Fermented beverages are the drinks made up by fermentation of fruits, vegetables, grains, and other products such as milk, palm, honey, sugar, etc. Fermented beverages are of two types as alcoholic and non-alcoholic. Alcoholic beverages includes wine, tiswin, tapache, sake, palm wine, icarinne liquor, cider, chicha, and beer whereas, non-alcoholic includes tea, dairy products such as milk and milk products, honey, palm, Arenga pinnata, Borassus flabellifer, and Coconut. The global fermented beverages market is expected to grow at significant rate in near future, attributed to growing beverages industry and increasing demand for natural fermented products. Asia-Pacific except Japan has substantial growth in the global fermented beverages market, owing to rapidly growing population in countries such as China and India.
Global Fermented Beverages Market Segmentation: Dynamics,Regional Outlook And Market Player
The global fermented beverages market is segmented on the basis of raw material, product type, and region. Based on raw material, the global fermented beverages market segmented as grains, fruits, dairy, tea, vegetables, and others. Amongst raw material segment, fruits & dairy segments are expected to contribute for major revenue share and expected to expand at a significant growth rate in near future, followed by fermented tea beverages.
On the basis of product type, the global fermented beverages market is segmented as alcoholic beverages and non-alcoholic beverages. The alcoholic beverages segment possess significant market shares. Whereas, non-alcoholic beverages segment is expected to gain substantial growth in near future, owing to increasing number of health conscious consumers globally and consumers move towards adoption of healthy lifestyle, through consumption of natural sources based non alcoholic drinks.
Growth of the global fermented beverages market is driven by growing demand for alcoholic beverages, increasing awareness about advantages of fermented products, and increasing number of health conscious consumers demanding natural source based alcoholic and non-alcoholic fermented drinks. Changing consumer lifestyle, increasing per capita income, rapidly developing economy, employment rate, and rapid rate of urbanization are the macroeconomic factors driving the global fermented beverages market growth.
Growing beverages and pharmaceuticals industry are factors expected to slightly contributing the growth of the global fermented beverages market. Some of the factors trending the global fermented beverages market includes, growing technological advancement in the production process of fermented products, high investment in the food & beverages industry, and mergers & acquisitions between the supply chain members and manufacturers of fermented beverages. The companies operating in the fermented beverages market have significantly higher opportunity in Asia-Pacific attributed to the rapid growth of economy and population across the regions.
Increasing losses to vegetables and fruit growers due to issues related with transportation and storage as well as continues market price fluctuations, are other factors attracting fruits and vegetable processors to invest in fermentation machinery and manufacture fruits and vegetable based fermented beverages products.
Based on the geographies, global fermented beverages market is segmented into five regions; North America, Latin America, Europe, Asia-Pacific and Japan, and Middle East & Africa. Among regional segments, North America and Europe accounts for the major share of the global fermented beverages market with substantial growth rate, owing to high demand for alcoholic beverages across the regions. Asia-Pacific is expected to expand at a significant growth rate in near future, attributed to rapidly growing population and changing consumer lifestyle across the region. Overall, the outlook for the global fermented beverages market will have a positive growth over the forecast period, considering high demand for alcoholic beverages by consumers being counterfeiting factors.
Looking at growing market for fermented non-alcoholic and alcoholic beverages various existing players are launching new products as well as new players are entering into the market. Few players in the global fermented beverages market include Dohler, Fruit Ingredients, Sula Wines, Puna Noni Naturals, Caldwell etc.
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