Soy Milk Market was valued US$ 8.27 Bn in 2021 and is expected to reach US$ 13.25 Bn by 2029, at a CAGR of 6.07 % during a forecast period.
Market Overview
The Soy Milk market research, which MMR Maximise Market Research has released, presents in-depth analysis of the Soy Milk market and predicts profitable growth for the market's providers by 2029. Since 2017, MMR has provided services to about 600 clients worldwide. Following the analysis of the Covid lockout in the research, the market's influence is expected, and despite the current state of the economy's recession, the market is displaying an increasing trend.
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Market Scope
The Soy Milk market research includes important information that shows the lucrative industry expansion. The market is anticipated to increase by 2029 as a result of the industry participants' major efforts. The cost structures and development ambitions and objectives of the major companies are provided in the report. The reports include information on market size, present and expected trends, market share, opportunities, threats, and risks, as well as information on new market entrants. The MMR research on the Soy Milk market can assist new entrants in understanding the latest trends, opportunities, and difficulties facing the sector. The research analysts and industry professionals used a variety of approaches to study the Soy Milk market in order to identify its advantages, disadvantages, opportunities, and threats.
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Segmentation:
Based on Product type, the market is sub-segmented into Flavored and Unflavored. The introduction of a range of flavors to the market has resulted in an increase in flavored soy milk consumption. From 2021 to 2029, this segment is predicted to grow at a CAGR of 6.3 %. Adults like flavored or sweetened soy milk because it covers the nutty flavor of the original product. Vanilla and chocolate are the most popular flavors. Manufacturers are working on expanding the range of flavors available and packaging them in appealing packages in order to improve consumption and drive overall product demand.
Based on Application, the market is sub-segmented into Desserts, Cheese and Snacks, Beverages. In 2021, the beverages segment had the largest market share of 42.2 %. Soy milk is used as a dairy substitute for cow milk in a variety of applications, including direct drinking, coffee and tea, and breakfast cereals. Because of its high protein content, the food is also utilized as an infant feed. The product is used to make cold noodle soup in Korean cuisine throughout the summer. Desserts are expected to rise at a CAGR of 6.6 % from 2021 to 2029, making them the fastest-growing segment. Due to an increase in the consumption of non-dairy ice cream and beverages such as smoothies and milkshakes, this category is expected to grow significantly. Soy milk is also used to make nutritious yoghurt smoothies, which are popular as treats in many countries across the world. In the next few years, the industry is likely to be driven by an increase in dessert consumption.
Key Players:
• Eden Foods
• Organic Valley
• Pureharvest
• WhiteWave Foods
• American Soy Products
• Vitasoy International Holdings
• SunOpta
• Pacific Natural Foods
• Panos Brands
• Sanitarium
• Hain Celestial Group, Inc.
• Kikkoman Corporation
• The Hershey Company
• Alpro
• Danone S.A.
• Campbell Soup Company
Regional Analysis
The study thoroughly examines the Soy Milk market and divides it into geographic segments. This clear identification of market trends, constraints, and fresh development opportunities results from the report's evaluation of the market in various regions on a local as well as a country-by-country basis. The new entrants can target the actual Soy Milk market audience by having a thorough understanding of local and regional customer behaviour.
Key Questions answered in the Soy Milk Market Report are:
Key offerings:
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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Mar 10, 2023