Kombucha is a fermented sweetened black or green tea drink which is prepared using ‘kombucha mushroom’ or ‘SCOBY’ (symbiotic colony of bacteria and yeast). Kombucha has gained immense popularity in recent years due to its functional properties and perceived health benefits. It is considered a probiotic drink due to presence of various types of bacteria and yeast strains. Kombucha contains various compounds produced during fermentation such as organic acids, polyphenols, amino acids and vitamins. The beverage is known to aid digestion, boost immunity and energy levels besides offering anti-aging properties. Growing health consciousness among consumers and awareness about gut health has significantly driven the demand for probiotic drinks globally.
The global Kombucha Market is estimated to be valued at US$ 3.04 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends witnessed in the global kombucha market is the launch of various flavors. Traditionally kombucha used to be available in limited flavors like original, ginger, lemon etc. However, with growing popularity manufacturers have started exploring different flavor profiles to attract new customers. Some of the innovative flavors launched recently includes coffee, fruits like pomegranate, blueberry, tropical fruits etc. Flavored kombucha has gained high traction among millennials. Furthermore, ready-to-drink kombucha products in bottles and cans have simplified the consumption process encouraging impulse purchases. Ease of availability through major retail stores and online channels have made kombucha highly accessible driving the market growth.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the kombucha market is moderate as it requires significant financial investments and established distribution channels.
Bargaining power of buyers: The bargaining power of buyers in the kombucha market is high given the availability of substitute products.
Bargaining power of suppliers: The bargaining power of suppliers is moderate given the availability of alternative raw material suppliers for kombucha production.
Threat of new substitutes: The threat of new substitutes in the kombucha market is high as there are many probiotic drinks available that provide similar health benefits.
Competitive rivalry: The competitive rivalry in the kombucha market is high due to the presence of many regional and international players.
Key Takeaways
The Global Kombucha Market Size is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis: Europe is expected to grow at a fastest pace over the forecast period. The growth can be attributed to increasing consumer preference for organic, health and wellness products. Asia Pacific is also expected to offer lucrative growth opportunities with rising disposable income in developing economies such as China and India.
Key players operating in the kombucha market are Vinci, Bouygues, Grupo ACS, Hochtief, Balfour Beatty, Laing O€TMRourke, Bechtel, Kiewit, HOCHTIEF, Skanska. They are focusing on new product launches, acquisitions, and strategic partnerships to strengthen their market position. For instance, in 2019, GT’s launched its new bottled Synergy Kombucha line.
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.