Soy milk powder is produced from liquid soymilk, which is initially extracted from whole or dehulled soybean by the process of spray-drying. It contains about 50% higher protein as compared to skim milk powder and can be manufactured comparatively at an economical cost. It also has long shelf-life, high quality of fat and carbohydrate, and thus can be used as a substitute to skim milk powder across various applications. Soy milk powder is used as an ingredient in numerous food & beverages and dairy and confectionary products such as desserts, yogurts, baby food, salad dressings, and others owing to its nutritional benefits such as proteins and vitamins. It is majorly used in personal care products such as bubble bars due to its smooth texture and solubility.
The demand for food products made me organic, dairy free and healthy ingredients is on the rise with the increase in health consciousness among individuals due to the prevalence of health issues such as obesity and lactose intolerance. Being a grain product, soy milk powder is an ideal substitute of wheat and other flours in baked goods such as cookies. This increases the nutritional superiority of the food products, thereby leading to an increased demand. Therefore, this factor in turn drives the growth of the market. In addition, consumers today are becoming increasingly mindful about the usage of personal care products. This is a result of increase in environmental glitches such as extreme pollution. Soy milk powder is a naturally derived ingredient with smooth texture and solubility and hence is used in manufacturing personal care products such as soaps. The market for soy milk powder is consequently driven with the rise in demand for such products. However, the use of additives and preservatives in the powder to increase its shelf life as well as its preservation, is anticipated to retrain the market growth since the consumption of these ingredients causes allergy to babies and children.
On the contrary, the trend of veganism is on the rise. There is an increase in the number of individuals turning toward organic plant-based protein and dairy sources. This trend can be viewed as an opportunity by the manufacturers to expand their market base by introducing soy milk powder products to suffice the demand.
The market is segmented based on type, application, distribution channel, and region. Based on type, it is classified into organic and conventional. Based on application, it is categorized into food & beverages industry, baking & confectionery industry, personal care products, and animal feed. Based on distribution channel, it is bifurcated into B2B and B2C. Based on region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players in the market include Urban Platter, Bio Nutrients (India) Pvt. Ltd., NOW Foods, Chocolate Alchemy, Outdoor Herbivore, Jaffe Bros., Inc., UniFood Pte Ltd., Bulk Barn Foods Limited., UL LLC, and BMS Organics.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an in-depth analysis of the current trends, drivers, and dynamics of the soy milk powder market to elucidate the prevailing opportunities and tap the investment pockets.
- It offers qualitative trends as well as quantitative analysis of the global market to assist stakeholders to understand the market scenario.
- In-depth analysis of the key segments demonstrates the applications of soy milk powder and its distribution channels.
- Competitive intelligence of the industry highlights the business practices followed by key players across geographies as well as the prevailing market opportunities.
- Key market players are profiled to understand the competitive outlook of the market.
Soy Milk Powder Market Report Highlights
By Distribution Channel
Key Market Players
UL LLC, Outdoor Herbivore, BMS Organics, Urban Platter, UniFood Pte Ltd., NOW Foods, Bio Nutrients (India) Pvt. Ltd., Chocolate Alchemy, Jaffe Bros., Inc., Bulk Barn Foods Limited.