North America Soy Beverages Market Size, Industry [2031]
North America Soy Beverages Market Size, Industry [2031]
Segments - North America Soy Beverages Market by Product Types (Soy Milk and Soy-based Drinkable Yogurt), Flavors (Plain Soy Beverages and Flavored Soy Beverages), Distribution Channels (Retail Stores, Pharmacies/Drug Stores, Supermarket/Hypermarket, Convenience Stores, and Others), Geography (North America [United States, Canada, Mexico, and Rest of North America]) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
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| Report ID :FB-3152
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| 215 Pages
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Report Description
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.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing disposable income, continuous change in lifestyle and eating habits is estimated to surge the market during the forecast period.
- Growing awareness of health benefits associated with soy based products is expected to drive the market in the coming years.
- Rising adoption of organic based products mostly soy amongst the population, which reduces the risk of cancer and maintain cholesterol level is anticipated to spur the market in the coming years.
- Increasing innovations and constant product developments within the soy segments is estimated to propel the market during the projected period.
- Allergies associated with the dairy products and increasing number of vegan population is anticipated to boost the market in the coming years.
- Increasing number of soy alternative such as plant based beverage act as one of the major factor hindering the market expansion during the forecast period.
Scope of the market
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.
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Attributes |
Details |
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Report Title |
Soy beverages market – North America Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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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) |
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Geographical Scope |
United States, Canada, Mexico, Rest of North America |
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Report Coverage |
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 |
Danone; Hershey’s; Hain Celetial; Trader Joe’s; Kikkoman Pearl Soy Milk. |
Market Segment Insights
The soy milk segment is expected to hold a key share of the market
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.
The flavored segment is expected to exhibit high CAGR
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.
The supermarket/hypermarket segment is anticipated to account for major share of the market
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.
The United States is estimated dominate the market
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.
Segments
North America soy beverages market has been segregated on the basis of
Types
- Soy Milk
- Soy-based Drinkable Yogurt
Flavors
- Plain Soy Beverages
- Flavored Soy Beverages
Distribution Channels
- Retail Stores
- Pharmacies/Drug Stores
- Supermarket/Hypermarket
- Convenience Stores
- Others
Geographies
- United States
- Canada
- Mexico
- Rest of North America
Key Players
- DANONE
- Hershey’s
- Hain Celetial
- Trader Joe’s
- Kikkoman Pearl Soy Milk
Competitive Landscape
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.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Soy Beverages Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Soy Beverages Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Soy Beverages Market - Supply Chain
4.5. Global Soy Beverages Market Forecast
4.5.1. Soy Beverages Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Soy Beverages Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Soy Beverages Market Absolute $ Opportunity
5. Global Soy Beverages Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Soy Beverages Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Soy Beverages Demand Share Forecast, 2019-2026
6. North America Soy Beverages Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Soy Beverages Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Soy Beverages Demand Share Forecast, 2019-2026
7. Latin America Soy Beverages Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Soy Beverages Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Soy Beverages Demand Share Forecast, 2019-2026
8. Europe Soy Beverages Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Soy Beverages Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Soy Beverages Demand Share Forecast, 2019-2026
9. Asia Pacific Soy Beverages Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Soy Beverages Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Soy Beverages Demand Share Forecast, 2019-2026
10. Middle East & Africa Soy Beverages Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Soy Beverages Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Soy Beverages Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Soy Beverages Market: Market Share Analysis
11.2. Soy Beverages Distributors and Customers
11.3. Soy Beverages Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
Methodology
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