The global flavoured soy milk market is anticipated to grow at a significant CAGR during the forecast period. During the forecast period, rising awareness of the health benefits associated with soy milk consumption is likely to increase demand. Product demand is expected to rise as the popularity of non-dairy foods and beverages grows.
Soy milk is a wonderful alternative to cow milk as it has the same amount of protein and is lower in calories. Due to the rise in obesity, there is a huge demand for low-calorie items. As a result, many consumers who are weight conscious or trying to lose weight prefer soy milk. Soy milk also lowers bad cholesterol levels, making it a popular choice among heart patients. As it is naturally lactose-free and high in iron, it is also popular among lactose intolerant and anaemic people. Its high isoflavone content has been linked to a reduction in the risk of hormone-related malignancies.
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Several other advantages of the product are predicted to boost the global soy milk market. Furthermore, manufacturers are introducing flavours like vanilla, chocolate, and strawberry to cover the nutty taste of soy milk, which is driving product demand among children. However, due to its high manufacturing, unflavored or plain soy milk is widely consumed. Key manufacturers are spending in R&D to combat the nutty flavour by producing new flavours and offering the product in appealing packaging through a variety of distribution channels.
For instance, in 2019, Invigorate Foods said that it plans to invest $8 million in a plant, equipment, and other capital goods required for manufacturing soya milk products in India over the next three years. “Genki-Ya Tofu,” a product made with fresh soya milk extracts, was introduced by the firm. Consumer choice for the goods is also positively influenced by celebrity endorsements.
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Market Coverage
- Segment Covered-
o By Application
o By Products Type
- Regions covered-
o North America
o Europe
o Asia Pacific
o Rest of the World
- Competitive Landscape- Eden Food; The Hershey Company; Campbell Soup Company; Vitasoy International Holdings; and Kikkoman Pearl Soy Milk.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Flavoured Soy Milk Market by Segments
By Products Type
- Flavoured
- Unflavoured
By Application
- Desserts
- Cheese and snacks
- Beverages
- Others
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