Kvass Market Projected to Reach $6,231.2 Million by 2030, Fueled by Growing Consumer Demand for Functional Beverages

According to a new report published by Allied Market Research, titled "Kvass Market by flavor type, packaging type, price point, and distribution channel: Global Opportunity Analysis and Industry Forecast, 2021-2030,"

The Kvass market size is expected to reach $6,231.2 million by 2030, registering a CAGR of 10.2% from 2021 to 2030.

▶ 𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 : https://www.alliedmarketresearch.com/request-sample/A13089

Kvass is especially popular in Russia. It is made from rye bread. Rye bread is a type of bread made with various proportions of flour from rye grain. It can be light or dark in color. Kvass is made by the natural fermentation of bread, such as wheat, rye, or barley, and sometimes flavored using fruit, berries, raisins, or birch sap.

According to the Institute of Food Technologists, the developed nations such as the U.S., Germany, France, Spain, Italy, and Japan reported that today's consumers are looking for customizable beverages and dietary solutions that will help them more aggressively meet their own unique nutrition and personal health goals. General health and wellness products and programs no longer fit all. Similarly, people living in other emerging countries such as China, South Korea, and UAE have also become aware of the health benefits of consuming functional beverages, flavored alcoholic beverages and low-ABBV-content beverages. Furthermore, growing health hazards due to consumption of spirits and beer, people are increasingly inclined to consume low-alcohol beverages with some health-related benefits. Thus, kvass is expected to gain major popularity among alcohol beverage consumers.

Trade restrictions imposed by several countries across the globe to curb the outbreak of COVID-19 has significantly affected global logistics and transportation, which has affected on the kvass market. Restrictions have had a direct impact on the food and beverage supply chain with the tightening of transportation and port capacities, whilst also leading to an increase in shipping and freight costs. Furthermore, this has resulted in a shortage of food and beverage supply, which is likely leading to choked production and affected availability of food & beverage products at retail level. Thus, Covid-19 has disturbed the whole value chain and supply chain of the kvass market, which in turn negatively impacted the growth of the product market.

According to the kvass market analysis, the kvass market segmented into flavor type, packaging type, price point, distribution channel, and region. On the basis of flavor type, the market is categorized into apple, lemon, cherry, mint, beets, strawberry and others. By packaging type, it is bifurcated into bottle, cansand others. Depending on price point, it is segregated into premium and mass. As per distribution channel, it is fragmented into supermarket, convenience stores, e-commerce, food service and others. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Russia, Poland, Belarus, Latvia, Lithuania, Estonia, EU5 and Rest of Europe), Asia-Pacific (China, South-East Asia, Australia, India, Japan and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).

According to the kvass market trends, on the basis of flavor type, lemon segment was accounted for second-highest share of the global kvass market and is expected to sustain its share throughout kvass market forecast period. Lemon-flavored drinks are highly preferred, as it refresh the mood and provide instant energy. Furthermore, lemon-flavored beverages has various health benefits, such as promoting hydration, providing vitamin C, a primary antioxidant that helps protect cells from damaging free radicals and supporting weight loss. Thus, these above factors encourage people to have lemon-flavored kvass during the forecast period.

According to the packaging type, the can segment is estimated to reach $2,315.00 million by 2030 at a CAGR of 11.0%. Kvass cans are no longer made of tin or steel; rather, they are made of aluminum. Cans are airtight and hermetically sealed, preventing oxygen from damaging the kvass. They are impervious to the damaging effects of light and store kvass just as well as glass bottles. Since the inside of can is coated with a water-based polymer, it prevents the kvass from coming in contact with the aluminum, thereby retaining its flavor and taste. Aluminum cans are lightweight, thus providing ease of transportation.

According to price point, the premium segment is estimated to reach $2,489.41 million by 2030 at a CAGR of 12.6%. The premium pricing is charged mostly for high-quality, uniquely packaged kvass beverages products. This cost of the product is the addition of the actual cost and super premium raw material used cost. rise in trend of consumption super premium-quality functional beverages is attributable to driving kvass market growth. Moreover, improvement in lifestyle and rise in disposable income increase the willingness of consumers to spend more on health-benefiting beverages, which is a key factor anticipated to drive the growth of the global product market.

▶ 𝐒𝐏𝐄𝐀𝐊 𝐖𝐈𝐓𝐇 𝐀𝐍𝐀𝐋𝐘𝐒𝐓 : https://www.alliedmarketresearch.com/connect-to-analyst/A13089

According to the kvass market opportunities, on the basis of distribution channel, the supermarket and e-commerce segments are expected to witness significant CAGRs of 10.8% and 10.7%, respectively, during the forecast period. The cumulative share of these two segments was 42.3% in 2020 and is anticipated to reach 44.5% by 2030. increase in urbanization, rise in working-class population, and competitive pricing boost the popularity of supermarkets in the developed and developing regions. Moreover, presence of store associates to help customers choose the right product and provide product knowledge boosts the growth of the segment. Thus, the above-mentioned factors drive customers to prefer this distribution channel over others for the purchase of kvass products. Furthermore, easy accessibility, online payment getaway and door-step delivery are expected to boost the growth of product market through e-commerce segment.

Region wise, The Asia-Pacific kvass market is projected to reach $1,526.6 million by 2030, registering a CAGR of 11.9%. China was the highest revenue contributor with $158.3 million in 2020 and is estimated to reach $432.3 Million by 2030, registering a CAGR of 10.7%. India is estimated to reach $82.7 million by 2030, at a significant CAGR of 13.6%. The market has witnessed significant growth due to increase in demand from countries such as India, Japan and China. A considerable increase in the consumption of low-ABV content and flavored alcoholic beverages has been observed in India due to its growing youth population with preference for health-benefiting low-ABV-content beverages. Changing lifestyles and consumer preferences have considerably boosted the adoption of kvass in the Asia-Pacific region.

The players operating in the Kvass industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include All Stars Beverages, Bryanskpivo, Carlsberg Group, Coca-Cola Company, Gubernija, Kvass Beverages LLC, Maltra Foods, Ochakovo, PepsiCo, Inc. and Piebalgas alus.

𝐊𝐞𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐅𝐨𝐫 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬

The report provides a quantitative analysis of the current trends, estimations, and dynamics of the market size from 2020-2030 to identify the prevailing opportunities.

Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.

In-depth analysis and market size and segmentation assist in determining the prevailing market opportunities.

The major countries in each region are mapped according to their revenue contribution to the Kvass market.

The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the kvass industry.

▶ 𝐆𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 : https://www.alliedmarketresearch.com/request-for-customization/A13089

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