Africa Soy Beverages Market - Growth, Trends, and Forecast (2020 - 2025)

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.

Key Market Trends

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.

Competitive Landscape

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.

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