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Soy Beverages Market by Type and Geography - Forecast and Analysis 2022-2026

  • Published: Jul 2022
  • Pages: 125
  • SKU: IRTNTR74087
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The soy beverages market share is expected to increase by USD 3.82 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.52%.

This soy beverages market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers soy beverages market segmentation by type (soy milk and soy-based drinkable yogurt) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The soy beverages market report also offers information on several market vendors, including 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 Platter, Vitasoy International Holdings Ltd., and SunOpta Inc. among others.

What will the Soy Beverages Market Size be During the Forecast Period?

Soy Beverages Market Size

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Soy Beverages Market: Key Drivers, Trends, and Challenges

The growing demand for soy beverages from lactose-intolerant and vegan consumers is notably driving the soy beverages market growth, although factors such as the availability of substitute functional beverages may impede market the growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the soy beverages industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.

Key Soy Beverages Market Driver

The growing demand for soy beverages from lactose-intolerant and vegan consumers is one of the major drivers impacting the soy beverages market growth. Consumers with lactose intolerance cannot digest lactose (a type of sugar found in milk and dairy products). Some symptoms of lactose intolerance are bloating, cramps, diarrhea, and nausea. The number of individuals with lactose intolerance is increasing in European countries, such as Italy, Germany, Spain, Turkey, Poland, France, and the UK. Thus, the demand for lactose-free products and products that have a low lactose content is increasing at a fast pace. Soy beverages, including soy milk, are a viable alternative to cow's milk. With an increase in the number of lactose-intolerant people, the demand for soy beverages will increase at a rapid rate during the forecast period globally. The sales of plant-based milk, including soy milk, in the US, increased by 20% in 2020. The Millennial population living in such countries is opting for soy beverages due to ethical issues over animal cruelty. These factors will propel the demand for soy beverages and augment the growth of the global soy beverages market during the forecast period.

Key Soy Beverages Market Trend

New product launches is one of the major trends influencing the soy beverages market growth. The global soy beverages market is highly competitive. Vendors worldwide are increasingly focusing and spending on R&D and launching organic, flavored, and unflavored soy beverages to cater to the growing demand for such healthy and functional beverages from consumers. The global soy beverages market has witnessed an increase in the number of new launches of soy milk and soy-based drinkable yogurt products. Vendors in the market adopt strategies such as new product launches to tackle the competition in the market. They invest in developing innovative soy beverages to increase their foothold in the market. Moreover, the intense competition in the market is expected to compel the established vendors to increase their market presence. Such activities will drive the growth of the global soy beverages market during the forecast period.

Key Soy Beverages Market Challenge

The availability of substitute functional beverages is one of the major challenges impeding the soy beverages market growth. There is a wide range of substitutes for soy beverages that are available in the market. Numerous prominent brands offer alternative functional beverages, dairy products, and other plant-based alternatives, such as rice, oats, potato, coconut, hemp, and cashew milk. In recent years, there has been a growing demand for functional beverages that contain nutrients, such as protein, calcium, vitamin D, vitamin A, vitamin B12, potassium, phosphorus, riboflavin, and niacin. This can be attributed to increasing consumer awareness of the benefits of functional beverages. Alternatives to soy milk made from ingredients such as rice, oats, hemp, and cashew, are consumed by people who are allergic to soy. To cater to the growing consumer demand for functional beverages, food and beverage manufacturing companies are frequently launching new products. The availability of such alternatives can pose a threat to the growth of the global soy beverages market during the forecast period.

This soy beverages market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global soy beverages market as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the soy beverages market during the forecast period.

Who are the Major Soy Beverages Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • 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 Platter
  • Vitasoy International Holdings Ltd.
  • SunOpta Inc.

 

This statistical study of the soy beverages market encompasses successful business strategies deployed by the key vendors. The soy beverages market is fragmented and the vendors are deploying growth strategies such as price, quality, innovation, service, packaging, brand image, distribution, and promotion to compete in the market.

Product Insights and News

  • urbanplatter.in - The company offers soy beverages such as pasteurized soy milk.
  • urbanplatter.in - The company offers baking and flavoring, flours and starches, oil and vinegar, and snacks

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The soy beverages market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Soy Beverages Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the soy beverages market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the packaged foods and meats market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions of the Soy Beverages Market?

Soy Beverages Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

36% of the market’s growth will originate from North America during the forecast period. The US is the key market for the soy beverages market in North America. Market growth in this region will be faster than the growth of the market in other regions.

The increase in the consumption of soy beverages, including soy milk and soy-based drinkable yogurt will facilitate the soy beverages market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the business operations of vendors in the regional soy beverages market were negatively impacted due to the outbreak of COVID-19. However, in H2 2021, the availability of vaccines and increased vaccination coverage of the population, along with the decline in the number of COVID-19 cases, led to the lifting of the nationwide lockdowns. Therefore, the demand for soy beverages returned to normal as retail outlets such as grocery stores, convenience stores, hypermarkets, and supermarkets reopened in the region. Following the outbreak of COVID-19, consumers in the region have been taking their health more seriously. The inclination for healthier food and beverage options has grown due to increased consumer awareness and the adoption of healthier lifestyles. The consumption of fortified, organic functional beverages, such as soy beverages, has increased in recent years in the region. Owing to these factors, the regional soy beverages market is expected to grow during the forecast period.

What are the Revenue-generating Type Segments in the Soy Beverages Market?

Soy Beverages Market Share

To gain further insights on the market contribution of various segments Request a PDF Sample

The soy beverages market share growth in the soy milk segment will be significant during the forecast period. Since health and convenience are accorded priority by consumers while purchasing milk products, vendors in the global soy beverages market have diversified their soy milk product offerings with a wide range of flavored and unsweetened soy milk products that are tailored to cater to the specific needs of different consumer categories. A wide variety of soy milk products are available in the global soy beverages market, owing to the increasing number of new product launches by prominent vendors in the market as well as increasing consumer demand for these products. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the soy beverages market size and actionable market insights on post COVID-19 impact on each segment.

 

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

$ 3.82 billion

Market structure

Fragmented

YoY growth (%)

4.7

Regional analysis

North America, Europe, APAC, South America, and the Middle East and Africa

Performing market contribution

North America at 36%

Key consumer countries

US, China, Japan, UK, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

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 Platter, Vitasoy International Holdings Ltd., and SunOpta Inc. 

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

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What are the Key Data Covered in this Soy Beverages Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive soy beverages market growth during the next five years
  • Precise estimation of the soy beverages market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the soy beverages industry across North America, Europe, APAC, South America, the Middle East, and Africa
  • A thorough 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

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Type

    • 5.1 Market segments
      • Exhibit 24: Chart on Type - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Type - Market share 2021-2026 (%)
    • 5.2 Comparison by Type
      • Exhibit 26: Chart on Comparison by Type
      • Exhibit 27: Data Table on Comparison by Type
    • 5.3 Soy milk - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Soy milk - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Soy milk - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Soy milk - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Soy milk - Year-over-year growth 2021-2026 (%)
    • 5.4 Soy-based drinkable yogurt - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Soy-based drinkable yogurt - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Soy-based drinkable yogurt - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Soy-based drinkable yogurt - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Soy-based drinkable yogurt - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Type
      • Exhibit 36: Market opportunity by Type ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 APAC - Market size and forecast 2021-2026
      • Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 UK - Market size and forecast 2021-2026
      • Exhibit 66: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.10 Germany - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.11 China - Market size and forecast 2021-2026
      • Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.12 Japan - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 American Soy Products Inc.
              • Exhibit 89: American Soy Products Inc. - Overview
              • Exhibit 90: American Soy Products Inc. - Product / Service
              • Exhibit 91: American Soy Products Inc. - Key offerings
            • 10.4 Jaffe Bros Inc
              • Exhibit 92: Jaffe Bros Inc - Overview
              • Exhibit 93: Jaffe Bros Inc - Product / Service
              • Exhibit 94: Jaffe Bros Inc - Key offerings
            • 10.5 Life Health Foods
              • Exhibit 95: Life Health Foods - Overview
              • Exhibit 96: Life Health Foods - Business segments
              • Exhibit 97: Life Health Foods - Key offerings
              • Exhibit 98: Life Health Foods - Segment focus
            • 10.6 Nestle SA
              • Exhibit 99: Nestle SA - Overview
              • Exhibit 100: Nestle SA - Business segments
              • Exhibit 101: Nestle SA - Key news
              • Exhibit 102: Nestle SA - Key offerings
              • Exhibit 103: Nestle SA - Segment focus
            • 10.7 PACIFIC FOODS OF OREGON LLC
              • Exhibit 104: PACIFIC FOODS OF OREGON LLC - Overview
              • Exhibit 105: PACIFIC FOODS OF OREGON LLC - Product / Service
              • Exhibit 106: PACIFIC FOODS OF OREGON LLC - Key offerings
            • 10.8 PureHarvest
              • Exhibit 107: PureHarvest - Overview
              • Exhibit 108: PureHarvest - Product / Service
              • Exhibit 109: PureHarvest - Key offerings
            • 10.9 Sofina SA
              • Exhibit 110: Sofina SA - Overview
              • Exhibit 111: Sofina SA - Product / Service
              • Exhibit 112: Sofina SA - Key offerings
            • 10.10 SunOpta Inc.
              • Exhibit 113: SunOpta Inc. - Overview
              • Exhibit 114: SunOpta Inc. - Business segments
              • Exhibit 115: SunOpta Inc. - Key offerings
              • Exhibit 116: SunOpta Inc. - Segment focus
            • 10.11 The Hain Celestial Group Inc.
              • Exhibit 117: The Hain Celestial Group Inc. - Overview
              • Exhibit 118: The Hain Celestial Group Inc. - Business segments
              • Exhibit 119: The Hain Celestial Group Inc. - Key news
              • Exhibit 120: The Hain Celestial Group Inc. - Key offerings
              • Exhibit 121: The Hain Celestial Group Inc. - Segment focus
            • 10.12 TOFUSAN Co. Ltd.
              • Exhibit 122: TOFUSAN Co. Ltd. - Overview
              • Exhibit 123: TOFUSAN Co. Ltd. - Product / Service
              • Exhibit 124: TOFUSAN Co. Ltd. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 125: Inclusions checklist
                • Exhibit 126: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 127: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 128: Research methodology
                • Exhibit 129: Validation techniques employed for market sizing
                • Exhibit 130: Information sources
              • 11.5 List of abbreviations
                • Exhibit 131: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Soy Beverages market growth will increase by $3821.4 million during 2022-2026.
              The soy beverages market is expected to grow at a CAGR of 5.52% during 2022-2026.
              Technavio has segmented the soy beverages market by geographic (North America, Europe, APAC, South America, and Middle East and Africa).
              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 Platter, Vitasoy International Holdings Ltd., SunOpta Inc. are a few of the key vendors in the soy beverages market.
              North America will register the highest growth rate of 36.09% among the other regions. Therefore, the soy beverages market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the soy beverages market growth are:
              • Growing demand for soy beverages from lactose-intolerant and vegan consumers
              • New product launches
              The soy beverages market vendors should focus on grabbing business opportunities from the segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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