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 Europe soy milk market is a mature market, characterized by a high level of consumption and a wide range of product offerings. The market has been driven by factors such as the increasing consumer preference for plant-based dairy alternatives, the rise in lactose intolerance and milk allergy cases, and the growing awareness of the environmental impact of dairy production. Europe is one of the largest markets for soy milk globally, with countries such as Germany, France, and the United Kingdom being major producers and consumers of soy milk.

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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