Fermented Food and Ingredients Market Size, Share, Growth, and Industry Growth by Type (Dairy Products, Fermented Beverages, Confectionery and Bakery, Meat and Fish, Fermented Vegetables and Fruits, and Food Flavors and Ingredients) By Application (Supermarkets/Hypermarkets, Specialty Stores, Online Stores, and Others) Regional Forecast To 2031

Updated On: 01 April 2024

FERMENTED FOOD AND INGREDIENTS MARKET REPORT OVERVIEW

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global fermented food and ingredients market size was USD 58823.69 million in 2021 and market is projected to touch USD 123738 Million By 2031, exhibiting a CAGR of 7.72% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with fermented food and ingredients experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

Fermented food and ingredients are becoming popular day by day. The food undergoes fermentation and microbial growth. Fermentation is an anaerobic procedure in which microorganisms such as bacteria and yeast break down food components (glucose) into other products such as gases, organic acids, or alcohol.

The main drivers of the market are increased demand for extended shelf-life or fresh food items. A rise in awareness about the procedure among health-conscious people. Increased purchasing power and change in lifestyle. Growing demand for food preservatives. These key drivers are anticipated to accelerate market growth. Rapid urbanization and shifts in consumer preferences towards fermented beverages, confectionery products, and fermented bakeries are estimated to surge market growth. Growth in the food and beverage sector and rapid production launch are anticipated to fuel market progress. On the contrary, health risk associated with the product is anticipated to limit market growth in the upcoming years. Moreover, the high price of the raw materials and uncertain availability is anticipated to hamper market progress.

COVID-19 Impact: Closure of Food and Beverage Sector to Limit Market Growth

The outbreak of the Coronavirus pandemic disrupted the supply chain of the product. The shutdown of the food & beverage sector is anticipated to limit the market growth. The low rate of manufacturing and lack of production activities hamper the market growth. Lack of investment by market players and the closure of export and import activities minimized market progress during the pandemic period.

LATEST TRENDS

"Evolving Eating Habits and Rapid Urbanization to Fuel Market Growth"

Evolving eating habits of the growing population and rapid urbanization are anticipated to accelerate market growth. Rising shifts in consumer preferences toward fermented beverages, confectionery products, and fermented bakeries are estimated to surge the market growth. Further, change in dietary patterns and increased disposable income is predicted to expand market progress. The growing usage of fermented ingredients in the manufacturing of processed beverages is expected to fuel market growth. The rise in consumption of fermented beverages such as beer is anticipated to drive fermented food and ingredients market performance in the upcoming years.

FERMENTED FOOD AND INGREDIENTS MARKET SEGMENTATION

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• By Type

Based on type, the market is divided into fermented beverages, dairy products, confectionery and bakery, meat and fish, fermented vegetables and fruits, and food flavors and ingredients.

Dairy products are expected to be the top part of the segmentation type.

• By Application

Based on the application, the market is divided into supermarkets/hypermarkets, specialty stores, online stores, and others.

Supermarkets/hypermarkets are expected to be the top part of application segmentation.

DRIVING FACTORS

"Increased R&D Activities and Technology Advancement to Foster Market Growth"

Increasing R&D activities among market players and rapid technological advancement are estimated to fuel market growth. A rise in the need for food & beverages sectors and the product offers of enhanced quality, texture, and flavor of food products is anticipated to fuel market growth. A rise in awareness about the procedure among health-conscious people. Increased purchasing power and change in lifestyle. Growing demand for food preservatives. These key drivers are anticipated to accelerate market growth. Increased preference for high-protein diets is estimated to fuel market growth.

"Increased Demand for Innovation and Growing Health-Conscious Population to Fuel Market Growth"

Increasing demand for innovation and the launch of new products are predicted to fuel market growth. Growing awareness about the product among the health-conscious population. A rise in demand for fresh food and increased adoption of food preservation is estimated to fuel market growth. The increased prevalence of obesity and the high need for digestive problems is anticipated to surge market growth. Easy availability of the product is anticipated to surge market growth in the upcoming years.

RESTRAINING FACTORS

"Health Risk Associated with the Procedure to Limit Market Growth"

Health risk associated with the product is anticipated to limit market growth in the upcoming years. Moreover, the high price of the raw materials and uncertain availability is anticipated to hamper market progress.

FERMENTED FOOD AND INGREDIENTS MARKET REGIONAL INSIGHTS

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"Increased Consumption of Fermented Food & Beverages in Europe to Fuel Market Growth "

Europe accounted for the fermented food and ingredients market share due to increased consumption of fermented food & beverages such as cheese, yogurt, and alcohol. Increased awareness among the health-conscious population is predicted to fuel market growth. increased demand for extended shelf-life or fresh food items. A rise in awareness about the procedure among health-conscious people. Increased purchasing power and change in lifestyle. Growing demand for food preservatives. These key drivers are anticipated to accelerate market growth.

Asia Pacific is anticipated to witness the fastest-growing market growth due to the rise in urbanization. The increased purchasing power of consumers and evolving eating habits is anticipated to accelerate market growth. Enhanced agricultural growth and a huge improvement are anticipated to surge market growth.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Unilever (U.K.)
• DSM (Netherlands)
• FrieslandCampina (Netherlands)
• Danone (France)
• General Mills (U.S.)
• Cargill (U.S.)
• Kraft Heinz (U.S.)
• KeVita (PepsiCo) (U.S.)
• Hain Celestial (U.S.)
• Nestlé (Switzerland)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.