Global market worth $1.8 billion by 2020
According to a new report the global kombucha market is estimated to grow from $0.6 billion in 2015 to $1.8 billion by 2020, at a CAGR of 25.0% from 2015 to 2020.
The global kombucha market is expected to witness significant growth in coming years, due to multiple factors. The demand for this beverage is increasing, with the rising awareness among the consumers about the benefits of the drink. There are numerous new domestic and international companies manufacturing kombucha. Several established beverage brands are also trying to enter into this market. Due to its health benefits, governments in several countries are taking initiatives for manufacturing, marketing, and regulating the production & consumption of kombucha.
Kombucha market is the fastest-growing market in the functional beverages category. The recent trend in the industry is promoting the growth of companies specializing in the healthy and natural food & beverages segments. Thus, kombucha being a health drink, the market for this beverage is expected to witness high growth. This is consequently expected to result in higher profits for the companies operational in the market. High disposable income, changing lifestyle, and increasing health concerns are some of the factors driving the market for kombucha.
North America is currently the largest market for kombucha. The rising population in Asia-Pacific and as an originator of kombucha drink, the region is expected to be the fastest-growing in the global market for kombucha.
Kombucha manufacturers are focusing on new product flavors to satisfy consumer demand and use various advertising practices to attract the customers. There is a prominent dominance of local and regional vendors in the market, which play a monopolistic role in the particular areas where they trade.