spot_img

Soy Milk Market Size Worth $23.2 Billion By 2025 | CAGR: 6.1%: Grand View Research, Inc.

 

The global soy milk market size is expected to reach USD 23.2 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.1% over the forecast period. The market is expected to witness significant growth owing to increasing awareness about the health benefits of soy foods and beverages. Availability of a variety of soy milk fortified with nutrients and flavors has helped the product gain popularity in children and adults alike.

Key suggestions from the report:

  • In terms of revenue, the desserts application segment is projected to expand at a CAGR of 6.6% over the forecast period owing to rapid increase in the overall desserts and non-dairy dessert alternatives. Beverages dominated the market with an overall share of 42.2% in 2018
  • Asia Pacific dominated the market in 2018 and accounted for a share of 37.1%. This trend is projected to resume over the next few years owing to increasing population and awareness about the benefits of soy-based food and beverages
  • The market for dessert is expected to witness significant growth in various countries including U.S., U.K., GermanyIndia, and Japanowing to increasing consumption of non-dairy foods and beverages
  • The industry is highly competitive in nature due to presence of the main players including Eden Foods; Organic Valley; Pureharvest; WhiteWave Foods; SunOpta Inc.; and Vitasoy
  • Various manufacturers are concentrating on introducing new flavors of soy milk in the market to increase product offering.

Read 100 page research report with TOC on “Soy Milk Market Size, Share & Trends Analysis Report By Product Type (Flavored, Unflavored), By Application (Desserts, Cheese & Snacks, Beverages), By Region, And Segment Forecasts, 2019 – 2025” at: 

https://www.grandviewresearch.com/industry-analysis/soy-milk-market

The beverages application segment held a major share of the overall revenue owing to growing consumption of soy milk as an alternative to cow milk for daily consumption or in preparation of tea and coffee. Moreover, new varieties of flavored soy milk is expected to drive the demand for beverages over the forecast period. However, the desserts segment is expected to grow significantly with a CAGR of 6.6%. Increasing consumption of non-dairy dessert food is expected to increase the consumption of the product in desserts.

The unflavored product segment accounted for a significant share in the market. It is used in the preparation of a variety of snacks and dishes. The original product has a peculiar nutty taste, which most consumers do not like. Hence, many flavors are introduced in the market to increase consumption of the product. Vanilla and chocolate are the popular flavors among others, which is expected to fuel the product demand.

Asia Pacific was the largest consumer of the product in 2018 due to large scale production of soy bean in major countries like ChinaIndiaJapan, and Hong Kong. China was the major consumer in the entire world in 2018. North America is anticipated to witness substantial growth in light of increasing awareness of soy benefits and consumption of non-dairy alternatives. In Europe, many German manufacturers are engaged in utilizing the health benefits of the product to make various dairy products like cheese and butter. This is expected to drive the market owing to product offerings based on soy milk.

Grand View Research has segmented the global soy milk market on the basis of product type, application, and region:

  • Soy Milk Product Type Outlook (Revenue, USD Billion, 2015 – 2025)
    • Unflavored
    • Flavored
  • Soy Milk Application Outlook (Revenue, USD Billion, 2015 – 2025)
    • Desserts
    • Cheese & Snacks
    • Beverages
  • Soy Milk Regional Outlook (Revenue, USD Billion, 2015 – 2025)
    • North America
      • U.S.
    • Europe
      • Germany
      • U.K.
    • Asia Pacific
      • China
      • India
    • Central & South America
      • Brazil
    • MEA

Find more research reports on Consumer Goods Industry, by Grand View Research:

  • Lactose-Free Infant Formula Market – The lactose-free infant formula market growth is attributed to growing population of lactose intolerant newborns, coupled with increasing number of working women at the global level. It has been observed that newborns with inability to digest sugar level are increasing
  • Vegan Food Market – Increasing awareness about the benefits of following vegan diet is the key factor responsible for the growth of this market.
  • Coconut Products Market – Increasing awareness regarding the benefits associated with the products coupled with growing demand from major developed countries such as Europe and North America is expected to drive the demand of Coconut Products.

Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports

SOURCE: Grand View Research, Inc.




I want to grow my online platform to create awareness about ethical consumerism, environmentalism, and the plant-based lifestyle. My main mission is to share information that empowers people to make better choices and create a VEG NEW WORLD :)


Your support is vital and is helping me share the collected information with thousands of readers and viewers. I try to deliver exclusive stories and relevant content in a challenging commercial environment. Your contribution helps me to cover the costs that my service requires. Please consider contributing (no matter how small) to keep the information flowing so you can remain informed and have life changing interviews and stories to share.

spot_img

Subscribe

Related articles

GUUD Modern Muesli Launches Functional Cereal Line

New ‘Fuel’ Products Take Breakfast to the Next Level GUUD,...

Yoga guru offers free guided meditation for World Meditation Day

  Available online for participants across the globe, or in-person...

Fleur & Bee Releases Beginner-Friendly Retinol Moisturizer

Clean skincare brand Fleur & Bee officially debuts its...

REVOLUTION BEAUTY EXPANDS INTO SELECT WALGREENS STORES AND ONLINE NATIONWIDE

  Revolution Beauty Expands Retail Footprint, Launching a Makeup Revolution...
spot_img
Betty Tűndikhttps://vegnew.world
Hi everyone! Nice to e-meet you! Here are a few things you should know about me. I am a conscientious, open-minded, adaptable to new experiences, and ambitious Business Development Manager with a Bachelor's Degree in Economics - Banking, Finance, and Accountancy. Through my studies, I've also obtained many naturopathic and nutrition degrees as well. Part-time jobs have added marketing, network marketing, event management, and store management skills to my experience throughout my career. Throughout my career, I have also been a Hotel Manager and owned a Bar/Restaurant & Internet Cafe. My online marketing and social media interactivity experience was gained when I and my husband started a business with an online/organic webshop & healthy lifestyle consultancy. I've improved my English at Cambridge Academy of English - 2003, in Cambridge. I live a conscious lifestyle, and try to protect the ecosystem. Animal lover and capable of helping others without judgment or negative reactions, this is thanked my knowledge in holistic therapies and the naturopathy courses I've followed. I cannot leave for my spiritual growth and the continuous development in alternative and holistic therapies, so I'm learning at Kyron School of New Consciousness, receiving a Bio Energo-therapist diploma. Thanks to all my experiences I've decided to venture into publishing and writing, while also continuing to learn many new things daily. I hope you enjoy reading my hand-picked news and check back for my weekly articles.