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.
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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.
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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.
Key Benefits of the Report:
- 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.
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