PUBLISHER: Meticulous Research | PRODUCT CODE: 1518334
PUBLISHER: Meticulous Research | PRODUCT CODE: 1518334
Fermented Foods & Beverages Market Size, Share, Forecast, and Trends Analysis by Product (Fermented Foods {Dairy [Yogurt, Kefir], Tofu, Vegetables}, Fermented Beverages {Alcoholic, Non-alcoholic}) and Distribution Channel (E-commerce)-Global Forecast to 2030.
According to the research report titled, 'Fermented Foods & Beverages Market Size, Share, Forecast, & Trends Analysis by Product (Fermented Foods {Dairy [Yogurt, Kefir], Tofu, Vegetables}, Fermented Beverages {Alcoholic, Non-alcoholic}), Distribution Channel (E-commerce)-Global Forecast to 2030,' the fermented foods & beverages market is projected to reach $1,001.58 billion by 2030, at a CAGR of 6.3% during the forecast period 2023-2030. The report provides an in-depth analysis of the fermented foods & beverages market across five major regions, emphasizing the current market trends, market sizes, recent developments, and forecasts till 2030.
Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts the impact analysis of the key industry drivers, restraints, opportunities, and trends. The growth of this market is mainly driven by the increasing consumer awareness regarding the health benefits of fermented foods & beverages, rising consumer preference for healthy food, and the increasing popularity of probiotic food & beverages among consumers. Moreover, the growing vegan population, and rising consumer preference for plant-based foods are expected to support the growth of this market.
Strict regulations on fermenting food & beverages pose a challenge to market growth. Concerns over contamination and potential health risks also hinder market expansion.
The key players operating in the fermented foods and beverages market include Anheuser-Busch InBev NV/SA (Belgium), Constellation Brands, Inc. (U.S.), Cosmos Food Co., Inc. (U.S.), Danone S.A. (France), Fonterra Co-operative Group Limited (New Zealand), Groupe Lactalis S.A. (France), Lifeway Foods, Inc. (U.S.), Heineken N.V. (Netherlands), Chobani, LLC (U.S.), Nestle S.A. (Switzerland), PepsiCo, Inc. (U.S.), Fermented Food Holdings, Inc (U.S.), and Yakult Honsha Co., Ltd. (Japan).
Based on product, the market is primarily segmented into fermented foods & beverages. In 2023, the fermented foods segment is expected to account for the larger share of the fermented foods & beverages market. The large market share of this segment is mainly attributed to the growing demand for fermented food products due to their various health benefits such as antioxidant, anti-fungal, anti-inflammatory, anti-microbial, and anti-atherosclerotic properties, rising consumer spending, the growing global food industry, and consumer inclination toward healthy foods. In addition, the fermented foods market is further segmented into dairy products, bakery & confectionery products, tofu, vegetables, tempeh, meat & seafood, and other fermented foods. The dairy products segment is expected to account for the largest share of the fermented foods market in 2023 due to the growing demand for dairy products across the globe. In addition, consumers who are lactose intolerant prefer fermented dairy products as they are easy to digest as compared to unfermented milk.
Based on distribution channel, the fermented foods & beverages market is segmented into supermarkets & hypermarkets, convenience stores, specialty stores, e-commerce, and other distribution channels. The e-commerce segment is projected to register the highest CAGR during the forecast period from 2023 to 2030. The high growth of this segment is driven by the benefits of the e-commerce sales channel, such as the availability of a wide range of products, ease of access & affordability, higher discounts than offline stores, and home delivery services.
An in-depth geographic analysis of the industry provides detailed qualitative and quantitative insights into the five major regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa), and the coverage of major countries in each region. In 2023, the Asia-Pacific region is expected to account for the largest share of the fermented foods & beverages market, followed by Europe, North America, Latin America, and the Middle East & Africa. The large market share of Asia-Pacific is attributed to growing innovations & new product development in the fermented foods & beverages industry, increasing disposable incomes, growing population & rapid urbanization, changing food consumption patterns, and increasing consumer preference for nutritional food & beverages. Also, growing consumer awareness about the health benefits of fermented foods & beverages and increasing adoption of convenience food products further support the growth of this market in the region.
However, the market in North America is poised to register the fastest growth during the forecast period 2023-2030, owing to the growing vegan population, and rising consumer preference for plant-based foods. Moreover, the rising demand for probiotic-rich food & drinks, rising awareness about the health benefits of consuming fermented vegetables, technological advancements in food fermentation, and the growing trend of plant-based snacking among consumers are expected to boost the demand for fermented food & beverage products in the region during the forecast period.
Fermented Foods and Beverages Market Assessment-by Product
Fermented Foods and Beverages Market Assessment-by Distribution Channel
Fermented Foods and Beverages Market Assessment-by Geography