Growth in interest of people towards probiotic drinks and healthy snacks is expected to boost growth of the kefir market.

PORTLAND, OR, UNITED STATES, August 18, 2021 /EINPresswire.com/ -- Kefir Market by Nature, by Product Type, Application and Source: Global Opportunity Analysis and Industry Forecast, 2021–2028,” the global kefir market size was valued at $1,627.8 million in 2020, and is projected to reach $2,475.4 million by 2028, registering a CAGR of 6.4% from 2021 to 2028. The conventional segment was the highest contributor to the market, and is estimated to grow at a CAGR of 1009.2% during the forecast period. Also the Europe held a leading position in the global market in 2020.

Rise in population of lactose intolerant people, strong network and distribution channel with retail stores, and availability of kefir products at affordable prices have boosted the growth of the global kefir market. However, low shelf life and lack of awareness in developing countries hinder the market growth. On the contrary, increase in demand for organic kefir products and untapped potential in Asia-Pacific would open lucrative opportunities for the market players in the future.

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Covid-19 scenario:
• The Covid-19 pandemic and followed lockdown led to economical uncertainty and disruption in the supply chain. Moreover, shift in spending patterns of customers was observed during the pandemic.
• The demand for kefir was declined due to lockdown across various regions and ban on international trade. Customers preferred to purchase essential items, which hampered the demand for flavored kefir milk and kefir yogurt.
• However, the demand for kefir is expected to get back on track due to increase in awareness of health and wellness among people.

The global kefir market is segmented on the basis of nature, product type, application, source, and region.
On the basis of nature, the conventional segment was the highest contributor the global kefir market growth. Also, it is projected to reach $1,511.6 million by 2028, registering a CAGR of 5.2% from 2021 to 2028.

The rise in the demand for probiotic drinks and healthy snacks leads to the growth of conventional segments. As the kefir products are rich in nutrition.
On the basis of the product type, the flavored segment is the largest contributor to the market growth. It is estimated to reach $1,555.6 million by 2028, at a CAGR of 2.2%. This growth attributes to the varieties of flavors in kefir products such as kefir milk, kefir smoothies and kefir probiotic drinks.

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On the basis of the application, the foods & beverages segment is the largest contributor to the market growth. It is estimated to reach $1,717.2 million by 2028, at a CAGR of 5.3%. As majority of the producers are engaged in the production of kefir products in foods and beverages section such as kefir yogurt, drink, probiotic drink, smoothies and kefir waters. Also, there is wide range of kefir products in foods & beverages segment which is gaining trend among the customers.

Based on the source, the animal milk segment was the highest contributor to the market, with $563.8million in 2020, and is estimated to reach $839.9 million by 2028, at a CAGR of 5.1% during the forecast period. This is because the popularity of animal milk kefir products promotes health benefits such as improving bone health, aids digestion problems and boosts immunity. As a result, due to these health benefits the kefir products are gaining traction among the customers.

The global kefir market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe dominated in terms of revenue in 2020, accounting for more than one-third of the market. However, the market across Asia-Pacific is estimated to manifest the highest CAGR of 5.9% during the forecast period.

The global kefir market includes an in-depth analysis of the prime market players such as Danone, Biotiful Dairy Ltd, Lifeway Foods, Inc., Fresh Made Dairy, Nestlé S.A., Maple Hill Creamery, LLC., Redwood Hill Farm & Creamery, Nourish Kefir, Yeo Valley, and Springfield Creamery, Inc.

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David Correa
Allied Analytics LLP
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