Redding, California, March 13, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Fermented Foods & Beverages Market by Product (Fermented Foods {Dairy Products, Vegetables}, Fermented Beverages {Alcoholic, Non-alcoholic}), Ingredient (Probiotics, Amino Acids), and Distribution Channel (Convenience Stores, E-commerce)—Global Forecast to 2030,’ the fermented foods and beverages market is projected to reach $1,001.58 billion by 2030, at a CAGR of 6.3% during the forecast period 2023–2030.
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Fermented foods and beverages are foods and beverages produced through controlled microbial growth and fermentation. In fermentation, live microorganisms are used to modulate and process plant-derived ingredients, resulting in products with unique flavors and nutritional profiles and modified textures. In the process of fermentation, several chemical changes occur in the components of the raw matrix, which results in products with improved nutritional properties and health effects. A higher bioactive molecule content and enhanced antioxidant activity are found in fermented milk, cereals, fruits & vegetables, meat, and fish. Thus, the key market players have been incorporating fermented fruits and vegetables into their products.
In the past few years, the fermented foods and beverages market has witnessed a rise in the number of new product launches. For instance, in November 2022, Arla Foods Ingredients Group P/S (Denmark) launched a whey-based solution for fermented beverages, allowing manufacturers to use it with thermophilic cultures for fermented drinks or mesophilic cultures for kombucha-style beverages.
The fermented foods and beverages market is segmented on the basis of product (fermented foods {dairy products {yogurt, kefir, cheese, sour cream, and other fermented dairy products}, bakery and confectionery products {breads, cakes, and other bakery and confectionery products}, vegetables, meat and seafood, and other fermented foods}, fermented beverages {alcoholic beverages {wine, beer, and other alcoholic beverages}, non-alcoholic beverages {juices, herbal tea, and other non-alcoholic beverages}), ingredient (probiotics, amino acids, organic acids, vitamins, industrial enzymes, and other ingredients), and distribution channel (supermarkets & hypermarkets, convenience stores, specialty stores, E-commerce, and other distribution channels). The study evaluates industry competitors and analyzes the market at the regional and country levels.
The Impact of COVID-19 on the Fermented Foods and Beverages Market
The COVID-19 pandemic adversely hit many economies around the globe. Complete lockdowns and quarantine restrictions were implemented to fight COVID-19, which adversely impacted many industries globally, including the food & beverage industry. The fermented foods and beverages market registered a slowdown in sales in the first quarter of 2020, mainly due to the disruption of logistics and transportation.
However, the outbreak of the COVID-19 pandemic positively impacted the fermented foods and beverages market. It resulted in increased consumer awareness regarding health and immunity. According to international scientific research, fermented foods support the immune system in fighting against viruses such as COVID-19. As a result, people started buying nutritional products in bulk quantities. The demand for fermented food and beverage products containing probiotics, vitamins, organic acids, and amino acids soared due to customers' increased willingness to buy in bulk during the lockdowns. This fueled the launch of numerous products to cater to the rising demand. Furthermore, manufacturers encouraged people to buy their products online to ensure customers’ safety.
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Social distancing, self-isolation, and lockdown measures forced many establishments to close down during the pandemic. In the U.K., the U.S., and Australia, supermarket chains started to enforce new rules to curb panic buying, while suppliers and factory workers implemented additional health and safety measures to keep consumers safe. Moreover, the manufacturers of fermented beverage products faced reduced consumption and disrupted supply chains. The food & beverage industry witnessed a slight decline due to the lockdowns imposed across various countries. All these factors impacted the demand for fermented foods and beverages.
Therefore, a complete halt in the transportation and logistics industry and reduced production in some countries due to lockdowns adversely affected the fermented foods and beverages market in terms of sales volume in 2020 and 2021.
Based on product, the market is primarily segmented into fermented foods and fermented beverages. In 2023, the fermented foods segment is expected to account for the larger share of the fermented foods and beverages market. However, the fermented beverages segment is projected to register the higher CAGR during the forecast period of 2023–2030, owing to the increasing preference for fermented beverages such as Kvass, Kombucha, and Kefir due to their health benefits, the growing demand for alcoholic beverages, and increased consumer health consciousness. In addition, the growing demand for alcoholic beverages such as wine and beer is further expected to support the growth of this market during the forecast period.
Based on ingredient, in 2023, the probiotics segment is expected to account for the largest share of the fermented foods and beverages market. The large market share of this segment is mainly attributed to the increased consumer awareness about the health benefits of probiotics, such as improved digestive health, immune health, and weight management, and rising health & wellness trends.
Based on distribution channel, the fermented foods and beverages market is segmented into supermarkets & hypermarkets, convenience stores, specialty stores, E-commerce, and other distribution channels. In 2023, the supermarkets & hypermarkets segment is expected to account for the largest share of the fermented foods and beverages market. However, the E-commerce segment is projected to register the highest CAGR during the forecast period 2023–2030. The high growth of this segment is attributed to the benefits of the E-commerce sales channel, such as the availability of a wide range of products, ease of access and affordability, higher discounts than offline stores, and home delivery services.
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Based on geography, Asia-Pacific is expected to account for the largest share of the fermented foods and beverages market in 2023, followed by Europe, North America, Latin America, and the Middle East & Africa. The major market share of Asia-Pacific is attributed to its well-established food industry, innovations in the fermented foods and beverages industry, increasing disposable incomes, growing population and rapid urbanization, and increasing consumer preferences for nutritional foods & beverages. Further, the rising consumption of fermented food and beverage products in growing economies like China, Japan, Korea, and India is expected to support the growth of this market during the forecast period.
However, the market in North America is slated to register the fastest growth during the forecast period 2023–2030, owing to the growing vegan population and rising consumer preference for plant-based foods. Moreover, the rising demand for probiotic-rich food and drinks, growing awareness about the health benefits of fermented vegetables, technological advancements in food fermentation, and the growing trend of plant-based snacking among consumers are further expected to boost the demand for fermented food and beverage products in the region during the forecast period.
The key players operating in the fermented foods and beverages market include Anheuser-Busch InBev NV/SA (Belgium), Archer Daniels Midland Co. (U.S.), BASF SE (Germany), Cargill, Incorporated (U.S.), Chr. Hansen Holding A/S (Denmark), Constellation Brands, Inc. (U.S.), Cosmos Food Co., Inc. (U.S.), Danone S.A. (France), Fonterra Co-operative Group Limited (New Zealand), International Flavors & Fragrances Inc. (U.S.), Koninklijke DSM N.V. (Netherlands), Nestle S.A. (Switzerland), PepsiCo, Inc. (U.S.), and Yakult Honsha Co., Ltd. (Japan).
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Scope of the Report:
Fermented Foods and Beverages Market, by Product
- Fermented Foods
- Dairy Products
- Yogurt
- Kefir
- Cheese
- Sour Cream
- Other Fermented Dairy Products
- Bakery and Confectionery Products
- Breads
- Cakes
- Other Bakery and Confectionery Products
- Vegetables
- Meat and Seafood
- Other Fermented Foods
- Dairy Products
- Fermented Beverages
- Alcoholic Beverages
- Wine
- Beer
- Other Alcoholic Beverages
- Non- alcoholic Beverages
- Juices
- Herbal Tea
- Other Non-alcoholic Beverages
- Alcoholic Beverages
Fermented Foods and Beverages Market, by Ingredient
- Probiotics
- Amino Acids
- Organic Acids
- Vitamins
- Industrial Enzymes
- Other Ingredients
Fermented Foods and Beverages Market, by Distribution Channel
- Supermarkets & Hypermarkets
- Convenience Stores
- Specialty Stores
- E-commerce
- Other Distribution Channels
Fermented Foods and Beverages Market, by Geography
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- Italy
- U.K.
- Spain
- Rest of Europe
- Asia-Pacific (APAC)
- China
- India
- Japan
- Australia
- South Korea
- Rest of APAC (RoAPAC)
- Latin America
- Brazil
- Mexico
- Rest of Latin America (RoLATAM)
- Middle East & Africa
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