APAC Soy Beverages Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.90 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Soy Beverages Market Analysis
The Asia-Pacific soy beverage market is projected to grow at a CAGR of 5.9% during the forecast period.
- The shift away from traditional dairy products, such as cow milk, toward plant-based
alternatives revolve around health concerns, with an increasing number of consumers coming to believe that plant-based foods are healthier than animal-based foods. - Furthermore, there is a growing consumer base that is motivated by animal welfare concerns, leading them to choose plant-based beverages, as well as other plant-based foods over animal-based products.
- The various health benefits of soy milk such as less cholesterol, heart disease reduction and the increasing number of health-conscious consumers are also factors driving the market.
APAC Soy Beverages Market Trends
This section covers the major market trends shaping the APAC Soy Beverages Market according to our research experts:
Rising Popularity of Dairy Alternatives
Consumers are starting to prefer products that are low in calories, contain no artificial ingredients and protein-rich and thus driving the market for soy beverages. Plant-based beverages provide vegetable protein or mixed proteins, which cater to the rising demand for a healthy lifestyle. Consumers are increasingly looking for lactose-free dairy alternatives, derived from plant sources, and the choice of products multiplying on the shelves satisfies health and wellness-orientated consumers' taste for novelty and variety. In Asia-Pacific, plant-based beverages make up a promising category, because of traditional acceptance of soy.
Supermarket/Hypermarket Holds Greatest Share in the Sales of Soy Beverages
The dairy alternative/plant-based diet is mainly seen among the urban population. Hence soy milk will be having a larger market in the urban areas, where supermarkets or hypermarkets are the major channels of distribution. Soymilks are mainly stored in refrigerated cases and are also available in aseptic packages. Supermarkets or hypermarkets have proper refrigeration facilities to store the products for a longer time without any change in the properties. Soymilk is available in different flavors other than its original flavor and various fortifications, supermarkets/hypermarkets provide them enough shelf space to exhibit the products. Since the supermarket's purchase in bulk they have increased bargaining power over the price and it can be converted as discounts to attract the customers.
APAC Soy Beverages Industry Overview
The Asia-Pacific soy beverage market is fragmented and the dominating players in the market are Danone, Eden Foods, Inc., Kikkoman Corporation, Vitasoy International Holdings Limited. The key players are adopting strategies such as new product launches, expansion, partnerships and mergers, and acquisition to meet the growing demand from consumers.
APAC Soy Beverages Market Leaders
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Danone
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Eden Foods, Inc.
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Kikkoman Corporation
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Vitasoy International Holdings Limited
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Pureharvest
*Disclaimer: Major Players sorted in no particular order
APAC Soy Beverages Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 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 Soy-Based Drinkable Yogurt
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5.2 By Flavor
- 5.2.1 Plain Soy Beverages
- 5.2.2 Flavored Soy Beverages
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5.3 By Distribution Channel
- 5.3.1 Supermarkets/Hypermarkets
- 5.3.2 Convenience Stores
- 5.3.3 Online Retail Stores
- 5.3.4 Others
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5.4 Geography
- 5.4.1 Asia Pacific
- 5.4.1.1 China
- 5.4.1.2 Japan
- 5.4.1.3 India
- 5.4.1.4 Australia
- 5.4.1.5 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
- 6.1 Most Active Companies
- 6.2 Most Adopted Strategies
- 6.3 Market Share Analysis
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6.4 Company Profiles
- 6.4.1 Kikkoman Corporation
- 6.4.2 Vitasoy International Holdings Limited
- 6.4.3 The Sanitarium Health and Wellbeing Company
- 6.4.4 Australia's Own
- 6.4.5 Pureharvest
- 6.4.6 Danone
- 6.4.7 Eden Foods, Inc.
- 6.4.8 Campbell Soup Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
APAC Soy Beverages Industry Segmentation
Asia-Pacific soy beverages market can be segmented by type which is classified as soy milk and soy-based drinkable yogurt. The market is also divided on the basis of flavor including plain soy beverages and flavored soy beverages. Based on the distribution channel, the soy beverages market is classified as supermarkets/hypermarkets, convenience stores, online retail stores and others. Moreover, the study provides an analysis of the soy beverages market in the across the region of China, Japan, India, Australia and rest of asia-pacific
| By Type | Soy Milk | |
| Soy-Based Drinkable Yogurt | ||
| By Flavor | Plain Soy Beverages | |
| Flavored Soy Beverages | ||
| By Distribution Channel | Supermarkets/Hypermarkets | |
| Convenience Stores | ||
| Online Retail Stores | ||
| Others | ||
| Geography | Asia Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| Rest of Asia-Pacific |
APAC Soy Beverages Market Research FAQs
What is the current Asia Pacific Soy Beverages Market size?
The Asia Pacific Soy Beverages Market is projected to register a CAGR of 5.90% during the forecast period (2024-2029)
Who are the key players in Asia Pacific Soy Beverages Market?
Danone, Eden Foods, Inc., Kikkoman Corporation, Vitasoy International Holdings Limited and Pureharvest are the major companies operating in the Asia Pacific Soy Beverages Market.
What years does this Asia Pacific Soy Beverages Market cover?
The report covers the Asia Pacific Soy Beverages Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia Pacific Soy Beverages Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia Pacific Soy Beverages Industry Report
Statistics for the 2024 Asia Pacific Soy Beverages market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia Pacific 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.
