Soy Milk Market Outlook: Competitor, Regional Revenue, and Forecast 2030
Soy Milk Market Overview
The global Soy Milk Market is projected
to reach $ 16.17 billion by 2030. The market will register a CAGR of 6.66 %
during the forecasted period between 2022 and 2030.
Soy Milk is commonly known as soya milk. It
is a plant-based drink that is generated by soaking and grinding soybeans,
boiling the contents and filtering the residue. It is regarded to be a popular
alternative to cow’s milk. It is a vital source of dietary fiber and protein
for individuals who are allergic to dietary products or do not prefer to
consume animal-based food. Manufacturers integrate additional vitamins and
minerals into soy milk so users can derive maximum health benefits from it. Soy
milk’s rising popularity is because it contains fewer calories and rich protein
than cow’s milk.
During the anticipated period, the
worldwide soy
milk market trends will exhibit solid performance due to rising health
issues such as obesity and rich nutritional content. When compared to other
options such as cashew or almond milk, the low price of soy milk is also
anticipated to influence the market's future growth trajectory.
Key Players are.
Following are some of the soy milk key
market players
·
EDEN FOODS INC (US)
·
ORGANIC VALLEY (US)
·
PUREHARVEST (AUSTRALIA)
·
AMERICAN SOY PRODUCTS (US)
·
VITASOY INTERNATIONAL HOLDINGS
(CHINA)
·
SUNOPTA INC (CANADA)
·
PACIFIC NATURAL FOODS (US)
·
PANOS BRANDS (US)
·
SANITARIUM (AUSTRALIA)
·
HAIN CELESTIAL GROUP INC (US)
Market Segments
The global soy milk market can be segmented
based on application, type, category and distribution channel.
Based on the application of soy milk, the
market can be further broken down into cheese, desserts, beverages and snacks.
The dessert segment is growing rapidly, and during the forecasted period, it
will play a key role in influencing market performance. The high consumption of
non-dairy milkshakes and ice cream will play an instrumental role in its high
growth. Based on type, the Soy Milk Market can be fragmented into plain and
flavored. Based on category, the market can be divided into conventional and
organic. Similarly, based on distribution channels, the market is divided into
store-based and non-store-based. The store-based segment encompasses
hypermarkets and supermarkets, convenience stores, and others.
Regional Analysis
The global soy
milk market report can be segmented into North America, the Middle East and
Africa, Asia Pacific, Europe, and Latin America. In these regions, the soy milk
market has a strong presence.
During the forecasted period, the European
segment will dominate due to the high prevalence of lactose intolerance among
customers. Additionally, the increased awareness of the diverse side-effects of
dairy products like cow’s milk, eggs, and meat will encourage health-conscious
customers to shift towards a vegan lifestyle. Germany will play an instrumental
role in accelerating future market growth in Europe. The Asia Pacific region
will also contribute significantly to the performance of the global Soy Milk
Market. The high milk consumption for its protein content will drive the demand
for soy milk in the region.
Industry News
February 2022 – PANOS BRANDS, a U.S.-based player in the global Soy Milk Market,
announced that it is working on new product formulations to expand the
portfolio of its specialty food brands. The company has taken the initiative to
integrate additional nutritional content and remove preservatives, artificial
flavors and sucralose.
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