Discover Soy Dessert Market Upcoming Trends, Growth Drivers And Challenges – Forecast To 2025|Grand View Research, Inc.



The global soy dessert market size is expected to reach USD 90.2 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.2% over the forecast period. Growing awareness about the health benefits, rising lactose intolerance, and shifting trends to healthy sweets are expected to drive the market in the forecast period.
The Soy Dessert market is witnessing a significant rise in demand globally, mainly through online channels. Will the suppliers be able to keep up with this massive surge in demand? Our team is working to account for this rapid surge in our estimates. The report will account for Covid19 as a key market contributor.
Soy milk contains less fats, carbohydrates, and cholesterol as compared to dairy milk, thus rising health consciousness among young consumers is expected to increase the demand for the product in the coming years. The product is high in protein and it helps in weight loss thus are good for obese population. These are the prominent factors that are expected to drive the market for the product in the forecast period.
Based on distribution channel, hypermarket dominated the market and accounted for more than 65.0% share of the global revenue in 2018. Availability of a wide variety of the products under one roof, discounts, and presence of international players are the prominent factors for the segment growth. Online retailers is the fastest growing segment and is expected to witness significant growth in the forecast period. Increasing internet usage and penetration in the rural areas and ease of access to the young consumer group are propelling the demand for the segment in the forecast period.
Cakes and pastries dominated the market and accounted for more than 65% share of the overall revenue. Increased usage of the product in countries such as U.S and other European countries and high intolerance of lactose are driving the market for the product. Ice cream is the fastest growing segment and is expanding at a CAGR of 8.0% in the forecast period. Presence of a large number of flavors and pocket-friendly small packs are the prominent factors for the segment growth. In countries such as Brazil, consumption of ice cream is higher in comparison to cake.
North America is the dominant regional market and the region accounted for 28.0% share of the overall revenue. High lactose intolerance among consumers in countries such as Canada and U.S is the prominent factor driving the regional market. Asia Pacific is the fastest growing region and is expanding at a CAGR of 8.3% in the forecast period. Increasing awareness about health problems due to lactose in developing countries such as India and China and large consumer base of more than 34.0% of the global population are the prominent factors for the regional market growth.
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Further key findings from the study suggest:
·         By product, ice cream is projected to expand at a CAGR of 8.0% over the forecast years
·         Hypermarket is the most preferred distribution channel and it accounted for more than 65.0% share of the overall revenue in 2018
·         Asia Pacific is the fastest growing regional soy dessert market with a CAGR of 8.3% due to its large variety of products, advertisement, and discounts
The global soy dessert market size was valued at USD 55.5 billion in 2018 and is expected to expand at a CAGR of 7.2% in the forecast period. The primary driving factor for the growth of industry is increasing health awareness and lactose intolerance. Moreover, less cholesterol, fats, and carbohydrates in the product as compared to dairy milk are increasing its demand among the health conscious consumers, thereby driving the market to the positive side.
Furthermore, increasing awareness regarding nutritional benefits of the product is expected to drive the market in the forecast period. Consumers can cut-out their calorie intake as compared to that of dairy products, thus they can indulge themselves in guilt free consumption owing to increase in demand for the product. Increasing disposable income, changing lifestyle, and inclination towards healthy sweet dishes are the prominent factors for the market growth.
Soy also contains phytosterols that prevent cholesterol absorption and thus lower the risk of heart failure, thereby increasing its popularity among heart patients. Countries such as U.S. and U.K. where consumption of confectionary items is high and consumers are lactose intolerant are expected to propel the overall demand for the product in forecast period. Countries such as India, China, and Japan contributes approx. 35.0% of the global population. Increasing awareness about the health issues and benefits of the product can propel the product demand to a great extent in these countries.
However, apart from various nutritional facts, the product lacks in calcium, which is, in turn, restraining the market growth. In order to fulfill the calcium content, manufacturers invigorate by artificial calcium due to which the product sometimes losses its other nutritional content. In countries such as U.S, the government is stringent about the nutritional content of the product, thus the aforementioned factors can hamper the market growth in such regions in the forecast period.
Browse Press Release of this report:                                
https://www.grandviewresearch.com/press-release/global-soy-dessert-market
For instance, according to a Mintel’s U.S. report, the market for soy has been decreased by 16% in sales between 2008 and 2010. Although, for sweets that are not consumed regularly, these factors can be further negated by the usage of calcium supplements. In addition, manufacturers are adding calcium content while producing the sweets, thereby driving the market in the forecast period.
Grand View Research has segmented the global soy dessert market on the basis of product type, distribution channel:
Soy Dessert Product Type Outlook (Revenue, USD Billion, 2015 - 2025)
·         Cakes & Pastries
·         Ice cream
·         Pudding
·         Others
Soy Dessert Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
·         Hypermarket
·         Convenience Stores
·         Online Retailers
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.


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