Soy Milk Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2025

Description

Persistence Market Research has recently released a comprehensive report on the global Soy Milk Market, providing an in-depth analysis of key market dynamics, including driving forces, emerging trends, opportunities, and challenges. This report offers a detailed understanding of the market landscape, helping stakeholders make well-informed decisions.

Key Insights:

Soy Milk Market Size (2025E): USD 6,646.8 Mn
Projected Market Value (2032F): USD 21,938.4 Mn
Global Market Growth Rate (CAGR 2025 to 2032): 18.60%

Soy Milk Market - Report Scope:

The soy milk market encompasses plant-based dairy alternatives derived from soybeans. As a rich source of protein, soy milk serves as a popular choice among consumers seeking lactose-free and vegan-friendly milk substitutes. The market is driven by increasing health consciousness, rising lactose intolerance cases, and growing demand for plant-based food products. The expansion of dairy-free diets and sustainable food consumption trends further contribute to the market's rapid growth.

Market Growth Drivers:

Several key factors are driving the global soy milk market's expansion. The increasing preference for plant-based diets due to ethical, environmental, and health considerations has significantly boosted soy milk consumption. Rising cases of lactose intolerance and milk allergies have led to a surge in demand for dairy alternatives. Additionally, growing investments in plant-based food innovations, along with product diversification such as flavored soy milk options, are supporting market growth. The expansion of e-commerce platforms and online retail has further enhanced product accessibility, fueling market expansion.

Market Restraints:

Despite strong growth potential, the soy milk market faces several challenges. The presence of alternative plant-based milk options, such as almond, oat, and coconut milk, intensifies market competition. Additionally, concerns over genetically modified soybeans and fluctuating raw material prices impact product acceptance and production costs. Limited consumer awareness about the nutritional differences between soy milk and traditional dairy products may also hinder market growth in certain regions.

Market Opportunities:

The soy milk market presents significant growth opportunities driven by increasing innovation in product formulations, such as organic and fortified soy milk variants. The rise in veganism and demand for clean-label products offer manufacturers opportunities to expand their organic soy milk offerings. Partnerships with foodservice providers, supermarkets, and convenience stores can enhance distribution and consumer reach. Additionally, emerging markets in Asia, Latin America, and the Middle East offer untapped potential due to increasing urbanization and changing dietary preferences.

Key Questions Answered in the Report:

What are the primary factors driving the global soy milk market's growth?
Which regions and market segments are experiencing the highest demand for soy milk?
How are innovations in plant-based milk products influencing market dynamics?
Who are the key players in the soy milk market, and what strategies are they adopting to stay competitive?
What are the emerging trends and future projections for the global soy milk market?

Competitive Intelligence and Business Strategy:

Leading companies in the global soy milk market, such as Pacific Foods, The Hain Celestial Group, Inc., and Natura Foods, are investing in product innovation, sustainability, and strategic partnerships to maintain their market presence. These companies are expanding their organic and non-GMO soy milk product lines while strengthening their distribution networks through supermarkets, specialty stores, and online retail platforms. Collaborations with foodservice providers and advancements in dairy-free product formulations help brands stay competitive. The emphasis on clean-label, fortified, and flavored soy milk products further contributes to market differentiation.

Key Companies Profiled:

Pacific Foods
The Hain Celestial Group, Inc.
Natura Foods
Hiland Dairy
Ecomil
NOW Health Group, Inc.
The Bridge S.R.L
Pure Harvest
The Hershey Company

Global Soy Milk Market Segmentation:

By Product Type:

Plain
Flavored

By Category:

Organic
Conventional

By End Use:

Food & Beverage Industry
Retail/Household
Foodservice Industry

By Distribution Channel:

Business to Business
Business to Consumer

By Region:

North America
Europe
East Asia
South Asia and Oceania
Latin America
Middle East & Africa

Product Code: PMRREP32165

1. Executive Summary

1.1. Global Soy Milk Market Snapshot, 2025 and 2032
1.2. Market Opportunity Assessment, 2025-2032, US$ Mn
1.3. Key Market Trends
1.4. Future Market Projections
1.5. Premium Market Insights
1.6. Industry Developments and Key Market Events
1.7. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definition
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
2.3. COVID-19 Impact Analysis
2.4. Forecast Factors - Relevance and Impact

3. Value Added Insights

3.1. Value Chain Analysis
3.2. Product Adoption / Usage Analysis
3.3. Key Market Players
3.4. Regulatory Landscape
3.5. PESTLE Analysis
3.6. Porter's Five Force Analysis
3.7. Consumer Behavior Analysis

4. Price Trend Analysis, 2019-2032

4.1. Key Factors Impacting Product Prices
4.2. Pricing Analysis, By Product Type
4.3. Regional Prices and Product Preferences

5. Global Soy Milk Market Outlook

5.1. Key Highlights
- 5.1.1. Market Volume (Kiloliter) Projections
- 5.1.2. Market Size (US$ Mn) and Y-o-Y Growth
- 5.1.3. Absolute $ Opportunity
5.2. Market Size (US$ Mn) Analysis and Forecast
- 5.2.1. Historical Market Size (US$ Mn) Analysis, 2019-2024
- 5.2.2. Current Market Size (US$ Mn) Analysis and Forecast, 2025-2032
5.3. Global Soy Milk Market Outlook: Product Type
- 5.3.1. Historical Market Size (US$ Mn) and Volume (Kiloliter) Analysis, By Product Type, 2019-2024
- 5.3.2. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Product Type, 2025-2032
  - 5.3.2.1. Plain
  - 5.3.2.2. Flavored
- 5.3.3. Market Attractiveness Analysis: Product Type
5.4. Global Soy Milk Market Outlook: Category
- 5.4.1. Historical Market Size (US$ Mn) and Volume (Kiloliter) Analysis, By Category, 2019-2024
- 5.4.2. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Category, 2025-2032
  - 5.4.2.1. Organic
  - 5.4.2.2. Conventional
- 5.4.3. Market Attractiveness Analysis: Category
5.5. Global Soy Milk Market Outlook: End Use
- 5.5.1. Historical Market Size (US$ Mn) and Volume (Kiloliter) Analysis, By End Use, 2019-2024
- 5.5.2. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By End Use, 2025-2032
  - 5.5.2.1. Food & Beverage Industry
    - 5.5.2.1.1. Bakery & Confectionery
    - 5.5.2.1.2. Dairy & Desserts
    - 5.5.2.1.3. Infant End Formula
  - 5.5.2.2. Retail/Household
  - 5.5.2.3. Foodservice Industry
- 5.5.3. Market Attractiveness Analysis: End Use
5.6. Global Soy Milk Market Outlook: Distribution Channel
- 5.6.1. Historical Market Size (US$ Mn) and Volume (Kiloliter) Analysis, By Distribution Channel, 2019-2024
- 5.6.2. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Distribution Channel, 2025-2032
  - 5.6.2.1. Business to Business
  - 5.6.2.2. Business to Consumer
    - 5.6.2.2.1. Hypermarkets/Supermarkets
    - 5.6.2.2.2. Convenience Stores
    - 5.6.2.2.3. Specialty Stores
    - 5.6.2.2.4. Online Retail
    - 5.6.2.2.5. Others
- 5.6.3. Market Attractiveness Analysis: Distribution Channel

6. Global Soy Milk Market Outlook: Region

6.1. Historical Market Size (US$ Mn) and Volume (Kiloliter) Analysis, By Region, 2019-2024
6.2. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Region, 2025-2032
- 6.2.1. North America
- 6.2.2. Latin America
- 6.2.3. Europe
- 6.2.4. East Asia
- 6.2.5. South Asia and Oceania
- 6.2.6. Middle East & Africa
6.3. Market Attractiveness Analysis: Region

7. North America Soy Milk Market Outlook

7.1. Historical Market Size (US$ Mn) and Volume (Kiloliter) Analysis, By Market, 2019-2024
- 7.1.1. By Country
- 7.1.2. By Product Type
- 7.1.3. By Category
- 7.1.4. By End Use
- 7.1.5. By Distribution Channel
7.2. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Country, 2025-2032
- 7.2.1. U.S.
- 7.2.2. Canada
7.3. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Product Type, 2025-2032
- 7.3.1. Plain
- 7.3.2. Flavored
7.4. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Category, 2025-2032
- 7.4.1. Organic
- 7.4.2. Conventional
7.5. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By End Use, 2025-2032
- 7.5.1. Food & Beverage Industry
  - 7.5.1.1. Bakery & Confectionery
  - 7.5.1.2. Dairy & Desserts
  - 7.5.1.3. Infant Formula
- 7.5.2. Retail/Household
- 7.5.3. Foodservice Industry
7.6. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Distribution Channel, 2025-2032
- 7.6.1. Business to Business
- 7.6.2. Business to Consumer
  - 7.6.2.1. Hypermarkets/Supermarkets
  - 7.6.2.2. Convenience Stores
  - 7.6.2.3. Specialty Stores
  - 7.6.2.4. Online Retail
  - 7.6.2.5. Others
7.7. Market Attractiveness Analysis

8. Europe Soy Milk Market Outlook

8.1. Historical Market Size (US$ Mn) and Volume (Kiloliter) Analysis, By Market, 2019-2024
- 8.1.1. By Country
- 8.1.2. By Product Type
- 8.1.3. By Category
- 8.1.4. By End Use
- 8.1.5. By Distribution Channel
8.2. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Country, 2025-2032
- 8.2.1. Germany
- 8.2.2. France
- 8.2.3. U.K.
- 8.2.4. Italy
- 8.2.5. Spain
- 8.2.6. Russia
- 8.2.7. Rest of Europe
8.3. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Product Type, 2025-2032
- 8.3.1. Plain
- 8.3.2. Flavored
8.4. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Category, 2025-2032
- 8.4.1. Organic
- 8.4.2. Conventional
8.5. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By End Use, 2025-2032
- 8.5.1. Food & Beverage Industry
  - 8.5.1.1. Bakery & Confectionery
  - 8.5.1.2. Dairy & Desserts
  - 8.5.1.3. Infant Formula
- 8.5.2. Retail/Household
- 8.5.3. Foodservice Industry
8.6. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Distribution Channel, 2025-2032
- 8.6.1. Business to Business
- 8.6.2. Business to Consumer
  - 8.6.2.1. Hypermarkets/Supermarkets
  - 8.6.2.2. Convenience Stores
  - 8.6.2.3. Specialty Stores
  - 8.6.2.4. Online Retail
  - 8.6.2.5. Others
8.7. Market Attractiveness Analysis

9. East Asia Soy Milk Market Outlook:

9.1. Historical Market Size (US$ Mn) and Volume (Kiloliter) Analysis, By Market, 2019-2024
- 9.1.1. By Country
- 9.1.2. By Product Type
- 9.1.3. By Category
- 9.1.4. By End Use
- 9.1.5. By Distribution Channel
9.2. Current Market Size (US$ Mn) Analysis and Forecast, By Country, 2025-2032
- 9.2.1. China
- 9.2.2. Japan
- 9.2.3. South Korea
9.3. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Product Type, 2025-2032
- 9.3.1. Plain
- 9.3.2. Flavored
9.4. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Category, 2025-2032
- 9.4.1. Organic
- 9.4.2. Conventional
9.5. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By End Use, 2025-2032
- 9.5.1. Food & Beverage Industry
  - 9.5.1.1. Bakery & Confectionery
  - 9.5.1.2. Dairy & Desserts
  - 9.5.1.3. Infant Formula
- 9.5.2. Retail/Household
- 9.5.3. Foodservice Industry
9.6. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Distribution Channel, 2025-2032
- 9.6.1. Business to Business
- 9.6.2. Business to Consumer
  - 9.6.2.1. Hypermarkets/Supermarkets
  - 9.6.2.2. Convenience Stores
  - 9.6.2.3. Specialty Stores
  - 9.6.2.4. Online Retail
  - 9.6.2.5. Others
9.7. Market Attractiveness Analysis

10. South Asia & Oceania Soy Milk Market Outlook:

10.1. Historical Market Size (US$ Mn) and Volume (Kiloliter) Analysis, By Market, 2019-2024
- 10.1.1. By Country
- 10.1.2. By Product Type
- 10.1.3. By Category
- 10.1.4. By End Use
- 10.1.5. By Distribution Channel
10.2. Current Market Size (US$ Mn) Analysis and Forecast, By Country, 2025-2032
- 10.2.1. India
- 10.2.2. Indonesia
- 10.2.3. Thailand
- 10.2.4. Singapore
- 10.2.5. ANZ
- 10.2.6. Rest of South Asia & Oceania
10.3. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Product Type, 2025-2032
- 10.3.1. Plain
- 10.3.2. Flavored
10.4. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Category, 2025-2032
- 10.4.1. Organic
- 10.4.2. Conventional
10.5. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By End Use, 2025-2032
- 10.5.1. Food & Beverage Industry
  - 10.5.1.1. Bakery & Confectionery
  - 10.5.1.2. Dairy & Desserts
  - 10.5.1.3. Infant Formula
- 10.5.2. Retail/Household
- 10.5.3. Foodservice Industry
10.6. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Distribution Channel, 2025-2032
- 10.6.1. Business to Business
- 10.6.2. Business to Consumer
  - 10.6.2.1. Hypermarkets/Supermarkets
  - 10.6.2.2. Convenience Stores
  - 10.6.2.3. Specialty Stores
  - 10.6.2.4. Online Retail
  - 10.6.2.5. Others
10.7. Market Attractiveness Analysis

11. Latin America Soy Milk Market Outlook:

11.1. Historical Market Size (US$ Mn) and Volume (Kiloliter) Analysis, By Market, 2019-2024
- 11.1.1. By Country
- 11.1.2. By Product Type
- 11.1.3. By Category
- 11.1.4. By End Use
- 11.1.5. By Distribution Channel
11.2. Current Market Size (US$ Mn) Analysis and Forecast, By Country, 2025-2032
- 11.2.1. Brazil
- 11.2.2. Mexico
- 11.2.3. Rest of Latin America
11.3. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Product Type, 2025-2032
- 11.3.1. Plain
- 11.3.2. Flavored
11.4. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Category, 2025-2032
- 11.4.1. Organic
- 11.4.2. Conventional
11.5. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By End Use, 2025-2032
- 11.5.1. Food & Beverage Industry
  - 11.5.1.1. Bakery & Confectionery
  - 11.5.1.2. Dairy & Desserts
  - 11.5.1.3. Infant Formula
- 11.5.2. Retail/Household
- 11.5.3. Foodservice Industry
11.6. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Distribution Channel, 2025-2032
- 11.6.1. Business to Business
- 11.6.2. Business to Consumer
  - 11.6.2.1. Hypermarkets/Supermarkets
  - 11.6.2.2. Convenience Stores
  - 11.6.2.3. Specialty Stores
  - 11.6.2.4. Online Retail
  - 11.6.2.5. Others
11.7. Market Attractiveness Analysis

12. Middle East & Africa Soy Milk Market Outlook:

12.1. Historical Market Size (US$ Mn) and Volume (Kiloliter) Analysis, By Market, 2019-2024
- 12.1.1. By Country
- 12.1.2. By Product Type
- 12.1.3. By Category
- 12.1.4. By End Use
- 12.1.5. By Distribution Channel
12.2. Current Market Size (US$ Mn) Analysis and Forecast, By Country, 2025-2032
- 12.2.1. GCC Countries
- 12.2.2. Egypt
- 12.2.3. South Africa
- 12.2.4. Northern Africa
- 12.2.5. Rest of Middle East & Africa
12.3. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Product Type, 2025-2032
- 12.3.1. Plain
- 12.3.2. Flavored
12.4. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Category, 2025-2032
- 12.4.1. Organic
- 12.4.2. Conventional
12.5. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By End Use, 2025-2032
- 12.5.1. Food & Beverage Industry
  - 12.5.1.1. Bakery & Confectionery
  - 12.5.1.2. Dairy & Desserts
  - 12.5.1.3. Infant Formula
- 12.5.2. Retail/Household
- 12.5.3. Foodservice Industry
12.6. Current Market Size (US$ Mn) and Volume (Kiloliter) Analysis and Forecast, By Distribution Channel, 2025-2032
- 12.6.1. Business to Business
- 12.6.2. Business to Consumer
  - 12.6.2.1. Hypermarkets/Supermarkets
  - 12.6.2.2. Convenience Stores
  - 12.6.2.3. Specialty Stores
  - 12.6.2.4. Online Retail
  - 12.6.2.5. Others
12.7. Market Attractiveness Analysis

13. Competition Landscape

13.1. Market Share Analysis, 2025
13.2. Market Structure
- 13.2.1. Competition Intensity Mapping by Market
- 13.2.2. Competition Dashboard
13.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 13.3.1. Pacific Foods
  - 13.3.1.1. Overview
  - 13.3.1.2. Segments and Product Types
  - 13.3.1.3. Key Financials
  - 13.3.1.4. Market Developments
  - 13.3.1.5. Market Strategy
- 13.3.2. The Hain Celestial Group, Inc
- 13.3.3. Natura Foods
- 13.3.4. Hiland Dairy
- 13.3.5. Ecomil
- 13.3.6. NOW Health Group, Inc.
- 13.3.7. The Bridge S.R.L
- 13.3.8. Pure Harvest
- 13.3.9. The Hershey Company
- 13.3.10. Bio Nutrients Pvt. Ltd
- 13.3.11. The Granarolo Group
- 13.3.12. Vitasoy International Holdings Ltd
- 13.3.13. American Soy Products, Inc.
- 13.3.14. Others

14. Appendix

14.1. Research Methodology
14.2. Research Assumptions
14.3. Acronyms and Abbreviations

Soy Milk Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2025 - 2032