Sep 26, 2019 (Heraldkeepers) -- The Global Soy Milk Market was valued at more than USD 15 billion in 2018 and is expected to cross USD 23.5 billion by 2026. This report focuses on the essential factors of the market, such as the size, share, demand, growth, gross profits, earnings, and revenue to evaluate the rise of the industry in the future. It assesses the data gathered from the past years 2016 and 2017 to give an extensive view of the trends and predicts the possible rise of the industry during the years 2019 to 2026 while considering 2018 as the base year.
Soy milk is a plant-based drink with similar taste and consistency to that of dairy milk, made using soybeans. It is produced by soaking and grinding the soybeans, boiling the mixture, and filtering out remaining particulates. Soy milk has an equal amount of protein as that of regular cow milk but is very low in calories because of which it is favored by the obese population and people who are looking to reduce weight. Soy milk also helps in lowering the levels of bad cholesterol, making it the right choice for heat patients. It has a higher content of carbohydrates, and calcium as compared to regular milk and is also free of lactose.
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The increase in the population suffering from obesity, cardiovascular diseases, and lactose intolerance, and the various other health benefits of soy milk are the driving factors of the global market. The introduction of flavored soy milk and calcium-fortified milk are also boosting the growth of the market. Soy milk is also ecologically and economically advantageous to cow milk. Cows require much more energy in order to produce milk. Cows can consume up to 24 kilograms of food in dry matter basis and 90 to 180 liters of water a day, resulting in an average production of 40 kilograms (88 lb) of milk a day. However, the low awareness of soy milk and the rise of other milk substitutes such as almond milk and rice milk may hinder the growth of the market.
Key findings from our global Soy Milk market forecast report:
The Soy milk market has been categorized into different segments based on form as Sweetened, Unsweetened, based on distribution channel as Online, Hypermarkets/Supermarkets, Retail, Others, based on application as Cheese, Desserts, Snacks, Beverages, Others, to assess their size, share, demand, trends, gross profit, total earnings, and revenue to speculate further aspects. In terms of form, the unsweetened segment owns the majority of the market share. As unsweetened soy milk is not fortified, it doesn't contain any artificial ingredients, which is why it is preferred by the consumers. In terms of application, the beverages segment owns the majority of the market, accounting for more than 42% of the market share. This is because it is actively being used as a milk substitute in coffee, tea, and breakfast cereals. The desserts segment is expected to grow at the fastest rate during the forecast period because of the growing demand for non-dairy ice creams and desserts.
Global Soy Milk Market overview:
The global soy milk market is dominated by the Asia Pacific, mainly because of massive consumption in countries like China, India, Japan, and South Korea. North America and Europe are expected to witness significant growth during the forecast period because of the rise in demand for non-diary based products from the growing health-conscious population. The other geographical areas mapped in this report are the Middle East and Africa and Latin America. This study also profiles the key players that account for a significant share in the global economy of the herbicide market.
Key players in the global Soy Milk market:
? Eden Foods
? Vitasoy International Holdings
? Pacific Foods of Oregon
? Stremicks Heritage Foods
? Johars Group
? The Hershey Company
? Hain Celestial
? Kikkoman Corporation
? NOW Foods
? So Delicious Dairy Free
Market segment based on Form:
Market segment based on Distribution Channel:
Market segment based on Application:
Market segment based on Region/Country:
? North America
? Asia Pacific
? Middle East and Africa
? Latin America
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