Soy Milk Market Outlook from 2024 to 2034

Soy milk, over the years, has come a long way to become one of the prominent non-dairy alternatives. Busting myths and negative perceptions, soy milk’s acceptance in the general population has taken the market to a staggering USD 6,877.4 million in 2024.

Effective marketing strategies by key players in the market are set to bring this market close to USD 12,860.8 million by 2034, progressing at a CAGR of 8.70%.

Attributes Details
Soy Milk Market Size for 2024 USD 6,877.40 million
Forecast Market Value for 2034 USD 12,860.8 million
Value-based CAGR from 2024 to 2034 8.70%

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Soy Milk Industry Analysis

  • The general populace’s preference for soy milk is increasing as the non-dairy alternative is also benefiting the market.
  • Rising awareness of the nutritional content in this milk amidst the ongoing fitness trend is also driving sales of soy milk in supermarkets and online platforms to unprecedented heights.
  • The eCommerce boom, promotion by social media influencers, last-mile grocery delivery applications, and people’s desire to explore different dietary preferences are also some of the torch-bearing drivers for the growth of the flavored soy milk market.
  • Lactose intolerance, in the developing world is also bringing about substantial changes in the dietary preferences of the general population. Soy milk-based confectionery and products are often seen stacked up in leading supermarkets and bakery products.
  • Product innovation by leading players in the market also has amplified people’s admiration for soy milk products. For instance, Vitamilk, the soy milk brand from Thailand, recently launched an Ube-flavored variant of soy milk. The company is able to exactly mimic the taste, texture, and flavor of Ube-ice cream in their new product.

Factors Hampering the Soy Milk Market

  • The biggest threat soy milk faces is from other non-dairy alternatives such as almond milk, oat milk, and coconut milk. These alternatives are often perceived as cheaper, healthier, and tastier.
  • Sales of this milk are also experiencing a significant plunge, as compared to its other plant-based alternatives, due to its less appealing and bitter taste. This has adversely hampered its popularity among consumers who prefer taste more than other factors.
  • While soy milk is best suited for people with lactose intolerance, it itself is one of the largest allergens in the general populace. This limits its acceptance, keeping a substantial chunk of the population away from the market.
  • There are still some concerns about genetically modified organisms, hormone disruption due to phytoestrogens, and environmental impacts of soy farming. These factors are collectively contributing to the negative growth rate.

Key companies in the market, over the years, have made concrete efforts to ward off negative perceptions regarding soy and soy-based products. These companies are often found collaborating with fitness bloggers and nutrition experts to promote their offerings.

Besides this, it has also been observed that, in the last few years, there has been an influx of different flavors in the soy milk line. This is primarily done to mitigate the misconception about the bitter taste of soy milk.

Nandini Roy Choudhury
Nandini Roy Choudhury

Principal Consultant

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Category-wise Insights

Conventional Soy Milk Retains its Dominance despite the Advent of Organic Ones

Soy milk, in the market, comes in two variants: organic and conventional. Despite the ongoing trend of organic dietary preferences, conventional soy milk holds a market share of 89.3%, as of 2024.

Attributes Details
Top Category Conventional
Market Share (2024) 89.30%
  • Conventional soy milk products are garnering more admiration among the general consumer base as they typically tend to be a little less heavy on the pockets, as compared to the organic ones.
  • The shelf life of conventional soy milk is also long due to the use of additives and preservatives. Their sales, in the past couple of years, have also touched the skies due to their widespread availability on e-commerce platforms.

Higher Consumer Preference for Plain Soy Milk Products over Flavored Ones

Soy milk, in the initial few decades, faced a serious plunge in demand due to its bitter taste. This pushed the manufacturers to curate flavored soy milk products. But despite this, a considerable chunk of consumers are still opting for plain soy milk, which holds a market share of 83.70%.

Attributes Details
Top Product Type Plain
Market Share (2024) 83.70%
  • Plain soy milk is capturing more esteem in the general population as it is perceived as healthy compared to flavored ones. Flavored soy milk products contain more additives, preservatives, and sometimes sugar, which doesn’t suit the preferences of health-conscious people.
  • Plain soy milk is also cheaper, as compared to flavored ones, which attracts a substantial chunk of consumers with tight pockets.

Country-wise Insights

Urbanization, growing lactose intolerance, emerging trends in vegan milk and plant-based products, and the booming eCommerce sector are contributing to the soy milk market expansion globally. Mentioned below are the growth rates of India, Japan, Germany, the United States, and China, for the forecast period. These countries are considered some of the most lucrative markets in the industry.

Countries CAGR (2024 to 2034)
India 7.00%
Japan 6.40%
Germany 6.30%
United States 5.50%
China 4.20%

Influencer Brands and Social Media Promotion Benefits Soy Milk Market in India

The market in India is slated to grow at a CAGR of 7.00% from 2024 to 2034.

  • India is a country with more than 880 million people using social media. This has pushed soy milk manufacturers to advertise their products on these platforms. To reach a more concise consumer base, these brands are also collaborating with fitness bloggers and nutrition experts.
  • The advent of influencer brands in the Indian market is also aiding the acceptance of soy milk as an alternative to conventional milk products. The promotion of these brands in leading television sitcoms is also generating great trust among Indian consumers, which is positively affecting the market.

Japan’s Aging Population Aids the Soy Milk Market Growth

Japan is also one of the most lucrative countries in this market. It is very likely to grow at a CAGR of 6.40% over the forecast period.

  • In 2024, Japan is dealing with the problem of growing aging population. This population is more predisposed to age-related problems, such as high levels of cholesterol, obesity, and blood pressure, informing the growth of soy milk.
  • Soy milk, as a reputedly much healthier variant of milk, best suits the dietary preferences of the geriatric population of the country. This, along with the familiarity of Japanese people with soy milk, has positioned it as one of the prosperous markets in the overall industry.

Germany’s Cultural Affinity to Soy Milk Profits its Domestic Manufacturers

Germany is one of the most vibrant markets for soy milk. It is inclined to grow at a CAGR of 6.30% through 2034.

  • Germany, during the world wars, was heavily dependent on soy milk and other plant-based alternatives to milk due to supply chain disruptions. This cultural affinity toward it has led to the considerable acceptance of soy milk in the German population.
  • Besides this, German brands in the plant-based milk domain, are also introducing refillable glass bottles to cater to the demand of eco-conscious consumers.

Rising Incidences of Diabetes in the United States Population to Benefit Soy Milk Market

The market in the United States is also a promising one. It is slated to grow at a CAGR of 5.50% through 2034. According to a survey, 11.6 percent of the total United States population is dealing with diabetes. This has increased the reliance of people on soy milk products as it potentially has more health benefits than traditional milk.

Chinese Population’s Plant-based Dietary Preferences Popularizes Soy Milk Products

The Chinese market is also very likely to flourish in the coming years. It is slated to grow at a CAGR of 3.70% through 2034.

  • China is home to one of the largest populations in the world. Its sheer enormity is enough to make it one of the most lucrative countries in the market. Besides this, the ongoing trend of plant-based diets is also proving to be a boon for the Chinese market.
  • The pharmaceutical and nutraceutical industry in China has also seen major ups in the last couple of years. Its application in cereal bars, protein shakes, milkshakes, etc., has also propelled the market to touch the skies in the country.

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Competitive Landscape

Soy milk, as a non-dairy, plant-based alternative to milk has come of long way. The market, which was only relevant in a few countries, a couple of decades ago, has expanded significantly due to the advent of multinational companies and e-commerce platforms in emerging economies.

Recent Developments

  • In August 2021, Russia-based mayo giant EFKO Group made its entry into the market, investing USD 8 million to produce soy milk which has a competitive price with cow milk. Test batches under the Hi! the brand was already sold.
  • In March 2020, Asahi Soft Drinks launched a plant-based version of Calpis, using soymilk. Marketed as Green Calpis, the beverage boasted a refreshing aftertaste and lower sweetness, targeting health-conscious females in their 40s and 50s, alongside consumers favoring non-dairy options.

Key Companies

  • Bio Nutrients Pvt. Ltd.
  • The Granarolo Group
  • Vitasoy International Holdings Ltd.
  • American Soy Products, Inc.
  • Ecomil
  • NOW Health Group, Inc
  • Pureharvest
  • The Hain Celestial Group, Inc.
  • The Hershey Company
  • Pacific Foods of Oregon, LLC
  • The Bridge S.R.L
  • Natura Foods
  • Hiland Dairy
  • Danone Group

Key Coverage in the Soy Milk Market

  • Emerging Soy Milk Flavors
  • Ongoing Soy Milk Trends
  • Advantages of Soy Milk for Weight Loss
  • Overview of Coffee Flavored Soy Milk
  • Flavored soy milk brands in India

Key Segments Profiled in the Soy Milk Industry Survey

By Product Type:

  • Plain
  • Flavoured

By Category:

  • Organic
  • Conventional

By Application:

  • Ice Creams
  • Desserts
  • Cheese
  • Yoghurt
  • Other

By Distribution Channel:

  • Store-based (supermarkets & hypermarkets, convenience stores, others)
  • Non-store-based

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa (MEA)

Frequently Asked Questions

How Big is the Soy Milk Market Worth in 2024?

The market is expected to be worth USD 6,877.40 million in 2024.

What is the Sales Forecast for the Soy Milk through 2034?

The market is expected to reach USD 12,860.8 million by 2034.

At What rate is the Soy Milk Market Growing?

The market is developing at a CAGR of 8.70% from 2024 to 2034.

Which are the Key Companies in the Soy Milk Market?

Bio Nutrients Pvt. Ltd., The Granarolo Group, Vitasoy International Holdings Ltd., American Soy Products, Inc., Ecomil, NOW Health Group, Inc., Pureharvest, etc., are some of the major players in the market.

What was the overall Value of the Market in 2019?

The valuation for the market was USD 4,264 million in 2019.

Table of Content
1. Executive Summary
    1.1. Global Market Outlook
    1.2. Demand-side Trends
    1.3. Supply-side Trends
    1.4. Technology Roadmap Analysis
    1.5. Analysis and Recommendations
2. Market Overview
    2.1. Market Coverage / Taxonomy
    2.2. Market Definition / Scope / Limitations
3. Market Background
    3.1. Market Dynamics
        3.1.1. Drivers
        3.1.2. Restraints
        3.1.3. Opportunity
        3.1.4. Trends
    3.2. Scenario Forecast
        3.2.1. Demand in Optimistic Scenario
        3.2.2. Demand in Likely Scenario
        3.2.3. Demand in Conservative Scenario
    3.3. Opportunity Map Analysis
    3.4. Product Life Cycle Analysis
    3.5. Supply Chain Analysis
        3.5.1. Supply Side Participants and their Roles
            3.5.1.1. Producers
            3.5.1.2. Mid-Level Participants
            3.5.1.3. Distributors
        3.5.2. Value Added and Value Created at Node in the Supply Chain
        3.5.3. List of Raw Material Suppliers
        3.5.4. List of Existing and Potential Buyer’s
    3.6. Investment Feasibility Matrix
    3.7. Value Chain Analysis
        3.7.1. Profit Margin Analysis
        3.7.2. Distributors
        3.7.3. Retailers
    3.8. PESTLE and Porter’s Analysis
    3.9. Regulatory Landscape
        3.9.1. By Key Regions
        3.9.2. By Key Countries
    3.10. Regional Parent Market Outlook
    3.11. Production and Consumption Statistics
4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
    4.1. Historical Market Size Value (US$ Million) & Volume (Litre) Analysis, 2019 to 2023
    4.2. Current and Future Market Size Value (US$ Million) & Volume (Litre) Projections, 2024 to 2034
        4.2.1. Y-o-Y Growth Trend Analysis
        4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Nature
    5.1. Introduction / Key Findings
    5.2. Historical Market Size Value (US$ Million) & Volume (Litre) Analysis By Nature, 2019 to 2023
    5.3. Current and Future Market Size Value (US$ Million) & Volume (Litre) Analysis and Forecast By Nature, 2024 to 2034
        5.3.1. Organic
        5.3.2. Conventional
    5.4. Y-o-Y Growth Trend Analysis By Nature, 2019 to 2023
    5.5. Absolute $ Opportunity Analysis By Nature, 2024 to 2034
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use
    6.1. Introduction / Key Findings
    6.2. Historical Market Size Value (US$ Million) & Volume (Litre) Analysis By End Use, 2019 to 2023
    6.3. Current and Future Market Size Value (US$ Million) & Volume (Litre) Analysis and Forecast By End Use, 2024 to 2034
        6.3.1. Food & Beverage Industry
            6.3.1.1. Bakery & Confectionery
            6.3.1.2. Dairy & Desserts
            6.3.1.3. Infant Formula
        6.3.2. Retail/Household
        6.3.3. Foodservice Industry
    6.4. Y-o-Y Growth Trend Analysis By End Use, 2019 to 2023
    6.5. Absolute $ Opportunity Analysis By End Use, 2024 to 2034
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Distribution Channel
    7.1. Introduction / Key Findings
    7.2. Historical Market Size Value (US$ Million) & Volume (Litre) Analysis By Distribution Channel, 2019 to 2023
    7.3. Current and Future Market Size Value (US$ Million) & Volume (Litre) Analysis and Forecast By Distribution Channel, 2024 to 2034
        7.3.1. Business to Business
        7.3.2. Business to Consumer
            7.3.2.1. Hypermarkets/Supermarkets
            7.3.2.2. Convenience Stores
            7.3.2.3. Specialty Stores
            7.3.2.4. Online Retails
    7.4. Y-o-Y Growth Trend Analysis By Distribution Channel, 2019 to 2023
    7.5. Absolute $ Opportunity Analysis By Distribution Channel, 2024 to 2034
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
    8.1. Introduction
    8.2. Historical Market Size Value (US$ Million) & Volume (Litre) Analysis By Region, 2019 to 2023
    8.3. Current Market Size Value (US$ Million) & Volume (Litre) Analysis and Forecast By Region, 2024 to 2034
        8.3.1. North America
        8.3.2. Latin America
        8.3.3. Western Europe
        8.3.4. Eastern Europe
        8.3.5. South Asia and Pacific
        8.3.6. East Asia
        8.3.7. Middle East and Africa
    8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
    9.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2019 to 2023
    9.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2024 to 2034
        9.2.1. By Country
            9.2.1.1. USA
            9.2.1.2. Canada
        9.2.2. By Nature
        9.2.3. By End Use
        9.2.4. By Distribution Channel
    9.3. Market Attractiveness Analysis
        9.3.1. By Country
        9.3.2. By Nature
        9.3.3. By End Use
        9.3.4. By Distribution Channel
    9.4. Key Takeaways
10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
    10.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2019 to 2023
    10.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2024 to 2034
        10.2.1. By Country
            10.2.1.1. Brazil
            10.2.1.2. Mexico
            10.2.1.3. Rest of Latin America
        10.2.2. By Nature
        10.2.3. By End Use
        10.2.4. By Distribution Channel
    10.3. Market Attractiveness Analysis
        10.3.1. By Country
        10.3.2. By Nature
        10.3.3. By End Use
        10.3.4. By Distribution Channel
    10.4. Key Takeaways
11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
    11.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2019 to 2023
    11.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2024 to 2034
        11.2.1. By Country
            11.2.1.1. Germany
            11.2.1.2. UK
            11.2.1.3. France
            11.2.1.4. Spain
            11.2.1.5. Italy
            11.2.1.6. Rest of Western Europe
        11.2.2. By Nature
        11.2.3. By End Use
        11.2.4. By Distribution Channel
    11.3. Market Attractiveness Analysis
        11.3.1. By Country
        11.3.2. By Nature
        11.3.3. By End Use
        11.3.4. By Distribution Channel
    11.4. Key Takeaways
12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
    12.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2019 to 2023
    12.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2024 to 2034
        12.2.1. By Country
            12.2.1.1. Poland
            12.2.1.2. Russia
            12.2.1.3. Czech Republic
            12.2.1.4. Romania
            12.2.1.5. Rest of Eastern Europe
        12.2.2. By Nature
        12.2.3. By End Use
        12.2.4. By Distribution Channel
    12.3. Market Attractiveness Analysis
        12.3.1. By Country
        12.3.2. By Nature
        12.3.3. By End Use
        12.3.4. By Distribution Channel
    12.4. Key Takeaways
13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
    13.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2019 to 2023
    13.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2024 to 2034
        13.2.1. By Country
            13.2.1.1. India
            13.2.1.2. Bangladesh
            13.2.1.3. Australia
            13.2.1.4. New Zealand
            13.2.1.5. Rest of South Asia and Pacific
        13.2.2. By Nature
        13.2.3. By End Use
        13.2.4. By Distribution Channel
    13.3. Market Attractiveness Analysis
        13.3.1. By Country
        13.3.2. By Nature
        13.3.3. By End Use
        13.3.4. By Distribution Channel
    13.4. Key Takeaways
14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
    14.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2019 to 2023
    14.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2024 to 2034
        14.2.1. By Country
            14.2.1.1. China
            14.2.1.2. Japan
            14.2.1.3. South Korea
        14.2.2. By Nature
        14.2.3. By End Use
        14.2.4. By Distribution Channel
    14.3. Market Attractiveness Analysis
        14.3.1. By Country
        14.3.2. By Nature
        14.3.3. By End Use
        14.3.4. By Distribution Channel
    14.4. Key Takeaways
15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
    15.1. Historical Market Size Value (US$ Million) & Volume (Litre) Trend Analysis By Market Taxonomy, 2019 to 2023
    15.2. Market Size Value (US$ Million) & Volume (Litre) Forecast By Market Taxonomy, 2024 to 2034
        15.2.1. By Country
            15.2.1.1. GCC Countries
            15.2.1.2. South Africa
            15.2.1.3. Israel
            15.2.1.4. Rest of MEA
        15.2.2. By Nature
        15.2.3. By End Use
        15.2.4. By Distribution Channel
    15.3. Market Attractiveness Analysis
        15.3.1. By Country
        15.3.2. By Nature
        15.3.3. By End Use
        15.3.4. By Distribution Channel
    15.4. Key Takeaways
16. Key Countries Market Analysis
    16.1. USA
        16.1.1. Pricing Analysis
        16.1.2. Market Share Analysis, 2023
            16.1.2.1. By Nature
            16.1.2.2. By End Use
            16.1.2.3. By Distribution Channel
    16.2. Canada
        16.2.1. Pricing Analysis
        16.2.2. Market Share Analysis, 2023
            16.2.2.1. By Nature
            16.2.2.2. By End Use
            16.2.2.3. By Distribution Channel
    16.3. Brazil
        16.3.1. Pricing Analysis
        16.3.2. Market Share Analysis, 2023
            16.3.2.1. By Nature
            16.3.2.2. By End Use
            16.3.2.3. By Distribution Channel
    16.4. Mexico
        16.4.1. Pricing Analysis
        16.4.2. Market Share Analysis, 2023
            16.4.2.1. By Nature
            16.4.2.2. By End Use
            16.4.2.3. By Distribution Channel
    16.5. Germany
        16.5.1. Pricing Analysis
        16.5.2. Market Share Analysis, 2023
            16.5.2.1. By Nature
            16.5.2.2. By End Use
            16.5.2.3. By Distribution Channel
    16.6. UK
        16.6.1. Pricing Analysis
        16.6.2. Market Share Analysis, 2023
            16.6.2.1. By Nature
            16.6.2.2. By End Use
            16.6.2.3. By Distribution Channel
    16.7. France
        16.7.1. Pricing Analysis
        16.7.2. Market Share Analysis, 2023
            16.7.2.1. By Nature
            16.7.2.2. By End Use
            16.7.2.3. By Distribution Channel
    16.8. Spain
        16.8.1. Pricing Analysis
        16.8.2. Market Share Analysis, 2023
            16.8.2.1. By Nature
            16.8.2.2. By End Use
            16.8.2.3. By Distribution Channel
    16.9. Italy
        16.9.1. Pricing Analysis
        16.9.2. Market Share Analysis, 2023
            16.9.2.1. By Nature
            16.9.2.2. By End Use
            16.9.2.3. By Distribution Channel
    16.10. Poland
        16.10.1. Pricing Analysis
        16.10.2. Market Share Analysis, 2023
            16.10.2.1. By Nature
            16.10.2.2. By End Use
            16.10.2.3. By Distribution Channel
    16.11. Russia
        16.11.1. Pricing Analysis
        16.11.2. Market Share Analysis, 2023
            16.11.2.1. By Nature
            16.11.2.2. By End Use
            16.11.2.3. By Distribution Channel
    16.12. Czech Republic
        16.12.1. Pricing Analysis
        16.12.2. Market Share Analysis, 2023
            16.12.2.1. By Nature
            16.12.2.2. By End Use
            16.12.2.3. By Distribution Channel
    16.13. Romania
        16.13.1. Pricing Analysis
        16.13.2. Market Share Analysis, 2023
            16.13.2.1. By Nature
            16.13.2.2. By End Use
            16.13.2.3. By Distribution Channel
    16.14. India
        16.14.1. Pricing Analysis
        16.14.2. Market Share Analysis, 2023
            16.14.2.1. By Nature
            16.14.2.2. By End Use
            16.14.2.3. By Distribution Channel
    16.15. Bangladesh
        16.15.1. Pricing Analysis
        16.15.2. Market Share Analysis, 2023
            16.15.2.1. By Nature
            16.15.2.2. By End Use
            16.15.2.3. By Distribution Channel
    16.16. Australia
        16.16.1. Pricing Analysis
        16.16.2. Market Share Analysis, 2023
            16.16.2.1. By Nature
            16.16.2.2. By End Use
            16.16.2.3. By Distribution Channel
    16.17. New Zealand
        16.17.1. Pricing Analysis
        16.17.2. Market Share Analysis, 2023
            16.17.2.1. By Nature
            16.17.2.2. By End Use
            16.17.2.3. By Distribution Channel
    16.18. China
        16.18.1. Pricing Analysis
        16.18.2. Market Share Analysis, 2023
            16.18.2.1. By Nature
            16.18.2.2. By End Use
            16.18.2.3. By Distribution Channel
    16.19. Japan
        16.19.1. Pricing Analysis
        16.19.2. Market Share Analysis, 2023
            16.19.2.1. By Nature
            16.19.2.2. By End Use
            16.19.2.3. By Distribution Channel
    16.20. South Korea
        16.20.1. Pricing Analysis
        16.20.2. Market Share Analysis, 2023
            16.20.2.1. By Nature
            16.20.2.2. By End Use
            16.20.2.3. By Distribution Channel
    16.21. GCC Countries
        16.21.1. Pricing Analysis
        16.21.2. Market Share Analysis, 2023
            16.21.2.1. By Nature
            16.21.2.2. By End Use
            16.21.2.3. By Distribution Channel
    16.22. South Africa
        16.22.1. Pricing Analysis
        16.22.2. Market Share Analysis, 2023
            16.22.2.1. By Nature
            16.22.2.2. By End Use
            16.22.2.3. By Distribution Channel
    16.23. Israel
        16.23.1. Pricing Analysis
        16.23.2. Market Share Analysis, 2023
            16.23.2.1. By Nature
            16.23.2.2. By End Use
            16.23.2.3. By Distribution Channel
17. Market Structure Analysis
    17.1. Competition Dashboard
    17.2. Competition Benchmarking
    17.3. Market Share Analysis of Top Players
        17.3.1. By Regional
        17.3.2. By Nature
        17.3.3. By End Use
        17.3.4. By Distribution Channel
18. Competition Analysis
    18.1. Competition Deep Dive
        18.1.1. Bio Nutrients Pvt. Ltd.
            18.1.1.1. Overview
            18.1.1.2. Product Portfolio
            18.1.1.3. Profitability by Market Segments
            18.1.1.4. Sales Footprint
            18.1.1.5. Strategy Overview
                18.1.1.5.1. Marketing Strategy
                18.1.1.5.2. Product Strategy
                18.1.1.5.3. Channel Strategy
        18.1.2. The Granarolo Group
            18.1.2.1. Overview
            18.1.2.2. Product Portfolio
            18.1.2.3. Profitability by Market Segments
            18.1.2.4. Sales Footprint
            18.1.2.5. Strategy Overview
                18.1.2.5.1. Marketing Strategy
                18.1.2.5.2. Product Strategy
                18.1.2.5.3. Channel Strategy
        18.1.3. Vitasoy International Holdings Ltd.
            18.1.3.1. Overview
            18.1.3.2. Product Portfolio
            18.1.3.3. Profitability by Market Segments
            18.1.3.4. Sales Footprint
            18.1.3.5. Strategy Overview
                18.1.3.5.1. Marketing Strategy
                18.1.3.5.2. Product Strategy
                18.1.3.5.3. Channel Strategy
        18.1.4. American Soy Products, Inc.
            18.1.4.1. Overview
            18.1.4.2. Product Portfolio
            18.1.4.3. Profitability by Market Segments
            18.1.4.4. Sales Footprint
            18.1.4.5. Strategy Overview
                18.1.4.5.1. Marketing Strategy
                18.1.4.5.2. Product Strategy
                18.1.4.5.3. Channel Strategy
        18.1.5. Ecomil
            18.1.5.1. Overview
            18.1.5.2. Product Portfolio
            18.1.5.3. Profitability by Market Segments
            18.1.5.4. Sales Footprint
            18.1.5.5. Strategy Overview
                18.1.5.5.1. Marketing Strategy
                18.1.5.5.2. Product Strategy
                18.1.5.5.3. Channel Strategy
        18.1.6. NOW Health Group, Inc
            18.1.6.1. Overview
            18.1.6.2. Product Portfolio
            18.1.6.3. Profitability by Market Segments
            18.1.6.4. Sales Footprint
            18.1.6.5. Strategy Overview
                18.1.6.5.1. Marketing Strategy
                18.1.6.5.2. Product Strategy
                18.1.6.5.3. Channel Strategy
        18.1.7. Pureharvest
            18.1.7.1. Overview
            18.1.7.2. Product Portfolio
            18.1.7.3. Profitability by Market Segments
            18.1.7.4. Sales Footprint
            18.1.7.5. Strategy Overview
                18.1.7.5.1. Marketing Strategy
                18.1.7.5.2. Product Strategy
                18.1.7.5.3. Channel Strategy
        18.1.8. The Hain Celestial Group, Inc.
            18.1.8.1. Overview
            18.1.8.2. Product Portfolio
            18.1.8.3. Profitability by Market Segments
            18.1.8.4. Sales Footprint
            18.1.8.5. Strategy Overview
                18.1.8.5.1. Marketing Strategy
                18.1.8.5.2. Product Strategy
                18.1.8.5.3. Channel Strategy
        18.1.9. The Hershey Company
            18.1.9.1. Overview
            18.1.9.2. Product Portfolio
            18.1.9.3. Profitability by Market Segments
            18.1.9.4. Sales Footprint
            18.1.9.5. Strategy Overview
                18.1.9.5.1. Marketing Strategy
                18.1.9.5.2. Product Strategy
                18.1.9.5.3. Channel Strategy
        18.1.10. Pacific Foods of Oregon, LLC
            18.1.10.1. Overview
            18.1.10.2. Product Portfolio
            18.1.10.3. Profitability by Market Segments
            18.1.10.4. Sales Footprint
            18.1.10.5. Strategy Overview
                18.1.10.5.1. Marketing Strategy
                18.1.10.5.2. Product Strategy
                18.1.10.5.3. Channel Strategy
        18.1.11. The Bridge S.R.L
            18.1.11.1. Overview
            18.1.11.2. Product Portfolio
            18.1.11.3. Profitability by Market Segments
            18.1.11.4. Sales Footprint
            18.1.11.5. Strategy Overview
                18.1.11.5.1. Marketing Strategy
                18.1.11.5.2. Product Strategy
                18.1.11.5.3. Channel Strategy
        18.1.12. Natura Foods
            18.1.12.1. Overview
            18.1.12.2. Product Portfolio
            18.1.12.3. Profitability by Market Segments
            18.1.12.4. Sales Footprint
            18.1.12.5. Strategy Overview
                18.1.12.5.1. Marketing Strategy
                18.1.12.5.2. Product Strategy
                18.1.12.5.3. Channel Strategy
        18.1.13. Hiland Dairy
            18.1.13.1. Overview
            18.1.13.2. Product Portfolio
            18.1.13.3. Profitability by Market Segments
            18.1.13.4. Sales Footprint
            18.1.13.5. Strategy Overview
                18.1.13.5.1. Marketing Strategy
                18.1.13.5.2. Product Strategy
                18.1.13.5.3. Channel Strategy
        18.1.14. Danone Group
            18.1.14.1. Overview
            18.1.14.2. Product Portfolio
            18.1.14.3. Profitability by Market Segments
            18.1.14.4. Sales Footprint
            18.1.14.5. Strategy Overview
                18.1.14.5.1. Marketing Strategy
                18.1.14.5.2. Product Strategy
                18.1.14.5.3. Channel Strategy
19. Assumptions & Acronyms Used
20. Research Methodology
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