Kefir Market is expected to reach $2,475.4 Million by 2028-Allied Market Research

According to a new report published by Allied Market Research, titled, “Global 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.

The increase in demand for immunity boosting supplements and healthy lifestyle is influencing the customers towards consumption of kefir products. As the kefir products are rich source of probiotics and nutrients which promotes immunity and health of the consumer. Furthermore, the surge in the population of lactose intolerant customers leads to the further increase in consumption of kefir products. Owing to the fact that the kefir products can be consumed by lactose intolerant customers. As the kefir products are gluten free, contains active probiotic and is good for the digestion. Also the exchange of various food culture and cuisines across the globe is contributing to the increasing awareness of kefir products and its properties which boosts physical health.

The global kefir market is segmented into nature, product type, application and source. The nature segmented include organic and conventional. On the basis of product type, the market is classified as flavored and unflavored. Based on the application, market is divided into animal milk, soy milk, coconut milk and others. Region-wise, it is analyzed across North America (the U.S., Canada and Mexico), Europe (UK, Germany, France, Italy, Russia and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East and Africa).

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.

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.

Region-wise, Europe has gained considerable traction in the kefir market. This growth attributes to fact that there are large number of manufacturers in this region which leads to increase in competition among kefir manufacturers. Consequently, due to taugh competition among manufacturers leads to the availability of best product at a reasonable price.  

Key players in the global kefir market trends have relied on strategies such as product launch, partnership and business expansion to expand their stance in the global market and to stay relevant to maintain the global kefir market share. The key players in the global kefir industry profiled in the report are Biotiful Dairy Ltd, Danone, Fresh Made Dairy, Lifeway Foods, Inc., Maple Hill Creamery, LLC., Nestlé S.A., Nourish Kefir, Redwood Hill Farm & Creamery, Springfield Creamery, Inc. and Yeo Valley.

Key findings of the study 

• According to the kefir market analysis, the market was valued at $1,627.8 million in 2020, and is estimated to reach $2,475.4 million by 2028, growing at a CAGR of 6.4% during the forecast period. 
• By nature, the organic segment is estimated to witness the fastest growth, registering a CAGR of 5.70% during the kefir market forecast.
• In 2020, depending on product type, the flavored segment was valued at $1,024.0 million in 2020 and and is estimated to reach $1,555.6 million by 2028, accounting for CAGR of 2.2% of the global kefir market share.
• By application, the pharmaceutical segment is estimated to witness the fastest growth, registering a CAGR of 5.80% during the forecast period.
• In 2020, the UK was the most prominent market in Europe, and is projected to reach $193.6 million by 2028, growing at a CAGR of 4.5% during the forecast period.