Fermented Non-dairy Non-alcoholic Beverages Market to reach US$ 3.2 Bn
According to a new study by TMR, the sales of fermented non-dairy non-alcoholic beverages are expected to reach ~376,100 metric tons in 2019, and record a Y-o-Y growth of ~5% over 2019 to 2029. Growth of the fermented non-dairy non-alcoholic beverages market remains driven by a slew of factors, which range from increasing vegan population, rising number of lactose intolerant individuals, and rising number of smart consumers, owing to which, awareness about probiotics is increasing.
The idea of fermented non-dairy non-alcoholic beverages is quite niche, and had to be taken into consideration, as the number of people suffering from the adverse effects of consuming alcohol has increased, starting from drinking and driving, road accidents, to long-term health effects, even among the younger generation. Hence, an alternative to alcohol that is healthy and gives the same flavor is fermented non-dairy non-alcoholic beverages, which are also brewed in the same way as alcoholic drinks, and impart them the same taste too, but have zero alcohol content.
Fermented non-dairy non-alcoholic beverages are segmented into four product types, out of which, fermented soft drinks are expected to hold a prominent share of ~60% in 2019. This segment will be covering a major portion of consumers, mostly in the 18-24 age group.
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Fermented Non-dairy Non-alcoholic Beverages Market: Preferential Inclination towards Non-dairy Products
Growing concerns about health and wellness have led to consumers changing their lifestyles and habits. These have transformed their food preferences as well. Due to this shift, the demand for non-dairy products has increased, as the side effects of consuming dairy products have a long history of problems associated with them. Out of them, obesity is the major cause behind various life-threatening diseases such as osteoarthritis, rheumatoid arthritis, and cardiovascular diseases.
The number of people suffering from lactose intolerance has been increasing year over year. According to the latest survey performed in 2018 by Office on Women Health, around 30 – 50 million Americans are lactose intolerant. In women, it increases the risk of osteoarthritis.
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Nutritional Thrust through Innovative Ingredients Driving Demand
There has been increasing trust by the millennial population on fermented non-dairy non-alcoholic beverages, owing to their nutritional value and health benefits. Besides, millennials are also ready to spend more on good quality products. Moreover, manufacturers are investing huge amounts on research so as to launch innovative products in order to attract a range of consumers, in the process, enhancing their product portfolios. They are launching flavored products in various untapped fermented non-dairy non-alcoholic beverages markets, such as MEA, to enhance the sales of these beverages in such regions.
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Fermented Non-dairy Non-alcoholic Beverages Market: Competitive Landscape
Some of the prominent players operating in the global fermented non-dairy non-alcoholic beverages market have been profiled in the study. Key players operating in the fermented non-dairy non-alcoholic beverages market are Thurella AG, KeVita, Inc, Good Karma Foods, Inc., Millennium Products Inc., Health-Ade Llc., Konings NV, Bionade GmbH, Reed’s, Inc., and other fermented non-dairy non-alcoholic beverage players.