Fermented Non-dairy Non-alcoholic Beverages Market – Fickle Consumer Choices Uphold the Need for Product Innovation

 global fermented non-dairy non-alcoholic beverages market4%20192018

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Fermented drinks are making inroads on the shelves of functional beverages, given their health credentials, which is projected to broaden the clientele base for the market; however, the millennial population will upkeep its status of being the key consumers of these drinks. To cater to this mass and their fickle choices, market players need to introduce new flavors to enhance their brand value.



Product Innovation – Key Strategy to Achieve Twofer Advantages in the Market

4.5% 20192018

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carbonated drinkscarbonated drinksyogurtyogurt ~7percent 2019-2029

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non-alcoholic beveragesnon-alcoholic beverages

Bionade GmbH

Reed’s, Inc.

KeVita, Inc.

Good Karma Foods Inc.

Thurella AG

Millennium Products, Inc.

Given the fickle food and beverage preferences of consumers, product innovation holds strong potential to attract and delight them.

What Should the Distribution Approach of Market Players Be?

The TMR study has found that, convenience stores will account for ~17 percent more volume sales as compared to modern trades. Convenience stores serve numerous locations, have shorter or absolutely no billing queues, and are open for longer hours, which makes these stores convenient for consumers to easily locate them and shop at their preferable time. However, higher per-unit prices of commodities in convenient stores are overshadowed by the popularity of modern trade, more than ever.

The popularity of supermarket and hypermarket distribution channels is growing even in rural areas, and discounts offered on bulk quantities of products differentiate the shopping experience of consumers, which is also likely to influence the sales of fermented non-dairy non-alcoholic beverages through modern trade. During the forecast period, with ‘price’ being the key parameter, modern trade are likely to drive sales at an exponential rate.



Analysts’ Opinion on Fermented Non-dairy Non-alcoholic Beverages MarketAnalysts’ Opinion on Fermented Non-dairy Non-alcoholic Beverages Market

Authors of the report portend that, the market will advance at a steady growth rate. While the market remains consolidated at regional levels, market players operating at these tiers encounter barriers to penetrate their products in the international market. Also, the easy availability of traditional beverages makes it difficult for fermented drinks to outdo the shelf performance soft drinks, sodas, and yogurts.

Despite these challenges that have a profound impact, market players can implement two strategies to improve their overall sales. Since operation at only regional levels limits exposure in the global market, prominent players can invest in e-Commerce sales channels to remotely cater to the demands from overseas territories. Additionally, an effective campaigning approach to create awareness about the health implications of these drinks should be taken to safeguard high sales possibilities present in the fermented non-dairy non-alcoholic beverages market.

Fermented Non-dairy Non-alcoholic Beverages Market: Overview

 2014-20182019-2029US$ 1.9 Bn20195%

Asia Pacific Stands Out in Fermented Non-dairy Non-alcoholic Beverages Market in Terms of Sales and Growth

30%6%

In MEA, the chances of growth of the fermented non-dairy non-alcoholic beverages market is estimated to be quite high, as this region is a fairly untapped market. Here, such specific products are labelled as premium products, and in that context, they come at quite high prices, which leads to an increase in the sales of fermented non-dairy non-alcoholic beverages in these areas, as premium products are ruling and trending in the market in the region.

Fermented Non-dairy Non-alcoholic Beverages Market: Vegan Nature Driving Growth

A large part of the world population is shifting towards vegan diets, mostly due to ethical reasons. Moreover, the proven fact that vegetarian food is healthier than non-vegetarian food is driving the preference of many people toward vegan diets. In addition, concerns about the inhumane treatment of animals have also been playing a vital role in the steady shift towards vegan diets.

Consumers are becoming health conscious and more aware about the food that they are consuming. They have developed a habit of checking the nutritional facts and ingredients in the products that they are purchasing. As such, vegan diets are trending around the world owing to their numerous health benefits.

Health Attributes of Fermented Non-dairy Non-alcoholic Beverages Influencing the Purchase Decisions of Consumers

 70%

The demand for non-dairy kefir, non-alcoholic beer, kvass, and other fermented drinks is increasing, owing to developed taste among consumers across the globe, which is expected to lead to the growth of the fermented non-dairy non-alcoholic beverages market over the forecast period.

Manufacturers Launching Innovative Fermented Non-dairy Non-alcoholic Beverages to Attract More Consumers

Manufactures are playing cleverly by focusing on launching non–alcoholic fermented drinks, targeting both, the millennial and aged population. The millennial population is known to respond well for innovative flavors, and as such, manufactures have taken this as an opportunity and are introducing new flavored drinks in the market to boost the sales of fermented non-dairy non-alcoholic beverages.

August 2017of PepsiCo, Inc

Fermented Non-dairy Non-alcoholic Beverages Market: Competitive Landscape

Thurella AG and KeVita, Inc Tier I players include Thurella AG, KeVita, Inc, Good Karma Foods, Inc., and Millennium Products Inc.

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