The soy beverage market will reach $38.86 billion by 2032.

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NEWARK, April 24, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the soy beverage market will reach US$38.86 billion by 2032, up from US$21.5 billion in 2022. The most important characteristic of soy milk is its blood lipid profile. Unlike cow’s milk, which is high in saturated fat and cholesterol, soy milk fat is mostly unsaturated and has zero cholesterol.

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Learn more about report coverage

report coverage detail
Forecast period 2023–2032
base year 2022
Market size in 2022 US$21.5 billion
Market size in 2032 US$38.86 billion
CAGR 6.10%
number of pages in the report 237
Target segment Product type, distribution channel
driver promote weight loss
chance best vegetable protein source
Restraint soy allergy

Key Insights in the Soy Beverage Market

North America will account for the largest market size during the forecast period.

North America is expected to have the largest market share in the soy beverage market. The growth of the soy beverage market in the North America region can be attributed to rising lifestyle diseases and an aging population in North America, with customers shifting to functional foods that offer a wide range of health benefits. Developing regions such as Africa and South America are also seeing a growing need for soy beverages due to rising health issues. The growing need for soy-based products in the developing regions of South America and Africa provides a massive platform for players to expand their presence and develop market growth.

The soymilk 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 drinking yogurt and soy milk. The soymilk 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 drink that is popular as a substitute for cow’s milk. It’s made from soybeans, and multiple brands like Silk fortify their soymilk with vitamins and minerals such as calcium and vitamin D.

The flavors 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 flavor segment dominated the market, with a market share of around 58% and market revenue of 12.47 billion in 2022. Flavored soy milk is typically available in vanilla and chocolate, but other flavors such as 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 pharmacies, supermarkets/hypermarkets, convenience stores, retail outlets, 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. Increasing trend of online purchases post-covid is also contributing to the growth of the market. The online channel helps manufacturers lower the rental prices and workforce of offline stores.

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Market entry

In March 2020, Asahi Group Holdings, Ltd. established a soy milk version of the dairy drink Calpis. The company is specifically targeting her 30- to 40-year-old female customers who are health conscious.

market dynamics

Driver: Helps lower cholesterol levels

Soy milk is composed of saponins and isoflavones, which may have antioxidant properties. Studies have shown that it may lower bad cholesterol levels and raise good cholesterol levels. Additional research is needed on the effects of soy milk on cholesterol levels in humans.

Restrictions: added sugar

Some types of soy milk have serious nutritional drawbacks due to the added sugar. increase. The unsweetened ones contain just 1 gram of naturally occurring sugar per cup and no added sugar. Approximately 20 grams and 7 grams of sugar are added per serving, respectively, which could hamper the growth of the market.

Opportunity: Helps improve lipid profile

A key component of soy milk is its ability to improve blood lipid profiles. The monounsaturated and polyunsaturated fatty acids in soy can block the flow of cholesterol into the bloodstream. Studies have shown that regular soy consumption significantly lowers blood levels of triglycerides and low-density lipoproteins (LDL) and increases high-density lipoproteins (HDL). The collective effect makes soy milk ideal for those with high cholesterol or a family history of coronary heart disease.

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Some of the key players operating in the soy beverage market are:

• The Hain Celestial Group Inc.
• Takeda Pharmaceutical Company Limited
•Solh Fagito
• Sofina SA
• Sanitarium Health Food Co.
• Pure Harvest
• Pacific Foods of Oregon LLC
• Nestlé SA
• Life Health Foods
• Kikkoman Sales USA Inc.
• Jaffe Bros. Inc.
• Eden Foods, Inc.
• Devansoy Co., Ltd.
• American Soy Products, Inc.

The main segments covering the market are:

By product type:

• Soy-based drinking yogurt
• soy milk

By flavor:

•Plain/Unscented
• seasoning

By distribution channel:

• pharmacy
• Supermarket/Hypermarket
• convenience store
• retail store
• Online
• others

By region

• North America (USA, Canada, Mexico)
• Europe (Germany, France, UK, Italy, Spain, rest of Europe)
• Asia Pacific (China, Japan, India, rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)

About the report:

The market is analyzed based on value (USD Billion). All segments are analyzed globally, by region, and by country. The study includes analysis of over 30 countries for each part. This report analyzes drivers, opportunities, constraints and challenges to gain key insights on the market. The study includes Porter’s five force model, attractiveness analysis, product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing his channel analysis.

About The Brainy Insights:

Brainy Insights is a market research company that aims to provide companies with actionable insights through data analytics to improve business insight. We have robust forecasting and estimating models to meet our clients’ goals of delivering high quality output in a short period of time. We offer both customized (client-specific) and syndicated reports. Syndicated report repositories are diverse across all categories and subcategories across domains. Our customized solutions are tailored to meet client requirements, whether they are looking to expand or plan to launch new products in the global market.

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