The North America Soy Milk Market would witness market growth of 12.9% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 286.63 kilo tonnes, showcasing a growth of 11.4% (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. Thus, Canada market is expected to utilize 90.62 kilo tonnes of conventional soy milk by the year 2031.
The US market dominated the North America Soy Milk Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2,410.9 Million by 2031. The Canada market is experiencing a CAGR of 14.3% during (2024 - 2031). Additionally, The Mexico market would 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.
Free Valuable Insights: The Soy Milk Market is Predict to reach USD 13.23 Billion by 2031, at a CAGR of 13.2%
Based on Product, the market is segmented into Conventional and Organic. Based on Flavor, the market is segmented into Plain/Unflavored and Flavored. Based on Distribution Channel, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Online, and Other Distribution Channel. Based on Type, the market is segmented into Sweetened and Unsweetened. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Product (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Flavor (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Distribution Channel (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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