The kvass market is witnessing remarkable growth, with a projected CAGR of 9.8% from 2021 to 2032, reaching a valuation of US$ 7.3 billion. This growth is driven by increasing competition and rising demand for kvass, with new competitors offering a variety of options at competitive prices to cater to global consumers.
The demand for kvass is on the rise due to several factors. Firstly, as a low-fermented alcoholic or non-alcoholic drink with nutritional benefits, kvass is increasingly viewed as a healthy beverage option. With consumers becoming more health-conscious and seeking balanced diet options, kvass serves as a suitable choice, providing essential nutrients like fat, carbohydrate, fiber, sugar, proteins, and calories. Additionally, the fast-paced lifestyle and unhealthy eating habits prevalent in modern society have further fueled the demand for kvass as a healthful alternative.
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Growing Factors:
- Health Consciousness: Increased awareness of the harmful effects of obesity and the importance of maintaining a healthy lifestyle are driving consumers towards healthier beverage choices like kvass. Its nutritional profile and potential health benefits make it an attractive option for those seeking to maintain a healthy body mass index.
- Changing Lifestyles: Urbanization and changing lifestyles have led to a surge in demand for healthful products like kvass. As consumers become more affluent and health-conscious, the consumption of kvass as an energy drink and nutritious beverage is expected to rise.
- Global Market Expansion: Central and Eastern European regions, North America, and the Asia Pacific are key regions driving the growth of the kvass market. Expanding young populations and rising health and fitness trends in these regions are contributing to increased sales of kvass.
Increase in Consumer Awareness is Driving the Demand for Kvass
Fast life, an unhealthy and unbalanced diet has prophesied to serve kvass as one of the balanced and healthy beverages. Due to frantic habit and lifestyle, metabolism is supposed to be disturbed that causes a change in body mass index. In the current scenario, according to the World Health Organization (WHO), 31% of the world adult population are considered under the obese category.
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Kvass Market: Key Participants Few key market players in the Kvass market are:
- Deka Spb OOO
- Joint Stock Company ‘Krinitsa’
- Baltika Brewery
- UAB Vilniaus Prekyba
- Olimp Imperial OOO
- AB Gubernija
- MPBK Ochakovo
Kvass Market Segmentation
The Kvass market can be segmented on the basis of nature, flavor, and sales channel:
The Kvass market can be segmented on the basis of nature as:
- Organic
- Conventional
The kvass market can be segmented on the basis of the flavor as:
- Apple
- Beets
- Bird cherry
- Lemon
- Cherry
- Cranberry
- Mint
- Strawberry
The Kvass market can be segmented on the basis of the sales channel as:
- B2B
- B2C
- Store Based Retailing
- Modern Grocery Retailers
- Convenience Stores
- Discounters
- Forecourt Retailers
- Hypermarkets
- Supermarkets
- Traditional Grocery Retailers
- Food Specialist
- Independent Small Grocers
- Other Grocery Retailers
- Online Retailing
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