The Asia Pacific Soy Milk Market is expected to witness market growth of 13.5% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 828.67 kilo tonnes, showcasing a growth of 12.8% (2020-2023).
Plain or unflavored soy milk is known for its neutral taste and versatility, making it a popular choice among health-conscious consumers. It serves as an excellent alternative to dairy milk for vegans, vegetarians, and individuals with lactose intolerance. Plain soy milk is often used in cooking, baking, and beverages, such as coffee, tea, and smoothies, where additional flavors or sweeteners are not needed. Its popularity is particularly high among consumers following low-sugar, low-calorie, and clean-label diets because it often contains no additives, sweeteners, or artificial ingredients. Thus, China market is expected to utilize 309.97 kilo tonnes of plain milk by the year 2031.
The China market dominated the Asia Pacific Soy Milk Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $1.60 billion by 2031. The Japan market is showcasing a CAGR of 12.8% during 2024-2031. Additionally, the India market would register a CAGR of 14.2% during 2024-2031.
Health considerations are also a critical factor in the growing soy milk market. Soy milk is an appealing alternative for consumers who are interested in maintaining or enhancing their health due to its richness in plant-based protein, minimal content of saturated fats, and natural absence of cholesterol. Scientific research has been instrumental in establishing soy milk as a functional beverage with numerous health benefits, particularly in supporting heart health.
Moreover, one of soy milk's most widely recognized advantages is its ability to lower LDL cholesterol, a key risk factor for cardiovascular disease. Studies, including those published in the Journal of the American College of Nutrition, show that soy protein can reduce LDL cholesterol levels by 3%-5%, making it an effective dietary tool for heart health combined with a low-fat diet. Furthermore, the Journal of Nutrition has demonstrated that isoflavones present in soy milk can enhance endothelial function, reducing the risk of atherosclerosis and high blood pressure and promoting vascular health.
In China, soy milk has long been a dietary staple, deeply rooted in the country’s culinary traditions. The demand for soy milk has surged due to growing health awareness and urbanization. The prevalence of lactose intolerance, affecting over 85% of the Chinese population, has made soy milk a preferred dairy alternative. Leading brands such as Vitasoy and Mengniu have broadened their product line to include fortified, unsweetened, and flavored options, thereby accommodating a diverse array of consumer preferences. Furthermore, the rapid expansion of e-commerce platforms such as Alibaba and JD.com has increased the accessibility of soy milk, particularly in rural and semi-urban regions. Marketing campaigns highlighting soy milk’s nutritional benefits and eco-friendly production have further driven its adoption.
Plain or unflavored soy milk is known for its neutral taste and versatility, making it a popular choice among health-conscious consumers. It serves as an excellent alternative to dairy milk for vegans, vegetarians, and individuals with lactose intolerance. Plain soy milk is often used in cooking, baking, and beverages, such as coffee, tea, and smoothies, where additional flavors or sweeteners are not needed. Its popularity is particularly high among consumers following low-sugar, low-calorie, and clean-label diets because it often contains no additives, sweeteners, or artificial ingredients. Thus, China market is expected to utilize 309.97 kilo tonnes of plain milk by the year 2031.
The China market dominated the Asia Pacific Soy Milk Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $1.60 billion by 2031. The Japan market is showcasing a CAGR of 12.8% during 2024-2031. Additionally, the India market would register a CAGR of 14.2% during 2024-2031.
Health considerations are also a critical factor in the growing soy milk market. Soy milk is an appealing alternative for consumers who are interested in maintaining or enhancing their health due to its richness in plant-based protein, minimal content of saturated fats, and natural absence of cholesterol. Scientific research has been instrumental in establishing soy milk as a functional beverage with numerous health benefits, particularly in supporting heart health.
Moreover, one of soy milk's most widely recognized advantages is its ability to lower LDL cholesterol, a key risk factor for cardiovascular disease. Studies, including those published in the Journal of the American College of Nutrition, show that soy protein can reduce LDL cholesterol levels by 3%-5%, making it an effective dietary tool for heart health combined with a low-fat diet. Furthermore, the Journal of Nutrition has demonstrated that isoflavones present in soy milk can enhance endothelial function, reducing the risk of atherosclerosis and high blood pressure and promoting vascular health.
In China, soy milk has long been a dietary staple, deeply rooted in the country’s culinary traditions. The demand for soy milk has surged due to growing health awareness and urbanization. The prevalence of lactose intolerance, affecting over 85% of the Chinese population, has made soy milk a preferred dairy alternative. Leading brands such as Vitasoy and Mengniu have broadened their product line to include fortified, unsweetened, and flavored options, thereby accommodating a diverse array of consumer preferences. Furthermore, the rapid expansion of e-commerce platforms such as Alibaba and JD.com has increased the accessibility of soy milk, particularly in rural and semi-urban regions. Marketing campaigns highlighting soy milk’s nutritional benefits and eco-friendly production have further driven its adoption.
List of Key Companies Profiled
- Eden Foods, Inc.
- Vitasoy International Holdings Ltd.
- SunOpta, Inc.
- Campbell Soup Company (Pacific Foods of Oregon, Inc.)
- Panos Brands, LLC
- Sanitarium Health and Wellbeing Company
- Danone S.A.
- The Hershey Company
- NOW Foods, Inc.
- Foodchem International Corporation
Market Report Segmentation
By Product (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- Conventional
- Organic
By Flavor (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- Plain/Unflavored
- Flavored
By Distribution Channel (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- Supermarkets & Hypermarkets
- Convenience Stores
- Online
- Other Distribution Channel
By Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- Sweetened
- Unsweetened
By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- China
- Japan
- India
- South Korea
- Australia
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Asia Pacific Soy Milk Market by Product
Chapter 5. Asia Pacific Soy Milk Market by Flavor
Chapter 6. Asia Pacific Soy Milk Market by Distribution Channel
Chapter 7. Asia Pacific Soy Milk Market by Type
Chapter 8. Asia Pacific Soy Milk Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Eden Foods, Inc.
- Vitasoy International Holdings Ltd.
- SunOpta, Inc.
- Campbell Soup Company (Pacific Foods of Oregon, Inc.)
- Panos Brands, LLC
- Sanitarium Health and Wellbeing Company
- Danone S.A.
- The Hershey Company
- NOW Foods, Inc.
- Foodchem International Corporation
Methodology
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