Global
Fermented Non-Dairy Non-Alcoholic Beverages Market: Snapshot
The
global fermented non-dairy non-alcoholic beverages market is rising
steadily driven by a number of favorable factors. The rising
acceptance of the notion that fermented non-dairy non-alcoholic
beverages are beneficial for improving gut health is leading to their
increasing adoption. Further, increasing shift to vegan diets due to
religious restrictions or generally due to the belief that vegetarian
diet helps to stay healthy in the long run is driving the adoption of
fermented non-dairy non-alcoholic beverages.
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However,
factors such as product offerings from large beverage manufacturers
is preventing regional drinks such as kvass and coconut kefir to
penetrate in the global fermented non-dairy non-alcoholic beverages
market. Further, low awareness about fermented non-dairy
non-alcoholic beverages among individuals in developing countries is
also restraining the market’s growth.
As
per a report by Transparency Market Research (TMR), the global
fermented non-dairy non-alcoholic beverages market is expected to be
worth US$1,655.1 mn by the end of 2017. Expanding at 5.2% CAGR
between 2017 and 2025, the global fermented non-dairy non-alcoholic
beverages market is expected to be valued at US$2,483.8 mn by
2025-end.
Fermented
Soft Drinks to Stay Attractive Product Segment in Forthcoming Years
The
report studies the global fermented non-dairy non-alcoholic beverages
market based on a few parameters, viz. product type, sales channel,
and region. The segmentation of the worldwide fermented non-dairy
non-alcoholic beverages market by product type could include dairy
free drinkable yogurts, fermented juices, fermented soft drinks, and
non-dairy kefir. Of them, fermented soft drinks is estimated to hold
59.7% of market share in the global fermented non-dairy non-alcoholic
beverages market by 2017-end.
As
per the sales channel classification, the market could be divided
into modern trade, specialty stores, convenience stores, online
retailers, and other retailing formats. Amongst all, the segment of
specialty stores is anticipated to hold 25.7% of the market by the
end of 2017.
The
global fermented
non-dairy non-alcoholic beverages market is also studied on
the basis of region in this report. North America, Latin America,
Europe, Asia Pacific, and the Middle East and Africa have been
considered as the key regional markets for fermented non-dairy
non-alcoholic beverages across the world.
North
America to Display Leading Growth Rate through 2025
Asia
Pacific currently stands the leading regional market for fermented
non-dairy non-alcoholic beverages market and is anticipated to lead
the overall market in 2017. This is mainly because of high
consumption of fermented soft drinks in China and other Asian
countries. Vis-à-vis revenue, the region is anticipated to gain
significant market share in the overall market by 2025 end.
North
America, among all, is expected to display the leading CAGR of 5.9%
between 2017 and 2025. This is attributed to high per capita
disposable income and considerably high spending on foods that are
associated with health benefits. Furthermore, vast investments on R&D
from companies that are based in North America is boding well for the
growth of this regional market.
The
Middle East and Africa is a relatively new market for fermented
non-dairy non-alcoholic beverages market. Leading players are seeking
to enter countries in this region where fermented non-dairy beverages
have low penetration. The presence of fewer key players and high cost
of premium products account for the slow growth rate of this regional
market.
Thurella
AG, Good Karma Foods Inc., Health-Ade Llc, FENTIMANS, KeVita Inc.,
Millennium Products Inc., Konings NV, and GT’S LIVING FOODS are the
key companies that operate in the global fermented non-dairy
non-alcoholic beverages market.
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