Japan Soy Beverages Market - Growth, Trends and Forecasts (2020 - 2025)

Japan Soy Beverages Market is projected to grow at a CAGR of 4.5% during the forecast period (2020 - 2025).

• The increasing number of lactose-intolerant and health-conscious consumers have been the driving factors for the growth of the soy beverages. Since natural milk may trigger an allergic response in several people, people are shifting to soymilk.
• The mounting demand for low-fat and cholesterol-free milk by consumers is encouraging positive alterations in diet patterns. Soy offers a healthy and cruelty-free alternative source of protein.​
• Rising consumer focus on the nutritional value offered by soy beverages, such as low calories and high protein and vitamins, is likely to have a positive impact on the industry.

Key Market Trends

Increased Demand for Non-Dairy Alternatives

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. There have been ongoing product innovations and launch activities in the market by the major players, for a range of increasingly sophisticated flavors and blends of non-dairy milks from different sources. Plant-based beverages provide vegetable protein or mixed proteins, which cater to the rising demand for a healthy lifestyle. It is observed that a soymilk plain beverage with higher viscosity, darker color, and higher protein content meets consumer expectations.​

Supermarket/Hypermarket is the Most Preferred Channel

Supermarket/Hypermarket offers consumers more competitive prices compared with traditional stores, which are unable to compete with other retail channels on price. The increasing availability of dairy-free food and drink products at mainstream supermarkets has allowed established users to widen their choices and ranges, with easy availability they are potentially prompting more regular use of these products.​ 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.

Competitive Landscape

Japan soy beverage market is fragmented and the dominating players in the market are Kikkoman Corporation, The Hain Celestial Group, Otsuka Pharmaceutical Co., Ltd. and MARUSAN-AI Co., Ltd. The key players are adopting strategies such as new product launches, expansion, partnerships and mergers, and acquisition to meet the growing demand from consumers.

Reasons to Purchase this report:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

This product will be delivered within 2 business days.