Japan Soy Beverages Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Japan Soy Beverages Market Analysis
Japan Soy Beverages Market is projected to grow at a CAGR of 4.5% during the forecast period (2020 - 2025).
- The increasing number of lactose-intolerant and health-conscious consumers have been the driving factors for the growth of the soy beverages. Since natural milk may trigger an allergic response in several people, people are shifting to soymilk.
- The mounting demand for low-fat and cholesterol-free milk by consumers is encouraging positive alterations in diet patterns. Soy offers a healthy and cruelty-free alternative source of protein.
- Rising consumer focus on the nutritional value offered by soy beverages, such as low calories and high protein and vitamins, is likely to have a positive impact on the industry.
Japan Soy Beverages Market Trends
This section covers the major market trends shaping the Japan Soy Beverages Market according to our research experts:
Increased Demand for Non-Dairy Alternatives
Consumers are increasingly looking for lactose-free dairy alternatives, derived from plant sources, and the choice of products multiplying on the shelves satisfies health and wellness-orientated consumers' taste for novelty and variety. There have been ongoing product innovations and launch activities in the market by the major players, for a range of increasingly sophisticated flavors and blends of non-dairy milks from different sources. Plant-based beverages provide vegetable protein or mixed proteins, which cater to the rising demand for a healthy lifestyle. It is observed that a soymilk plain beverage with higher viscosity, darker color, and higher protein content meets consumer expectations.
Supermarket/Hypermarket is the Most Preferred Channel
Supermarket/Hypermarket offers consumers more competitive prices compared with traditional stores, which are unable to compete with other retail channels on price. The increasing availability of dairy-free food and drink products at mainstream supermarkets has allowed established users to widen their choices and ranges, with easy availability they are potentially prompting more regular use of these products. Supermarkets or hypermarkets have proper refrigeration facilities to store the products for a longer time without any change in the properties. Soymilk is available in different flavors other than its original flavor and various fortifications, supermarkets/hypermarkets provide them enough shelf space to exhibit the products.
Japan Soy Beverages Industry Overview
Japan soy beverage market is fragmented and the dominating players in the market are Kikkoman Corporation, The Hain Celestial Group, Otsuka Pharmaceutical Co., Ltd. and MARUSAN-AI Co., Ltd. The key players are adopting strategies such as new product launches, expansion, partnerships and mergers, and acquisition to meet the growing demand from consumers.
Japan Soy Beverages Market Leaders
Kikkoman Corporation
Lam Soon Group
Otsuka Pharmaceutical Co., Ltd.
MARUSAN-AI Co., Ltd
The Hain Celestial Group
*Disclaimer: Major Players sorted in no particular order
Japan Soy Beverages Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions & Market Definition
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type
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5.1.1 Soy Milk
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5.1.2 Soy-Based Drinkable Yogurt
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5.2 By Flavor
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5.2.1 Plain Soy Beverage
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5.2.2 Flavored Soy Beverage
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5.3 By Distribution Channel
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5.3.1 Supermarket/Hypermarket
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5.3.2 Convenience Stores
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5.3.3 Online Retail Stores
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5.3.4 Others
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Strategies
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6.2 Market Position Analysis
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6.3 Company Profiles
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6.3.1 Kikkoman Corporation
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6.3.2 Lam Soon Group
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6.3.3 Vitasoy International Holdings Limited
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6.3.4 Otsuka Pharmaceutical Co., Ltd.
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6.3.5 MARUSAN-AI Co., Ltd
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6.3.6 The Hain Celestial Group
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6.3.7 Sapporo Holdings Limited
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Japan Soy Beverages Industry Segmentation
Japan soy beverages market can be segmented by type which is classified as soy milk and soy-based drinkable yogurt. The market is also divided based on flavor including plain soy beverages and flavored soy beverages. Based on the distribution channel, the soy beverages market is classified as supermarkets/hypermarkets, convenience stores, online retail stores and others.
| By Type | |
| Soy Milk | |
| Soy-Based Drinkable Yogurt |
| By Flavor | |
| Plain Soy Beverage | |
| Flavored Soy Beverage |
| By Distribution Channel | |
| Supermarket/Hypermarket | |
| Convenience Stores | |
| Online Retail Stores | |
| Others |
Japan Soy Beverages Market Research FAQs
What is the current Japan Soy Beverages Market size?
The Japan Soy Beverages Market is projected to register a CAGR of 4.5% during the forecast period (2024-2029)
Who are the key players in Japan Soy Beverages Market?
Kikkoman Corporation, Lam Soon Group, Otsuka Pharmaceutical Co., Ltd., MARUSAN-AI Co., Ltd and The Hain Celestial Group are the major companies operating in the Japan Soy Beverages Market.
What years does this Japan Soy Beverages Market cover?
The report covers the Japan Soy Beverages Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Japan Soy Beverages Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Japan Soy Beverages Industry Report
Statistics for the 2024 Japan Soy Beverages market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Japan Soy Beverages analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
