Plant-based milks such are soy milk, almond milk, oat milk, rice milk, and others are gaining rapid traction among foodservice providers, owing to increasing consumer demand in restaurants and cafes. Soy milk products are housed in special refrigerated units, which significantly increase their shelf life as compared to traditional milk.
Soy milk is also considered as one of the most efficient milks used for baking. The flavor offered by soy milk is mild and goes unnoticed in breads, muffins, cakes, and other baked goods. It also offers a better structure and texture to the finished product. On the back of all these factors, the global soy milk market is expected to witness a remarkable value CAGR of 9% through 2030.
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Key Takeaways from Soy Milk Market Study
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“The soy milk market is expected to witness high incremental opportunity in the food processing industry, owing to growing use in the foodservice industry. Soy milk is expected to replace dairy milk in foodservice restaurants, owing to increasing lactose-intolerant audience. It is also gaining popularity in applications such as desserts, cakes, cheese, snacks, and beverages. Key players can target these segment to create room for increased opportunities.” says a PMR analyst.
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Global Soy Milk Market: Competitive Landscape
Key players in the soy milk market are focusing on expansion of product offerings to fulfill evolving consumer needs and keep up with the growth in the global soy milk market. These players are focusing on introducing new products with increased application at affordable prices.
Apart from this, key players in the soy milk market are emphasizing on the expansion strategy through strategic alliances/partnerships, mergers, and acquisitions to achieve high growth and expand global footprint in the food & beverage industry.
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Explore More Valuable Insights on Global Soy Milk Market
Persistence Market Research, in its new report, offers an impartial analysis of the global soy milk market, presenting historical data (2015-2019) and estimation statistics for the period of 2020-2030. The study offers compelling insights on the soy milk market based on nature (organic, conventional), end use (household/retail, foodservice industry, food and beverage industry), and distribution channel (business to business, business to consumer), across seven regions.