Description
As the pharmaceutical companies continue to expand their geographical presence, the presence of an integral element has stirred the markets. Kefir – an essential ingredient of many medicines, is in great demand these days. Due to increase in demand of healthcare industry, the demand of the essential ingredient of many medicines I,e Kefir has increased. The need for the product has been exceptional and has seen phenomenal growth in recent years. Here are the key elements in their report.
Understanding the Global Kefir Market
According to some reliable resources, the kefir market was valued at $1175.25 million back in 2016. The market is expected to grow at a compound growth rate of 7.3 percent. The market is about to reach a unique figure of $1925.90 million by the year 2023. Kefir is a key ingredient in medicines and dietary supplements and hence is propelled by the huge demand across continents.
Private Players in the Space
The range of products that can be derived out of kefir is endless. More and more companies are trying to produce new products in combination with other elements. The key players in the industry include giants like Hain Celestial, Dohler Group, Midland, Archer Daniels, Nestle S.A among many other bigger brands.
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Factors limiting the growth of the product
Kefir is naturally obtained from cow, goat, and coconut milk along with non-dairy based milk. Being a natural element, the resource cannot be mined up to its maximum. Marketers promote the product based on its healing powers, but factors like lactose intolerant individuals, robust supply chain, and packaging issues become a hindrance on the growth of the element. A considerable amount of money has already been spent on research and development. Food scientists are trying to create artificial kefir but have failed so far.
Key geographical regions
Kefir is a massive hit among the European nations because of its ability to provide instant energy. The product is a boon for health-conscious individuals who are searching for natural products without any side effects. The focus of other brands to market and sell similar products in and outside of Europe has propelled growth. Other major regions include Asia Pacific countries like China, India, South Korea, among many others.
Knowing Kefir Inside Out
Kefir represents a wide range of opportunities in the space. Some of the key products of the entity include low-fat kefir, frozen kefir, organic kefir, Greek-style kefir, among other principal products. The products are available in two variants, flavored and regular. This ensures that the product is healthy and exciting at the same time. On the other hand, the key ingredients include items like water kefir and milk kefir.
Important distribution channels
Kefir is used extensively to form a range of products. These products can range anything from the medicines to flavored dishes. The supply chain plays a vital role in the distribution of the products. Some of the critical places include grocery stores, supermarkets or hypermarkets, online stores, convenience stores, among many other distribution centers. The notable products include sauces, dairy products, and cosmetics.
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