India Soy Beverages Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

India Soy Beverages Market is segmented by Product Type (Soy Milk, Soy-Based Drinkable Yogurt), by Flavor ( Flavored and Plain/Unflavored), and by Distribution Channel (Supermarkets/Hypermarkets, Pharmacy, Retail Stores, Convenience Stores, and Other Channels).

Market Snapshot

India Soy Beverages Market Summary
Study Period: 2016 - 2026
Base Year: 2020
CAGR: 3.8 %

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Market Overview

India Soy Beverages Market is projected to record a CAGR of 3.8% during the forecast period (2020-2025).

  • The market is primarily driven by the increasing number of consumers seeking non-dairy beverage alternatives have led to substantial growth in the demand for soy milk beverages market. In addition, new food production technology and new varieties of soybeans result in new flavors creates competition with cow’s milk and dairy products.
  • Furthermore, the various health benefits of soy milk such as less cholesterol, heart disease reduction and the increasing number of health-conscious consumers are also few of the factors driving the market.

Scope of the report

The India soy beverages market is segmented by product type and distribution channel. By product type, the market is segmented into soy milk, soy-based drinkable yogurt; by flavor into flavored and plain/unflavored; and by distribution channel into supermarkets/hypermarkets, pharmacy, retail stores, convenience stores, and other channels.

Product Type
Soy Milk
Soy-Based Drinkable Yogurt
Plain Soy Beverages
Flavored Soy Beverages
Distribution Channel
Pharmacies/Drug Stores
Convenience Stores
Online Retail Stores
Other Channels

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Key Market Trends

Rising Production Volume of Soybeans across India

Soybean has experienced rapid development in terms of area and production expansion within a limited period in recent years, coupled with rapid selectivity in the development of the crop. In addition, increased production sustained by area increases has been facilitated by incentives provided by government policy in the form of subsidized inputs, price support for output, marketing infrastructure for the operation of effective price support policy, and the relative profitability of soybean as compared to its competing crops, which has contributed in further boosting the growth of the market.

India Soy Beverages Market1

Supermarkets/Hypermarkets To Drive The Sale For Soy Beverages In The Country

India has seen an increased penetration of organized retail stores such as supermarkets and hypermarket. The advantage of a hypermarket or a supermarket over other stores is that these markets provide everything a consumer needs at one stop. Supermarkets/Hypermarkets account for the greatest share, with 47% of soy beverages sales. Soymilks are mainly stored in refrigerated cases and are also available in aseptic packages. Supermarkets/hypermarkets have proper refrigeration facilities to store the products for a longer time without any change in the properties. Furthermore, these supermarket/hypermarket chains search for new ways to increase sales through their channels. Discount offers, lending new attractive look to the products and making brochures are some of the techniques being adopted to increase sales.

India Soy Beverages Market2

Competitive Landscape

The India Soy Beverages Market is consolidated, owing to the presence of a fewer number of regional and domestic players from different countries. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Key players dominating the regional market include The Hershey Company, Life Health Foods India Private Limited, and Chetran Foods Private Limited. Other players in the Indian market include Pacific Foods Of Oregon LLC, The Hain Celestial Group, Inc., SoyLife, Neon India, and Invigorate Foods Pvt. Ltd. among others.

Table of Contents


    1. 1.1 Study Assumptions & Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 Product Type

      1. 5.1.1 Soy Milk

      2. 5.1.2 Soy-Based Drinkable Yogurt

    2. 5.2 Flavor

      1. 5.2.1 Plain Soy Beverages

      2. 5.2.2 Flavored Soy Beverages

    3. 5.3 Distribution Channel

      1. 5.3.1 Supermarkets/Hypermarkets

      2. 5.3.2 Pharmacies/Drug Stores

      3. 5.3.3 Convenience Stores

      4. 5.3.4 Online Retail Stores

      5. 5.3.5 Other Channels


    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 The Hershey Company

      2. 6.3.2 Life Health Foods India Private Limited

      3. 6.3.3 Chetran Foods Private Limited

      4. 6.3.4 Pacific Foods Of Oregon, Llc.

      5. 6.3.5 The Hain Celestial Group, Inc.

      6. 6.3.6 SoyLife

      7. 6.3.7 Neon India

      8. 6.3.8 Invigorate Foods Pvt. Ltd.

      9. 6.3.9 Soyaam Food

      10. 6.3.10 Midas Soy Nutritions

    4. *List Not Exhaustive

**Subject to Availability

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Frequently Asked Questions

The India Soy Beverages Market market is studied from 2016 - 2026.

The India Soy Beverages Market is growing at a CAGR of 3.8% over the next 5 years.

The Hershey Company, Life Health Foods India Private Limited, Chetran Foods Private Limited, Pacific Foods Of Oregon, Llc. , The Hain Celestial Group, Inc. are the major companies operating in India Soy Beverages Market .

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