Organic Soy Milk Market Size, Share & Industry Analysis, By Type (Powder, Liquid), By Application (Dairy, Infant Formula, Confectionery, Bakery) and Regional Forecast, 2024-2032

The organic soy milk is plant-based milk obtained by soaking and grinding the soybeans, followed by boiling the mixture and filtering the remaining particulates. Organic soy milk is a stable emulsion of oil, water, and protein. The consumers are becoming aware about organic and clean-label products as organic farming prohibits the use of any synthetic or artificial pesticides, chemical fertilizers or genetically modified organisms (GMOs). The growing awareness among the consumers about the negative health effects of pesticides is driving the demand for organic products.  

The rising vegan trend among the consumers along with increasing demand for clean-label products is nudging them to shift towards organic, non-dairy based beverages such as organic soy milk. The protein content in the organic soy milk is equivalent to the cow milk, but contains lesser amount of saturated fats and zero cholesterol. The manufacturers are also shifting towards organic soy milk as raw material for manufacturing organic and clean-label products. These factors have aided in the growth of global organic soy milk market.

The increasing animal welfare and environmental concerns among the people is leading them to shift their preferences towards plant-based products. The rising trend of veganism is also driving the demand for organic soy milk among consumers. The organic products are healthier as they contain no harmful synthetic pesticides or preservatives which helps in retaining its natural qualities. Thus, these factors are aiding in driving the global soy milk market.

Key Market Driver -

Rising Demand for Organic and Clean-Label Products

Key Market Restraint -

Presence of Substitute Plant-Based Organic Milk

The availability of substitute plant-based organic milks which offer the same quality and texture as soy milk, is having a negative impact on the growth of the global soy milk market. The substitute variants such as organic almond milk, organic chia seed milk, organic coconut milk, and others are also being widely incorporated by the manufacturers for producing ice creams, yogurts, and others. Thus, hampering the market growth of organic soy milk.

Key Players Covered:

The key companies operating in the global organic soy milk market are, Unifood International Pte Ltd., Eden Foods Inc., PANOS Brand llc., Wyeth (Hong Kong) Holding Company Limited., Pure Harvest, Vitasoy, WhiteWave Foods Company, Dean Foods, Hain Celestial, and Pacific Foods of Oregon, llc.

Organic soy milk is available in powder and liquid forms in the market. The powdered form is leading as it is easier to formulate, along with the ease of transportation and storage. Organic soy milk is widely utilized in several dairy products such as tofu and yogurt making it a leading application segment. The organic soy milk is witnessing a significant market growth, as the consumers are increasingly opting for organic soy milk instead of conventional milk. The manufacturers are also widely utilizing organic soy milk for manufacturing organic infant formula owing to its wide availability and easy digestibility compared to cow milk.

Regional Analysis:

North America is witnessing considerable growth due to the growing consumption of non-dairy and organic food products. The rising demand for fat-free, organic, and plant-based food is influencing the need for organic soy milk in the North American market. The growing incidences of obesity and diabetes are also leading to the consumers shifting preferences towards organic soy milk. Further, the increasing vegan trend in countries such as the U.S. and Canada are propelling the regional organic soy milk market growth.

Asia Pacific is anticipated to witness a significant growth in the upcoming years owing to the rapid urbanization. The rising acceptability of westernized culture along with consumers increasing demand for organic plant-based food has also aided in the consumption of organic soy milk on regular basis. The increasing health consciousness of consumers and the demand for organic food products that are protein-rich and low in calories are expected to fuel the regional organic soy milk market.

Europe is expected to witness a significant growth due to the increasing incidences of lactose intolerance among the population. Organic soy milk is an effective replacement to cow milk as it comparatively has lesser fat-content and easy digestibility. The consumers are drifting towards fortified food and beverage incorporated with organic ingredients and offering a broad spectrum of health benefits. These factors are thus, boosting the growth of the regional organic soy milk market.

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Segmentation

Key Industry Developments

• In May 2019, the triparties joint venture of Nutifood, Backahill group and The Cooperative of Skånemejerier Ekonomisk Förening dairy farms, announced the operation of Nutifood Sweden AB Dairy Factory in Sweden. This establishment of the new factory is expected to boost the company’s production of soy milk, fresh milk, yogurt and others.