Soy Milk Market Size & Share Analysis 2019 -2023 | Top Leading Key Player- Eden Foods, Inc, Vitasoy International Holdings, Organic Valley, The Hershey Company

Market Overview

Soymilk market is witnessing a rapid growth owing to high nutritional value and diverse applications across the food industries. It is primarily used for the preparation of various products such as desserts, snacks, non-dairy cheese, and healthy beverages. These factors have a positive influence on the growth of this market. Additionally, the absence of lactose in the product is one of the major factors for the growth of soymilk market, which has increased its popularity among the lactose intolerant consumers. The production and the consumption of soymilk are high in the North American region and is projected to increase at a positive growth rate in various countries of Europe and Asia Pacific over the given forecast period.

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Market Forecast

The global soymilk market share is expected to grow at a higher growth rate supported by rise in health conscious lifestyle and increasing consumer awareness on lactose intolerance. The prevalence of lactose intolerance cured by self-diagnosed cases has given market rise to soymilk for dairy consumption with lactose free offerings. Rising population of individuals with lactose intolerance is identified to be increasing in America, which propels the growth of this market.

All these factors will contribute to the estimated CAGR of 3.2% of soymilk market during the forecast period 2017-2023.

Market Segmentation

Global Soymilk Market is segmented by Type, Flavor, Application, Distribution Channel and Region.

Regional Analysis

Global Soymilk Market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America holds a major market share followed by Asia Pacific. High demand for soymilk due to high nutritional value and high demand for dairy substitutes is contributing to the positive growth of the soymilk market. The Netherlands, China, Mexico, Japan, and Germany are the major importers of soymilk across the globe. Developed trading channels and high demand for healthy food are also driving the growth of the market in these countries.

Competitive Analysis

The Major Key Players in the Soymilk Market are

Eden Foods, Inc. (the U.S.)
Vitasoy International Holdings LTD (China)
Organic Valley (the U.S.)
The Hershey Company (the U.S.)
Alpro (Belgium)
Soy Fresh (India)
Kikkoman Corporations (Japan)

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Soymilk Manufacturers across various regions are following the strategy of product innovations and increased focus on R & D to penetrate the global market and to meet the growing demand for the product. Enhancement in the product line will further attract the consumers to choose soymilk based on increased nutritional value of the product, thereby increasing its market share. The U.S., dominates the share in North America and exports the product to various other countries, which include Canada, China, Mexico, Japan, Indonesia and others.

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