(Entertainment-NewsWire.com, May 10, 2018 ) Africa soy beverage market is expected to register an estimated CAGR of 5.14% during the forecast period 2018-2023. There is a huge scope for development by launching new beverages, and thus, shifting the focus from the traditional and the most opted beverage, plain soy milk.
Key Leading Companies Mentioned:
Danone, Organic Valley, Kikkoman Pearl Soy Milk, The Hain Celestial Group, Eden Foods, ZenSoy, Trader Joe's, Jaffe Bros. Natural Foods, Devansoy
Soy beverages are consumed because of the increased availability of soy, and the scientific facts that prove the many health benefits of the beans; including lowering blood cholesterol and reducing the risk of certain cancers. Additionally, soy beverages are consumed as a replacement for lesser-healthy drinks because of its nutrition content. Soybean-based foods, apart from being a complete source of protein, also contain other important nutrients, such as fiber, B vitamins and omega3 fatty acids. All these nutrients play an important role in the growth of infants, fetal growth in pregnant women, and provide various other benefits for children and adults alike. The rising health consciousness in the developing and developed regions is driving the African soy beverages market. It is a healthy alternative to meat and other animal products and hence, is a good protein source for the vegetarians. However, recent studies on the harmful effects of soy and its derivatives are hindering the growth of the market. Homemade protein rich foods are being opted over processed soy products.
Market Segmentation
Africa soy beverages market can be segmented into soy milk and yogurt smoothies. They are highly recommended for the lactose intolerant or dairy allergic population. The protein content in soy milk is equivalent to that of cow milk; but, unlike cow milk, soy milk has little amounts of saturated fats and no cholesterol. The soy yogurt smoothie is generally low-fat and hence is preferred over regular smoothies.
The region has some major countries like South Africa and Egypt, where the market prospects are high for consumption of soy beverage. However, other countries like Libya, Nigeria, and Zambia etc. are still in their growing phase and the prospects are high in the near future.
Key Developments
April, 2017: Danone has completed the acquisition of WhiteWave, which will add and expand the plant-based category along with its soy milk brand Silk.
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