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Fermented Non-Dairy Non-Alcoholic Beverages Market To Reach A Valuation Of ~Us$ 3.2 Bn By 2029

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Fermented Non-Dairy Non-Alcoholic Beverages Market To Reach A Valuation Of ~Us$ 3.2 Bn By 2029

October 21
19:44 2021
Fermented Non-Dairy Non-Alcoholic Beverages Market To Reach A Valuation Of ~Us$ 3.2 Bn By 2029
The sales of Fermented Non dairy Non alcoholic Beverages Market is expected to reach ~376,100 metric tons in 2019, Fermented Non-dairy Non alcoholic Beverages Market will record a Y-o-Y growth of ~5% over 2019 to 2029

Fermented Non-dairy Non-alcoholic Beverages Market – Fickle Consumer Choices Uphold the Need for Product Innovation

The global fermented non-dairy non-alcoholic beverages market is estimated to record an improvement of ~4% volume growth in 2019 over 2018. A recent study published by Transparency Market Research (TMR) links the rising interest of the vegan populace in fermented drinks to the steady growth of this market. Considering social taboo, religious sentiments, and increasing focus on health to be the underlying influencers leading to growing vegan followers, the need to consume daily recommended nutrients holds enormous potential to channelize revenue from this demography to the fermented non-dairy non-alcoholic beverages market.

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Fermented drinks are making inroads on the shelves of functional beverages, given their health credentials, which is projected to broaden the clientele base for the market; however, the millennial population will upkeep its status of being the key consumers of these drinks. To cater to this mass and their fickle choices, market players need to introduce new flavors to enhance their brand value.

 

global fermented non dairy non alcoholic beverages market infographic

Product Innovation – Key Strategy to Achieve Twofer Advantages in the Market

Statistical data published in the report shows a volume uptake in the demand for fermented soft drinks by 4.5% in 2019, from 2018, as players in the fermented non-dairy non-alcoholic beverages market enrich these drinks with organoleptic properties.

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What further expands the fan-base for fermented soft drinks is their high nutritional value as compared to carbonated drinks. Also, sensing the integral role of yogurt in weight-loss diets, owing to its high protein content, market players find profitable opportunities to cater to lactose-intolerant individuals. The popularity of yogurt as a sensible nutritional choice, coupled with its dairy-free format, is anticipated to drive volume sales at a CAGR of ~7 percent during 2019-2029.

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The profound trend of product innovation implies that, investments in research & development activities will hold twofer attributes for market players to gain high returns and acquire a distinguished position in the fermented non-dairy non-alcoholic beverages market. The strategy is currently implemented by key manufacturers, including

  • Bionade GmbH
  • Reed’s, Inc.
  • KeVita, Inc.
  • Good Karma Foods Inc.
  • Thurella AG
  • Millennium Products, Inc.

Given the fickle food and beverage preferences of consumers, product innovation holds strong potential to attract and delight them.

What Should the Distribution Approach of Market Players Be?

The TMR study has found that, convenience stores will account for ~17 percent more volume sales as compared to modern trades. Convenience stores serve numerous locations, have shorter or absolutely no billing queues, and are open for longer hours, which makes these stores convenient for consumers to easily locate them and shop at their preferable time. However, higher per-unit prices of commodities in convenient stores are overshadowed by the popularity of modern trade, more than ever.

The popularity of supermarket and hypermarket distribution channels is growing even in rural areas, and discounts offered on bulk quantities of products differentiate the shopping experience of consumers, which is also likely to influence the sales of fermented non-dairy non-alcoholic beverages through modern trade. During the forecast period, with ‘price’ being the key parameter, modern trade are likely to drive sales at an exponential rate.

 

fermented non dairy non alcoholic beverages market segmentation

Analysts’ Opinion on Fermented Non-dairy Non-alcoholic Beverages Market

Authors of the report portend that, the market will advance at a steady growth rate. While the market remains consolidated at regional levels, market players operating at these tiers encounter barriers to penetrate their products in the international market. Also, the easy availability of traditional beverages makes it difficult for fermented drinks to outdo the shelf performance soft drinks, sodas, and yogurts.

Despite these challenges that have a profound impact, market players can implement two strategies to improve their overall sales. Since operation at only regional levels limits exposure in the global market, prominent players can invest in e-Commerce sales channels to remotely cater to the demands from overseas territories. Additionally, an effective campaigning approach to create awareness about the health implications of these drinks should be taken to safeguard high sales possibilities present in the fermented non-dairy non-alcoholic beverages market.

Fermented Non-dairy Non-alcoholic Beverages Market: Overview

  • According to Transparency Market Research’s latest market report on the fermented non-dairy non-alcoholic beverages market for the historical period of 2014-2018 and forecast period of 2019-2029, globally, revenue generated by the fermented non-dairy non-alcoholic beverages market has been estimated to be ~US$ 1.9 Bn in 2019. The global fermented non-dairy non-alcoholic beverages market is expected to expand at a CAGR of ~5% in terms of value throughout the forecast period. 

Asia Pacific Stands Out in Fermented Non-dairy Non-alcoholic Beverages Market in Terms of Sales and Growth

  • China stands at the highest point in terms of value in the fermented non-dairy non-alcoholic beverages market in Asia Pacific; it has ~30% market share, and is estimated to be the most the attractive region during the forecasted period. The fermented non-dairy non-alcoholic beverages market in India is estimated to grow at a CAGR of ~6% during the forecast period – the highest when compared to other countries in the region. Hence, it can be concluded that, China and India can be the best countries in Asia Pacific to invest in.
  • In MEA, the chances of growth of the fermented non-dairy non-alcoholic beverages market is estimated to be quite high, as this region is a fairly untapped market. Here, such specific products are labelled as premium products, and in that context, they come at quite high prices, which leads to an increase in the sales of fermented non-dairy non-alcoholic beverages in these areas, as premium products are ruling and trending in the market in the region. 

Fermented Non-dairy Non-alcoholic Beverages Market: Vegan Nature Driving Growth

  • A large part of the world population is shifting towards vegan diets, mostly due to ethical reasons. Moreover, the proven fact that vegetarian food is healthier than non-vegetarian food is driving the preference of many people toward vegan diets. In addition, concerns about the inhumane treatment of animals have also been playing a vital role in the steady shift towards vegan diets.
  • Consumers are becoming health conscious and more aware about the food that they are consuming. They have developed a habit of checking the nutritional facts and ingredients in the products that they are purchasing. As such, vegan diets are trending around the world owing to their numerous health benefits.

Health Attributes of Fermented Non-dairy Non-alcoholic Beverages Influencing the Purchase Decisions of Consumers

  • Due to changes in dietary patterns, a lot of people are suffering from gastrointestinal diseases. The main reason for this is high sodium intake. Due to these gastrointestinal diseases, the immunity power of people is also decreasing, as 70% of the body’s immunity starts from the gut. Hence, to fight such diseases, probiotic drinks have been trending, which will boost the sales of fermented non-dairy non-alcoholic beverages.
  • The demand for non-dairy kefir, non-alcoholic beer, kvass, and other fermented drinks is increasing, owing to developed taste among consumers across the globe, which is expected to lead to the growth of the fermented non-dairy non-alcoholic beverages market over the forecast period.

Manufacturers Launching Innovative Fermented Non-dairy Non-alcoholic Beverages to Attract More Consumers

  • Manufactures are playing cleverly by focusing on launching non–alcoholic fermented drinks, targeting both, the millennial and aged population. The millennial population is known to respond well for innovative flavors, and as such, manufactures have taken this as an opportunity and are introducing new flavored drinks in the market to boost the sales of fermented non-dairy non-alcoholic beverages.
  • In August 2017, KeVita, a subsidiary of PepsiCo, Inc., launched new flavors in its USDA Certified Organic Master Brew Kombucha product line, namely, Roots Beer and Blueberry Basil, in California, U.S. The intention was to launch new flavors for the summer season.

Fermented Non-dairy Non-alcoholic Beverages Market: Competitive Landscape

  • Key manufacturers in the global fermented non-dairy non-alcoholic beverages market, such as Thurella AG and KeVita, Inc, are trying to increase their global presence in developing countries. Tier I players include Thurella AG, KeVita, Inc, Good Karma Foods, Inc., and Millennium Products Inc., which account for more than five percent of the global players present in the fermented non-dairy non-alcoholic beverages market. Tier II players include Health-Ade Llc., Konings NV, Bionade GmbH, Reed’s, Inc., and some other players. Tier III usually consists of unorganized players in the fermented non-dairy non-alcoholic beverages market.

 

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