The kvass market is projected to enroll a CAGR of 9.8% during the figure time frame, up from US$ 2.6 Bn in 2021 to arrive at a valuation of US$ 7.3 Bn by 2032.
Kvass is an accidentally invented fermented low alcoholic (0.5% to 1%), considered as non-alcoholic drink, with most preferred nutritive diets that contain a proper concentration of fat, carbohydrate, fiber, sugar, proteins along with calories. During summer, kids and young people are mostly found around the ice-cream shop in the U.S. but Russians and Ukrainians are experiencing kvass as beverages, appetizers as well as a cold choice at the mass level.
Kvass can be understood as a good lunch alternative as well as a healthy appetizer. There is a hearsay that bad kvass is better than good water. Fast-paced life and non-specific nutritional value have been considered as a serious health issue. Kvass has great existence from ancient time with good health benefits.
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Increase in Consumer Awareness is Driving the Demand for Kvass
Fast life, an unhealthy and unbalanced diet has prophesied to serve kvass as one of the balanced and healthy beverages. Due to frantic habit and lifestyle, metabolism is supposed to be disturbed that causes a change in body mass index. In the current scenario, according to the World Health Organization (WHO), 31% of the world adult population are considered under the obese category.
Change in BMI can be the risk cause of several diseases such as cardiovascular disorders, diabetes, nasopharyngeal disorders, musculoskeletal disorders and many more. Awareness about the negative effect of obesity has made consumers more health conscious and convergent towards using a balanced health product that can help in maintaining the body mass index.
Dieting can be another alternative for the obesity that one can think of but the nutrition required for the body cannot be fulfilled and sometimes dieting can also be problematic so, to escape such kind of problem kvass can be understood as one of the good alternatives. Nowadays, there has been a great rise in health and fitness awareness all around the world that has influenced the increase in the sales of kvass.
The busy schedule, change in lifestyle, change in food and adaptation habit because of immigration, increase in the health fitness center and increase in government health awareness programs, these are the reason that has been estimated to leave a great impact on health-oriented beverages market. The rise in income and proper knowledge has increased the consumption of healthy products.
Sometimes people also use kvass as an energy drink. Availability and consumption of kvass have also increased because of urbanization and the presence of a various retail and wholesale market. Thus, these above mentioned factors are expected to drive the kvass beverages market.
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Kvass Market: Key Participants Few key market players in the Kvass market are:
- Deka Spb OOO
- Joint Stock Company ‘Krinitsa’
- Baltika Brewery
- UAB Vilniaus Prekyba
- Olimp Imperial OOO
- AB Gubernija
- MPBK Ochakovo
Kvass Market Segmentation
The Kvass market can be segmented on the basis of nature, flavor, and sales channel:
The Kvass market can be segmented on the basis of nature as:
- Organic
- Conventional
The kvass market can be segmented on the basis of the flavor as:
- Apple
- Beets
- Bird cherry
- Lemon
- Cherry
- Cranberry
- Mint
- Strawberry
The Kvass market can be segmented on the basis of the sales channel as:
- B2B
- B2C
- Store Based Retailing
- Modern Grocery Retailers
- Convenience Stores
- Discounters
- Forecourt Retailers
- Hypermarkets
- Supermarkets
- Traditional Grocery Retailers
- Food Specialist
- Independent Small Grocers
- Other Grocery Retailers
- Online Retailing
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