Evolve Business Intelligence has published a research report on the Global Grains, Soymilk, and Cocoa Drinks Market, 2023–2033. The global Grains, Soymilk, and Cocoa Drinks market is projected to exhibit a CAGR of around 11.02% during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Grains, Soymilk, and Cocoa Drinks Market: Nestlé S.A., The Coca-Cola Company, Danone S.A., The Hain Celestial Group Inc, PepsiCo, Inc, Oatly AB, Silk (Danone North America), Pacific Foods (Campbell Soup Company), Ripple Foods, Califia Farms.
Market Highlights
The Global Grains, Soymilk, and Cocoa Drinks market is projected to be valued at USD 73.18 Billion by 2033, recording a CAGR of around 11.02% during the forecast period. Grains are edible seeds of plants from the grass family, providing essential nutrients and serving as a staple food worldwide. They encompass diverse types like wheat, rice, corn, barley, oats, and rye, offering carbohydrates, fiber, vitamins, and minerals. Soymilk, a plant-based milk alternative, is made by soaking, grinding, and boiling soybeans, presenting a nutritious and lactose-free option. It is rich in protein, calcium, and other nutrients. Cocoa drinks refer to beverages made from cocoa powder or chocolate, typically mixed with milk or water. They offer a chocolaty flavor and can be enjoyed hot or cold, often containing added sugar or flavors.
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The COVID-19 pandemic has had a profound impact on the Grains, Soymilk, and Cocoa Drinks market, reshaping consumer preferences and altering the dynamics of supply and demand. With lockdowns and social distancing measures in place, people turned to pantry staples like grains for their long shelf life and versatility, leading to increased consumption and demand. Additionally, the pandemic prompted a rise in health consciousness, driving the popularity of plant-based alternatives like soymilk as individuals sought nutritious and lactose-free options. On the other hand, the cocoa drinks market faced challenges as the closure of cafes, reduced social gatherings, and economic uncertainties resulted in a decline in out-of-home consumption. However, the market also witnessed a surge in at-home consumption, with consumers indulging in comfort beverages like hot cocoa as a source of comfort and relaxation. Overall, the COVID-19 pandemic brought significant shifts to the Grains, Soymilk, and Cocoa Drinks market, with changing consumer behaviors and the need for adaptability among businesses to navigate the evolving landscape.
Segmental Analysis
The global Grains, Soymilk, and Cocoa Drinks market has been segmented based on Product, and Distribution Channels.
Based on Product, the Grains, Soymilk, and Cocoa Drinks market is segmented into Grains drinks, Soymilk drinks, and Cocoa drinks. The Soymilk drinks segment is expected to have a larger market share throughout the forecast period.
Based on Distribution Channel, the global Grains, Soymilk, and Cocoa Drinks market has been divided into Retail stores, E-commerce, and Direct sales. The Retail stores’ segment is anticipated to dominate the market.
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Regional Analysis
The Grains, Soymilk, and Cocoa Drinks market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, & Africa. North America, being a mature market, has a high demand for grains, soymilk, and cocoa drinks, driven by health-conscious consumers and the popularity of plant-based alternatives. Europe also showcases a strong market, with a growing trend towards organic and sustainable products. The Asia-Pacific region, with its large population and rising disposable incomes, presents significant opportunities for market growth, particularly in countries like China, India, and Japan. South America has a rich cocoa heritage and is known for its high-quality cocoa products, while the Middle East & Africa region has a growing market for grains and soymilk, driven by the increasing awareness of health benefits.