The global kefir market was valued at US$ 1233.6 million in 2016, 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).
The kefir market is expected to register a CAGR of 8.35% over the forecast period (2017 – 2025), reaching US$ 2504.1 million by 2025. 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 Kefir Market:
Among compositions, the milk segment held a dominant position in the market, in 2016 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 2016 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 distribution channels, the 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 from the Market:
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.