The popularity of kombucha is rising at an accelerated pace. By 2030 alone, the global kombucha market value is expected to reach US$ 1,884.9 Mn, according to the Future Market Insights. The market is unlikely to lose its momentum any time soon. Between 2020 and 2030 it is projected to rise at a CAGR of 16%, despite the current interruptions in logistics due to the unprecedented spread of COVID-19.
Beverage brands from across the globe are looking to capitalize on the kombucha boon. They are launching new kombucha-based drinks with bold claims of various health benefits. Success witnessed by kombucha brands is majorly steered by the rising consumer preference for functional drinks. It seems that the market has fewer hindrances except mixed clinical evidences on kombucha benefits.
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Be it as it may, the kombucha market has witnessed meteoric rise in popularity in developed markets in the last decade. Bolstered by the strength of health-focused marketing campaigns, the demand for kombucha is poised to surge as soon as economies move past the coronavirus crisis.
“The sales of organic products has outperformed growth witnessed in the non-organic sector, with considerable increase in the purchase of functional food and beverages. Spurred by this, the kombucha sales is expected to rise as consumers post COVID-19 outbreak are likely to seek out products derived from organic sources and packed with health benefits,” said a lead analyst at FMI
The FMI study delves deeper into the prevailing dynamics to offer interesting insights into the kombucha market. Some of these are:
- Kombucha is available in a gamut of flavors, ranging from berries to herbs and spices. Growth witnessed in the herbs and spices segment is expected to rise at 18% over the forecast period.
- North America and Europe are expected to remain the dominant markets for kombucha. Collaborations between popular kombucha brands and local restaurants and cafes will give significant impetus to the market across these regions.
- Expansion of organic retail shops to bode well for the kombucha market. Flavored kombucha is often among the best-selling products in these stores.
- Heightened focus on health and wellness among consumers due to COVID-19 outbreak will enable the market gain pace in the coming years.
The global kombucha market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Herbs & Spices
- Coconut & Mangoes
- Food and Drink Specialty Store
- Convenience Store
- Online Retail
- Glass Bottles
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Kombucha, Touted for its Many Health Benefits, to Witness Skyrocketing Sales
Success witnessed in the global kombucha market is majorly steered by the rising demand for healthier alternatives to carbonated drinks. The unprecedented outbreak of the novel coronavirus and easy access to information have rendered consumers more aware than ever before. As per data published by an AI powered food intelligence start-up Tastewise, the mention of “immunity” in food searches rose by an impressive 27% between February 2019 and March 2020. Kombucha is among the grocery items that has particularly witnessed uptick interest since the onset of COVID-19. The rising inclination towards the consumption of organic food entails growth prospects for the kombucha market.
Who is winning?
The kombucha market is a consolidated one, with 50% to 60% of its share belonging to a handful of companies. Although several aspiring manufacturers have mushroomed around the world, lion’s share of the market remains with top manufacturers, mostly belonging from the U.S. In order to make their presence felt, a majority of companies are focusing on advertising. Bold claims with regards to the health benefits of fermented tea and marketing their brands as miracle elixir are common strategies followed especially by local manufacturers to strengthen their foothold in the market. Other than this, leading brands are focusing on product launches and expansion to drive their sales.
- For instance, Starbucks Corporation began offering kombucha under its brand Evolution Juice, starting 2018.
- In 2018, RISE Kombucha ventured into expanding its market across the U.S.
Get Valuable Insights into Kombucha Market
Future Market Insights, in its new report, presents an unbiased analysis of the global kombucha market, covering historical demand data and forecast figures for the period between 2020 and 2030. The study divulges compelling insights into growth witnessed in the market. In terms of flavour, the market can be segmented into regular, herbs & spices, berries, citrus, apple, coconut & mangoes, flowers, and others. Based on sales channel the market can be segmented into food and drink specialty stores, hypermarkets/ supermarkets, convenience stores, and online retail. In terms of packaging the market can be bifurcated into glass bottles and cans. Regionally, the market covers North America, Latin America, Europe, Japan, Asia Pacific excluding Japan, and the Middle East and Africa.