Market Overview
Europe soy beverages market is projected to register a CAGR of 5.3% during the forecast period (2019-2024).
Scope of the Report
Europe soy beverage market is segmented by Product Type (Soy Milk, Soy-Based Drinkable Yogurt), by Flavor (Flavored and Plain/Unflavored), Distribution Channel (Supermarkets/Hypermarkets, Pharmacy, Online Retail Stores, Convenience Stores, and Others), and Geography.
Key Market Trends
Increasing Consumption of Lactose Free Products
The sales of lactose-free or plant milk products in Europe is increasing rapidly due to the large presence of self-diagnosed cases of lactose-intolerance among people in the region. Food intolerances are becoming a major concern for many consumers and this, in turn, is driving the growth of lactose-free food where the lactose has been removed from the products. Consumers are looking for lactose-free alternatives derived from plant sources, and with more number of dairy-free products multiplying on the shelves, consumers are able to meet their health and wellness goals. This, in turn, is leading to increased purchases of soy milk in many countries like the United Kingdom in the European region.
Increased Imports of Soybeans in the Region
The European Union imports large quantities of soybeans every year as a source of protein to feed animals, including chicken, pigs, and cattle, as well as for milk production. The imports of soybeans from the United States by the European Union increased by 112% from 2017 to 2018. Europe has remained the top destination for United States soybeans exports, followed by Argentina and Mexico. Such imports have led to the availability of soy milk in the region with manufacturers using soybeans to manufacture soy milk, thereby catering to the market demand for soy beverages.
Competitive Landscape
The Europe soy beverages market is consolidated, owing to the number of giant players dominating the market. Some of the key players in the market are Danone S.A., Kikkoman Corporation, Hain Celestial, and Eden Foods. Manufacturers are offering a variety of soy milk including flavored and plain soy milk in sweetened and unsweetened varieties to suit the varied tastes and preferences of consumers. Also, the increasing competition from other milk substitutes such as almond, hemp, and rice milk are leading to more players promoting the benefits of soy milk and focusing on developing newer flavors of soy milk.
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Europe soy beverages market is projected to register a CAGR of 5.3% during the forecast period (2019-2024).
- The increased prevalence of soy milk in retail outlets like supermarket/hypermarkets have enabled consumers to purchase the products with ease.
- Furthermore, the increasing awareness related to the health benefits of vegan drinks such as almond and soy milk among people in the region is further fuelling the growth of the market.
Scope of the Report
Europe soy beverage market is segmented by Product Type (Soy Milk, Soy-Based Drinkable Yogurt), by Flavor (Flavored and Plain/Unflavored), Distribution Channel (Supermarkets/Hypermarkets, Pharmacy, Online Retail Stores, Convenience Stores, and Others), and Geography.
Key Market Trends
Increasing Consumption of Lactose Free Products
The sales of lactose-free or plant milk products in Europe is increasing rapidly due to the large presence of self-diagnosed cases of lactose-intolerance among people in the region. Food intolerances are becoming a major concern for many consumers and this, in turn, is driving the growth of lactose-free food where the lactose has been removed from the products. Consumers are looking for lactose-free alternatives derived from plant sources, and with more number of dairy-free products multiplying on the shelves, consumers are able to meet their health and wellness goals. This, in turn, is leading to increased purchases of soy milk in many countries like the United Kingdom in the European region.
Increased Imports of Soybeans in the Region
The European Union imports large quantities of soybeans every year as a source of protein to feed animals, including chicken, pigs, and cattle, as well as for milk production. The imports of soybeans from the United States by the European Union increased by 112% from 2017 to 2018. Europe has remained the top destination for United States soybeans exports, followed by Argentina and Mexico. Such imports have led to the availability of soy milk in the region with manufacturers using soybeans to manufacture soy milk, thereby catering to the market demand for soy beverages.
Competitive Landscape
The Europe soy beverages market is consolidated, owing to the number of giant players dominating the market. Some of the key players in the market are Danone S.A., Kikkoman Corporation, Hain Celestial, and Eden Foods. Manufacturers are offering a variety of soy milk including flavored and plain soy milk in sweetened and unsweetened varieties to suit the varied tastes and preferences of consumers. Also, the increasing competition from other milk substitutes such as almond, hemp, and rice milk are leading to more players promoting the benefits of soy milk and focusing on developing newer flavors of soy milk.
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Danone S.A.
- Hain Celestial
- Eden Foods Vitasoy International
- Holdings Limited
- Sojade
- Naturally Good Food
Methodology
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