The global sour milk drinks market size is set to experience speedy growth on account of the rising demand for functional beverages around the world, observes Fortune Business Insights™ in its report, titled “Sour Milk Drinks Market, 2021-2028”.
The sour milk contains a significant amount of essential nutrients such as potassium, calcium, magnesium, and others which are beneficial to the human body. There has been an increasing demand for functional beverages such as sour milk across several regions as this type of milk can have positive effects on human health and can help in improving the functioning of the intestines, which can prevent from constipation. Thus, this is a major factor responsible for the growth of this market.
However, the storage and preservation of sour milk requires relatively high cost, which is projected to hinder the growth of this market.
COVID-19 Impact:
With the increasing lockdown restrictions due to the COVID-19 pandemic, there has been a negative impact on the growth of sour milk drinks market. Most of the industries including food and beverage industry have been severely impacted due to this pandemic. Thus, the demand for sour milk has declined across several regions of this market.
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Market Segmentation:
On the basis of source, this market is divided into animal-based and plant-based. Based on category, the market is classified into flavored and unflavored. By type, the market is categorized into kefir, acidophilus milk, buttermilk, and drinking yogurt. In terms of distribution channel, the market is clubbed into hypermarkets/supermarkets, convenience stores, specialty stores, and online retail. Based on geography, the market is classified into North America, Europe, Asia Pacific, South America, and the Middle East & Africa
Highlights/Summary:
This research report offers an in-depth study of the driving factors, restraints and trends influencing the growth of the market. In addition, this report offers a detailed evaluation of the market segments and regional developments in the market. Further, this report also incorporates a comprehensive analysis of the strategies adopted by market players to strengthen their position.
Drivers/Restraints:
Wide Availability of Sour Milk Drinks across Several Distribution Channels to Fuel the Market
The sour milk is widely available in the form of small and flexible packs across several distribution channels such as retail stores, online platforms, supermarkets, and others. These distribution channels offer huge discounts on such beverages and other household items in order to increase their customer base and attract maximum customers towards purchasing these products. Thus, this is an important factor contributing to the growth of this market.
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Regional Insights:
Increasing Consumption of Sour Milk in the Households to Boost the European Market Growth
Europe is projected to dominate in the sour milk drinks market share on account of the rising consumption of sour milk in the households especially in the countries such as the UK and Germany.
Asia Pacific region is projected to grow steadily in this market due to the rising availability of functional beverages such as buttermilk and others in the retail stores in countries such as India and China.
Competitive Landscape:
Strong Focus on Increased Production of Sour Milk Drinks by Key Players to Animate Competition
The leading companies in the sour milk drinks market are focusing on increasing their production and distribution capabilities of sour milk in several regions by collaborating with small scale and large scale companies. This has resulted in the increasing competition among key companies which will help them to expand their business horizons and broaden their market footprint.
Industry Development:
February 2020: Graham’s The Family Dairy Ltd. launched Goodness Kefir, cultured sour milk in three flavors in the European market in order to expand its product range. The product improves overall gut health and promotes healthy digestive system.
List of Key Players Covered in the Sour Milk Drinks Market Report:
- Danone SA
- Lifeway Foods Inc.
- Hain Celestial Group Inc.
- Nestle SA
- The Gujarat Co-operative Milk Marketing Federation Ltd. (Amul)
- Graham’s The Family Dairy Ltd.
- Scott Brothers Dairy Inc.
- Lowveld Favorites
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