Brazil Soy Beverages Market - Growth, Trends, and Forecasts (2020-2025)

Brazil Soy Beverages Market is projected to grow at a CAGR of 4.23% during the forecast period 2020-2025.

• Growing vegan population and an increasing number of people with lactose intolerance are the key factors driving the demand for soy milk as milk alternatives. Private label brands have played a pivotal role in the product development of the product, facilitated by the globally evolving retail landscape.
• Moreover, there has been an increasing demand for plant protein nutrients among consumers. The growing awareness about the health benefits has led to the increasing growth of the market studied.

Key Market Trends

Growing Demand for Plant based Products

The growing awareness about the vegan lifestyle and animal product allergies are driving the plant-based products to demand in the country. Considering that most plant proteins are used in the form of nutritional and dietary supplements, such high levels of obesity are bound to create favorable opportunities for the soy protein market in Brazil. Moreover, in the South American region, Brazil contributes the largest share in the regional plant protein market. Furthermore, the high rate of production and popularity of wheat and soybean in the region aids the popularity of soy-based dairy alternatives.

Supermarkets/ Hypermarkets Remained the Largest Point of Sale

Supermarkets/hypermarkets have large consumer bases across the region. A common perception among consumers to fresh products through calculative decisions leads their way to these stores. As a result of which, supermarkets/ hypermarkets account for major sales of soy beverages across the region. Consumers prefer purchasing grocery products through supermarkets more, as it offers several products and brands to choose from, which saves time, energy, and money owing to several promotional discounts.

Competitive Landscape

Brazil soy beverages market is competitive owing to the presence of few dominating players in the country primarily including The Hain Celestial Group and Danone S.A. However, the pre-dominance of private label brands portrays substantial competition to these players. Key players are focusing on acquisitions and mergers, in order to expand their geographical reach and increase their customer base.

Reasons to Purchase this report:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

This product will be delivered within 2 business days.