Market Overview:
The global soya milk market is expected to grow at a CAGR of 6.5% from 2018 to 2030. The growth in the market can be attributed to the increasing awareness about the benefits of soya milk among consumers, and rising demand for plant-based beverages. Soya milk is a rich source of protein, vitamins, minerals and antioxidants, which makes it an attractive beverage choice for health-conscious consumers. Additionally, growing demand for organic soya milk products is another key factor driving the growth of this market.
Product Definition:
Soya milk is a type of plant-based milk that is made from soaking and grinding soybeans. It has a similar consistency to cow's milk and a slightly nutty flavor. Soya milk can be used in place of cow's milk in most recipes, and it is also popular as a dairy-free beverage. Soya milk is high in protein and contains essential nutrients like calcium, iron, and vitamin B12. It has been shown to have health benefits like reducing the risk of heart disease and cancer, promoting weight loss, and improving bone health.
Conventional:
Conventional is the usage of antibiotics and growth factors in soya milk production. The demand for conventional has been growing at a significant rate owing to its cost effectiveness, high yield, low maintenance & capital investment requirement and less government intervention.
Organic:
Organic products are those that are grown, manufactured or processed without the use of harmful chemicals such as pesticides, herbicides and fertilizers. Organic foods do not contain any artificial flavors, colors or additives. They also refer to non-GMO products produced through organic farming methods which involve the minimal usage of synthetic fertilizers and chemical pesticides.
The global organic industry was estimated at USD 44 billion in 2015.
Application Insights:
Adults application segment accounted for the largest share of more than 50.0% in 2017. The product is widely used in food and beverages industry as a dairy substitute for milk due to its higher protein content, calcium, and fatty acid profile. Moreover, increasing awareness regarding healthy lifestyle among adults is expected to promote the use of soya milk over other alternatives such as nut or coconut milk which are commonly consumed by adults globally.
The elderly population group often suffers from malnutrition owing to low appetite and dietary intake coupled with declining physical strength which may hinder their ability to consume food items including meat, eggs & poultry products along with fruits & vegetables thus providing an opportunity for manufacturers serving this demographic market segments including bakery products made using soya flour or derivatives such as tofu at a cheaper price compared to traditional dairy counterparts driving demand over the forecast period.
Regional Analysis:
Asia Pacific was the largest regional market in 2017 and is anticipated to witness a significant growth rate of 5.6% from 2018 to 2030 owing to increasing consumption of soya milk as compared to other conventional dairy products. The region has been witnessing strong growth in the vegan population, which is driving demand for plant-based alternatives for conventional animal-derived foods such as cheese and yogurt. This trend will continue over the forecast period, thereby supporting market development across this region.
Europe accounted for more than 25% share of global revenue in 2017 due to growing consumer awareness regarding health benefits associated with soya milk over other conventional dairy products such as almond, rice or coconut milk. Moreover, rising popularity of non-dairy desserts coupled with changing lifestyles will drive product demand across Europe during the forecast period. North America also holds a significant share within global market space owing its high acceptance level towards new age beverages especially among millennials (ages 1821).
Growth Factors:
- Increasing health awareness among people about the benefits of soy milk over dairy milk.
- Rising disposable income of consumers, which enables them to purchase premium quality soy milk products.
- Growing demand for vegan and lactose-free food products across the globe.
- Proliferation of retail outlets that sell soy milk and other plant-based beverages, especially in developed countries.
Scope Of The Report
Report Attributes
Report Details
Report Title
Soya Milk Market Research Report
By Type
Conventional, Organic
By Application
Adolescents, Adults, Elderly
By Companies
Kikkoman, MARUSAN, Dr. Chung’s Food Co., Ltd., Sahmyook Foods, Maeil, Unifood International (S) Pte Ltd, Fraser and Neave, Limited, Lactasoy co.th, Vitamilk, Vitasoy, Kikkoman, Fujian Dali Group, White Jade, V V Group, WhiteWave Silk
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
171
Number of Tables & Figures
120
Customization Available
Yes, the report can be customized as per your need.
Global Soya Milk Market Report Segments:
The global Soya Milk market is segmented on the basis of:
Types
Conventional, Organic
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Adolescents, Adults, Elderly
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Kikkoman
- MARUSAN
- Dr. Chung’s Food Co., Ltd.
- Sahmyook Foods
- Maeil
- Unifood International (S) Pte Ltd
- Fraser and Neave, Limited
- Lactasoy co.th
- Vitamilk
- Vitasoy
- Kikkoman
- Fujian Dali Group
- White Jade
- V V Group
- WhiteWave Silk
Highlights of The Soya Milk Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Conventional
- Organic
- By Application:
- Adolescents
- Adults
- Elderly
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Soya Milk Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Soya milk is a type of dairy product made from soybeans. It is similar to other types of milk, but has a slightly different flavor and consistency. Soymilk can be used in place of cow's milk in many recipes, or it can be enjoyed on its own.
Some of the major players in the soya milk market are Kikkoman, MARUSAN, Dr. Chung’s Food Co., Ltd., Sahmyook Foods, Maeil, Unifood International (S) Pte Ltd, Fraser and Neave, Limited, Lactasoy co.th, Vitamilk, Vitasoy, Kikkoman, Fujian Dali Group, White Jade, V V Group, WhiteWave Silk.
The soya milk market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Soya Milk Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Soya Milk Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Soya Milk Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Soya Milk Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Soya Milk Market Size & Forecast, 2018-2028
4.5.1 Soya Milk Market Size and Y-o-Y Growth
4.5.2 Soya Milk Market Absolute $ Opportunity
Chapter 5 Global Soya Milk Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Soya Milk Market Size Forecast by Type
5.2.1 Conventional
5.2.2 Organic
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Soya Milk Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Soya Milk Market Size Forecast by Applications
6.2.1 Adolescents
6.2.2 Adults
6.2.3 Elderly
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Soya Milk Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Soya Milk Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Soya Milk Analysis and Forecast
9.1 Introduction
9.2 North America Soya Milk Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Soya Milk Market Size Forecast by Type
9.6.1 Conventional
9.6.2 Organic
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Soya Milk Market Size Forecast by Applications
9.10.1 Adolescents
9.10.2 Adults
9.10.3 Elderly
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Soya Milk Analysis and Forecast
10.1 Introduction
10.2 Europe Soya Milk Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Soya Milk Market Size Forecast by Type
10.6.1 Conventional
10.6.2 Organic
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Soya Milk Market Size Forecast by Applications
10.10.1 Adolescents
10.10.2 Adults
10.10.3 Elderly
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Soya Milk Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Soya Milk Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Soya Milk Market Size Forecast by Type
11.6.1 Conventional
11.6.2 Organic
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Soya Milk Market Size Forecast by Applications
11.10.1 Adolescents
11.10.2 Adults
11.10.3 Elderly
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Soya Milk Analysis and Forecast
12.1 Introduction
12.2 Latin America Soya Milk Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Soya Milk Market Size Forecast by Type
12.6.1 Conventional
12.6.2 Organic
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Soya Milk Market Size Forecast by Applications
12.10.1 Adolescents
12.10.2 Adults
12.10.3 Elderly
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Soya Milk Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Soya Milk Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Soya Milk Market Size Forecast by Type
13.6.1 Conventional
13.6.2 Organic
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Soya Milk Market Size Forecast by Applications
13.10.1 Adolescents
13.10.2 Adults
13.10.3 Elderly
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Soya Milk Market: Competitive Dashboard
14.2 Global Soya Milk Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Kikkoman
14.3.2 MARUSAN
14.3.3 Dr. Chung’s Food Co., Ltd.
14.3.4 Sahmyook Foods
14.3.5 Maeil
14.3.6 Unifood International (S) Pte Ltd
14.3.7 Fraser and Neave, Limited
14.3.8 Lactasoy co.th
14.3.9 Vitamilk
14.3.10 Vitasoy
14.3.11 Kikkoman
14.3.12 Fujian Dali Group
14.3.13 White Jade
14.3.14 V V Group
14.3.15 WhiteWave Silk
