Industry Background:
The soy milk powder is made by removing the water from soy milk. It is similar to cow’s milk powder in appearance. Soy milk powder has a white to beige colour and mixes readily with cold or warm water. The soy milk powder can be made from plain soy milk or can add some other ingredients like flavors, calcium, and sugar, among others. It contains all the vital nutritional values of soy milk. It is easier to store and it does not spoil early, and it is environmentally friendly. Generally, soy milk powder is less expensive than pre-packaged soy milk brands.
According to AMA Research, the market for Soy Milk Powder is expected to register a CAGR of 7.0% during the forecast period to 2030. This growth is primarily driven by The Increasing Population of Lactose Intolerant People and Health-Conscious Individuals
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | Kilo Tons |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Food Products sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as NOW Foods (United States), Unisoy (Singapore), Similac (Abbott Lab.) (United States), Enfamil (Mead Johnson) (United States), PANOS (United States), Wyeth (United Kingdom), Weiwei Group (China), Karicare (Australia), Wakodo Co., Ltd. (Japan) and Blackcow (China), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In February 2023, Milo announced the launch of Milo Soy, a new beverage combining soybean benefits with malt extracted from barley, in Thailand.
In April 2021, Nestlé launched a dairy-free version of Milo in Asia, which includes a soymilk powder variant. This product was introduced in Malaysia, and it aims to cater to the growing demand for plant-based alternatives.Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product.
Influencing Trend:
Increasing Penetration of Non-GMO Soy Milk Powder
Market Growth Drivers:
The Increasing Population of Lactose Intolerant People and Health-Conscious Individuals, Changing Consumer’s Preference for Soy Milk Powder and Rising Consumer Awareness Regarding Usage of Lactose-Free Dairy Products in Day-To-Day Life
Challenges:
Availability of Diary Based Milk Powder Substitutes
Opportunities:
Rapid Shifting of People towards Soy Milk Powder and Emerging Consumer base from developing countries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Soy Milk Powder Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Soy Milk Powder Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Soy Milk Powder players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Soy Milk Powder Study Sheds Light on
The Soy Milk Powder Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Soy Milk Powder industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Soy Milk Powder industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.