African Soy Beverages Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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African Soy Beverages Market Analysis
The African soy beverages market is projected to register a CAGR of 6.2% during the forecast period (2020-2025).
- The market for soy beverages witnessed a surge within the region, because of the increased availability of soy and the scientific facts that prove its many health benefits, including lowering blood cholesterol and reducing the risk of certain cancers. Additionally, soy beverages are consumed as a replacement of other healthy drinks, because of their nutritional content.
- The growing prevalence of lactose intolerance in the region, along with supportive government initiatives, has resulted in the growth of the local production.
African Soy Beverages Market Trends
This section covers the major market trends shaping the Africa Soy Beverages Market according to our research experts:
Rising Prevalence of Lactose-intolerance
Infants and children produce enzymes that break down lactose, the sugar found in breast milk and cow's milk, but as we grow up, many of us lose this capacity. Lactose-intolerance is found to be common in the region. Allergies and intolerances are major reasons behind going dairy-free, especially considering the food allergy initiative's statistic that cow's milk allergy is the leading food allergy in infants and children. Plant-based dairy alternatives are naturally lactose-free and are generally considered to be lower in cholesterol and fat than milk from animals. Moreover, they usually offer a similar protein, mineral and vitamin content. The increased launch of lactose-free dairy products and its acceptance among the consumers represents a substantial opportunity for soy beverage manufacturers.
South Africa Holds a Major Market Share
The market is still in its initial stages, in terms of the consumption of soy beverages. However, the increasing number of lactose intolerant consumers is expected to boost the market and increased awareness and acceptance of plant-based milk, changing dietary preferences of consumers, due to increasing health concerns, new product launches, and innovations in the market are expected to drive the market. Soy beverages provide a high-quality, adaptable and economical protein resource for households and communities in the country where other sources of protein are inaccessible due to cost or availability. Community-scale soybean processing units, known as SoyCows, are capable of providing entrepreneurs in the country with new market opportunities that support both economic growth and nutrition.
African Soy Beverages Industry Overview
The African soy beverages market is a growing one, with the presence of major global players, like Danone and Hain Celestial. The major players in the market are focusing on product developments, as there is a growing demand for plant-based beverages in the region. The market has also seen a growing penetration by the regional players.
African Soy Beverages Market Leaders
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Danone
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CLOVER S.A. (PTY) LTD
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Lactalis SA (Pty) Ltd
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Good Hope International Beverages SA (Pty) Ltd
*Disclaimer: Major Players sorted in no particular order
African Soy Beverages Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
- 3.1 Market Overview
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Type
- 5.1.1 Soy Milk
- 5.1.2 Drinkable Yogurt
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5.2 By Flavor
- 5.2.1 Flavored
- 5.2.2 Unflavored
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5.3 By Distribution Channel
- 5.3.1 Supermarkets/Hypermarkets
- 5.3.2 Convenience Stores
- 5.3.3 Specialist Stores
- 5.3.4 Online Retailing
- 5.3.5 Other Distribution Channels
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5.4 Geography
- 5.4.1 South Africa
- 5.4.2 Nigeria
- 5.4.3 Kenya
- 5.4.4 Rest of Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Most Adopted Strategies
- 6.2 Market Share Analysis
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6.3 Company Profiles
- 6.3.1 Danone
- 6.3.2 CLOVER SA (PTY) LTD
- 6.3.3 Lactalis SA (Pty) Ltd
- 6.3.4 Dewfresh (Pty) Ltd
- 6.3.5 Milky Way Cape Town
- 6.3.6 Vitamilk
- 6.3.7 Hain Celestial
- 6.3.8 Tempus Dynamics
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityAfrican Soy Beverages Industry Segmentation
The African soy beverages market is segmented by type, into soy milk and drinkable yogurt. The market is segmented by flavor, into plain and flavored. By distribution channel, the market is segmented into supermarkets/hypermarkets, pharmacies/drug stores, online retail stores, convenience stores, and other distribution channels. The market is also segmented by geography.
| By Type | Soy Milk |
| Drinkable Yogurt | |
| By Flavor | Flavored |
| Unflavored | |
| By Distribution Channel | Supermarkets/Hypermarkets |
| Convenience Stores | |
| Specialist Stores | |
| Online Retailing | |
| Other Distribution Channels | |
| Geography | South Africa |
| Nigeria | |
| Kenya | |
| Rest of Africa |
African Soy Beverages Market Research FAQs
What is the current Africa Soy Beverages Market size?
The Africa Soy Beverages Market is projected to register a CAGR of 6.20% during the forecast period (2024-2029)
Who are the key players in Africa Soy Beverages Market?
Danone, CLOVER S.A. (PTY) LTD, Lactalis SA (Pty) Ltd and Good Hope International Beverages SA (Pty) Ltd are the major companies operating in the Africa Soy Beverages Market.
What years does this Africa Soy Beverages Market cover?
The report covers the Africa Soy Beverages Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Africa Soy Beverages Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
African Soy Beverages Industry Report
Statistics for the 2024 African Soy Beverages market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. African Soy Beverages analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
