(Entertainment-NewsWire.com, May 14, 2018 ) The global soy beverage market is expected to grow at an estimated CAGR of 5.6% during the forecast period (2018-2023).
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 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.
The global 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.
Regional Analysis
Asia-Pacific has the highest market for soy beverages due to the rising disposable incomes and the demand for processed foods. It is followed by fast-growing markets like North America and Europe. The demand for soy beverages is also increasing in the developing regions of South America and Africa because of rising health concerns. The growing demand for soy-based products in the developing regions of South America and Africa provide a huge platform for the players to increase their presence and thus, increase their market share.
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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Companies Mentioned:
Danone, Organic Valley, Kikkoman Pearl Soy Milk, The Hain Celestial Group, Eden Foods, ZenSoy, Trader Joe's, Jaffe Bros. Natural Foods, Devansoy
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