Japan Soy Beverages Market Insights Forecasts to 2032

• The Market Size is Growing at a CAGR of 4.2% from 2022 to 2032.
• The Japan Soy Beverages Market Size is Expected to hold a Substantial Share by 2032.

The Japan Soy Beverages Market Size is Expected to hold a Significant Share by 2032, at a CAGR of 4.2% during the forecast period 2022 to 2032. 

Market Overview

Soy beverages are plant-based drinks that can be substituted for cow's milk. To make the beverages, soak and grind the soybeans before boiling the mixture and separating the liquid from the solid pulp. The beverages are high in protein and contain the necessary amino acids for the body. The beverages also contain vitamins and minerals, such as vitamin D and calcium, which provide additional nutrients. People who have lactose intolerance, are allergic to cow's milk or are vegetarians or vegans prefer soy beverages. In addition to the vitamins, minerals, and antioxidants found in plants, plant-based foods support the immune system, reduce inflammation, and aid in weight maintenance. Furthermore, plant-based foods aid in the prevention of chronic diseases such as cancer, cardiovascular disease, obesity, and diabetes.

Report Coverage

This research report categorizes the market for the Japan soy beverages market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japanese soy beverages market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Japanese soy beverages market.

Driving Factors

Food nutrition is becoming increasingly important to consumers, which is expected to drive market growth and development. The growing number of lactose-intolerant and health-conscious customers is driving market growth. Increasing the use of soy beverages as a dietary supplement can also open up new opportunities for the Japanese soy beverage market.

Restraining Factors

The presence of alternative dairy-free beverages such as almond milk may pose market challenges and genetic modification of soy crops, which affects a large number of people, may hamper market growth.

Market Segment

• In 2022, the soy milk segment accounted for the largest revenue share over the forecast period.

Based on the product types, the Japan soy beverages market is segmented into soy milk and soy-based drinkable yogurt. Among these, the soy milk segment has the largest revenue share over the forecast period. Animal milk substitute beverages have been adopted by soy milk. Furthermore, because it is cholesterol-free and contains less saturated fat than cow's milk, soy milk is becoming more popular. Furthermore, the widespread availability of soy milk in a variety of flavors, such as chocolate and vanilla, is expected to boost the soy milk market in Japan in the coming years.

• In 2022, the flavored soy beverages segment accounted for the largest revenue share over the forecast period.

Based on flavors, the Japan soy beverages market is segmented into plain soy beverages and flavored soy beverages. Among these, the flavored soy beverages segment accounted for the largest revenue share over the forecast period. Flavored soy beverages are expected to grow rapidly due to their popularity among millennials and other younger generations. Vanilla, fruit flavors, chocolate flavors, and other flavors are popular among children and the younger generation. Furthermore, the addition of flavors successfully masks the original soy taste, which is otherwise unacceptably off-putting to a wide range of consumers. 

• In 2022, the supermarkets/hypermarkets segment accounted for the largest revenue share over the forecast period.

Based on the distribution channel, the Japan soy beverages market is segmented into supermarkets/hypermarkets, convenience stores, online retail stores, and others. Among these, the supermarkets/hypermarkets segment has the largest revenue share over the forecast period. Supermarkets and hypermarkets provide consumers with more competitive prices than traditional stores, which are unable to compete on price with other retail channels. The growing availability of dairy-free food and drink products in mainstream supermarkets has allowed established users to broaden their options and ranges, potentially prompting more frequent use of these products. Supermarkets and hypermarkets have proper refrigeration facilities to store products for an extended period without affecting their properties. Soymilk is available in a variety of flavors in addition to its original flavor and various fortifications, and supermarkets/hypermarkets provide enough shelf space to display the products.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Japan soy beverages market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Kikkoman Corporation
• Lam Soon Group
• Vitasoy International Holdings Limited
• Otsuka Pharmaceutical Co., Ltd.
• MARUSAN-AI Co., Ltd
• The Hain Celestial Group
• Sapporo Holdings Limited

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at regional, and country levels from 2021 to 2032. Spherical Insights has segmented the Japan Soy Beverages Market based on the below-mentioned segments:

Japan Soy Beverages Market, By Product Type

• Soy Milk
• Soy-based
• Drinkable Yogurt

Japan Soy Beverages Market, By flavors

• Plain Soy Beverages
• Flavored Soy Beverages

Japan Soy Beverages Market, By Distribution Channels

• Supermarkets/Hypermarkets
• Convenience Stores
• Online Retail Stores
• Others