The fermented food and drinks market size is expected to grow by USD 533.52 mn from 2021 to 2026.
The packaging innovations and increasing marketing initiatives are driving the fermented food and drinks market growth. Various players are differentiating their products from that of their rivals by using innovative packaging. In addition, many manufacturers are choosing environment-friendly alternatives such as green polyethylene made from sugarcane. These packaging innovations help in broadening the appeal of brands among retailers and consumers. During the forecasted period, more players are expected to launch products with innovative packaging in order to entice consumers.
The hypermarkets and supermarkets distribution channel segment will have significant market share growth during the forecast period. The growing retail industry, as well as the establishment of numerous retail outlets, are driving the sales in this segment. Supermarkets and hypermarkets are popular distribution channels for cultured dairy products, which can be attributed to the growth of the overall organized retail sector in developed and developing economies. Accessibility in hypermarkets and supermarkets will propel the fermented food and drinks market growth during the forecast period.
APAC led the fermented food and drinks market in 2022, followed by Europe, North America, South America, and the Middle East and Africa, respectively. During the forecast period, APAC is expected to register the highest incremental growth due to factors such as the expansion of food chains, including Pizza Hut, Papa John’s, and McDonald’s, which use a high amount of processed cheese like cheddar cheese in their dishes. Market growth in this region will be faster than the growth of the market in other regions. Japan is the key country for the fermented food and drinks market in APAC.