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
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- Eastern Europe (Poland and Russia)
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