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Global Fermented Non-Dairy Beverages Market Aimed at Millennials
New York Ag Connection - 10/11/2017

Transparency Market Research (TMR), Albany, N.Y., in one of its recent publications, observes the global fermented non-dairy non-alcoholic beverages market to be largely consolidated and is likely to stay this way going ahead too. However, the dominance of a few established players renders competition in the global fermented non-dairy non-alcoholic beverages market. To outpace their competitors, key players are engaged in developing innovative products mainly to attract the millennial population. Penetration into newer markets such as countries in the Middle East that have not been tapped is also a noticeable growth trend observed in the global fermented non-dairy non-alcoholic beverages market.

Prominent companies in the global fermented non-dairy non-alcoholic beverages market to name are Thurella AG, Good Karma Foods Inc., Health-Ade Llc., FENTIMANS, KeVita Inc., Millennium Products Inc., Konings N.V., and GT'S LIVING FOODS.

"Shift to vegan diets is rapidly gaining pace predominantly among the urban populace," says an analyst at TMR. Considering this and various other factors, the global fermented non-dairy non-alcoholic beverages market is expected to be evaluated at US$1,655.1 mn by the end of 2017. Rising at a CAGR of 5.2% between 2017 and 2025, the global fermented non-dairy non-alcoholic beverages market is expected to become worth US$2,483.8 mn by the end of 2025.

Fermented soft drinks, by product type, is estimated to hold 59.7% market share in the overall market by 2017-end. Specialty stores, among the key sales channels, is expected to account for 25.7% market share by the end of 2017. Geographically, Asia Pacific holds the top position in the global fermented non-dairy non-alcoholic beverages market, whereas North America is anticipated to display the leading growth rate over the 2017-2025 period.

The global fermented non-dairy non-alcoholic beverages market is displaying a steady growth over the past couple of years driven by a few factors. First and foremost, the continuous launch of new products by manufacturers and technological advancements for processes for the production of fermented non-dairy non-alcoholic beverages is anticipated to augur well for the market's growth in the upcoming years.

The increasing number of individuals globally that are shifting to vegan diets due to factors such as social taboo, cultural or religious restrictions, or simply because of acceptance that vegetarian diet helps to stay healthy in the long run are driving the adoption of fermented non-dairy non-alcoholic beverages. Further, concerns regarding the inhumane treatment of animals for milk is also playing a significant role in the shift towards vegan diets.

The rising acceptance of the notion that fermented non-dairy non-alcoholic beverages are beneficial for improving gut health, as they help introduce healthy microflora in the gut help fight digestive disorders, is leading to the adoption of fermented non-dairy non-alcoholic beverages. For example, kombucha tea in the fermented soft drinks category is increasingly becoming popular as it is associated with improving gut health.

The rising number of lactose intolerant individuals is another key factor propelling the fermented non-dairy non-alcoholic beverages market. Fermented non-dairy non-alcoholic beverages are free of lactose and contain essential microflora that helps to improve the gut health of an individual.

On the contrary, the availability of a range of fermented non-dairy non-alcoholic drinks that are produced by large beverage manufacturers is preventing regional drinks such as kvass and coconut kefir to become popular.

Low awareness about fermented non-alcoholic non-dairy beverages among individuals in developing countries is also limiting the market's growth.

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