Soy Milk Market Analysis

Soy Milk Market Analysis

The soy milk market from fresh sources segment dominated around USD 3.8 billion revenue in 2022. Consumers seeking a healthier alternative to dairy milk or other beverages might choose plain soy milk for its low saturated fat content, cholesterol-free nature, and potential benefits for heart health.
 

The ice creams segment accounted for 40% of the soy milk market share in 2022. Soy milk serves as a base for making vegan and dairy-free desserts, such as puddings, custards, and ice creams.
 

The soy milk market from Supermarkets and Hypermarkets segment is anticipated to grow at 7.9% CAGR through 2032.  Grocery stores offer convenient access to a wide variety of soy milk brands, flavors, and types, driving demand for consumers looking to include soy milk in their regular shopping trips.
 

U.S. soy milk market size held over USD 1.3 billion in 2022. Consumers in North America are increasingly health-conscious and are seeking alternatives to traditional dairy products. The perceived health benefits of soy milk, such as being a good source of plant-based protein and its potential to lower cholesterol, drive its demand.