Kefir Market Size is Estimated to Value $1.46 Billion By 2027: Grand View Research, Inc Summary:

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Kefir Market Size is Estimated to Value $1.46 Billion By 2027: Grand View Research, Inc Summary:

August 16
05:52 2020
Kefir Market Size is Estimated to Value $1.46 Billion By 2027: Grand View Research, Inc Summary:

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, the global kefir market size was valued at USD 986.7 million in 2019 and is anticipated to witness significant growth in the forthcoming years.

The global Kefir Market size is expected to reach USD 1.46 billion by 2027, exhibiting a CAGR of 5.0% over the forecast period, according to a new report by Grand View Research, Inc. Consumers across the globe have been including items in their diet that are conducive to a healthier lifestyle. This has created opportunity for kefir products as they are known for their beneficial properties. Rapid adoption of kefir as fermented milk products among the consumers has propelled manufacturers to innovate and launch new products in order to increase visibility and market penetration.

For instance, in August 2019, COYO Pty Ltd., an Australia-based company, launched non-dairy kefir drinks. The product is a probiotic coconut milk and is available in four flavors, including natural, vanilla, mango, and strawberry. The product is available across U.S. and countries of Europe. It is available in bottles of 28 ounce, 200mL, and 500mL.The price ranges between GBP 2.95 and GBP 4.35. These products are certified for organic, dairy-free, gluten-free, grain-free, nut-free, sugar-free, and vegan.

Similarly, in August 2019, Astro, a subsidiary of Parmalat Canada Inc., launched kefir probiotic yoghurt and drinkable yoghurt. These products are available in three flavors, including plain, vanilla, strawberry or blueberry pomegranate. They contain various ingredients, including skim milk and milk powder, cream, active bacterial cultures, and natural flavor. The 500-gram yoghurt tub is available for USD 3.69 and an 8x100g multipack is available for USD 6.99.

Moreover, in March 2018, Biotiful Dairy Ltd. introduced Kefir Cheese that offers a healthier alternative to cottage cheese and cream cheese. The product is known to have a light and creamy taste and can be used to compliment a salad, crackers, and crunchy vegetables. The product is filling, nutritious, gut-friendly, protein rich, and low in fat. It is available in three flavors, including herbs and garlic, original, and red pepper and cumin.

In June 2019, BioZen launched sugar free fruit kefir in Brazil. The product includes blackberry and white grape with lemongrass. 95% of the consumer base comprises women and health-conscious individuals. The company is also trying to reach the men segment.

Kefir Market

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Kefir Market Report Highlights

  • Plant-based products are expected to expand at the fastest CAGR of 5.4% from 2020 to 2027 owing to growing adoption of veganism and increasing preference for these products among people who are allergic to milk
  • Online distribution channel is expected to expand at the fastest CAGR of 6.4% from 2020 to 2027. This channel is expected to remain one of the key shopping channels as it offers high level of convenience to the buyers
  • Europe dominated the kefir market with a share of more than 45% in 2019. The growth is attributed to high penetration of kefir in the households of Eastern Europe and Scandinavian countries
  • Key market participants include LIFEWAY FOODS, INC. AND SUBSIDIARIES, Maple Hill Creamery, LLC., Green Valley Creamery, Redwood Hill Farm & Creamery, Danone North America Public Benefit Corporation, Evolve Kefir, NANCY’S, The Icelandic Milk and Skyr Corporation, Forager Project, and New product launch is expected to remain a key success factor for the market players in the near future

Kefir Market Size

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Kefir Market Segmentation

Grand View Research has segmented the global kefir market on the basis of product, distribution channel, and region:

Kefir Product Outlook (Revenue, USD Million, 2016 – 2027)

  • Animal-based
  • Plant-based

Kefir Distribution Channel Outlook (Revenue, USD Million, 2016 – 2027)

  • Online
  • Offline

Kefir Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America
    • U.S.
  • Europe
    • U.K.
    • Russia
    • Switzerland
  • Asia Pacific
    • Japan
    • New Zealand
  • Central & South America
  • Middle East & Africa (MEA)
    • UAE

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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