India Soy Beverages Market Size, Growth, Trends, Forecast (2024-2032)

According to a new report by Univdatos, the India Soy Beverages Market is expected to reach ~USD Million in 2032 by growing at a CAGR of ~8%.

Key Highlights of the Report:

Ø Rising Health Consciousness & Lactose Intolerance: There is an increasing trend of consumers shifting towards healthier products, and the trend of more soy beverages is on the rise.

Ø New Distribution Channels: Some supermarket chains around the world are stocking soy beverages more as they expand their market reach, while some online platforms also offer opportunities to increase the availability of soy beverages.

Ø Innovations and Product Diversification: The new trend for soy beverages such as flavored, fortified, or blended soy products has opened doors for reaching out to a much larger population.

Ø Related to sustainability and government support, more production and significant state encouragement encourage plant-based nutrition.

Ø Newer Trends in RTD & Premium segments – RTD soy beverages and Organic RTD versions are the unique flavors that are gradually becoming popular among the urban population.

The increasing health consciousness, the increase in the incidences of lactose intolerance, and the rising trend in veganism are driving the requirement for soy beverages in India. The factors that help the growth of the sector are the development of the retailing infrastructure and the increasing accessibility of Internet grocery stores. To the same effect, public awareness created through government campaigns for plant-based diets and food safety policies and legislation adds to the growth of the market.

In February 2021, Mumbai based Life Health Foods (India) Pvt. Ltd., a pioneer in the health beverage segment, launched its new brand So Good protein+, dairy-free plant-based milk. The new delicious So Good Protein+ Soy beverage delivers what the brand promises – a healthy and nutritious drink.

KEY GROWTH DRIVERS:

Increasing Soybean Production

Growth of the soy beverages market is benefiting from the rising production of soybeans in India as it provides the raw materials required for production at an affordable price. With many states such as Madhya Pradesh, Maharashtra, and Rajasthan covering large areas for the production of soybeans, local availability has been enhanced. Subsidies continue to be offered by the Government, and improved seeds as well as enhanced technologies are helping to increase yields. With the assistance of an increase in production, the manufacturers can offer competitive prices and also decrease reliance on imports. Therefore, deployment flexibly and the introduction of more and new soy-based beverage products for people’s consumption can be carried out efficiently.

Access sample report (including graphs, charts, and figures)- https://univdatos.com/reports/india-soy-beverages-market?popup=report-enquiry

Table #: India Soybean Production In Million Metric Tons, By Year, As per the Soybean Processors Association of India (SOPA)

India Soy Beverages Market Region

West India is expected to grow with a significant CAGR during the forecast period. Soy beverages are consumed via retail stores and local production lines in West India and principally through Maharashtra and Gujarat’s help. It has a good beverage industry, where firms can easily optimize production because of the advancement in the sector. The modern lifestyle and changes in eating habits are the factors that are steadily fueling demands among the consumer groups of Mumbai and Pune. There is a focus on using modern trade channels, supermarkets, and online channels to build distribution. In the same regard, more brands that are conscious of sustainability are practicing environmentally friendly packaging to appeal to those shoppers who consider the environment.

Key Offerings of the Report

Market Size, Trends, & Forecast by Revenue | 2024−2032F.

Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities

Market Segmentation – A detailed analysis by product type; flavor; distribution channel; and region

Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Website - www.univdatos.com