South America Soy Beverages Market is segmented By Product Type (Soy Milk, Yogurt Smoothies), By Distribution Channel (Supermarket/hypermarket, Specialty Stores, Convenience Stores, Online Stores, and Others), and By Region (Brazil, Argentina, Colombia) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
The South America Soy Beverages Market is expected to grow at a CAGR during the forecasting period (2022-2029).
- The South America soy beverages market is driven by various factors such as increased purchasing power, shift towards healthy drinks and growing millennials & generation z demographic.
- A significant portion of the population in the South American region can afford drinks which can pave the way for soy beverages that are healthier than regular juices and other forms of edible liquids. Although, high cost and limited production due to low investment are some of the factors restraining the market. Also, limited knowledge regarding its benefits is affecting the demand in the region.
- Soybean is an excellent source of protein and hence consumed heavily in South America. It also provides various nutrients such as fiber, omega acids, and vitamins which are essential for well-being and growth of humans.
- A soy-based drink is a healthy alternative to meat and hence can be an excellent source of nutrition for the vegetarian population.
Increasing Expenditure on beverages
- The growing impetus towards healthy drinks, high family incomes, and fast-paced lifestyle are driving the growth for soy beverages to demand in South America. Growing middle-class population and urbanization are the key factors powering healthy foods. Increasing investments and increasing demand for healthy foods in workplaces are impacting the market in developing economies.
Limited supply and high cost
- Despite, health benefits a significant portion of the local populace is reluctant to purchase processed soy products due to the high price which is a substantial restraint for this product. High demand is observed in upper middle class and HNI population although demand from the middle class is still growing slowly.
- High consumption of alcoholic beverages is also impacting the demand due to low incomes of the middle class who can afford a limited supply of food and drinks monthly. A significant portion of the population prefers alcoholic drinks over healthy non-alcoholic drinks which are restraining the demand in the South American region.
- The South America soy beverages market is segmented based on a type of products such as soy milk and yogurt smoothies. Based on distribution channels, the market is segmented into Convenience Stores, Supermarkets/ Hypermarkets, Online Stores, Speciality Stores, and Others.
Geographically, the market is segmented into Brazil, Argentina, Colombia, and others
- South America Soy beverages Market:
- The soy beverages market in Brazil is one of the largest in the region. Brazil represented a market value of approximately xx billion USD in 2015 and expected to increase by xx billion USD by the end of 2020.
By product type, soy milk is the largest segment accounting for xx% of the market by 2016.
- The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
- The report profiles the following companies, which includes Danone, Organic Valley, Kikkoman Pearl Soy Milk, The Hain Celestial Group, Eden Foods, ZenSoy, Trader Joes, Jaffe Bros. Natural Foods and Devansoy.
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