Market Size of China Soy Beverages Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.70 Billion |
| Market Size (2029) | USD 2.19 Billion |
| CAGR (2024 - 2029) | 5.07 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Soy Beverages Market Analysis
The China Soy Beverages Market size is estimated at USD 1.7 billion in 2024, and is expected to reach USD 2.19 billion by 2029, growing at a CAGR of 5.07% during the forecast period (2024-2029).
- The increased availability of soy beverages and the scientifically proven health benefits associated with soy consumption, such as reducing blood cholesterol and lowering the risk of certain cancers, can be attributed to the higher consumption of soy-based products. These products are becoming increasingly popular among people interested in adopting plant-based diets and are a thriving segment of the food and beverage industry.
- Soy-based products are considered to be rich in nutritional content, including carbohydrates, protein, and omega-3 fatty acids, and contain no cholesterol, making them an attractive option for health-conscious consumers. This trend is particularly prominent in China, where soy-based products are gradually becoming a significant part of the diet.
- In this market, international brands have a strong consumer base, with companies like The Hershey Company introducing new flavors like "Coffee Mocha" to its portfolio of "Sofit" beverages, which are soy milk drinks. These products cater to a larger audience while providing health benefits to the consumers. The Hershey Company's soy beverage products are available at various online and offline stores in China.
- Moreover, private-label brands in the region have also contributed to the growth of soy products, driven by the changing retail environment. The market is expected to expand further in the projected period due to rising demand and the establishment of numerous medium-sized businesses in the area.
- However, one of the market restraints is the high production cost of dairy substitutes/alternatives. Nonetheless, the growing trend of adopting plant-based diets and the increasing awareness of the health benefits associated with soy consumption is likely to continue driving the growth of soy-based products in the food and beverage industry.
