Soy Milk Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Plain Soy Milk, Flavored Soy Milk), By Packaging (Cartons, Bottles, Pouches), By Distribution Channel (Online, Offline), By Application (Beverage, Bakery, Desserts), And By Geography – Forecast From 2019 To 2024
Published:  May 2021 Report Code: KSI061612759 Pages: 126

The soy milk market is estimated to grow to US$5.011 billion in 2024 from US$3.761 billion in 2018 at a CAGR of 4.90% during the forecast period. Soy milk refers to the plant-based milk produced from Soy Beans, it has various nutritional benefits. Soy Milk is low in cholesterol and is also free from lactose, it is a great alternative to dairy-based products especially for people who are lactose intolerant.

According to the National Library of Medicine (NLM), approximately 65 percent of the human population has a reduced ability to digest lactose after infancy. Lactose intolerance in adulthood is most prevalent in people of East Asian descent, affecting more than 90 percent of adults in some of these communities.

Unsweetened soy milk has a lower calorie content than compared to its plant-based counterpart soy milk as well as from cow’s milk. The growing health consciousness along with rising demand for low calories drinks is anticipated to drive the market for soy milk. However, the availability of substitute products such as plant-based milk such as cashew and rice milk as well as cow milk is expected to hamper the Soy milk market growth. Product innovations by major players in the form of new flavors and varieties are expected to widen up the growth opportunities for the soy milk market during the forecast period.

The soy milk market has been segmented on the basis of type, packaging, distribution channel, application, and geography. In the type segment, plain soy milk is expected to grow at a substantial rate owing to the preference for unsweetened milk due to health concerns. Geographically, the Asia Pacific is anticipated to hold a significant share in the market during the forecasted period on account of the rising disposable income in the growing economies of India and China along with the changing consumption habits.

DRIVERS
Rising prevalence of lactose intolerance.
Growing health consciousness.

RESTRAINT
Availability of substitutes.

INDUSTRY UPDATES
In December 2017, Campbell Soups Company acquired Pacific Foods Of Oregon LLC for $700 million.

The major players profiled in the soy milk market include Danone, Pacific Foods of Oregon LLC (CSC Brands L.P.), Sanitarium, Organic Valley, Panos Brands, SunOpta, PureHarvest, Eden Foods Inc., Provamel, The Hershey Company.

Soy Milk Market Scope:

Report Metric Details
 Market size value in 2018  US$3.761 billion
 Market size value in 2024  US$5.011 billion
 Growth Rate  CAGR of 4.90% from 2018 to 2024
 Base year  2018
 Forecast period  2019–2024
 Forecast Unit (Value)  USD Billion
 Segments covered  Type, Packaging, Distribution Channel, Application, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Danone, Pacific Foods of Oregon LLC (CSC Brands L.P.), Sanitarium, Organic Valley, Panos Brands, SunOpta, PureHarvest, Eden Foods Inc., Provamel, The Hershey Company
 Customization scope  Free report customization with purchase

Segmentation

The soy milk market has been analyzed through the following segments:

By Type
Plain Soy Milk
Flavored Soy Milk

By Packaging
Cartons
Bottles
Pouches

By Distribution Channel
Online
Offline

By Application
Beverage
Bakery
Desserts

By Geography
North America
USA
Canada
Mexico

South America
Brazil
Argentina
Others

Europe
Germany
France
United Kingdom
Spain
Others

Middle East and Africa
Saudi Arabia
Israel
Others

Asia Pacific
China
Japan
South Korea
India
Others


Frequently Asked Questions (FAQs)

Q1. What will be the soy milk market size by 2024?
A1. The global soy milk market is estimated to reach a market size of US$5.011 billion in 2024.
 
Q2. What is the size of global soy milk market?
A2. Soy Milk market was valued at US$3.761 billion in 2018.
 
Q3. What are the growth prospects for soy milk market?
A3. The soy milk market is estimated to grow at a CAGR of 4.90% during the forecast period.
 
Q4. What factors are anticipated to drive the soy milk market growth?
A4. The growing health consciousness along with the rising demand for low calories drinks is anticipated to drive the soy milk market.
 
Q5. Which region holds the maximum market share of the soy milk market?
A5. Geographically, the Asia Pacific is anticipated to hold a significant share in the soy milk market.

1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Currency
1.5. Assumptions
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. KEY FINDINGS
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. SOY MILK MARKET BY TYPE
5.1. Plain Soy Milk
5.2. Flavored Soy Milk
6. SOY MILK MARKET BY PACKAGING
6.1. Cartons
6.2. Bottles
6.3. Pouches
7. SOY MILK MARKET BY DISTRIBUTION CHANNEL
7.1. Online
7.2. Offline
8. SOY MILK MARKET BY APPLICATION
8.1. Beverage
8.2. Dairy
8.3. Desserts
9. SOY MILK MARKET BY GEOGRAPHY
9.1. North America
9.1.1. USA
9.1.2. Canada
9.1.3. Mexico
9.2. South America
9.2.1. Brazil
9.2.2. Argentina
9.2.3. Others
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. United Kingdom
9.3.4. Spain
9.3.5. Others
9.4. Middle East and Africa
9.4.1. Saudi Arabia
9.4.2. Israel
9.4.3. Others
9.5. Asia Pacific
9.5.1. China
9.5.2. Japan
9.5.3. South Korea
9.5.4. India
9.5.5. Others
10. COMPETITIVE INTELLIGENCE
10.1. Competitive Benchmarking and Analysis
10.2. Recent Investmentss and Deals
10.3. Strategies of Key Players
11. COMPANY PROFILES
11.1. Danone
11.2. Pacific Foods of Oregon LLC (CSC Brands L.P.)
11.3. Sanitarium
11.4. Organic Valley
11.5. Panos Brands
11.6. SunOpta
11.7. PureHarvest
11.8. Eden Foods Inc.,
11.9. Provamel
11.10. The Hershey Company
LIST OF FIGURES
LIST OF TABLES

Danone
Pacific Foods of Oregon LLC (CSC Brands L.P.)
Sanitarium
Organic Valley
Panos Brands
SunOpta
PureHarvest
Eden Foods Inc.
Provamel
The Hershey Company

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