The global market for fermented non-dairy non-alcoholic beverages is anticipated to demonstrate a healthy growth rate in the forthcoming years, as reported by Transparency Market Research (TMR). The market features consolidation at present, and is likely to continue being in this state in the coming years as well. A handful of players are focused on the development of innovative products with an aim to capture an audience form the millennials. Vendors are increasingly adopting strategies such as venturing into new and potential markets such as the Middle East, in order to thrive in the competition and tap into the unexplored market potential. Prominent names in the global fermented non-dairy, non-alcoholic beverages market are Millennium Products Inc., GT’S LIVING FOODS, FENTIMANS, Good Karma Foods Inc., KeVita Inc., Konings N.V., Thurella AG, and Health-Ade Llc.
The report predicts that the global fermented non-dairy non-alcoholic beverages market will rise at a steady 5.2 % CAGR over the forecast period 2017 to 2025. The market was estimated to be at US$1,655.1 mn in 2017, and is predicted to rise to US$2,483.8 mn by the end of the forecast duration.
Among the product segments, fermented soft drinks held nearly 60% of the entire market share in 2017, making it a leading product segment. This trend is expected to continue over the forecast period. Currently, Asia Pacific leads the global market in terms of regional segmentation.
Swaying Consumer Inclination towards Veganism to Drive Market
The expanding number of people all over the globe that are converting to veganism is due to factors such as social or religious confinements, or essentially on account of awareness that vegan eating habits keeps a body healthier in the long term. These factors are increasingly driving the reception of fermented non-dairy non-non-alcoholic beverages. Further, concerns in regards to the insensitive treatment of animals for their milk/food derivatives is likewise assuming a critical part in the move towards vegan abstains from food.
The rising acknowledgment of the idea that fermented non-dairy non-non-alcoholic drinks are useful for enhancing gut wellbeing, as they help present sound microflora in the gut help battle stomach related scatters, is prompting the reception of fermented non-dairy non-non-alcoholic beverages. For instance, kombucha tea in the fermented soda pops class is progressively getting to be prevalent as it is connected with enhancing the overall health of the gut.
New Product Launches to Bolster Rich Opportunities
The worldwide fermented non-dairy non-non-alcoholic beverages market is showing a consistent development over the recent years driven by a couple of variables. Above all else, the persistent dispatch of new items by makers and mechanical progressions for forms for the creation of fermented non-dairy non-non-alcoholic beverages is foreseen to bode well for the market’s development in the up and coming years.
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The expansion sought after for non-alcoholic beverages is influencing the development of grains in this fragment, as grains, for example, sorghum, wheat, rye, grain, rice and millets, are the significant elements for the arrangement of non-alcoholic beverages. The same is relied upon to keep, amid the gauge time frame.