Japan Soy Beverages Market Outlook
The Japan Soy Beverages Market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 4.5% during 2023–2031. The growth of the market is attributed to the growing demand for lactose-free food products.
Soy beverage, such as soy protein, is a plant-based beverage made by washing and crushing soybean, then heating and straining the mixture. Soy milk is used as a dairy milk alternative by vegans and lactose-intolerant population as it has a similar flavor and consistency as compared to dairy milk and is a good source of low-fat and cholesterol-free milk.
Soy-based goods, notably carbs, proteins, and omega-3 fatty acids, are considered nutritious and cholesterol-free. Vitamin A, vitamin D, vitamin B, and magnesium are abundant in soy. Soy milk is used in vegan and vegetarian food items and as a substitute for cow's milk in numerous recipes in japan.
Market Trends, Drivers, Restraints, and Opportunities
- The nutritional content of food is becoming increasingly important to consumers, which is expected to drive market growth.
- Rising number of lactose intolerant and health conscious customer is propelling the market expansion.
- The presence of alternative dairy-free beverages such as almond milk can create challenges for the market.
- Soy crop genetic modification affects a large number of people can hamper market growth.
- Expanding adoption of soy-beverages as dietary supplement can create various opportunities for the Japan soy beverages market.
Scope of Japan Soy Beverages Market Report
The report on the Japan soy beverages market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Soy Beverages Market - Japan Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product Types (Soy Milk and Soy-based Drinkable Yogurt), Flavors (Plain Soy Beverages and Flavored Soy Beverages), and Distribution Channels (Supermarkets/Hypermarkets, Convenience Stores, Online Retail Stores, and Others)
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Country
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Japan
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Lam Soon Group; Otsuka Pharmaceutical Co., Ltd.; Kikkoman Corporation; MARUSAN-AI Co., Ltd; and The Hain Celestial Group
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Japan Soy Beverages Market Segment Insights
Soy milk segment is expected to grow at a rapid pace
Based on product types, the market is divided into soy milk and soy-based drinkable yogurt. The soy milk segment is expected to grow at a rapid pace during the forecast period due to adoption of animal milk alternative beverages.
Moreover, soy milk is becoming increasingly preferable as it’s cholesterol-free and contains less saturated fat than cow's milk. Furthermore, the widespread availability of soy-milk in a variety of flavors, including chocolate and vanilla has boosted the soy-milk market in Japan in coming years.
Flavored soy beverages segment is projected to expand at a considerable CAGR
On the basis of flavors, the market is segregated into plain soy beverages and flavored soy beverages. The flavored soy beverages segment is projected to expand at a considerable CAGR during the forecast period due to soy's cholesterol-free, omega-3-rich, and protein content. Moreover, the preference for flavored beverages among GenZ and millennials is estimated to spur the market growth.
Supermarkets/hypermarkets segment is anticipated to account for a significant market share
In terms of distribution channels, the market is segregated into supermarkets/hypermarkets, convenience stores, online retail stores, and others. The supermarkets/hypermarkets segment is estimated to account for a significant market share during the forecast period as supermarkets and hypermarkets provide consumers more competitive prices compared with traditional stores.
Furthermore, these stores have adequate refrigeration capabilities to keep products fresh for longer period of time without losing their properties. Soymilk comes in a variety of flavors in addition to its original flavor, as well as numerous fortifications, and supermarkets and hypermarkets allow ample shelf space for the items to be displayed.
Segments
The japan soy beverages market has been segmented on the basis of
Product Types
- Soy Milk
- Soy-based Drinkable Yogurt
Flavors
- Plain Soy Beverages
- Flavored Soy Beverages
Distribution Channels
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Retail Stores
- Others
Country
Key Players
Competitive Landscape
Key players competing in the japan soy beverages market are Lam Soon Group; Otsuka Pharmaceutical Co., Ltd.; Kikkoman Corporation; MARUSAN-AI Co., Ltd; and The Hain Celestial Group
Companies are engaging in partnerships with supermarkets and hypermarkets to expand their market share. Moreover, they’re focusing on improving their brand awareness in the country.
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