Global Soy Drinks Market: Overview
Food and beverages industry is going through an extensive transformation regarding production innovation and development. Soy-based products are thriving segment of food and beverages industry as it is gradually becoming a significant part of our diet. Moreover, soy-based products form a prominent source of nourishment for millions of livestock. Soy-based products are considered to be rich in nutritious content especially in carbohydrate, protein, omega 3 – fatty acid and contain no cholesterol. Owing to this these products are gaining popularity among health-conscious consumers. As the market of dairy alternatives is escalating, soy milk is becoming the preferred product among the consumers. An increased inclination of the consumers is being witnessed towards soy-based products especially soy milk, as these products are lactose-free. Thus, preferred choice for people suffering from lactose intolerance is anticipated to fuel the overall soy drinks market.
Thus soy-based beverages are becoming an opportunistic platform for launching health based products as they offer healthier options in food and beverages industry. Soy drinks are gaining space in the market entrepreneur position in the enjoyable as well as nutritious drink segment. With intensifying, growth soy drinks offers a broad spectrum of product to choose from.
Global Soy Drinks Market: Drivers
Soy drinks are contributing significantly in functional foods and beverages industry leading towards paradigm shift from soft drinks to healthy drinks yet not compromising on taste. Soy drinks being nutritious is becoming the prominent option for youth and health conscious consumers. Their cost effective factor contributes the most towards its penetration in the market along with its longer shelf life. With its inherent nutritious properties, it is considered the beneficial option for growing infants as it adds to the mineral content of bone. The exponential growth of soy drink is attributed to its easy availability in the market.
Although, recent studies have shown that soy product have a higher content of estrogen which acts as an aggravating factor of breast cancer reoccurrence. Moreover, with high sugar content, it boosts the calories and increases the risk of heart diseases. These factors restrict the adoption of soy-based products, thus hindering the overall soy drinks market growth.
Global Soy Drinks Market: Segmentation
On the basis of product type, soy drinks market is segmented into:-
On the basis of form, soy drinks market is segmented into:-
On the basis of source, soy drinks market is segmented into:-
On the basis of application, soy drinks market is segmented into:-
- Cultured soy
- Frozen desert
- Cheese analog
- Nutritional bar
- Non-diary creams
On the basis of flavours, soy drinks market is segmented into:-
- Organic unsweetened
Global Soy drinks market: Region wise Outlook
The soy drinks market is distributed into seven regions, i.e. North America, Latin America, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, Middle East and Africa (MEA) and Eastern Europe. With increasing lifestyle diseases and aging population in North America, consumers are drifting towards functional foods offering a broad spectrum of health benefits. Therefore, soy drinks being healthy and available at affordable prices, an increase in demand has been observed in North America. U.S is considered to be the leading producer of soy products. Soy milk is the preferred choice of consumers in soy drinks as it serves as a healthy alternative to dairy milk. Among the European countries, Germany is the premier market for soy product. Recently, Yoplait which is the yogurt manufacturer launched Bioplait, which is the combination of dairy protein and soy.
In Asia Pacific, China is becoming the fastest emerging soy drinks market whose growth is estimated to escalate manifold followed by India. Japan is also witnessing upwelling growth in the soy drinks market due to altering the choice of consumers towards soy-based products.
Global Soy drinks Market: Key Players
The introduction of new soy beverages provides a massive platform for the development of this growing market. Some of the major key players of the global soy drinks market includes:
- WhiteWave Services, Inc.
- Organic Valley
- Kikkoman Pearl Soymilk
- Alko International BV
- Eden Foods, Inc.
- WhiteWave Foods company
- American Soy Products, Inc.
- Hain Celestial Group
- Pacific Foods of Oregon, Inc.
- SunOpta Inc.
- The Hain Celestial Group, Inc
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.