Fermented Food and Drinks Market size is set to grow by USD 846.73 billion from 2023-2027, Anheuser Busch InBev SA, Carlsberg AS and Chobani Global Holdings LLC, and more to emerge as Some of the Key Vendors, Technavio
NEW YORK, April 10, 2024 /PRNewswire/ -- The global fermented food and drinks market size is estimated to grow by USD 846.73 bn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 7.16% during the forecast period. APAC held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 44%.
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Major Players in the Market
Numerous companies are capitalizing on this growing trend by implementing strategic measures such as alliances, partnerships, mergers, and acquisitions. Among the notable players in the cheese based snacks market are:
Anheuser Busch InBev SA, Carlsberg AS, Chobani Global Holdings LLC, Chr Hansen Holding AS, COFCO Corp., Constellation Brands Inc., Danone, DuPont de Nemours Inc., Fonterra Cooperative Group Ltd., General Mills Inc., Heineken NV, Koninklijke DSM NV, Lifeway Foods Inc., Nestle SA, PepsiCo Inc., Suntory Beverage and Food Ltd., The Coca Cola Co., The Kraft Heinz Co., Treasury Wine Estates Ltd., Yakult Honsha Co. Ltd.
Analyst Review
The Fermented Food and Drinks Market continues to gain significant consumer interest due to the health and wellness benefits associated with these products. Culinary experiences that incorporate fermentation procedures offer unique flavors, textures, and nutritional content that cater to evolving consumer preferences. The digestion process is improved through the consumption of fermented foods, aiding in weight management and obesity prevention. Innovations in fermentation techniques have led to the production of functional beverages, providing remedies for various health problems, including digestive disorders. The sensory attributes of fermented foods and drinks, such as their nutritive value, digestibility, taste, and bioactive molecule content, contribute to their antioxidant activity and overall health benefits.
Key Market Drivers
The Fermented Food and Drinks Market continues to expand, with vendors prioritizing food preservation, nutritional quality, and food safety through innovative packaging solutions. Stand-out choices include stand-up pouches for fermented items, which are not only easier to carry but also increase the likelihood of these products becoming staple grocery items. Advances in fermentation processes ensure live microbes remain active, reducing contamination risk and toxicity. The market caters to various consumer needs, from infant probiotics to fermented alcoholic beverages like beer, wine, and Bottlebrush Ferments. These functional beverages offer bioactive molecule content and antioxidant activity, addressing health problems and fueling consumer interest in health, wellness, and culinary experiences. Constellation Brands and others lead the way with dairy-based and plant-based fermented foods, catering to diverse consumer preferences and offering flavor, texture, nutritional content, and extended shelf life. Innovations in fermentation procedures and health benefits, such as immunity, digestion, and gut health, further drive market growth.
Challenges and Opportunities
The Fermented Food and Drinks Market holds historical significance, with probiotic content being a key driver. Consumer health consciousness has led to an increased focus on anti-inflammatory, antifungal, antioxidant, and anti-atherosclerotic properties. Producers innovate by incorporating prebiotics and probiotics, natural compounds, and even transforming dietary supplements into fermented foods. Supermarkets, specialty stores, and online platforms expand the consumer base. Environmental sustainability and minimal environmental impact are crucial, with smart packaging techniques preserving products. The digestion process, weight management, and obesity prevention are linked to fermentation. Sensory attributes and nutritive value are essential, with taste playing a significant role. Fermented foods, including vegetables, meat, and dairy products, boost the immune system and provide energy. Veganism and plant-based diets have led to the popularity of fermented foods like Kimchi, Tempeh, Sauerkraut, Kefir, Yakult, and Fermented beverages. The market faces challenges from substitute products, but innovation continues with Kefir culture and Kefir grains.
The Fermented Food and Drinks Market encompasses the production and consumption of preserved foods and beverages, leveraging the fermentation process to enhance nutritional quality and food safety. Base expansions include infant probiotics, capitalizing on the gut microflora benefits of live microbes. Food preservation through lacto-fermentation of vegetables and dairy-based fermented foods, such as yogurt and raw cheese, offers immunity-boosting, antioxidant-rich nutrients. Contamination risk and toxicity concerns are addressed through stringent production processes. Fermented alcoholic beverages, like beer, wine, and Bottlebrush Ferments, contribute to the market's growth, offering health benefits and unique culinary experiences. Functional beverages, including Remedy Kombucha, cater to consumer interest in health, wellness, and digestive disorders. Innovations in fermentation procedures, flavor, texture, and nutritional content extend shelf life and cater to diverse consumer preferences. Constellation Brands and other market leaders capitalize on the growing trend towards healthy eating habits and the health benefits of fermented foods and drinks.
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Market Overview
The Fermented Food and Drinks market encompasses a wide range of products, including but not limited to probiotics, alcoholic beverages, and traditional foods. Consumers are increasingly seeking out these products for their health benefits, such as improved digestion and boosted immunity. Probiotics, in particular, have gained significant popularity due to their ability to promote gut health. Alcoholic beverages, such as wine, beer, and spirits, are also a significant part of the market, with consumers drawn to their unique flavors and cultural significance. Traditional fermented foods, like sauerkraut, kimchi, and kefir, are also experiencing a resurgence in popularity due to their nutritional value and distinct tastes. The market for fermented foods and drinks is expected to grow significantly in the coming years, driven by increasing consumer awareness and demand for these products. Producers are responding to this trend by innovating and expanding their offerings, providing consumers with a diverse range of options to choose from.
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Website: www.technavio.com/
SOURCE Technavio
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