Global Fermented Food and Ingredients Market 2019-2023: Focus on Food Type, Ingredient Type and Distribution Channel

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The fermented food and ingredient market is projected to reach $689.34 billion by 2023. The demand for fermented food and ingredients is driven by increasing population, rising per capita income and increasing awareness about health among the consumers.Consumer inclination towards the use of fermented food and ingredients are increasing across the globe due to their benefits to the human digestive system, further helping in increasing immunity and brain functions. The source of the gut-healing properties of fermented foods is probiotics, or good bacteria, which is found in products such as kombucha, sauerkraut, kimchi, kefir and pickles.Food manufacturers are taking advantage of the emerging opportunities and expanding their product line in the fermented food products. For instance, PepsiCo acquired probiotics beverage maker KeVita in 2016 and also launched its Tropicana Essentials Probiotics line. One of the major reasons for the companies investing in the market is its profitability aspect which is attracting the millennials who are more captivated by the idea of fermented food and beverages than any other product group.The fermented food and ingredient market holds a prominent share in various countries of North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World (RoW). Europe is at the forefront of the global fermented food and ingredient market, with high market penetration rate in the U.K., Germany, and others, which are expected to display robust market growth in the coming five years.Europe, followed by the North America region, generated the highest revenue in the fermented food and ingredient market in 2018. The Europe market for fermented food and ingredient is significantly developed with major growth opportunities arising from countries in the region. The increasing adaptability of fermented food and beverages and the positive support from the government are also expected to augment the growth in the region. The fastest growth rate is expected from the Asia-Pacific and South America regions. Presence of key countries, such as China, India, in Asia-Pacific is estimated to boost the market for fermented food and ingredients.The fermented foods and ingredients market is associated with the major companies providing various food products and ingredients prepared using fermentation. This varied range of market participants provides opportunities to other players willing to bear the high risks involved in the industry.

This segment details the latest strategies & developments adopted by the key market players in the fermented food market. In order to lead the market as well as engage in the process of market growth, a company needs to work in collaboration with the top market leaders, acquire the relatively weaker companies, bring new products and services to the market, and improve the existing products.The results of the emerging strategies and developments are already providing a push to the market in the form of new product launches and developments. Moreover, the growing market of such food products is further expected to increase the involvement of companies across different segments of the value chain. The key players actively taking part in the fermented food market are: Danone

The competitive landscape for the fermented food and ingredient market demonstrates an inclination toward the companies adopting strategies such as partnerships and collaborations along with new product launches for introducing new technologies and enhancing their existing product portfolio. The majority of the companies are actively launching new products to enhance their presence, while the relatively less adoptive strategies comprise mergers and expansions.

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Globe Newswire: 12:00 GMT Wednesday 17th April 2019

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