Seattle, WA -- (SBWIRE) -- 02/14/2020 -- Global Kefir Market - Insights
Kefir is a fermented drink made from kefir grains and retains the consistency of drinkable yogurt. Kefir grains can be described as combination of bacteria and yeasts living on a substrate, made up of various dairy components. Kefir is manufactured using cow, sheep or goat's milk. Additionally, kefir, being a milk product contains high amount of calcium, which enhances body immunity and builds bone density. Furthermore, kefir has high content of vitamin B12 and K2, biotin, magnesium, enzymes, vitamin, probiotics, and folate.
Growing awareness about health benefits associated with consumption of kefir is expected to propel the growth of the kefir market. Consumption of kefin helps in fighting against cancer and destroys aflatoxins. Aflatoxins are poisonous carcinogens found in improperly stored staple commodities, including corn, peanuts, cassava, chili peppers, wheat, rice, cottonseed, millet, sesame seeds, sorghum, sunflower seeds, and a variety of spices. Kefir is increasingly used as a dietary supplement, which in turn, is expected to drive growth of the market.
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Kefir contains high amount of good bacteria that aids in digestion, and accounts for a broader nutrient content compared to yogurt. This, in turn, results kefir as a highly beneficial product for lactose intolerant population, which is one of the major factors that is expected to drive growth of the market.
However, high production costs of kefir and weak presence of the major manufacturers operating in this field in the developing economies such as Asia Pacific and Latin America are some of the factors that are expected to hamper growth of the market.
In terms of revenue, Europe held a dominant position in the market in 2016, accounting for over 45% market share, and is expected to retain its dominance over the forecast period. This is attributed to its wide range of application in several food items such as sauces, dips, and ice-creams. Moreover, kefir is highly preferable for obese and gastric patients, as it improves metabolism and smoothens bowel movement. Furthermore, rising number of gastric patients and increasing obese population in the region are expected to drive market growth of kefir in the region. According to the World Health Organization (WHO), in 2017, obesity or overweight is considered to be the root cause of around 2.8 million deaths each year globally. Furthermore, obesity in Europe has increased significantly over the past few years. For instance, according to Coherent Market Insights, in 2016, around 30% of the entire population in England were found to be obese, most of them falling in the age group of 55 and above. Moreover, U.K. ranks higher in terms of obesity compared to France and Germany, accounting for a share of 27.3%, while Germany accounted for 24.6%, and France accounted for 17.5%. Furthermore, U.K. recorded around 6,980 cases of stomach cancer in 2016, which was mainly prevalent among the male population. Growing gastric and stomach cancer cases are expected to increase demand for kefir, as it is highly effective against gastritis and gastric ulcers. This, in turn, is expected to propel growth of the market over the forecast period.
Asia Pacific accounted for below 20% market share due to weak penetration of major manufacturers of kefir operating in the region, which in turn, results in the low availability of kefir. Furthermore, kefir is positioned as a substitute for dairy products, such as processed cheese, butter, cottage cheese and clarified butter, however, the populace in the region is more inclined towards consumption of such products rather than kefir. This, in turn, restrains the growth of the market for kefir in the region. However, this trend is expected to change in the future due to growing awareness about the benefits associated with kefir such as anti-carcinogenic properties, anti-allergic properties, and various others. In addition, changing consumption pattern of the populace in this region, and the rising inclination towards the consumption of healthier food items, are expected to drive growth of the market in the near future.
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In 2017, the overweight and obese population in Asia Pacific reached 1 billion, which has resulted in the region spending over US$ 160 billion on healthcare. This factor is expected to drive demand for kefir over the forecast period. Furthermore, strengthening economic condition of countries such as India, China, and Japan among others are expected to lure the major manufacturers operating in this field to penetrate these markets for better investment opportunities and to cater to a broader consumer base.
Among compositions, milk segment held a dominant position in the kefir market in 2016. Among applications, the dietary supplements segment held a dominant position in the market in 2016, and is expected to retain its dominance over the forecast period.
The global kefir market is marked by intense competition from major manufacturers operating in this market. Strategic mergers and acquisitions, product innovations, and joint ventures, among others, are some of the key strategies adopted by these companies to ensure long-term sustenance in the market. Some of the major players operating in the market include Groupe Danone, Lifeway Foods Inc., Hain Celestial Group, and Fresh Made Inc. among others.
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