According to Stratistics MRC, the “Global Kombucha Market” is accounted for $1.15 billion in 2018 and is expected to reach $7.42 billion by 2027 growing at a CAGR of 23.0% during the forecast period. Some of the key factors propelling the market growth are increase growth for fortified food & beverage goods and escalating utilization of alcoholic beverages. However, huge costs involved in inventories and sharing of kombucha drinks are the restraining factor for the growth of the market.
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Kombucha is a kind of functional drink that has green tea or black tea as its base. The drink is fermented with a tea fungus recognized as “symbiotic culture of acetic acid (vinegar) bacteria and yeast,” or “SCOBY.” Owing to the fermentation procedure, this drink has an extended shelf life. Kombucha is supposed to stimulate the immune system. Furthermore, different herbal ingredients are initiated to insert latest flavors to further improve the overall dietary profile of Kombucha. Most regular ingredients used to flavor the drink include basil, ginger, aloe vera, citrus, and berries.
Opportunity: Growing Consumption of Functional Beverages would provide ample opportunities for the market growth.
There are numerous new domestic and international companies manufacturing kombucha. In addition, numerous well-known beverage brands are annoying to enter into this market. Due to its health benefits, governments in numerous countries are taking creativities for manufacturing, marketing, and regulating the production & consumption of kombucha. Kombucha is a conventional fermented tea-based beverage, which has several health benefits. Additionally, the crucial ingredients used in producing kombucha are sugar, water, and kombucha culture or starter culture.
Driver: Rise in Demand for Fortified Food & Beverage Products is driving the market growth.
The rise in command for fortified food & beverage flavors, increasing health awareness and growing prevalence of health disorders, increasing command in developing economies inclination towards preventive healthcare and rising awareness of the health benefits of kombucha consumption, drive the market for kombucha beverages. Kombucha is referred to as functional beverage, prepared during the fermentation cultures of yeast, bacteria and enzymes which develop its market traction as a high probiotic drink.
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Depending on distribution channel, supermarkets/hypermarkets segment is expected to grow at the significant market share during the forecast period. This growth can be attributed to growing disposable income scales for middle class population coupled with awareness on the subject of leading a healthy life. Most supermarkets offer higher discount rates and promotional offers due to their high stocking capacity, which helps them introduce newer products to the consumers.
North America region is anticipated to hold considerable market share during the forecast period:
By geography, the North America region is anticipated to hold considerable market share during the forecast period. Factors such as rising health consciousness among people, prevailing health disorders, growing disposable income, and changing lifestyle of individuals are driving the growth of this market. Moreover, raise in consumption of alcoholic beverages has boosted the market for kombucha as it can be classified as an alcoholic drink.
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Some of the key players in Kombucha Market include Brew Dr. Kombucha , Buchi Kombucha, Celestial Seasonings, Cell – Nique Corporation, GT’s Kombucha, Hain Celestial Group, KeVita, Kombucha Wonder Drink, Kosmic Kombucha, Live Soda Kombucha, NessAlla Kombucha, Red Bull, Reed’s, Revive Kombucha, The Humm Kombucha and Townshend’s Tea.
Hain Celestial Group: In Sep 2019, Hain Celestial Group acquired Hometown Food. This acquisition strengthens their industry position by adding enhanced capabilities in the better-for-you space that they plan to make bigger into their other categories.
Townshend’s Tea: In Feb 2018, Townshend’s Tea partnered with Castanea. In Brew Dr. and TTG they saw an opportunity to invest in a high-quality, authentic kombucha brand that addresses rising consumer interest in personal health and well-being. The Brew Dr. team has done a tremendous job translating Matt’s love for high-quality tea into great kombucha and they’re delighted to partner with them to help continue building on the strong foundation for success already in place.
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