Market Insights
The fermented drinks market is poised to register a CAGR of 5.3% during the forecast period. The increasing trend of alcoholic beverages and growing consumer demand for natural ingredients is driving the market.
The Growth in Alcoholic Beverages = Growth in the Fermented Drinks Market
The alcoholic beverage is one of the trillion markets of the F&B sector. The market is driven by the wide availability and adoptability and the increasing social gatherings. The alcoholic beverages market was recorded at 1.3 trillion in 2015 and is expected to cross 1.5 trillion, by 2023.
The growth of alcoholic beverages is expected to drive the fermented drinks market, which is anticipated to have a great impact for 1-2 years. Further, this impact is expected to be the minimum, during the forecast period, owing to the rising controversies related to alcoholic beverages and the consumption decline.
Segmentation Analysis
The market has been segmented by type (alcoholic and non-alcoholic), raw material (grains, fruits, dairy, others), distributional channel (online stores, super markets, health stores, others) and region (North America, South America, Europe, the Middle East & Africa and Asia-Pacific).
Grains Dominate the Segment Due to Growth in Alcoholic Beverages
The increase in demand for alcoholic beverages is affecting the growth of grains in this segment, as grains, such as sorghum, wheat, rye, barley, rice and millets, are the major ingredients for the preparation of alcoholic beverages. The same is expected to continue, during the forecast period.
Asia Pacific is Spearheaded Nation gor the Fermented Drinks
Asia-Pacific, traditionally applies the method of fermentation in its drinks and foods. With the growing health benefits awareness, the naturally performed fermentation has gained attention and spread across the regions. Europe as the most health oriented nation, is in the second position and is expected to register a CAGR of 4.7%, during the forecast period.
Key Developments
Competitive Environment
The market is fragmented into small and big players in the industry. The market is influenced by the consumer preferences. However, owing to the price competition, product innovations and distribution are the major factors to be considered.
The key players of global fermented drinks market includes Kevita, Inc., Lifeway Foods Inc., Nestlé, The Kefir Company and Yakult amongst others.
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