., Nourish Kefir, Fresh Made Inc., Babushka Kefir, Valio Eesti A.S., Litehouse Foods, and Hain Celestial Group.