According to a new report by Allied Market Research, the global kombucha tea market generated $2.3 billion in 2020, and is predicted to reach $4.5 billion by 2028, manifesting a CAGR of 8.6 percent from 2021 to 2028. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations and key players.
Per the report, the number of health-conscious consumers across the world, along with a surge in product innovation and the proliferation of kombucha in the foodservice sector, has propelled the global kombucha tea market. However, the presence of imitation products and the potential threat of substitution could potentially hinder the market’s growth. On the contrary, an increase in preferences for organic products and the continued growth of online retail platforms is creating lucrative opportunities for market players.
Allied Market Research noted that the pandemic increased awareness and interest in health and fitness for consumers. This created a surge in a demand for kombucha tea across the globe, especially in North America.
Demand for functional beverages overall during the pandemic has motivated key kombucha market players to boost production to meet the demand. However, poor transportation and facilities and lack of workforce has hindered the production and supply chains.
The report also segments the global kombucha tea market on the basis of nature, product type, sales channel, and region.
According to the study, the conventional segment of kombucha contributed to the highest market share in 2020, attributing to more than four-fifths of the total market share, and is anticipated to dominate the market during the forecast period. On the other hand, the organic segment is expected to manifest the fastest CAGR of 13.4 percent from 2021 to 2028.
Based on region, North America contributed to the highest share in 2020, holding more than two-fifths of the total share, and is anticipated to maintain dominance throughout the forecast period. The global kombucha tea market across Europe is anticipated to exhibit the fastest CAGR of 11.9 percent during the forecast period.
Key players of the global kombucha tea market analyzed in the research include Remedy Drinks, The Coca-Cola Company, Humm Kombucha, LIVE Kombucha Soda, Asheville Kombucha Mamas, Marin Kombucha, PepsiCo, Inc., Toyo Kombucha, GT’s Living Foods and Brew Dr. Kombucha.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Ore. The company provides global enterprises, as well as medium and small businesses, with market research reports and solutions.
To learn more about Allied Market Research, visit AlliedMarketResearch.com. For a sample of the report, click here.
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