Kefir Global Market Report 2024 Predicts High Growth Rate And Market Size Expansion

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How Much has the Kefir Market Grown and What are the Future Predictions?

The kefir market size has seen substantial growth in recent years. It is projected to grow from $1.86 billion in 2023 to $1.99 billion in 2024, maintaining a compound annual growth rate CAGR of 6.8%. The growth during the historic period can be associated with a rise in awareness of probiotic and fermented foods, an increased interest in gut health and digestive wellness, demand for natural and functional food products, a growth in consumer preference for dairy alternatives, and a growing adoption of health-conscious lifestyles and diets.

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What could the Kefir Market Growth Forecast look like?

The kefir market size is expected to see strong growth in the next few years. It is projected to grow to $2.65 billion in 2028 at a compound annual growth rate CAGR of 7.4%. The forecast period growth can be attributed to the expansion of online retail channels for kefir, increasing prevalence of lactose intolerance and dairy sensitivities, research on kefir's potential health benefits beyond digestive wellness, demand for convenient and ready-to-drink kefir products, and inclusion of kefir in functional food and beverage formulations.

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What are the Key Market Accelerators?

The rising popularity of functional beverages will boost the Kefir market. A functional beverage is a non-alcoholic drink with beneficial ingredients such as herbs, vitamins, minerals, amino acids, additional raw fruit, vegetables, and others. Demand for nutrient-rich drinks, sugar-free products, and non-dairy products are driving the Kefir market growth. The data published by Nielsen IQ in March 2021, a US-based information services company, revealed that products fitting the requirements for a plant-based diet made up 14% of food and beverage expenditure. Hence, the growing demand for functional beverages will drive the kefir market.

Which are the Major Industry Key Players?

Major companies operating in the kefir market include Danone SA, Lifeway Foods Inc., Nestle SA, Fresh Made, Maple Hill Creamery LLC, The Hain Celestial Group Inc., Green Valley Organics, Wallaby Yogurt Company, Biotiful Dairy Ltd., Redwood Hill Farm & Creamery Inc., Babushka Kefir, Greek Gods Yogurt, GO-KEFIR, Nancy's Probiotic Foods, Yofix Probiotics Ltd., Grace Harbor Farms, Forager Project LLC, Rumba Kefir, Organic Meadow Limited Partnership, Oak Knoll Dairy, Oy Elopak Ab, Latta Buildtech Private Ltd., Güvenç A.S, Kri Kri Milk Industry SA, New Age Farm Inc., One Straw Farm, Lifeway Foods Canada Inc., Granarolo S.p.A, Good Karma Foods Inc., The Icelandic Milk and Skyr Corporation, Green Mountain Creamery LLC.

What are the forward-looking developments in this Market?

R&D initiatives and investments are a significant trend gaining momentum in the Kefir market. As consumer demand grows for healthy snacks and beverages, companies in the kefir market are investing in R&D to produce innovative kefir products. For instance, in October 2021, a New Zealand-based producer of young coconut kefir launched a crowdfund to support the research and development of an innovative new range of kefir-fermented food and beverage products, in partnership with native Aotearoa producers.

How is the Kefir Market Segmented?

The kefir market covered in this report is segmented by several parameters:

1 By Type: Milk Kefir, Water Kefir
2 By Form: Organic, Conventional
3 By Category: Flavored kefir, Non-Flavored kefir
4 By Source: Animal milk , Soy milk , Coconut milk, Other Sources
5 By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, Specialist Stores, Other Distribution Channels

What Perspectives do Regional Insights Shed?

In 2023, North America was the largest region in the kefir market. Asia-Pacific is expected to be the fastest-growing region in the kefir market share during the forecast period. The report covers these regions in detail: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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