Soy Beverages Market to record USD 3.82 Bn growth — Driven by increasing demand from lactose-intolerant and vegan consumers – QNT Press Release

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NEW YORK, Sept. 12, 2022 /PRNewswire/ — The “Soy Beverages Market by Type and Geography – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. The market is set to grow by USD 3.82 billionexpanding at a CAGR of 5.52% during the forecast period. The report considers various aspects such as the consumer base, adoption rate, average selling price, revenue generated by vendors, and various other factors to estimate the market size. Download Sample PDF Report

The global soy beverages market is fragmented and has the presence of various small and large vendors that offer soy milk and soy-based drinkable yogurt. The market includes companies of varying sizes, with some of them being more specialized than others with respect to their products . Some of the prominent vendors in the market include American Soy Products Inc., Devansoy Inc., Eden Foods Inc., Jaffe Bros Inc, Kikkoman Sales USA Inc., Life Health Foods, Nestle SA, PACIFIC FOODS OF OREGON LLC, PureHarvest, Sanitarium Health Food Co., Sofina SA, SolhFagito, Takeda Pharmaceutical Co. Ltd., The Hain Celestial Group Inc., The Hershey Co., TOFUSAN Co. Ltd., Urban PlatterVitasoy International Holdings Ltd., and SunOpta Inc.

The vendors in the market compete based on factors such as price, quality, innovation, service, packaging, brand image, distribution, and promotion. Thus, technological advances by one player can render the products introduced by other vendors obsolete or uneconomical. There are also stringent regulatory requirements that create high entry barriers for new entrants. Moreover, significant investments are required in the R&D of soy beverages, which compels small vendors to partner with bigger players; this will be highly beneficial for the growth of the global soy beverages market during the forecast period.

The growing demand for soy beverages from lactose-intolerant and vegan consumers will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments. Request Sample Report Here

Soy Beverages Market 2022-2026: Segmentation

The global soy beverages market is segmented as below:

  • Type
    • Soy Milk
    • Soy-based Drinkable Yogurt

The market growth in the soy milk segment will be significant over the forecast period. The increasing number of new product launches by prominent and the increasing consumer demand for soy milk products are driving the growth of the segment.

  • Geography
    • North America
    • Europe
    • APAC
    • South America
    • The Middle East and Africa

North America is the prime market for soy beverages, occupying 36% of the global market share. The regional market is driven by an increase in the consumption of soy beverages, including soy milk and soy-based drinkable yogurt.

Soy Beverages Market 2022-2026: Vendor Analysis and Scope

Technavio’s report provides a detailed analysis of around 25 vendors operating in the market. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Backed with competitive intelligence and benchmarking, our research report on the soy beverages market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

The report also covers the following areas:

Soy Beverages Market 2022-2026: Key Highlights

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will assist soy beverages market growth during the next five years
  • Estimation of the soy beverages market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the soy beverages market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of soy beverages market vendors

Related Reports:

Soy Beverages Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.52%

Market growth 2022-2026

USD 3.82 billion

Market structure

Fragmented

Full story available on Benzinga.com

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