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SEATTLE, Nov. 23, 2017 -- According to Coherent Market Insights, the kefir market was valued at US$ 1,233.6 million in 2016 and is projected to witness a CAGR of 8.35% over the forecast period (2017–2025). Kefir is a probiotic drink and health benefits associated with its consumption includes, improving immunity, increased bone strength, enhanced digestion, and reducing the risk of osteoporosis and asthma.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/kefir-market-1044
Key Trends and Analysis of the Kefir Market:
- Among product types, organic kefir segment held a dominant position in 2016 and is expected to retain its dominance throughout the forecast period. Increased demand for organic food among consumers in developed regions of Europe and North America has contributed to market growth. According to the U.S Department of Agriculture, 4% of total food sales in the U.S. in 2016 were organic products.
- Among distribution channel, the supermarket and hypermarket segments held a dominant position in the market in 2016. According to the Organic Trade Association, 93% of all organic product sales in 2016 were through these channels.
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Key Market Takeaways:
- Europe accounted for the largest revenue share in the global kefir market, followed by North America in 2016. Increased incidence of osteoporosis in these regions due to a rising geriatric population is expected to boost growth of the market. According to Population Reference Bureau, Statistics Canada and EU, the geriatric population in North America was 51 million and 94 million in Europe in 2016, which has bolstered the kefir market growth.
- Asia Pacific is projected to be the fastest growing region with CAGR of 9.04% over the forecast period. According to the American Chemical Society, on an average, 90% of the population in Japan, South Korea, and China suffers from some form of lactose mal-absorption which is expected to boost market growth in the region.
- Major players in the market include Lifeway Foods Inc., Groupe Danone, and Fresh Made Inc. Companies such as Bio-tiful Dairy, Wallaby Yogurt, and Lifeway Foods Inc. launched organic kefir products in 2017 in order to cater to increasing demand for organic kefir.
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