Asia-Pacific Soy Milk Market Outlook by Application of Top Companies, 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.
The Asia-Pacific soy milk market is one of the fastest-growing markets globally, driven by factors such as the increasing consumer awareness of the health benefits of soy milk, the rise in lactose intolerance cases, and the growing demand for plant-based dairy alternatives. The region is one of the largest markets for soy milk, with countries such as China, Japan, India, and South Korea being major contributors to market growth.
During the forecasted period, the global soy
milk market will show solid performance owing to a high preference for soy milk
due to rising health concerns like obesity and rich nutritional content.
Compared to other options like cashew or almond milk, the affordable price of
soy milk is also likely to influence the market’s growth trajectory in the
future.
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.
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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