Market Research Report
Global Kombucha Market - Growth, Trends and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||572804|
|Published||Content info||154 Pages
Delivery time: 2-3 business days
|Global Kombucha Market - Growth, Trends and Forecast (2019 - 2024)|
|Published: March 1, 2019||Content info: 154 Pages||
The kombucha market is forecasted to reach USD 5.2 billion by 2024, registering a CAGR of 17.50%, during the forecast period (2019 - 2024). Global consumption of kombucha market is driven by the consumer's inclination toward nutritional drink and started to prefer functional drinks over fruit juices and carbonated drinks. The market is competitive and driven by an increase in the trend of "health and wellness" and the growing consumer demand for all natural ingredients. Kombucha Breweries International (KBI) has been catering to the increasing need for the product by providing common resources and testing standards. As the identification of the alcohol content of kombucha is imperative for that, companies employed a standardized method to test and control.
The scope of the study on the kombucha market includes segmentation by type as original and flavored. Various flavors considered in the market study are herbs/spice, fruit, flower, and other flavors. The other flavored kombucha drinks considered are wine, coffee, chocolate flavored kombucha drinks. The market is segmented by distribution channel into supermarket / hypermarket, specialty stores, convenience stores, and online retail stores.
Increasing demand for Flavored Kombucha Drinks
Flavored drinks held the major market share in the kombucha market in 2018. The segment had experienced tremendous growth from the past 3-4 years, as the companies have developed traditional drinks with added exotic flavors, to attract consumers. Moreover, fruit-flavored drinks are expected to dominate the kombucha market in the coming years, due to their added nutritional profile. GT's Living Foods announced its new limited-edition offering for springtime, named Bloom, on April 16, 2018. The product portfolio includes a light, crisp, and floral flavor, combining fresh Elderflower, Jasmine, and Violet. The trend for natural, clean-label, and organic beverages is driving the market. However, growing awareness about the kombucha drink and the buzz of kombucha among weight management foods have also strived to an exponential growth rate.
Asia-Pacific is the Fastest Growing Regions
Asia-Pacific is the fastest growing region in the kombucha market. China is one of the leading markets for kombucha in the Asia-Pacific region. The popularity of packaged kombucha drinks in China remains attributed to their perceived health benefits. In India, the population suffering from joint health problems, like arthritis, is also seen getting attracted more toward kombucha, which is expected to drive the growth of the kombucha market over the forecast period. Owing to the rise in urbanization in the region, along with easy availability of kombucha in local retail shelves, especially in countries like Australia, China, Japan, among others are driving the growth of kombucha market in the region.
GT Living Foods, Kevita, Brew Dr, Kombucha, Health-Ade, Humm Kombucha LLC, Suja, etc. are some of the prominent players in the kombucha market. The market is fragmented, with the presence of numerous private label brands who have been expanding a variety of kombucha drinks in their product portfolio at a competitive price and attractive packaging, compared to global players. This has intensified the competition among players in the Kombucha market.