Soy Beverage Market to be Dominated by North America During the Forecast Period

Rising popularity of plant-based diets among consumers, owing to the increased concern for animal welfare are the leading factors expected to drive the soy beverage market during the forecast period.

According to TechSci Research report, “Soy Beverage Market– Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”, The global Soy Beverage market is expected to grow faster during the forecast period. The rise in the prevalence of lactose intolerance around the world, as well as the rise in the popularity of soy drinks as a healthy alternative to dairy milk, due to its low fat content, lack of cholesterol, and high protein content, are all driving market expansion among consumers are some of the factors that are driving the soy beverage market across the globe during the forecast period.

Soy beverage refers to beverages that are nutritionally adequate and can be used as a substitute for milk. This beverage is a plant-based beverage made by extracting nutrients from soybeans. Obesity is increasing the demand for low-calorie items. As a result, many consumers who are weight conscious or trying to lose weight are preferring soy milk. Soy beverage also reduces harmful cholesterol levels and is popular among heart patients. The product is also popular among lactose intolerant and anemic people because it is naturally lactose-free and high in iron.

Furthermore, media influence on consumer, increased health consciousness, increased food spending, and increased disposable income all have a beneficial impact on the soy beverages market. Moreover, product advancements provide profitable chances for market players during the forecast period. Aside from its excellent nutritional composition, there are other reasons why consumers are preferring soy milk in their coffee, smoothie, or cereal.

Furthermore, numerous other advantages of the product are expected to boost soy milk consumption and drive the market. This product, however, may face stiff competition from market substitutes such as almond and coconut milk. Owing to increased consumer awareness, these replacements are more widely available. As a result, manufacturers are focusing on enhancing product awareness through marketing initiatives. The addition of tastes such as vanilla, chocolate, and strawberry by manufacturers to cover the nutty taste of soy milk is increasing product demand among children. However, due to its high manufacturing, unflavored or plain soy milk is widely consumed. The introduction of new flavors to the market has resulted in an increase in the use of flavored soy milk. Many soy milk snacks and dishes are popular in China, Japan, and India. Soy milk is served with oatmeal in these countries. In the United States, sales of plant-based milk, particularly soy milk, are expected to increase during the forecast period. Owing to ethical concerns about animal cruelty, the millennial population in such countries prefers soy beverages. During the forecast period, these factors are expected drive soy beverage consumption and accelerate the expansion of the global soy beverages market.

Browse over XX market data Figures spread through XX pages and an in-depth TOC on "Global Soy Beverage Market.”

The global Soy Beverage market is segmented based on product type, flavor, and distribution channel.

On the basis of product type, the market is divided into soy milk, soy yogurt, and others, Among which soy milk segment is to contribute to major market share growth.

Based on flavor, the market is further bifurcated into flavored and unflavored soy beverages.

Based on distribution channels, the market is further divided into supermarket/hypermarket, convenience stores, departmental stores, online, and non-retail. Online segment is the fastest growing, as internet usage grows and consumers use e-commerce websites more frequently, there is an increased demand for online marketplaces.

On the basis of region, the market is divide into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. With a significant share, due to the increased consumption of non-dairy alternatives, North America is expected to be the fastest-growing market.

Key market players in the global Soy Beverage market include:

• Danone S.A.
• Kikkoman Sales USA, INC.
• The Hain Celestial Group, Inc.
• The Hershey Co.
• Eden Foods, Inc.
• Pacific Foods of Oregon, LLC
• Devansoy Inc.
• SunOpta, Inc.
• American Soy Products In
• Vitasoy International Holdings Limited

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“During the forecast period, the market for Soy Beverage will primarily be driven by an increase in the adoption of soy beverages as a healthy alternative to dairy milk, a growth in the prevalence of lactose intolerance around the world, and high popularity among health-conscious consumers. Furthermore, media influence on consumer, increased health consciousness, increased food spending, and increased disposable income all have a beneficial impact on the soy beverages market,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Soy Beverage Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Product Type (Soy Milk, Soy Yogurt, Others), By Flavor (Flavored, Unflavored), By Distribution Channel (Supermarket/Hypermarket, Convenience Stores, Departmental Stores, Online, Non-Retail), By Region, Competition, Opportunity & Forecast, 2018-2028F”, has evaluated the future growth potential of soy beverage in the global market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the global market.

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