Global Fermented Beverages Market Is Expected To Reach US$ 1,061.05 Bn By 2023: Credence Research
The latest market report published by Credence Research, Inc. “Fermented Beverages Market, By Raw Material Type, Type and Region – Growth, Future Prospects and Competitive Analysis, 2016 – 2023,” the global fermented beverages market 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.
Browse the full Fermented Beverages Market – Growth, Future Prospects and Competitive Analysis, 2016 – 2023 report at http://www.credenceresearch.com/report/fermented-beverages-market
Market Insights
The alcoholic fermented beverages market is growing due to increasing disposable incomes and changing lifestyles. With the rise in luxury living, the demand for quality beer and wine has also increased. However, now consumers prefers healthier alternative to strong alcohol drinks, such as alcoholic drinks with low alcohol content. Several breweries has already came up with innovative and new flavored beers such as chocolate, lemon and blueberry among various other flavors.
Non-alcoholic beverages, accounted for 0.92% share of the market in 2015 and projected to witness fastest growth over the next six years. The market for non-alcoholic fermented beverages is witnessing growth partly due to increased awareness about health benefits associated with it and mainly due to presence of large multinationals which are making non-alcoholic fermented beverages more accessible and visible for the consumer. Moreover, the launch of new products is stimulating the market growth. Rising demand for fortified food and beverages products is another factor propelling the market growth for non-alcoholic fermented beverages.
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Competitive Insights
The global fermented beverages market is highly fragmented due to presence numerous players in each segment. Moreover, none of the market players provides the entire product range. Merger, acquisitions and collaborations are the key strategies adopted by market players to enhance their market position.
Key Trends
- Launches of new products are stimulating the market growth
- Rising demand from emerging economies
- Large multinationals are making non-alcoholic fermented beverages more accessible and visible for the consumer
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