A Look into Soy Milk Industry……Deep Analysis…..


The global soy milk market size is expected to reach USD 11.08 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.
The market is highly fragmented due to the presence of many global players in different parts of the world. Key providers in this market include Eden Food; Organic Valley; Pureharvest; Vitasoy International Holdings; and SunOpta Inc. The product is made available at various local super market stores and e-commerce channels in attractive packages. This is a strategy employed by the global manufacturers to increase product consumption and propel market growth.
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.
To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/soy-milk-market/request/rs4
Asia Pacific was the largest consumer of the product in 2018 due to large scale production of soy bean in major countries like China, India, Japan, 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.
Further key findings from the study suggest:
·         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., Germany, India, and Japan owing 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.
The global soy milk market size was valued at USD 7.30 billion in 2018. Increasing awareness about the health benefits associated with consumption of soy milk is expected to drive the demand over the forecast period. Increasing popularity of non-dairy foods and beverages is also anticipated to boost the product demand.
Soy milk acts as a great substitute for cow milk as it contains an equal amount of protein and is low in calories. Demand for low-calorie products is high due to growing obesity. Hence, soy milk is preferred by a lot of consumers who are weight conscious or trying to lose weight. This product also lowers the bad cholesterol level and is highly preferred by heart patients. The product is also popular among lactose intolerant and anemic population as it is naturally lactose-free and rich in iron. Its high isoflavone content is known to prevent hormone-related cancers.
Numerous other benefits of the product are expected to increase the overall consumption of soy milk and drive the market. However, this product can face stiff competition from its substitutes in the market, such as almond and coconut milk. These substitutes are more easily available due to greater awareness among consumers. Hence, manufacturers are also focusing on increasing awareness about their product via marketing campaigns. Another factor that can obstruct the market growth is the low calcium content in the natural form of the product. Calcium fortified soy milk is available in the market but such milk may not be fit for regular consumption due to external addition of nutrients.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-soy-milk-market
Introduction of various flavors like vanilla, chocolate, and strawberry by the manufacturers to mask the nutty taste of soy milk is propelling the product demand among kids. However, unflavored or plain soy milk is consumed on a large scale due to its high production. Key manufacturers are investing in research and development to curb the nutty taste by introducing more flavors and selling the product in attractive packages via many distribution channels. Celebrity endorsements are also positively impacting the consumer preference for the product.
The unflavored segment was prominent in 2018 and is anticipated to continue the trend for the next few years. Unflavored soy milk is not fortified or artificially sweetened and hence is preferred by many consumers. Many manufacturers provide the product fortified with calcium and other essential nutrients to increase its consumption.
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
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.




Comments

Post a Comment

Popular posts from this blog

Foot Orthotic Insoles Market 2026: What Will Be Changes In Investment Ratio With Opportunity Analysis?? |Grand View Research, Inc.

Image
The global foot orthotic insoles market size is expected to reach USD 5.5 billion by 2026 , according to a new report by Grand View Research, Inc., exhibiting a 6.3% CAGR during the forecast period. Growing incidence of diabetes and plantar fasciitis are expected to drive the market over the forecast period. Moreover, rapid urbanization and increasing disposable income are anticipated to propel growth in future. Technological advancements, spurred by ongoing investments in R&D, are expected to increase growth potential in the coming years. Moreover, rise in geriatric population, which is susceptible to orthopedic disorders, is impelling product demand globally. For instance, in 2017 as per the U.S. Census Bureau, the number of people aged 65 or older increased by 1.6 million from 2014 to 2015. In addition, increasing incidence of sports injuries and rising prevalence of osteosarcoma in the region has led to the need for various orthotics devices, which is expected to drive ...
Read more

A Look into Smokehouse Industry……Deep Analysis…..

Image
The global smokehouse market size is anticipated to reach USD 157.2 million by 2025 , according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 2.2% during the forecast period. Rising need for a healthy lifestyle has led consumers to prefer griller or barbequed food over fried food and other kinds of fast food. This trend is expected to have a positive impact on the market growth. The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution ...
Read more

A Look into Shapewear Industry……Deep Analysis…..

Image
The global shapewear market size is expected to reach USD 3.80 billion by 2025 registering a CAGR of 7.7%, according to a new report by Grand View Research, Inc. The introduction of various products according to the type of garments is expected to support the market growth in the years to come. Growing target population across the globe is also augmenting the market growth. Changing lifestyle incurs increased investment in fitness and related accessories, which has positively impacted the market growth. The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak worldwide. The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India. However, the industry is likely to recover over the forecast timeframe,...
Read more