Kvass Market is Expected to Grow $6,231.2 Million by 2030 As Revealed In New Report

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

Increasing demand for functional beverages and growing concern about the health is likely to upsurge the growth of the kvass market. Growing awareness regarding health benefits of kvass and demand for low ABV content and flavored alcoholic beverages is likely to generate more demand for kvass during the forecast period.

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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, 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 ABV content beverages. Furthermore, growing health hazards due to consumption of sprits and beer, people are increasingly inclining to consume low alcohol content beverages with some health related benefits. Thus, kvass is expected to gain major popularity among alcohol beverage consumers.

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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 a 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 alcohol 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.

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This release was published on openPR.