Market Trends of China Soy Beverages Industry
Increasing Demand for Plant-based Products Due to Raising Lactose Intolerance
- The rising awareness and interest in the vegan lifestyle and animal product allergies are driving the demand for plant-based products in China. The use of plant proteins in nutritional and dietary supplements is common, and the prevalence of health disorders like obesity creates favorable opportunities for the soy beverages market in China. Traditional and alternative medicines that rely on herbal and plant ingredients are also popular in China, making it a suitable market for new and innovative plant-based products made from soy.
- In addition, the increasing incidence of lactose intolerance and the ongoing vegan trend have prompted consumers to seek lactose-free dairy substitutes derived from plant sources. Dairy products are often avoided due to lactose intolerance and allergies, with cow milk allergy being one of the most prevalent food allergies in infants and young children.
- For instance, according to Britannica ProCon.org, in July 2022, 85% of the Chinese population suffers from lactose intolerance. The increased awareness of the health benefits of plant-based food and beverages through social media platforms and advertisements has led to a surge in demand for vegan food and beverages in China.
Understand The Key Trends Shaping This Market
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Health and Wellness Trend Driving the Market Growth
- Soy beverages are gaining popularity among individuals, particularly athletes involved in physical fitness activities. The millennial population is driving the market due to their interest in sports, inclination toward fitness, higher buying capacity, and willingness to purchase healthy products.
- As consumer trends shift, soy beverage manufacturers are evolving new products to meet consumer interests. The growing interest in physical fitness, and the rise of health clubs and fitness centers, have also emerged as drivers for the soy beverage market.
- For instance, China has seen a surge in the number of sports and fitness facilities, with approximately 129,000 gyms as of December 2021, according to the State General Administration of Sports. As the Chinese population becomes more health-conscious, this trend is expected to continue. In addition, with the increase in lifestyle diseases and the aging population, consumers are leaning towards functional foods that offer a broad spectrum of health benefits. As a result, the market for soy beverages in China is being driven by consumers who prefer low-calorie, high-protein, organic, and free of artificial additives beverages. The consumption of soybean is also driving soy beverage consumption in the region.
- Furthermore, soy-based beverages are believed to promote heart and brain health, as well as reduce menopause symptoms. As customers become more aware of the numerous advantages of dairy-free diets, they are transitioning to dairy-free products, such as soy beverages. The market for soy beverages is expected to grow over the forecast period due to increasing consumer awareness of the benefits of soy beverage products and their increased availability.
