According to Markntel Advisors Report, Soy Milk Market is expected to grow at a significant growth rate, and the analysis period is 2024-2030, considering the base year as 2023. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

Soy milk is grain milk obtained by soaking dry soy in water & grinding them together. This type of milk is gaining swift popularity among vegans & is known popularly as a stable emulsion of protein, oil, & water. It comes in an expansive variety ranging tastes like vanilla, strawberry, & chocolates, among others. These products are fortified with additional calcium & vitamins. When compared to regular cow milk, soy milk contains a higher nutrient content such as proteins, carbs, calcium & low calories, and zero lactose.

Global Soy Milk Market Research Report & Summary:

The Global Soy Milk Market is valued at around USD 10.5 billion in 2022 & is projected to grow at a CAGR of around 7% during the forecast period, i.e., 2024-30.      

Time Period Captured in the Report:

·         Historical Years: 2019-22

·         Base Years: 2023

·         Forecast Years: 2024-2030

Who are the Key Players Operating in the Soy Milk Market?

The top companies of the Soy Milk Market ruling the industry are: 

Alpro, American Soy Products, Campbell Soup Company, Danone S.A., Eden Foods, Hain Celestial Group, Inc., Kikkoman Corporation, Organic Valley, Pureharvest, Pacific Natural Foods, Panos Brands, SunOpta, Sanitarium, The Hershey Company, Vitasoy International Holdings, WhiteWave Foods, Others.)

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Soy Milk Industry Recent Development:

·         2024: Nestle invested around USD4.3 million for the launch of the ‘Milo Soy’. The drink includes high-protein soy & malt extract which has strong health benefits & is easy to comsume

What is Included in Soy Milk Market Segmentation?

The Soy Milk Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic.  The further bifurcations are as follows:

-By Type

-Flavored

-Unflavored

-By Application

-Food & Beverages

-(Bakery & Confectionery, Beverages, Desserts)

-Dietary Supplements

-By Distribution Channel

-Offline

-Supermarkets/Hypermarkets

-Convenience Stores

-Specialty Bakery/Stores

-Online

-By Region

-North America

-South America

-Europe

-Middle East & Africa

-Asia-Pacific

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Market Dynamics -Global Soy Milk Market:

Rising Lactose Intolerance & Dairy Allergies to Augment the Product Demand – Lactose intolerance includes the inability to digest lactose, a sugar found in milk & dairy products, due to a deficiency of the enzyme lactase, whereas dairy allergies involve an immune response to proteins found in cow's milk. The prevalence of lactose intolerance & dairy allergies among individuals has led consumers to seek non-dairy alternatives like soy milk to meet their nutritional needs without adverse reactions, which is one of the crucial aspects driving the market growth.

Soy milk, being dairy-free & lactose-free, provides a suitable solution for individuals with these conditions. Thus, consumers are increasingly becoming conscious of their dietary choices & are actively seeking healthier options. Soy milk, as a plant-based alternative, is perceived as a nutritious alternative with lower saturated fat content than cow's milk.

In addition, it is naturally free of the proteins that are found in cow's milk which is responsible for triggering allergic reactions in some individuals. Thus, owing to its lactose-free & anti-dairy allergic characteristics, it is presumed that the Global Soy Milk Market share would upscale at a fast pace in the coming years.

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