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India Soy Milk Market Analysis

The India Soy Beverages Market size is estimated at USD 65.86 million in 2024, and is expected to reach USD 98.80 million by 2029, growing at a CAGR of 8.45% during the forecast period (2024-2029).

COVID-19 is an incomparable global public health emergency that has affected almost every industry, so and, the unprecedented stress on supply chains owing to forced lockdowns across the globe has resulted in decreasing sales of soy milk, although demand continues to be high. Increasing awareness about the health benefits associated with the consumption of soy milk is expected to drive the demand over the forecast period. The increasing popularity of non-dairy foods and beverages is also anticipated to boost product demand.

The market is primarily driven by the increasing number of consumers seeking non-dairy beverage alternatives have led to substantial growth in the demand for soy milk beverages market. In addition, new food production technology and new varieties of soybeans result in new flavors creating competition with cow's milk and dairy products.

Furthermore, the various health benefits of soy milk such as less cholesterol, heart disease reduction and the increasing number of health-conscious consumers are also few of the factors driving the market.

India Soy Milk Industry Segmentation

Soy beverage is a plant-based drink produced by soaking and grinding soybeans, boiling the mixture, and filtering out remaining particulates. It is a stable emulsion of oil, water, and protein The Indian soy beverages market is segmented by product type and distribution channel. By product type, the market is segmented into soy milk, soy-based drinkable yogurt; by flavor into flavored and plain/unflavored; and by distribution channel into supermarkets/hypermarkets, pharmacies, retail stores, convenience stores, and other channels. The report offers market size and forecast in value terms in USD million for all the above segments.