How Big is the Soy Milk Market?
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. The market is driven by the growing health consciousness among people a rise in the population of vegans lactose intolerants across the world. This, in turn, propelled the demand for alternatives to animal-based regular milk, further shifting towards nutrient-rich soy milk.
Market Statistics
- Market Size in 2022: USD 10.5 billion
- Market Growth Rate (CAGR): 7% from 2024-2030
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Soy Milk Market Insight:
Driver-
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.
Soy Milk Market Segmentation:
The report has segmented the market into the following categories:
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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Competitive Landscape:
- 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.
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
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Key Highlights of the Report:
- Market Performance (2024-2030)
- Strategic Recommendations
- Current, Historical and Future Market Trends
- Market Drivers and Leading Competitor
- SWOT Analysis
- Structure of the Market
- Comprehensive Mapping and Recent Advancement
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