The North America soy beverage market size is expected to grow at a robust CAGR during the forecast period, 2021-2028. The growth of market is attributed to increasing awareness towards organic based product, and scientific proven facts benefits associated with soy which also includes low blood cholesterol.
The growing demand for beverages, associate with health & hygiene availability in multiple distribution channels and are socially acceptance of soy is anticipated to surge the market in the coming years. North America has witnessed extensive rise in the demand of processed foods, such as ready-to-cook, canned foods, and bottled beverages.
Soy based products are generally alternative of dairy based products for vegans or the lactose-intolerant people its consistency and tastes similar to the traditional one, but it comprises a big source of cholesterol-free milk, nutrient rich, rich in carbohydrates, omega-3, and proteins and also a great source of vitamins A, D, B, and magnesium.
The report on the North America soy beverages market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Soy beverages market – North America Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Types (Soy Milk, Soy-based Drinkable Yogurt), Flavors (Plain Soy Beverages, and Flavored Soy Beverages), Distribution Channels (Retail Stores, Pharmacies/Drug Stores, Supermarket/Hypermarket, Convenience Stores, Others) |
Geographical Scope |
United States, Canada, Mexico, Rest of North America |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Danone; Hershey’s; Hain Celetial; Trader Joe’s; Kikkoman Pearl Soy Milk. |
Based on the types, the market is segregated into soy milk and soy-based drinkable yogurt. The soy milk segment is expected to hold a key share of the market in the coming years owing to the factors associated with soy based products such as nutrient rich, cholesterol free, reduces risk of cancer also many consumers prefers due to weigh conscious or some who are trying to lose weight. However soy based drinkable yogurt segment is estimated to grow at a rapid pace due to low in fat content and hence preferred over regular beverages.
On the basis of flavors, the market is categorized into plain soy beverages and flavored soy beverages. The flavored segment is expected to exhibit high CAGR in the coming years due to rising popularity among the millennial and young generations, variation in flavors such as vanilla, chocolate, fruits are popular among kids, with the successful combination of flavor with the original soy taste is widely accepted by the population.
Based on the distribution channels, the market is fragmented into retail stores, pharmacies/drug stores, supermarket/hypermarket, convenience stores, and others. The supermarket/hypermarket segment is anticipated to account for major share of the market during the projected period owing to dedicated aisles, attractive shelf positioning, discounts, bundling strategies, and growing number of super and hypermarket in urban area offering wide variety of products within a segment.
In the term of geographies, the market is fragmented into United States, Canada, Mexico, and Rest of North America. The United States segment is estimated dominate the market during the forecast period owing to the lack of physical movement/workout, unusual eating pattern, and high consumption of junk food resulting in growth of obesity population and reduces the body weight.
North America soy beverages market has been segregated on the basis of
Key players competing in North America dairy alternative market include SunOpta Inc.; Blue Diamond Growers; Earth’s Own Food Company; Dean Food Company; Groupe Danone.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance
In February 2021, Groupe DANONE announced that they have entered into a purchase agreement with Earth Island the maker of follow your heart brand the pioneers in plant based food to acquire 100% of the share.
In July 2021, Groupe DANONE plans to offer a new plant based milk alternative with improved taste and texture.
North America soy beverages market has been segregated on the basis of
Key players competing in North America dairy alternative market include SunOpta Inc.; Blue Diamond Growers; Earth’s Own Food Company; Dean Food Company; Groupe Danone.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance
In February 2021, Groupe DANONE announced that they have entered into a purchase agreement with Earth Island the maker of follow your heart brand the pioneers in plant based food to acquire 100% of the share.
In July 2021, Groupe DANONE plans to offer a new plant based milk alternative with improved taste and texture.
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