Soy Milk Market To Reach $7.40 Billion By 2030 | CAGR: 5.1%

Soy Milk Market Growth & Trends

The global soy milk market size is estimated to reach USD 7.40 billion by 2030, registering to grow at a CAGR of 5.1% from 2025 to 2030 according to a new report by Grand View Research, Inc. The market is expected to witness significant growth owing to increasing awareness about the health benefits of soy foods and beverages. Availability of a variety of soy milk fortified with nutrients and flavors has helped the product gain popularity in children and adults alike.

The beverages application segment held a major share of the overall revenue owing to growing consumption of soy milk as an alternative to cow milk for daily consumption or in preparation of tea and coffee. Moreover, new varieties of flavored soy milk is expected to drive the demand for beverages over the forecast period.

The unflavored product segment accounted for a significant share in the market. It is used in the preparation of a variety of snacks and dishes. The original product has a peculiar nutty taste, which most consumers do not like. Hence, many flavors are introduced in the market to increase consumption of the product. Vanilla and chocolate are the popular flavors among others, which is expected to fuel the product demand.

Asia Pacific was the largest consumer of the product in 2024 due to large scale production of soy bean in major countries like China, India, Japan, and Hong Kong. China was the major consumer in the entire world in 2024. North America is anticipated to witness substantial growth in light of increasing awareness of soy benefits and consumption of non-dairy alternatives. In Europe, many German manufacturers are engaged in utilizing the health benefits of the product to make various dairy products like cheese and butter. This is expected to drive the market owing to product offerings based on soy milk.

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Soy Milk Market Report Highlights

• The conventional segment dominated the soy milk industry with the largest revenue share of 86.9% in 2024, primarily due to its widespread availability and affordability compared to organic alternatives.

• The plain/unflavored segment dominated the industry with the largest revenue share in 2024 primarily due to its simplicity and versatility, as many individuals prefer plain soy milk as it can be easily incorporated into various recipes.

• The unsweetened segment dominated the industry with the largest revenue share in 2024.

• The supermarkets/hypermarkets segment dominated the soy milk industry with the largest revenue share in 2024, primarily due to their extensive reach and convenience in providing a wide variety of soy milk products to consumers.

Soy Milk Market Segmentation

Grand View Research has segmented the global soy milk market based on product, flavor, type, distribution channel, and region:

Soy Milk Product Outlook (Revenue, USD Million, 2018 - 2030)

• Conventional

• Organic

Soy Milk Flavor Outlook (Revenue, USD Million, 2018 - 2030)

• Plain/Unflavored

• Flavored

  • Vanilla

  • Chocolate

  • Others

Soy Milk Type Outlook (Revenue, USD Million, 2018 - 2030)

• Unsweetened

• Sweetened

Soy Milk Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Supermarkets/Hypermarkets

• Convenience Stores

• Online/E-Commerce

• Others

Soy Milk Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • South Africa

  • UAE

List of Key Players in Soy Milk Market

• Eden Foods

• Organic Valley

•  PURE HARVEST SMART FARMS

• American Soy Products, Inc.

• Vitasoy International Holdings Ltd

• SunOpta.

• Pacific Foods

• PANOS brands

• Sanitarium

• Danone S.A.