According to a recent report by Mordor Intelligence The China Soy Beverages Market size has been 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 percent 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 have been 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 has been particularly prominent in China, where soy-based products have gradually become a significant part of the diet.
In this market, international brands have a strong consumer base, with companies like The Hershey Company introducing new flavours 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 will likely continue driving the growth of soy-based products in the food and beverage industry.
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