Europe Soybean Beverages Market

Europe Soy Beverages Market Analysis

The Europe Soy Beverages Market is expected to register a CAGR of 5.3% during the forecast period.

• The increasedprevalence of soy milk in retail outlets like supermarket/hypermarkets have enabledconsumers to purchase the products with ease.
• Furthermore, the increasing awareness related to the health benefits of vegan drinks such as almond and soymilk among people in the region is further fuelling the growth of the market.

Europe Soy Beverages Market Trends

Increasing Consumption of Lactose Free Products

The sales of lactose-free or plant milk products in Europe is increasing rapidly due to the large presence of self-diagnosed cases of lactose-intolerance among people in the region. Food intolerances are becoming a major concern for many consumers and this, in turn, is driving the growth of lactose-free food where the lactose has been removed from the products. Consumers are looking for lactose-free alternatives derived from plant sources, and with more number of dairy-free products multiplying on the shelves, consumers are able to meet their health and wellness goals. This, in turn, is leading to increased purchases of soy milk in many countries like the United Kingdom in the European region.

Increased Imports of Soybeans in the Region

The European Union imports large quantities of soybeans every year as a source of protein to feed animals, including chicken, pigs, and cattle, as well as for milk production. The imports of soybeans from the United States by the European Union increased by 112% from 2017 to 2018. Europe has remained the top destination for United States soybeans exports, followed by Argentina and Mexico. Such imports have led to the availability of soy milk in the region with manufacturers using soybeans to manufacture soy milk, thereby catering to the market demand for soy beverages.

Europe Soy Beverages Industry Overview

The Europe soy beverages market is consolidated, owing to the number of giant players dominating the market. Some of the key players in the market are Danone S.A., Kikkoman Corporation, Hain Celestial, and Eden Foods. Manufacturers are offering a variety of soy milk including flavored and plain soy milk in sweetened and unsweetened varieties to suit the varied tastes and preferences of consumers. Also, the increasing competition from other milk substitutes such as almond, hemp, and rice milk are leading to more players promoting the benefits of soy milk and focusing on developing newer flavors of soy milk.

Europe Soy Beverages Market Leaders