The global fermented foods and beverages market is set to achieve a remarkable value of $1,001.58 billion by the year 2030, according to the latest report by Meticulous Research, a leading global market research company.
This anticipated growth represents a Compound Annual Growth Rate (CAGR) of 6.3% from 2023 to 2030. This growth projection can be mainly attributed to a recent surge in consumer awareness about the health advantages associated with consuming fermented foods and beverages as per the report.
Moreover, the report notes that the recent few years have witnessed a rising inclination towards wholesome nutrition, and an increasing affinity for probiotic-infused edibles among consumers. These factors are seen as having the ability to propel the expansion of the global fermented foods and beverages market to previously unseen levels.
Furthermore, it is noted that the increasing vegan populace and escalating consumer preference for plant-based comestibles are poised to provide an additional impetus to the sector's growth.
However, according to the report, stringent regulations governing the fermentation processes for food and beverage items have emerged as a challenge in the trajectory of this market's expansion. Notably, consumers are increasingly apprehensive about potential contamination and health risks stemming from fermentation practices. In essence, these fears have cast a shadow the industry’s growth prospects.
Insights From the Market Meticulous Report
The report includes historical market data for the years 2021 and 2022, up-to-date projections for 2023, and reliable estimates continuing to 2030. The study includes a thorough product breakdown that includes fermented foods including dairy goods (yogurt, kefir, cheese, sour cream, and other derivatives), bakery and confectionery products (breads, cakes, and related items), vegetables, meat, fish, and a variety of other fermented foods. Likewise, alcoholic versions of fermented drinks like wine, beer, and others are separated from non-alcoholic alternatives like juices and herbal teas.
The report delineates ingredient categories, encompassing probiotics, amino acids, organic acids, vitamins, industrial enzymes, and other constituents integral to the fermentation process. The report also takes time to closely examine distribution channels. For instance, the report notes that supermarkets and hypermarkets, convenience stores, specialty outlets, E-commerce platforms, and other avenues are emerging as reliable channels for distribution of fermented foods.
When it comes to product segmentation, the report forecasts that the fermented foods segment will hold the lion's share in the fermented foods and beverages market for the year 2023. This prediction is underpinned by the burgeoning demand for fermented food items due to their myriad health benefits, including antioxidant, anti-fungal, anti-inflammatory, anti-microbial, and anti-atherosclerotic attributes.
The ever-increasing consumer spending on health-conscious choices, alongside the burgeoning global food industry, contributes to the growth. Within this segment, dairy products are poised to dominate, driven by the escalating global demand for dairy products, and the predilection for fermented dairy derivatives among lactose-intolerant individuals due to their enhanced digestibility.
Furthermore, the report outlines the dominance of the probiotics segment within the ingredients category for 2023. Rising consumer awareness about the health perks linked to probiotic-enriched edibles, which encompass enhanced digestive health, immune functions, and weight management, is predicted to be the driving factor for this trend.
Regionally, the report points out that Asia-Pacific region is expected to emerge as a key market player in 2023, bolstered by a thriving food industry, innovative advancements in the fermented foods and beverages sector, increased disposable incomes, urbanization, and consumer preference for nutritional options.
The burgeoning consumption of fermented food and beverage products across China, Japan, Korea, and India further augments this region's significance in the market landscape.
The report also highlights major industry players, including Anheuser-Busch InBev NV/SA, Archer Daniels Midland Co., BASF SE, Cargill, Incorporated, Chr. Hansen Holding A/S, Constellation Brands, Inc., Danone S.A., Fonterra Co-operative Group Limited, International Flavors & Fragrances Inc., Koninklijke DSM N.V., Nestle S.A., PepsiCo, Inc., and Yakult Honsha Co., Ltd.
In conclusion, the fermented foods and beverages market's growth trajectory is fueled by escalating consumer awareness of its health benefits, a preference for wholesome sustenance, and a mounting global appetite for probiotic-rich edibles. This dynamic industry is poised to reach the remarkable milestone of $1 trillion by 2030, underpinned by these key factors and a continually evolving market landscape