As the lives of people are changing, so are their health & eating habits. What adds up with these changes is intolerance to lactose and the advent of trends like veganism. In the world today, the population of vegans is growing swiftly and so is the number of people with lactose intolerance. It, in turn, propels the demand for dairy-free milk, like soymilk, almond milk, and others. Among all, soymilk is the most extensively consumed milk alternative and has a substantial consumer base globally.
Besides, a growing number of people with health issues like obesity and increasing health consciousness among people, the adoption of healthy eating has shown emerged substantially throughout the world and has demonstrated an elevation in the demand for soymilk.
Hence, observing the high demand for soymilk, the production & distribution are expanding rapidly and catering to the needs worldwide. In fact, a recent research report published by MarkNtel Advisors reveals that the Global Soymilk Market is set to register a CAGR of around XX% during 2022-27.
Let us read the blog until the end to learn more about the key aspects backing the mounting demand for soymilk and the industry potential in the coming years.
Key Parameters Behind the Growing Popularity of Soymilk
While health consciousness among people and their shifting preference for a nutritious diet have been a prevalent aspect backing the demand for soymilk throughout the world, the emergence of Covid-19 further propelled the sales of this milk.
Additionally, the fear of losing lives demonstrated people choosing healthy lifestyles to maintain their health & build a strong immune system also contributed to the high demand for soymilk elevated globally in recent years. The same aspect also instigated the leading players in the market to increase their production & distribution capacities and cater to the burgeoning demands of the people across geographies.
Moreover, growing concerns, sympathy, & welfare for animals among people have also triggered veganism and upscaled the demand for soymilk as an alternative to animal-based milk. Since Soymilk meets the nutritional requirements and replaces regular milk, more and more people are increasingly utilizing these products and bringing them into daily practice.
Prominent Perks of Consuming Soymilk
To begin with, Soy milk Soybean is grain-rich milk exhibiting nutrients like protein, calcium, & carbohydrate. Such products contain numerous benefits, like the following:
No matter how enriching soy milk can be, the main ingredient, Calcium is still in scarcity. So, to meet these requirements, soymilk is fortified with such nutrients and is not just limited to nutrition but also enhances the taste while eliminating the nutty flavor of soybeans. Moreover, soymilks are combined & available in several added flavors like honeydew melon, strawberry, chocolate, vanilla, cardamom, saffron, and many more as perfect add-ons, where these flavors are typically popular among younger adults.
Research report hints that the population of vegans has grown substantially over the years, especially across different countries in Europe. This adds up to the high demand & consumption of soymilk, generating substantial growth opportunities for the leading players to increase their production & distribution capacities and cater to the rising needs. Such behavioral changes reflect the importance of non-dairy products in the coming years. Moreover, owing to the high protein content in soymilk, enriching polyunsaturated fatty acids, and lower carbohydrates, these products are viewed as the perfect alternative to animal-based products.
Citing a baby's nutritional needs & its typical dependency on milk, soymilk is also gaining swift momentum in this area. It is viewed as an excellent ingredient to add to baby formula to act as a substitute for cow's milk. Also, families with full-term babies with galactosemia or hereditary lactase deficiency are recommended soy infant formula.
As Soymilk has a broader market coverage in terms of utility and finds substantial application across the food & beverages industry, like in bakeries, confectionary, & beverages, among others. Hence, these products are becoming eye-catcher among fitness-conscious yet gourmand consumers. Moreover, soymilk is also popularly used in making tofu, desserts, cakes, ice cream, yogurt, smoothies, breakfast cereals, and whatnot. Therefore, backed by numerous applications, soy milk is already gaining all the hype among consumers and contributing to the market expansion.
A Way Ahead for Soymilk in the Future
Considering all the factors cited above in the blog, we can conclude that the prospect of the soymilk industry is lucrative and holds substantial growth opportunities for the leading players. Therefore, with the active participation of the leading players in the industry, the overall market shall witness swift growth in the future. This growth is backed by the growing population of vegans, lactose intolerants, and greater consumer preference toward using soymilk for nutrient needs & in baby formulas.