The report segments the global fermented food and drinks market by product (fermented alcoholic and non-alcoholic drinks, fermented dairy food and drinks, and fermented bakery foods), by distribution channel (hypermarkets and supermarkets, specialty food stores, independent retailers and convenience stores, and online retailers), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global fermented food and drinks market, according to Technavio food and beverage researchers:
- Product launches: a major market driver
- Increasing use of fermented foods as ingredients in various foods and beverages: emerging market trend
- EMEA dominated the global fermented food and drinks market with 44% share in 2017
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Product launches: a major market driver
The demand for cultured dairy products in the global fermented food and drinks market is expected to increase due to new product development, improved taste and versatility, and high levels of marketing support. In the past few years, the global fermented food and drinks market has witnessed a rise in the number of new product launches.
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Increasing use of fermented foods as ingredients in various foods and beverages: emerging market trend
In developed markets such as the Americas and Western Europe, consumers are well aware of what they are consuming so, the familiarity of ingredients is being marketed as a USP of the products. Consumers are inclined towards cleaner and better ingredients and look for proper labeling of their products, which they can read and analyze the nutritional information of the product before making purchases.
According to a senior analyst at Technavio for research on food, “The growing popularity of fermented dairy products allows food and beverage product manufacturers to use fermented dairy foods as an ingredient for their product offering.”
Global market opportunities
In terms of regional dominance, EMEA dominated the global fermented food and drinks market, followed by the Americas and APAC in 2017. In EMEA, the demand for fermented alcoholic, non-alcoholic, and dairy products is high. In APAC, the market is expected to register the highest growth in terms of sale of fermented food and drinks especially fermented dairy, fermented alcoholic and non-alcoholic, and fermented bakery products. Factors like the rise in disposable income, Western dietary influences, and the boom in organized retail will augment such sale and increase the demand for fermented food and drinks in this region.
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