Robust Demand for Fermented Dairy Products to Propel Kefir Market Growth
The global kefir market size is projected to reach USD 1.84 Billion by 2027, exhibiting a CAGR of 5.4% during the forecast period. Findings from a 2018 study conducted by researchers from the University of Eastern Finland revealed that men who consume large amount of fermented dairy items such as kefir and yoghurt have a significantly lower risk of developing coronary heart disease. Another study, conducted in Brazil and published in the Journal of Nutritional Biochemistry in 2019, showed that kefir-infused fermented milk improved blood pressure and prevented cardiac hypertrophy. With increasing prevalence of cardiovascular disorders, which are the number one cause of death worldwide according to the WHO, the demand for probiotics-laden ingredients such as kefir is likely to spike, as people become more aware of their potential health benefits.
The report states that the global market value stood at USD 1.23 -13824 in 2019 and provides the following:
- Thorough study of all the factors driving and restraining the market;
- Detailed analysis of the various market segments;
- Comprehensive examination of the regional prospects for the market; and
- In-depth research of the competitive landscape of the market.
List of Key Companies Profiled in the Kefir Market Report:
- The Icelandic Milk and Skyr Corp (New York, U.S.)
- Maple Hill Creamery, LLC (New York, U.S.)
- Green Valley Creamery (California, U.S.)
- The Hain Celestial Group, Inc. (New York, U.S.)
- Nestle S.A. (Vevey, Switzerland)
- Emmi AG (Lucerne, Switzerland)
- Fresh Made Dairy (Pennsylvania, U.S.)
- Biotiful Dairy Limited (London, England)
- Danone S.A. (Paris, France)
- Lifeway Foods, Inc. (Illinois, U.S.)
Market Opportunity
Increasing Focus on Gut Health to Fight the Coronavirus to Create Opportunities
The COVID-19 pandemic has renewed the debate on maintaining gut health, with several health experts emphasizing and highlighting the critical link between the immune system and the gut. For example, epidemiologists at the King’s College London established through research that gut bacteria release many important chemicals, including Vitamin A, which help regulate and strengthen the immune system. With a vaccine for the coronavirus seeming unlikely in the immediate future, bolstering the gut microbiome, and the immune system by extension, has become crucial. This is possible, according to the researchers, by consuming healthy amounts of natural probiotics found in drinks such as kefir and fermented foods such as Korean kimchi. The current health crisis, therefore, may generate conditions favorable to the kefir market growth. However, disruptions in supply chains and a downturn in economic activities will dampen the growth prospects of the market in 2020.
Regional Insights
High Nutritional Awareness to Power Market Growth in Europe
Europe, where the market size stood at USD 654.78 million in 2019, is expected to dominate the kefir market share during the forecast period. The central growth driver for this region is the widespread awareness of the nutritional requirements to maintain gut health. The emerging trend of healthy snacking is also expected to boost the demand for fermented milk in the region.
Increasing investment in research to investigate the benefits of probiotic food & drinks by companies in North America will fuel the regional market growth. In Asia Pacific, the market will be mainly driven by the growing interest of consumers in the novel, flavored probiotic products, especially dairy-based kefir, which held a share of 71.91% in 2019 in the region.
Competitive Landscape
Companies to Align Strategies to Serve Evolving Consumer Tastes
With consumer preferences and tastes undergoing continuous change, key players in this market are constantly evolving their strategies to meet consumer demand. As a result, companies are developing and introducing novel offerings to broaden their sales horizons and build a strong brand value for their products.
Industry Developments:
- May 2020: Biotiful Dairy expanded its kefir liquid portfolio with the addition of Kefir Blackcurrant and Kefir Mango flavors. The company’s cultured milk beverages are created by fermenting milk with live kefir grains, which are then infused with fruit.
