PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1466196
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1466196
India Soy Milk Market, By Flavor; By Product Type; By Distribution Channel; By Region, Trend Analysis, Competitive Landscape & Forecast, 2019-2030
India Soy Milk Market Size by Value More Than Doubles at CAGR of 7.74% to Touch USD 74 Million by 2030
India Soy Milk Market is flourishing due to the rising health awareness, growing vegan and lactose-intolerant population, rapid urbanization and changing lifestyles, and rising disposable income.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India Soy Milk Market size by value at USD 34.28 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Soy Milk Market size to expand at a CAGR of 7.74% reaching a value of USD 73.88 million by 2030. The Soy Milk Market in India is propelled by the rising demand from consumers seeking non-dairy alternatives. Technological advancements in food production and the introduction of new soybean varieties have led to the creation of diverse flavors, enhancing competition with traditional dairy products.
By volume, BlueWeave estimated the India Soy Milk Market size at 46.1 million liters in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Soy Milk Market size by volume is projected to grow at a CAGR of 8.09% reaching the volume of 49.3 million liters by 2030. The India Soy Milk Market is driven by the health benefits associated with soy milk, including reduced cholesterol and the potential to lower the risk of heart disease, which resonates with health-conscious consumers. Also, the growing awareness of soy-based products among consumers is expected to drive the market over the forecast period.
Opportunities - Increasing focus on sustainability
An increasing emphasis on sustainability is driving the surge in consumption of plant-based milk worldwide. Derived from sources like almonds, soy, and oats, plant-based milk offers a dairy-free, protein-rich alternative aligned with the preferences of vegans, lactose intolerant individuals, and flexitarians. It addresses concerns regarding animal welfare, resource efficiency, and climate change, appealing to a growing population increasingly conscious of health and environmental impacts. This shift in consumer behavior, fueled by awareness of the benefits of plant-based diets and the environmental toll of traditional dairy farming, underscores the rising demand for sustainable food options. As a result, plant-based milk products are gaining traction, supported by their lower greenhouse gas emissions and reduced land and water requirements compared to conventional dairy production methods.
Impact of Escalating Geopolitical Tensions on India Soy Milk Market
Geopolitical tensions can have a multifaceted impact on the India Soy Milk Market. Increased uncertainty may disrupt the supply chain, leading to shortages of soybeans or soy milk production materials. Trade restrictions or tariffs imposed due to geopolitical conflicts can elevate costs, affecting pricing for consumers. Moreover, if tensions persist, foreign investments and collaborations vital for market expansion may dwindle, hindering growth prospects. Consumer confidence may also wane amid geopolitical instabilities, impacting purchasing decisions. Overall, escalating tensions can destabilize the India Soy Milk Market, causing disruptions in supply, pricing, and growth trajectories.
India Soy Milk Market
Segmental Coverage
India Soy Milk Market - By Distribution Channel
Based on distribution channel, the India Soy Milk Market is divided into Supermarkets/Hypermarkets, Pharmacies, Retail Stores, and Convenience Stores segments. The supermarkets/hypermarkets segment holds the highest share in the India Soy Milk Market by distribution channel. India's retail landscape has witnessed a surge in organized stores like supermarkets and hypermarkets, offering a comprehensive shopping experience. Soymilks are typically found in refrigerated sections or aseptic packaging, benefiting from the superior storage conditions in these outlets. Supermarkets and hypermarkets continually innovate to bolster sales, employing strategies like discounts, product presentation enhancements, and promotional materials.
India Soy Milk Market - By Region
Geographically, the India Soy Milk Market is divided into North India, South India, East India, and West India regions. Madhya Pradesh, Maharashtra, and Rajasthan lead soybean production, hosting most processing units. Approximately 85% of the country's soybeans undergo processing for value-added products, with Rajasthan alone accounting for 20%. While Rajasthan boasts over 60 processing units, most focus on oil, de-oiled cake, and lecithin, with only a few dedicated to value-added goods production. However, rising consumer awareness about the benefits of soybean is driving an increased demand for soy milk and other soy-derived products.
Competitive Landscape
The India Soy Milk Market is fragmented, with numerous players serving the market. The key players dominating the India Soy Milk Market include Pacific Foods Of Oregon LLC, NESTLE, pearl soymilk, Danone, Sanitarium, Urban Platter Soya Milk Powder, and Midas Soy. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the India Soy Milk Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the India Soy Milk Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. India Soy Milk Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Rising Health Awareness
- 3.2.1.2. Increasing Vegan and Lactose-Intolerant Population
- 3.2.1.3. Urbanization and Changing Lifestyles
- 3.2.1.4. Rising Disposable Income
- 3.2.2. Restraints
- 3.2.2.1. Price Sensitivity of Consumers
- 3.2.2.2. Competition from other Plant-Based Miks
- 3.2.2.3. Limited Cold Chain Infrastructure
- 3.2.3. Opportunities
- 3.2.3.1. Increasing focus on Sustainability
- 3.2.3.2. Product Development
- 3.2.4. Challenges
- 3.2.4.1. Creating Brand Awareness
- 3.2.4.2. Overcoming Negative Perceptions
- 3.2.1. Growth Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. India Soy Milk Market, Pricing Analysis
5. India Soy Milk Market: Marketing Strategies
6. India Soy Milk Market Overview
- 6.1. Market Size & Forecast, 2019-2030
- 6.1.1. By Value (USD Million)
- 6.2. Market Share & Forecast
- 6.2.1. By Flavor
- 6.2.1.1. Flavored
- 6.2.1.2. Plain/Unflavored
- 6.2.2. By Product Type
- 6.2.2.1. Soy Milk
- 6.2.2.2. Soy-based Drinkable Yogurt
- 6.2.3. By Distribution Channel
- 6.2.3.1. Supermarkets/Hypermarkets
- 6.2.3.2. Pharmacy
- 6.2.3.3. Retail Stores
- 6.2.3.4. Convenience Stores
- 6.2.3.5. Others
- 6.2.4. By Region
- 6.2.4.1. North India
- 6.2.4.2. South India
- 6.2.4.3. East India
- 6.2.4.4. West India
- 6.2.1. By Flavor
7. North India Soy Milk Market
- 7.1. Market Size & Forecast, 2019-2030
- 7.1.1. By Value (USD Million)
- 7.2. Market Share & Forecast
- 7.2.1. By Flavor
- 7.2.2. By Product Type
- 7.2.3. By Distribution Channel
8. South India Soy Milk Market
- 8.1. Market Size & Forecast, 2019-2030
- 8.2. By Value (USD Million)
- 8.3. Market Share & Forecast
- 8.3.1. By Flavor
- 8.3.2. By Product Type
- 8.3.3. By Distribution Channel
9. East India Soy Milk Market
- 9.1. Market Size & Forecast, 2019-2030
- 9.2. By Value (USD Million)
- 9.3. Market Share & Forecast
- 9.3.1. By Flavor
- 9.3.2. By Product Type
- 9.3.3. By Distribution Channel
10. West India Soy Milk Market
- 10.1. Market Size & Forecast, 2019-2030
- 10.1.1. By Value (USD Million)
- 10.2. Market Share & Forecast
- 10.2.1. By Flavor
- 10.2.2. By Product Type
- 10.2.3. By Distribution Channel
11. Competitive Landscape
- 11.1. List of Key Players and Their Offerings
- 11.2. India Soy Milk Company Market Share Analysis, 2023
- 11.3. Competitive Benchmarking, By Operating Parameters
- 11.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
12. India Soy Milk Market: Import & Export
13. India Soy Milk Market: Consumer Behavior Analysis
14. Impact of Escalating Geopolitical Tensions on India Soy Milk Market
15. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- 15.1. Pacific Foods Of Oregon, Llc.
- 15.2. NESTLE
- 15.3. pearl soymilk
- 15.4. Danone
- 15.5. Sanitarium
- 15.6. Urban Platter Soya Milk Powder
- 15.7. Midas Soy
- 15.8. Other Prominent Players
16. Key Strategic Recommendations
17. Research Methodology
- 17.1. Qualitative Research
- 17.1.1. Primary & Secondary Research
- 17.2. Quantitative Research
- 17.3. Market Breakdown & Data Triangulation
- 17.3.1. Secondary Research
- 17.3.2. Primary Research
- 17.4. Breakdown of Primary Research Respondents, By Region
- 17.5. Assumptions & Limitations
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
- Figure 1 India Soy Milk Segmentation
- Figure 2 India Soy Milk Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2023
- Figure 4 India Soy Milk Market Size, By Value (USD Million), 2019-2030
- Figure 5 India Soy Milk Market Share, By Flavor, By Value, 2019-2030
- Figure 6 India Soy Milk Market Share, By Product Type, By Value, 2019-2030
- Figure 7 India Soy Milk Market Share, By Distribution Channel, By Value, 2019-2030
- Figure 8 India Soy Milk Market Share, By Region, By Value, 2019-2030
- Figure 9 North India Soy Milk Market Size, By Value (USD Million), 2019-2030
- Figure 10 North India Soy Milk Market Share, By Flavor, By Value, 2019-2030
- Figure 11 North India Soy Milk Market Share, By Product Type, By Value, 2019-2030
- Figure 12 North India Soy Milk Market Share, By Distribution Channel, By Value, 2019-2030
- Figure 13 South India Soy Milk Market Size, By Value (USD Million), 2019-2030
- Figure 14 South India Soy Milk Market Share, By Flavor, By Value, 2019-2030
- Figure 15 South India Soy Milk Market Share, By Product Type, By Value, 2019-2030
- Figure 16 South India Soy Milk Market Share, By Distribution Channel, By Value, 2019-2030
- Figure 17 East India Soy Milk Market Size, By Value (USD Million), 2019-2030
- Figure 18 East India Soy Milk Market Share, By Flavor, By Value, 2019-2030
- Figure 19 East India Soy Milk Market Share, By Product Type, By Value, 2019-2030
- Figure 20 East India Soy Milk Market Share, By Distribution Channel, By Value, 2019-2030
- Figure 21 South India Soy Milk Market Size, By Value (USD Million), 2019-2030
- Figure 22 South India Soy Milk Market Share, By Flavor, By Value, 2019-2030
- Figure 23 South India Soy Milk Market Share, By Product Type, By Value, 2019-2030
- Figure 24 South India Soy Milk Market Share, By Distribution Channel, By Value, 2019-2030
- Figure 25 West India Soy Milk Market Size, By Value (USD Million), 2019-2030
- Figure 26 West India Soy Milk Market Share, By Flavor, By Value, 2019-2030
- Figure 27 West India Soy Milk Market Share, By Product Type, By Value, 2019-2030
- Figure 28 West India Soy Milk Market Share, By Distribution Channel, By Value, 2019-2030
List of Tables
- Table 1 India Soy Milk Segmentation
- Table 2 India Soy Milk Market Value Chain Analysis
- Table 3 Company Market Size Analysis, 2023
- Table 4 India Soy Milk Market Size, By Value (USD Million), 2019-2030
- Table 5 India Soy Milk Market Share, By Flavor, By Value, 2019-2030
- Table 6 India Soy Milk Market Share, By Product Type, By Value, 2019-2030
- Table 7 India Soy Milk Market Share, By Distribution Channel, By Value, 2019-2030
- Table 8 India Soy Milk Market Share, By Region, By Value, 2019-2030
- Table 9 North India Soy Milk Market Size, By Value (USD Million), 2019-2030
- Table 10 North India Soy Milk Market Share, By Flavor, By Value, 2019-2030
- Table 11 North India Soy Milk Market Share, By Product Type, By Value, 2019-2030
- Table 12 North India Soy Milk Market Share, By Distribution Channel, By Value, 2019-2030
- Table 13 South India Soy Milk Market Size, By Value (USD Million), 2019-2030
- Table 14 South India Soy Milk Market Share, By Flavor, By Value, 2019-2030
- Table 15 South India Soy Milk Market Share, By Product Type, By Value, 2019-2030
- Table 16 South India Soy Milk Market Share, By Distribution Channel, By Value, 2019-2030
- Table 17 East India Soy Milk Market Size, By Value (USD Million), 2019-2030
- Table 18 East India Soy Milk Market Share, By Flavor, By Value, 2019-2030
- Table 19 East India Soy Milk Market Share, By Product Type, By Value, 2019-2030
- Table 20 East India Soy Milk Market Share, By Distribution Channel, By Value, 2019-2030
- Table 21 South India Soy Milk Market Size, By Value (USD Million), 2019-2030
- Table 22 South India Soy Milk Market Share, By Flavor, By Value, 2019-2030
- Table 23 South India Soy Milk Market Share, By Product Type, By Value, 2019-2030
- Table 24 South India Soy Milk Market Share, By Distribution Channel, By Value, 2019-2030
- Table 25 West India Soy Milk Market Size, By Value (USD Million), 2019-2030
- Table 26 West India Soy Milk Market Share, By Flavor, By Value, 2019-2030
- Table 27 West India Soy Milk Market Share, By Product Type, By Value, 2019-2030
- Table 28 West India Soy Milk Market Share, By Distribution Channel, By Value, 2019-2030
- Table 29 Pacific Foods Of Oregon, Llc. Company Overview
- Table 30 Pacific Foods Of Oregon, Llc. Financial Overview
- Table 31 NESTLE Company Overview
- Table 32 NESTLE Financial Overview
- Table 33 pearl soymilk Company Over view
- Table 34 pearl soymilk Financial Overview
- Table 35 Danone Company Overview
- Table 36 Danone Financial Overview
- Table 37 Sanitarium Company Overview
- Table 38 Sanitarium Financial Overview
- Table 39 Urban Platter Soya Milk Powder Company Overview
- Table 40 Urban Platter Soya Milk Powder Financial Overview
- Table 41 Midas Soy Company Overview
- Table 42 Midas Soy Financial Overview
