Fermented beverages are beverages prepared with the process called fermentation. In this process, sugar is converted into acids, gases or alcohol. It occurs in yeast and bacteria and in some case of lactic acid fermentation it also occurs in oxygen-starved muscle cells. Global fermented beverages was valued at US$ 747.55 Bn in 2015, and is expected to reach US$ 1,061.05 Bn by 2023, expanding at a CAGR of 5.0% from 2016 to 2023.
Global fermented beverages are segmented on the basis of raw material such as grains, fruit juices, vegetables, and other raw materials. In 2015, grains was observed to be the largest application segment in global fermented beverages market and projected to maintain its dominance during the forecast period of 2016-2023. Rising demand for alcoholic drinks such as beer, wine and cider made up from various grains such as barley, rye, corn, sorghum, wheat, rice and millets is expected to fuel the growth of this segment over the forecast period. In terms of value, the grains segment stood at US$ 421.92 Bn with 56.44% market share in 2015. In 2016 to 2023, fruit juices raw material segment is expected to witness highest growth of 5.2% due to increasing consumer inclination towards healthy products.
On the basis of type global fermented beverages market is segmented as alcoholic beverage and non- alcoholic beverage. In 2015, alcoholic beverage was observed to be the largest segment by type in global fermented beverages market and projected to maintain its dominance during the forecast period of 2016-2023. Global fermented beverages market is segmented as per regions into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. In 2015, Asia Pacific was observed to be the largest market with over 37.20% revenue share in global fermented beverages. The segment is projected to grow at significant CAGR of 5.3% during the forecast period and expected to gain 80 basis points by 2023. Europe is the second largest market and expected to grow at the CAGR of 4.9% during the forecast period.
The report titled “Global Fermented Beverages Market - Growth, Future Prospects, and Competitive Analysis, 2016 – 2023” offers strategic insights into the global fermented beverages market along with the market size and estimates for the duration 2013 to 2023. The said research study covers in-depth analysis of multiple market segments based on raw material type, type and cross-sectional study across different geographies. The study covers the comparative analysis of different segments for the years 2015 & 2023. The report also provides a prolific view on market dynamics such as market drivers, restraints and opportunities.
In-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global fermented beverages market, offering market size and estimates for the period from 2016 to 2023, keeping in mind the above mentioned factors.
The global fermented beverages market can be categorized on the basis of raw material type as:
By raw material type the market is broadly segmented into four major categories such as grains, fruit juice, vegetables and other raw materials. In 2015, grains segment accounted for 56.44% share of the market and is projected to maintain its supremacy during the forecast period of 2016 to 2023. Grains such as barley, rye, corn, sorghum, wheat and rice are highly used in the production of fermented beverages such as beer, wine, kvass and boza among others. Fruit juice segment accounted for the second largest share of the market and projected to witness healthy growth in comparison to other segments. It is projected to grow at a CAGR of 5.2% from 2016 to 2023. Fermented drinks made from fruit juices offer a better alternative to strong alcohol drinks.
Vegetable segment is gaining momentum owing to rising demand for ginger beer and potato beer. Shift in trend towards well made, traditional and healthier products is propelling market growth. However, other raw materials segment is projected to witness below average growth rate during the forecast period of 2016 to 2023.
The global fermented beverages market can be categorized on the basis of type as:
In Alcoholic beverages, beer and wine together accounted for more than 95.00% share of the market and projected to maintain their market hold over the next six years. Beer is likely one of the oldest beverages and is certainly the first form of alcohol. Made by the fermentation of starches – cereal grains, rice, corn, etc. accounted for more than 65.00% share of the market in 2015. Just as beer, wine is also made by fermenting starches. This fermentation process is what gives these beverages their alcohol content. Another very popular alcoholic drink cider is made by fermentation of apples. It is a gluten free alternative to strong alcohol drinks such as beer. Cider segment is projected to witness healthy growth in comparison to other alcoholic beverages over the next six years. Innovation in product packaging and health benefits associated with it are some of the major factors propelling the market growth for cider.
In non-alcoholic beverages, kombucha accounted for 18.39% share of the market in 2015 and projected to witness fastest growth over the next six years. The market is witnessing growth owing to shift in consumer preferences towards healthy beverages coupled with rise in disposable income and changing lifestyle of individuals. Moreover, rising demand for fortified food and beverages products is another factor contributing towards the market growth. Kefir is gaining popularity owing to its functional benefits. The global kefir market is projected to grow at a CAGR of 11.4% from 2016 to 2023. Due to the increased popularity of kefir, the market leader Lifeway Food Inc. launched a series of products ranging from flavored kefir and Greek-style kefir to organic kefir. Other segment which includes sima and boza is projected to witness substantial growth over the next six years.
In 2015, Asia Pacific accounted for the largest share in the fermented beverages market and is projected to grow at a healthy growth rate over the next six years. Changing lifestyles coupled with rise in disposable incomes, growing urbanization are some of the factors fueling the market growth. Demand from China, India, Vietnam and Australia among others is fueling the growth of the market in this region. For beer, China is by far the largest market, due to its extremely competitive nature is also highly fragmented. Asia Pacific was followed by Europe, where demand from U.K. and Germany is boosting the market but growth is projected to be highest from countries in Eastern Europe.
North America accounted for the third largest share but projected to grow at significant rate during the forecast period owing rise in demand for kombucha, kefir and beer. Globally, demand for kombucha and kefir is high in developed markets, especially in the U.S. and in some countries of Europe. Emerging economies will be experiencing a strong upsurge in the demand for non-alcoholic beverages in the future.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Fermented Beverages market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
