The global soy milk market is anticipated to grow at a CAGR of around 6% during the forecast period. The market growth is attributed to the recent surge in the population with a preference for vegan and vegetarian diets. Soy milk has a creamy texture and non-dairy composition with an excellent nutrient profile. Soy milk offers numerous health benefits such as the reduced risk of cardiovascular disease, lowered cholesterol, and reduced risk of cancer, which is increasing its adoption across the globe. This is expected to significantly drive the shares of the soy milk market during the forecast period.
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Moreover, animal milk’s preference among the population is lowering considerably in recent years owing to anxieties about bovine antibiotics, animal cruelty, and the industry’s environmental impact. This in turn, is surging the demand for dairy alternatives such as soy milk. In addition to this, the increased awareness regarding lactose intolerance across the globe is also propelling the soy industry growth and in turn, tend to expand the soy milk market size.
Furthermore, traditional animal milk undergoes frequent adulteration and contained harmful pathogens, which result in increasing serious diseases such as tuberculosis and listeria. This is also expected to increase the demand for soy milk, and in turn, driving the soy milk market growth. Moreover, soy milk aids in reducing osteoporosis risk and buffer the effects of menopause. Hence, the adoption of soy milk by the female population is expected to be significantly high. This in turn, will be driving the soy milk market during the forecast period.
Additionally, soy milk is found to be a safer and healthier substitute that can be consumed by the diabetic population. In various researches, it is found the soy milk consumption could decrease serum d-dimer level among type 2 diabetic patients with nephropathy. According to the International Diabetes Federation (IDF), 1 in every 11 people is suffering from diabetes that accounts for 463 million people across the globe. Since the population with diabetes is increasing very rapidly across the globe, the demand for soy milk will increase significantly.
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Global Soy Milk Market- Segmentation
By Type
- Plain Soy Milk
- Flavored Soy Milk
By Application
- Desserts
- Cheese & Snacks
- Beverages
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