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Soy Milk Market Trends

Report ID: GMI1388
Published Date: Aug 2023
Report Format: PDF

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Soy Milk Market Trends

The increasing popularity of plant-based diets and the growing awareness of their health and environmental benefits were driving the demand for soy milk and other plant-based alternatives to dairy. Consumers were looking for healthier options, and soy milk was gaining traction due to its perceived nutritional benefits, including being a source of plant-based protein, vitamins, and minerals. Companies were focusing on developing a wider range of flavors and formulations to cater to diverse consumer preferences and palates, enhancing the appeal of soy milk.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of soy milk recorded USD 6.6 billion in 2023 and is set to reach USD 13.6 billion by 2032, due to the increasing consumer awareness about health and wellness worldwide.

The ice cream application segment registered 40% of the market share in 2022, on account of its usage in several vegan and dairy-free desserts.

U.S. market reached 1.3 billion revenue in 2022, owing to the increasing number of health-conscious consumers in the region.

Silk, So Delicious Dairy Free, Alpro, Pacific Foods, Eden Foods, WestSoy, Vitasoy, Wildwood Organic, Organic Valley, and Trader Joe's are some of the majors soy milk companies worldwide.