The Soybean Milk Powder Market size was valued at USD 2.3 Billion in 2022 and is projected to reach USD 4.5 Billion by 2030, growing at a CAGR of 8.5% from 2024 to 2030.
The drinks segment of the soybean milk powder market is one of the most prominent applications due to increasing consumer demand for plant-based and dairy-free beverages. Soybean milk powder, when mixed with water, serves as a nutritious and convenient alternative to traditional milk. It is widely consumed across the globe, particularly in countries with a growing number of lactose-intolerant or vegan populations. The drink sector benefits from the versatility of soybean milk powder, which can be flavored and sweetened to cater to various taste preferences. Additionally, it provides an excellent source of protein, essential fatty acids, and vitamins, making it a preferred choice for health-conscious individuals.
Consumers are increasingly opting for plant-based beverages as part of a shift toward healthier lifestyles and environmentally sustainable products. This trend is driven by rising awareness of the health risks associated with dairy consumption, including lactose intolerance, and the environmental benefits of plant-based products. The demand for soybean milk powder in drinks is further supported by its use in smoothies, shakes, and ready-to-drink (RTD) beverages. As this segment continues to expand, manufacturers are innovating by offering flavored variants, fortified versions with added nutrients, and products catering to specific dietary requirements, such as gluten-free or low-sugar options.
The soybean milk powder market for yoghurt applications is also growing, driven by the increasing popularity of plant-based dairy alternatives. Soy-based yoghurt, made from soybean milk powder, is an appealing option for consumers who seek dairy-free or vegan-friendly products without sacrificing the taste or texture of traditional dairy yoghurt. Soybean milk powder is often used to create smooth, creamy, and high-protein alternatives that resemble conventional yoghurt in both flavor and consistency. Furthermore, soybean yoghurt can be fortified with probiotics, making it a functional food that supports gut health and overall wellness.
Rising consumer awareness of the benefits of plant-based diets is fueling the growth of the soybean milk powder market in the yoghurt segment. With more people seeking plant-based alternatives, especially those with dietary restrictions, the demand for soy yoghurt has surged. Additionally, as the market for non-dairy yoghurt continues to evolve, manufacturers are focusing on improving the taste, texture, and nutritional value of soy-based yoghurt, which is further driving its adoption. The versatility of soybean milk powder allows for the production of flavoured and unsweetened options, catering to a wide variety of consumer preferences.
In the ice cream segment, soybean milk powder is increasingly being used to create dairy-free, vegan-friendly ice cream products that cater to the growing demand for plant-based desserts. The texture and creaminess that soybean milk powder offers are essential for creating indulgent, rich ice cream alternatives that appeal to health-conscious and lactose-intolerant consumers. Soy-based ice creams are often seen as healthier alternatives due to their lower cholesterol content compared to traditional dairy ice cream. Additionally, the ability to customize flavors and add functional ingredients makes soybean milk powder a popular choice among ice cream manufacturers.
The demand for plant-based ice cream has risen as more consumers seek dairy alternatives due to health concerns, environmental sustainability, and ethical considerations related to animal welfare. As the plant-based food industry continues to expand, soybean milk powder is becoming a key ingredient in the development of new and innovative ice cream products. The versatility of soybean milk powder also allows ice cream producers to explore a range of flavors and formulations, from chocolate and vanilla to exotic fruit blends and nut-based options. This growing variety is expected to drive the continued expansion of the soybean milk powder market within the ice cream sector.
The "Others" application segment of the soybean milk powder market includes a wide variety of uses such as bakery products, sauces, soups, and baby food. In the bakery industry, soybean milk powder is used as a non-dairy milk substitute for muffins, cakes, and other baked goods, providing a rich, moist texture without the use of animal products. In savory applications such as sauces and soups, soybean milk powder can be used to create creamy, plant-based alternatives to dairy-based recipes. Furthermore, soybean milk powder is gaining popularity in the baby food market due to its high nutritional content and digestibility, making it an ideal choice for infant formula products.
The versatility of soybean milk powder in the "Others" application segment highlights its ability to cater to a variety of dietary needs and preferences. As consumers continue to seek plant-based alternatives in their everyday food products, soybean milk powder is increasingly being incorporated into various food formulations. This trend is particularly notable in the growing market for vegan and vegetarian products, where soybean milk powder provides an essential ingredient that meets the demand for both nutrition and taste. With continued innovation in the food sector, soybean milk powder is expected to find new applications and continue to gain traction in the broader food market.
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By combining cutting-edge technology with conventional knowledge, the Soybean Milk Powder market is well known for its creative approach. Major participants prioritize high production standards, frequently highlighting energy efficiency and sustainability. Through innovative research, strategic alliances, and ongoing product development, these businesses control both domestic and foreign markets. Prominent manufacturers ensure regulatory compliance while giving priority to changing trends and customer requests. Their competitive advantage is frequently preserved by significant R&D expenditures and a strong emphasis on selling high-end goods worldwide.
NOW Foods
Unisoy
EcoMil
Similac
Enfamil
PANOS
Wyeth
Weiwei Group
Karicare
Wakodo
Blackcow
North America (United States, Canada, and Mexico, etc.)
Asia-Pacific (China, India, Japan, South Korea, and Australia, etc.)
Europe (Germany, United Kingdom, France, Italy, and Spain, etc.)
Latin America (Brazil, Argentina, and Colombia, etc.)
Middle East & Africa (Saudi Arabia, UAE, South Africa, and Egypt, etc.)
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The soybean milk powder market is witnessing several key trends that are shaping its growth trajectory. One of the most significant trends is the increasing demand for plant-based and vegan products across various food and beverage categories. Consumers are becoming more conscious of the health benefits of plant-based diets, including improved heart health, lower cholesterol levels, and better digestion. This trend is encouraging manufacturers to innovate and introduce new soybean milk powder-based products that cater to specific dietary needs such as lactose intolerance, veganism, and gluten-free diets. As the popularity of plant-based diets continues to rise, soybean milk powder is expected to remain a central ingredient in the development of dairy-free and health-conscious food options.
Another key trend is the growing focus on sustainability and environmental concerns. Plant-based products, including those made from soybean milk powder, are viewed as more eco-friendly alternatives to traditional dairy, which has a higher carbon footprint. As consumers become more environmentally aware, they are increasingly opting for products that align with their sustainability values. Manufacturers are responding by offering organic, non-GMO, and ethically sourced soybean milk powder, further appealing to the conscious consumer. These trends are expected to continue driving demand for soybean milk powder, as both health and sustainability considerations become more important in consumer purchasing decisions.
There are several opportunities in the soybean milk powder market that can be leveraged by manufacturers and stakeholders. One of the key opportunities is the increasing penetration of plant-based products into emerging markets, where the demand for dairy alternatives is still in its early stages but growing rapidly. In regions such as Asia Pacific, Latin America, and the Middle East, consumers are becoming more aware of the health benefits and sustainability of plant-based products. This presents significant growth opportunities for soybean milk powder in both traditional and new product categories, such as beverages, desserts, and convenience foods.
Another opportunity lies in the growing trend of personalized nutrition, where consumers are increasingly seeking tailored food and beverage options that meet their specific health and dietary requirements. Manufacturers can capitalize on this trend by offering fortified soybean milk powder products that cater to specific health concerns, such as bone health, heart health, or weight management. The ability to customize products with added nutrients, probiotics, and flavor options will further enhance the appeal of soybean milk powder, positioning it as a versatile and functional ingredient in a variety of food applications.
What is soybean milk powder?
Soybean milk powder is a plant-based powder made from soybeans, used as a dairy alternative in various food and beverage products.
Is soybean milk powder suitable for vegans?
Yes, soybean milk powder is a vegan-friendly product as it is derived entirely from soybeans and contains no animal products.
Can soybean milk powder help with lactose intolerance?
Yes, soybean milk powder is lactose-free, making it an ideal substitute for individuals with lactose intolerance.
What are the main uses of soybean milk powder?
Soybean milk powder is primarily used in drinks, yoghurt, ice cream, bakery items, and other dairy-free food products.
How does soybean milk powder compare to cow’s milk in terms of nutrition?
Soybean milk powder is rich in protein, vitamins, and minerals, and is lower in fat and cholesterol compared to cow’s milk.
Is soybean milk powder environmentally friendly?
Yes, soybean milk powder is considered more environmentally sustainable than dairy products, as its production has a lower carbon footprint.
Can soybean milk powder be used in baking?
Yes, soybean milk powder is used as a substitute for dairy milk in various baked goods, providing a rich texture without animal products.
Is soybean milk powder gluten-free?
Yes, soybean milk powder is naturally gluten-free, making it suitable for individuals with gluten sensitivities.
How long does soybean milk powder last once opened?
Once opened, soybean milk powder typically lasts for 2-3 months when stored in a cool, dry place in an airtight container.
What are the health benefits of soybean milk powder?
Soybean milk powder offers several health benefits, including high protein content, heart health support, and being a good source of vitamins and minerals.