Fermented Beverages Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1470
Global Fermented Beverages Market size is expected to witness a high growth during the forecast period. There are numerous factors leading to the rise of the market. The rising disposable incomes and need of convenient lifestyle fueled the growth of the industry. There are several market players in the industry which provide a diverse product portfolio. Consumer awareness about the health has fast-tracked the growth of the non-alcoholic beverage market.
Rapidly growing economies and urbanization has also led to a boost in the industry. Technological innovations for the fermentation process and equipment has also contributed to the rise in the business. The beverage industry is growing at a fast pace owing to the variety of flavors demanded by the consumers. Acquisitions and mergers between the manufacturers and suppliers have been the key approaches adopted by the companies for their expansion.
Alcoholic fermented beverage market has a high growth rate due to the changing lifestyle of people. Many consumers are now moving towards non-alcoholic fermented beverages due to increased health consciousness. Many companies have launched innovative products to attract the customers which has significantly increased the product market. Health promoting characteristics of the product have also led to an increased consumption. Fermented beverages have occupied a significant portion within the functional food market. However, the health claims associated with the fermented beverages need to be verified which could be a hindrance for the industry.
Fermentation provides an economic way of preservation and increasing the nutritional quality of beverages. Some of the fermented drinks such as koumiss and kefir are also known to improve gastrointestinal health. Fermented milks enhance the immunity and lower down the cholesterol level and blood pressure. Some of the beverages have anti-carcinogenic and anti-inflammatory properties. Innovative trends in ingredient exploration have propelled the growth of the industry.
The global market for fermented beverages can be classified on the basis of raw material, type and region. The raw materials used for the production of the fermented drinks are fruits, vegetables, grains, tea, milk and others such as honey, nuts, etc. Vegetables and fruits are expected to be the major constituents of fermented drinks in future. Fermented milk beverages are made from the milk of cow, goat, sheep, camel, etc. Kefir is a popular drink made from the cow milk while kombucha made from tea is also consumed worldwide.
Based on types, the product can be segmented into alcoholic and non-alcoholic fermented beverages. Alcoholic beverages include beer, champagne, cider, wine, etc. In 2015, alcoholic beverages held the major market share globally. In the forecast timespan, fruit juices as raw materials will constitute a major portion of fermented beverage market, due to the health benefits associated with them. Based on region, the product market can be divided into five regions viz., North America, Latin America, Europe, Asia Pacific, and Middle East & Africa (MEA). North America has accounted for a major share in the global market, followed by Europe. Asia Pacific has growing economies that are anticipated to boost the market growth in the region. Changing lifestyle and increasing population has led to a substantial growth of the industry in Asia Pacific.
The global market for fermented beverages is fragmented in nature. Key players in the market are Dohler GmbH, Wild Flavors, Inc., Caldwell Bio Fermentation Canada, Inc., Coca Cola India Ltd., Portland Cider Company, Arizona Beverage Company, Sula Vineyards, Bio-tiful Dairy Ltd., Burke Beverage Inc., Lifeway Foods Inc., Alaskan Brewing Co., The Kombucha Shop, Heineken Holding NV, Beaver Brewing Company, ACE Cider, etc.
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