April 24, 2024

The Kombucha Market Is Expected To Be Flourished By Rise In Health Conscious Consumers

Kombucha is a fermented, lightly effervescent tea that is brewed with a symbiotic culture of bacteria and yeast (SCOBY). Kombucha contains various active compounds and nutrients such as organic acids, polyphenols, amino acids, and vitamins. It is considered as a functional drink and consumed for its potential health benefits like improved gut health, energy boosting, mood lifting, etc. Kombucha is available in different flavors in the market and consumed as a substitute for sodas, juices, and carbonated drinks. The global kombucha market is driven by the rising health consciousness among consumers and growing demand for organic, non-GMO, and plant-based beverages.

The global Kombucha Market is estimated to be valued at Us$ 3.4 Bn in 2023 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 Dynamics:

The rising awareness about the potential health benefits of kombucha and growing preference for functional beverages are expected to drive the growth of the kombucha market over the forecast period. Kombucha contains live probiotic bacteria and antioxidants that promote gut health and boost immunity. With increasing cases of lifestyle diseases, consumers are focusing more on healthy beverage options like kombucha for weight management and overall wellbeing. The demand for organic and natural ingredients is also pushing the sales of kombucha across various regions.

Market Dynamic:

Another key driver fueling the kombucha market growth is the expansion of product offerings by manufacturers. Companies are innovating new flavors, packaging formats, and presentations to attract new consumers. For instance, kombucha is available in bottles, cans as well as on tap. There is also a rise in availability of lightly sparkling and flavored kombucha variants. This is expected to increase the popularity of kombucha among young adults and millennials.

Segment Analysis

Kombucha Market is segmented into two major segments namely packaging and distribution channel. The packaging segment is further divided into glass, cans and PET bottles among which PET bottles dominate the market accounting for over 60% share. PET bottles are affordable, easy to carry and does not impart any extra aesthetic value to kombucha making it the packaging type of choice among consumers.

PEST Analysis

Political: Kombucha containing high level of alcohol faces restrictions and regulations in many countries. Some regions have placed limits on the amount of alcohol allowed in kombucha.

Economic: Rising health awareness and preference for healthy beverages have been driving the demand for kombucha. However, inflation may negatively impact consumer spending on premium healthy drinks.

Social: Kombucha is perceived as a trendy and niche product among millennials who are active on social media. Social media influencers promote the health benefits of kombucha contributing to its popularity.

Technological: Manufacturers are investing in R&D to develop innovative kombucha flavors and formulations to attract new consumers. Some are introducing kombucha in convenient packaging formats like bottles and cans.

Key Takeaways

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

North America dominates the market occupying over 45% share aided by rising health consciousness. Changing lifestyles and increasing disposposable incomes have been contributing to the growth of Asia Pacific region which is emerging as the fastest growing market for kombucha.

Key players operating in the kombucha market are Vinci, Bouygues, Grupo ACS, Hochtief, Balfour Beatty, Laing O€TMRourke, Bechtel, Kiewit, HOCHTIEF, Skanska. Vinci and Bouygues collectively account for over 30% of global business driven by their expertise in construction of residential, commercial and infrastructure projects. Kiewit and Bechtel are among the leading players based out of North America dominating the regional market through strategic acquisitions and collaborations.

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