Soy Beverages Market Size to Hit USD 38.86 Billion by 2032; Rising Popularity of Non-Dairy Foods to Propel Growth: The Brainy Insights
The soy beverages market is rising as the population grows and shifts their taste toward healthy drinking beverages like soy milk. The Asia Pacific region…
The soy beverages market is rising as the population grows and shifts their taste toward healthy drinking beverages like soy milk. The Asia Pacific region will substantially grow the soy beverage market during the forecast period.
Newark, April 24, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the soy beverages market will grow from USD 21.5 billion in 2022 and reach USD 38.86 billion by 2032. The most important feature of soy milk is its power to improve the blood lipid profile. Unlike dairy milk, which is high in saturated fat and cholesterol, soymilk fat is mostly unsaturated with zero cholesterol.
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Report Coverage Details
|Market Size in 2022||USD 21.5 Billion|
|Market Size in 2032||USD 38.86 Billion|
|No. of Pages in Report||237|
|Segments Covered||Product Type, Distribution Channel|
|Drivers||Boost Weight Loss|
|Opportunities||Best Plant-Based Protein Source|
Key Insight of Soy Beverages Market
North America to account for largest market size during the forecast period.
North America is expected to have the largest market share in the soy beverages market. The growth of the soy beverages market in North America region is the development might be due to with growing lifestyle disorders and the ageing population in North America, customers are shifting towards functional foods delivering a broad spectrum of health advantages. The need for soy beverages is also growing in the developing regions of Africa and South America due to rising health problems. The increasing need for soy-based products in the developing regions of South America and Africa delivers a massive platform for the players to expand their existence and develop the market growth.
The soy milk segment accounted for the largest market share of 56% and market revenue of 12.04 billion in 2022.
The product type segment is divided into soy-based drinkable yogurt, and soy milk. The soy milk segment dominated the market, with a market share of around 56% and market revenue of 12.04 billion in 2022. Soy milk is a plant-based non-dairy beverage that's a famous substitute for cow's milk. It's made from soybeans, and multiple brands, like Silk, fortify their soy milk with vitamins and minerals like calcium and vitamin D.
The flavored segment accounted for the largest market share of 58% and market revenue of 12.47 billion in 2022.
The flavor segment is divided into plain/unflavored, and flavored. The flavored segment dominated the market, with a market share of around 58% and market revenue of 12.47 billion in 2022. Flavored soy milk usually is available in vanilla and chocolate, while other flavors like cardamom, masala, almond and saffron are also available.
The online segment accounted for the largest market share of 25% and market revenue of 5.37 billion in 2022.
The distribution channel segment is divided into pharmacy, supermarkets/hypermarkets, convenience stores, retail stores, online and others. The online segment dominated the market, with a market share of around 25% and market revenue of 5.37 billion in 2022. The increasing online purchasing trend after covid also contributes to market growth. The online channel helps manufacturers to decrease the rental prices of offline stores and the workforce.
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Advancement in market
In March 2020, Asahi Group Holdings Ltd. established Calpis, a dairy drink in a soymilk version. The company is targeted explicitly at health-conscious female clients aged 30-40.
Drivers: Help in Reducing Cholesterol Level
Soy milk consists of saponins and isoflavones, which may have antioxidant properties. Studies have indicated that it may decrease bad cholesterol levels and raise good cholesterol levels. Additional research on the impact of soy milk on cholesterol levels in humans is needed. Regardless, it is crucial to keep track on cholesterol levels and consult the doctor in case of high cholesterol levels.
Restraints: Added Sugars
Some types of soy milk do have a significant nutritional disadvantage due to added sugar. Added sugars raise non-nutritive calories in the diet, growing the risk of heart disease and type 2 diabetes. The unsweetened stuff has just 1 gram of naturally appearing sugars per cup and no added sugar. In contrast, chocolate- and vanilla-flavoured soy milk have around 20 and 7 grams of added sugar per serving, respectively which may hinder the market growth.
Opportunities: Helps in Improving the Lipid Profile
The important element of soy milk is its power to improve the blood lipid profile. Soy's monounsaturated and polyunsaturated fatty acids can hamper cholesterol flow into the bloodstream. Studies have shown that regular soy intake can enormously lower the blood concentrations of triglyceride and low-density lipoproteins (LDL) and raise high-density lipoproteins (HDL). The collective impact makes soy milk ideal for people with high cholesterol or a family history of coronary heart disease.
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Some of the major players operating in the soy beverages market are:
• The Hain Celestial Group Inc.
• Takeda Pharmaceutical Co. Ltd.
• Sofina SA
• Sanitarium Health Food Co.
• PACIFIC FOODS OF OREGON LLC
• Nestle SA
• Life Health Foods
• Kikkoman Sales USA Inc.
• Jaffe Bros Inc
• Eden Foods Inc.
• Devansoy Inc.
• American Soy Products Inc
Key Segments cover in the market:
By Product Type:
• Soy-Based Drinkable Yogurt
• Soy Milk
By Distribution Channel:
• Convenience Stores
• Retail Stores
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analysed based on value (USD Billion). All the segments have been analysed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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plant-based hain celestial group hain celestial