24-Oct-2018 | Zion Market Research
Zion Market Research has published a new report titled “Kefir Market By Type (Organic Kefir, Greek Kefir, Frozen Kefir, and Low Fat Kefir), By Application (Dips & Dressings, Cosmetics, Drinks & Smoothies, Dairy Products, and Dietary Supplements), and By Flavor (Regular and Flavored): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, the global kefir market was valued at around USD 1.57 billion in 2017 and is expected to reach approximately USD 2.42 billion by 2024, growing at a CAGR of around 6.4% between 2018 and 2024.
Kefir is creamy and cultured food product similar to a drinking-type yogurt. Naturally present yeast and bacteria in kefir, symbiotically give superior health benefits through regular consumption. Kefir can be produced from different types of milk, such as cow milk, coconut milk, soy or rice milk, and goat or sheep milk. Traditionally, kefir is known as fermented milk produced by adding grains of kefir to milk. Within 24 hours, microorganisms present in the kefir grain multiply and performs the fermentation the milk sugar. Kefir originated from the parts of Southeast Asia and Eastern Europe.
The global kefir market is in a growth phase of the product lifecycle and is anticipated to register a considerable CAGR within the period of the forecast. The growth of the kefir market is largely due to the increasing consumer spending on drinks, beverages, and various dairy products. Various kinds of health benefits and medicinal properties associated with kefir are expected to enhance the demand for the kefir in different application segments in the near future. Furthermore, the increasing number of retail food services and rapidly evolving dairy & beverage industry throughout the developed and developing countries is projected to boost the expansion of the market for kefir within the forecast period.
Based on the type of product, the market for kefir is classified as organic kefir, Greek kefir, frozen kefir, and low-fat kefir. Organic kefir is gaining the popularity across different regions and the segment accounted for a major market share in terms of revenue in 2017. The increasing preference for organic food and beverages coupled with rising health-conscious among the global population is expected to fuel the growth of the organic kefir segment in the years to come. The second important segment is the Greek kefir. The other segments such as low-fat kefir and frozen kefir are expected to grow at a considerable CAGR over the forecast period.
On the basis of application, the market for kefir is classified into dips & dressings, cosmetics, drinks & smoothies, dairy products, and dietary supplements. A dietary supplement is a rapidly expanding segment and it accounted for a major market share in 2017, in terms of revenue. The dairy product is the second important segment and is expected to exhibit promising CAGR over the period of the forecast.
Based on the flavor, the market for kefir is classified into regular and flavored. Regular kefir is widely preferred by consumers, owing to its health benefits and nutritional importance. The segment registered major market share in terms of revenue in 2017. Flavored kefir is anticipated to register considerable growth over the period of forecast. The growth is attributed to changing consumer preference and high demand for diverse dairy products.
The Europe kefir market registered largest market share in 2017, in terms of revenue. The growth of the kefir market in the region is largely due to the high consumption of kefir. The second promising regional market for kefir is North America and it is estimated to register a promising growth rate within the forecast period. The growth in the region can be attributed to the rising expansion of application industries, including dairy products and fast food retail services in countries such as the U.S. and Canada. The market for the kefir in the Asia Pacific is estimated to record a stable growth within the forecast period with the rising number of retail food outlets, hotels, and restaurants. Furthermore, the rising number of health-conscious consumers in developing countries such as China and India is projected to boost the growth of the market for kefir in the Asia Pacific during the period of the forecast. The market for kefir in Latin America is estimated to expand due to the rapidly evolving dairy and beverage industry. The growth of the market for kefir in the Middle East and Africa is mainly due to the rising middle-class population.
Some of the major companies operating in the kefir market are competing for the major market share. These major companies are focusing on business expansion through new product developments and a wide & diverse product portfolio. Some of the key companies included in the global kefir market report are Hain Celestial, Lifeway Foods Inc., Kerry Group, Koninklijke DSM N.V., E.l du Pont de Nemours & Company, Archer Daniels Midland, Nestle S.A., Danlac Canada INC., Döhler Group, and Danone.
Browse the full "Kefir Market By Type (Organic Kefir, Greek Kefir, Frozen Kefir, and Low Fat Kefir), By Application (Dips & Dressings, Cosmetics, Drinks & Smoothies, Dairy Products, and Dietary Supplements), and By Flavor (Regular and Flavored): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/kefir-market
This report segments the global kefir market as follows:
Global Kefir Market: Type Segment Analysis
Global Kefir Market: Application Segment Analysis
Global Kefir Market: Flavor Segment Analysis
Global Kefir Market: Regional Segment Analysis
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