Transparency
Market Research (TMR), in one of its recent publications, observes
the global fermented non-dairy non-alcoholic beverages market to be
largely consolidated and is likely to stay this way going ahead too.
However, the dominance of a few established players renders
competition in the global fermented non-dairy non-alcoholic beverages
market. To outpace their competitors, key players are engaged in
developing innovative products mainly to attract the millennial
population. Penetration into newer markets such as countries in the
Middle East that have not been tapped is also a noticeable growth
trend observed in the global fermented non-dairy non-alcoholic
beverages market.
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Prominent
companies in the global fermented non-dairy non-alcoholic beverages
market to name are Thurella AG, Good Karma Foods Inc., Health-Ade
Llc., FENTIMANS, KeVita Inc., Millennium Products Inc., Konings N.V.,
and GT’S LIVING FOODS.
“Shift
to vegan diets is rapidly gaining pace predominantly among the urban
populace,” says an analyst at TMR. Considering this and various
other factors, the global fermented non-dairy non-alcoholic beverages
market is expected to be evaluated at US$1,655.1 mn by the end of
2017. Rising at a CAGR of 5.2% between 2017 and 2025, the global
fermented non-dairy non-alcoholic beverages market is expected to
become worth US$2,483.8 mn by the end of 2025.
Fermented
soft drinks, by product type, is estimated to hold 59.7% market share
in the overall market by 2017-end. Specialty stores, among the key
sales channels, is expected to account for 25.7% market share by the
end of 2017. Geographically, Asia Pacific holds the top position in
the global fermented non-dairy non-alcoholic beverages market,
whereas North America is anticipated to display the leading growth
rate over the 2017-2025 period.
Growing
Number of Consumers of Vegan Diet for Health Reasons, Religious
Restrictions Drives Sales of Fermented Non-Diary Non-Alcoholic
Beverages
The
global fermented non-dairy non-alcoholic beverages market is
displaying a steady growth over the past couple of years driven by a
few factors. First and foremost, the continuous launch of new
products by manufacturers and technological advancements for
processes for the production of fermented non-dairy non-alcoholic
beverages is anticipated to augur well for the market’s growth in
the upcoming years.
The
increasing number of individuals globally that are shifting to vegan
diets due to factors such as social taboo, cultural or religious
restrictions, or simply because of acceptance that vegetarian diet
helps to stay healthy in the long run are driving the adoption of
fermented non-dairy non-alcoholic beverages. Further, concerns
regarding the inhumane treatment of animals for milk is also playing
a significant role in the shift towards vegan diets.
The
rising acceptance of the notion that fermented non-dairy
non-alcoholic beverages are beneficial for improving gut health, as
they help introduce healthy microflora in the gut help fight
digestive disorders, is leading to the adoption of fermented
non-dairy non-alcoholic beverages. For example, kombucha tea in the
fermented soft drinks category is increasingly becoming popular as it
is associated with improving gut health.
The
rising number of lactose intolerant individuals is another key factor
propelling the fermented
non-dairy non-alcoholic beverages market. Fermented non-dairy
non-alcoholic beverages are free of lactose and contain essential
microflora that helps to improve the gut health of an individual.
Product
Offerings from Large Companies Limits Penetration of Regional
Beverages
On
the contrary, the availability of a range of fermented non-dairy
non-alcoholic drinks that are produced by large beverage
manufacturers is preventing regional drinks such as kvass and coconut
kefir to become popular.
Low
awareness about fermented non-alcoholic non-dairy beverages among
individuals in developing countries is also limiting the market’s
growth.
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