Dublin, Jan. 23, 2025 (GLOBE NEWSWIRE) -- The "North America Soy Milk Market Size, Share & Trends Analysis Report By Product (Conventional and Organic), By Flavor (Plain/Unflavored and Flavored), By Distribution Channel, By Type, By Country and Growth Forecast, 2024 - 2031" report has been added to ResearchAndMarkets.com's offering.
The North American Soy Milk Market is expected to witness market growth of 12.9% CAGR during the forecast period (2024-2031). In 2020, North America market's volume surged to 286.63 kilo tonnes, showcasing a growth of 11.4% during 2020-2023.
Conventional soy milk is produced using traditional agricultural practices where genetically modified (GMO) soybeans and synthetic fertilizers or pesticides are commonly used. It is mass-produced, making it the most affordable option for consumers, especially in developing and emerging markets. The lower production costs and widespread availability through large-scale manufacturing enable conventional soy milk to dominate the market. Canada's market is expected to utilize 90.62 kilo tonnes of conventional soy milk by the year 2031.
The US market dominated the North American Soy Milk Market by country in 2023, and is forecast to continue to be a dominant market to 2031; thereby, achieving a market value of $2.41 billion by 2031. The Canadian market is experiencing a CAGR of 14.3% during 2024-2031. Additionally, the Mexican market is expected to exhibit a CAGR of 14% during 2024-2031.
The market's expansion has also been influenced by the increasing incidence of lactose intolerance along with dairy allergies. The sugar in dairy milk, lactose, is challenging to digest for a substantial portion of the population, particularly in Asia, Africa, and South America. Soy milk is a nutritionally comparable and easily digestible alternative for these individuals.
Moreover, the rise in cases of dairy allergies, especially among children, has further boosted the demand for soy milk. As awareness of these conditions grows, so does the market for lactose-free and allergen-friendly products, with soy milk being at the forefront of this category.
In the United States, the demand for soy milk has been bolstered by a growing focus on health and wellness. The rise in lactose intolerance, affecting an estimated 36% of Americans, has significantly increased the adoption of soy milk as a dairy alternative. Additionally, the plant-based movement, popularized by campaigns such as Meatless Monday, has further integrated soy milk into everyday diets.
Major cities like Los Angeles and New York have seen a surge in vegan cafes and restaurants offering soy milk as a standard option, reflecting the growing demand. Retail innovation, including single-serve soy milk cartons and shelf-stable varieties, has catered to urban and health-conscious consumers, further expanding its market share. The prevalence of soy milk has also been bolstered by the influence of social media and celebrity endorsements that promote plant-based lifestyles.
Key Companies Profiled
- Eden Foods
- Vitasoy International
- SunOpta
- Campbell Soup
- Panos Brands
- Sanitarium Health and Wellbeing Company
- Danone
- The Hershey Company
- NOW Foods
- Foodchem
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.2 Key Factors Impacting the Market
3.3 Porter Five Forces Analysis
Chapter 4. North America Soy Milk Market by Product
4.1 North America Conventional Market by Region
4.2 North America Organic Market by Region
Chapter 5. North America Soy Milk Market by Flavor
5.1 North America Plain/Unflavored Market by Country
5.2 North America Flavored Market by Country
Chapter 6. North America Soy Milk Market by Distribution Channel
6.1 North America Supermarkets & Hypermarkets Market by Country
6.2 North America Convenience Stores Market by Country
6.3 North America Online Market by Country
6.4 North America Other Distribution Channel Market by Country
Chapter 7. North America Soy Milk Market by Type
7.1 North America Sweetened Market by Country
7.2 North America Unsweetened Market by Country
Chapter 8. North America Soy Milk Market by Country
8.1 US Soy Milk Market
8.2 Canada Soy Milk Market
8.3 Mexico Soy Milk Market
8.4 Rest of North America Soy Milk Market
Chapter 9. Company Profiles
- Eden Foods
- Vitasoy International
- SunOpta
- Campbell Soup
- Panos Brands
- Sanitarium Health and Wellbeing Company
- Danone
- The Hershey Company
- NOW Foods
- Foodchem
For more information about this report visit https://www.researchandmarkets.com/r/fqedm0
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