Fermented Drinks Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The global fermented drinks market is forecasted to grow at a CAGR of 6.2% during the forecast period (2020 - 2025).

• Consumer preference for healthy hydration has been a crucial factor in driving the growth of the market. Increased health-consciousness among consumers has led to the demand for functional beverages.
• North America held the majority share in the market, owing to the preference for probiotic drinks in this region. With the rise in global disposable income, especially in the Asia-Pacific region, consumers are willing to pay more for natural-ingredients-based food. The increasing demand for plant-based food among the consumers, such as fermented fruit juices, proteins, and cereal-based drinks is expected to drive the market, worldwide.
• Moreover, the demand for cultured dairy products is augmenting globally. This demand is led by new product development, improved taste and versatility, and high marketing support, which are expected to boost the overall fermented drinks market growth in coming years.
• The fermented beverages sector, especally in regions like the Asia Pacic region is on the verge of a boom due to its health and wellness properties from gut health to immunity boosting, which the consumers are looking out for more amid COVID-19.

Scope of the Report

Based on the type, the market has been segmented into alcoholic beverages, non-alcoholic beverages. The non-alcoholic drinks are further bifurcated into probiotic drinks such as kombucha and, kefir, and others. Based on the distribution channel the market is segmented into on-trade and off-trade. The Off-trade segment consists of supermarket/hypermarket, specialty retail store, convenience store, and other sales channels. The study also provides an analysis of the market studied in the emerging and established geographical regions, by covering regions, such as North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

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Key Market Trends

Growing Demand For Craft Beer

The market has witnessed significant growth due to a rise in the number of consumers looking for new, more exciting offerings compared to their usual spirit options thus, pushing the revenue generation in the craft beer market, globally. The rise in consumer demand for low alcohol by volume beverages among consumers, product innovations, in terms of flavors and packaging, provide growth opportunities to the segment. The demand from emerging markets, with respect to target consumers (mostly women), and from the developing regions give an opportunity for growth of the craft beer market. Sour Ales, Imperial Porters, Golden or Blonde Ales, Kölsch, and Shandies are among some of the other top-growing craft beer styles for 2017.

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