How Rising Vegan Population Fueling Demand For Soy Milk Market Globally
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Latest Market Study report by MarkNtel Advisors: Leading market research company, Title “Global Soy Milk Market- By Type (Flavored, Unflavored), By Application (Food & Beverages (Bakery & Confectionery, Beverages, Desserts), Dietary Supplements)” and other forecast 2024-30”.
This detailed report provides a thorough look at the industry, covering key aspects like the Soy Milk Market Size, its growth in share, development, and the top companies involved. It examines what's driving the market, using historical, current, and projected data, as well as emerging trends, technology updates, important insights, recent developments, potential limitations, and other factors that will influence the industry's direction in the future.
How Much is the Soy Milk Industry Worth?
Global Soy Milk Market is valued at around USD 10.5 billion in 2022 & is projected to grow at a CAGR of around 7% during the forecast period, i.e., 2024-30.
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Factors Influencing the Growth of the Soy Milk Industry:
Rising Lactose Intolerance & Dairy Allergies to Augment the Product Demand – Lactose intolerance includes the inability to digest lactose, a sugar found in milk & dairy products, due to a deficiency of the enzyme lactase, whereas dairy allergies involve an immune response to proteins found in cow's milk. The prevalence of lactose intolerance & dairy allergies among individuals has led consumers to seek non-dairy alternatives like soy milk to meet their nutritional needs without adverse reactions, which is one of the crucial aspects driving the market growth.
Soy milk, being dairy-free & lactose-free, provides a suitable solution for individuals with these conditions. Thus, consumers are increasingly becoming conscious of their dietary choices & are actively seeking healthier options. Soy milk, as a plant-based alternative, is perceived as a nutritious alternative with lower saturated fat content than cow's milk.
Competitor Insight - Global Soy Milk Market
In the market competitor analysis section, we examine how different companies are performing compared to each other. We look at their strengths and weaknesses to understand who is doing well and why. This helps us see what strategies are working and what changes might be needed to stay competitive. key players are included in this report: -
> Alpro
> Campbell Soup Company
> Danone S.A.
> Hain Celestial Group, Inc.
> Kikkoman Corporation
> Organic Valley
> Pacific Natural Foods
> Panos Brands
> SunOpta
> Vitasoy International Holdings
> WhiteWave Foods
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> Others
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Segmentation Summary - Soy Milk Market
The breakdown of the Soy Milk market into different segments provides a quick overview. It helps businesses understand what customers prefer and where they are located. By dividing the market into smaller groups based on purchasing habits and geography, companies can improve their business strategies. This summary offers a straightforward guide to better understanding the market.
By Type
By Application
By Distribution Channel
Geographically Insight: Global Soy Milk Market
Geographically, the Soy Milk Market expands across:
Of all, Europe is presumed to dominate the Soy Milk Market with the largest share during the forecast period due to the increasing vegan population. The propelling the demand for dairy alternatives like soy milk is instigating the leading players to supplement their production & distribution capacities to suffice the growing requirement.
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