February 21, 2024

The Kombucha Market Is Driven By Rising Popularity Of Functional Beverages

Kombucha is a fermented drink made from green or black tea and sugar that is fermented using a “SCOBY” (Symbiotic Colony of Bacteria and Yeast). Kombucha is known for its probiotic properties and is considered beneficial due to presence of various compounds like organic acids, polyphenols, amino acids, and vitamins. Kombucha is gaining popularity due to rising health consciousness among consumers and growing preference for beverages with functional benefits. The global kombucha market witnesses rising demand for healthier alternatives to carbonated drinks and juices.

The global Kombucha Market is estimated to be valued at US$ 3.4 Billion in 2024 and is expected to exhibit a CAGR Of 6.2% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The kombucha market is witnessing rising innovations with introduction of various new flavors. Major players are focusing on leveraging flavor innovations to attract newer consumer base. For instance, Kevita launched several new product lines in exotic flavors like Pineapple Passionfruit and Blood Orange Ginger. Similarly, GT’s Kombucha introduced limited edition flavors like Mango Dragonfruit and Gingerade. Innovation in packaging is another key trend. Players are focusing on developing sleek and sustainable packaging solutions using materials like glass to attract environment conscious consumers. Rising popularity of online purchasing is also a key trend benefitting kombucha market. E-commerce platforms offer wider product exposure and availability to drive sales volumes.

Porter’s Analysis

Threat of new entrants: The kombucha market requires high initial investments for R&D, production facilities and marketing. This poses a medium threat of new entrants.

Bargaining power of buyers: The kombucha market has several buyers in the form of retail stores, supermarkets and online retailers. This gives buyers medium bargaining power.

Bargaining power of suppliers: The suppliers of raw materials like green tea, herbs and organic sugars have low-to-medium bargaining power due to availability of substitutes.

Threat of new substitutes: Products like yogurt and soda offer substitution. However, the health benefits of kombucha make the threat of substitutes medium.

Competitive rivalry: The kombucha market has several global and regional players. This leads to high competitive rivalry.

Key Takeaways

The Global Kombucha Market Demand is expected to witness high growth. The global Kombucha Market is estimated to be valued at US$ 3.4 billion in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030.

The market in North America dominates due to large health-conscious consumer base. Rising awareness about the probiotic health benefits of kombucha is driving its demand. The US accounts for the major share due to heavy consumption. Europe is also a major market driven by demand in Germany, France and UK. Asia Pacific is expected to grow at the fastest pace with increasing consumption in China, India and Japan.

Key players:

 

Key players operating in the kombucha market are Vinci, Bouygues, Grupo ACS, Hochtief, Balfour Beatty, Laing O€TMRourke, Bechtel, Kiewit, HOCHTIEF, Skanska. These players are focusing on new product launches, partnerships and mergers to strengthen their positions.

Tags : Kombucha Market, Kombucha Market Size, Kombucha Market Growth, Kombucha Market Trends, Food Ingredients

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Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it