IMARC Group, a leading market research company, has recently released a report titled "Soy Desserts Market Report by Product (Cakes and Pastries, Ice Cream, Pudding, and Others), Distribution Channel (Hypermarket, Convenience Stores, Online Retailers), and Region 2024-2032". The study provides a detailed analysis of the industry, including the soy desserts market trends, size, share and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global soy desserts market size reached US$ 74.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 125.7 Billion by 2032, exhibiting a growth rate (CAGR) of 5.8% during 2024-2032.
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Factors Affecting the Growth of the Soy Desserts Industry:
Rise in Veganism
The rise in veganism is a primary driver of the global soy desserts market, as more consumers adopt vegan diets due to ethical, environmental, and health concerns. This dietary shift is primarily motivated by a growing awareness of the impacts of animal agriculture on animal welfare, environmental degradation, and personal health. Vegan diets exclude all animal products, making plant-based alternatives like soy desserts an essential component of vegan eating. As the vegan community grows, especially in urban areas and among younger demographics, there is an increased demand for diverse and satisfying dessert options that align with vegan values. This demand has prompted manufacturers to expand their product lines to include a variety of soy-based desserts, such as ice creams, yogurts, and puddings, which mimic the taste and texture of their dairy counterparts. The expansion of the vegan market is further supported by a plethora of vegan blogs, cookbooks, and influencers, which help to mainstream veganism and make soy-based desserts a more attractive and accessible option for a broad audience.
Increasing Lactose Intolerance
Lactose intolerance is a condition that affects a significant portion of the global population, characterized by the inability to digest lactose, a sugar found in milk and dairy products. This intolerance can lead to various digestive symptoms, such as bloating, diarrhea, and abdominal pain, making dairy consumption uncomfortable for many people. The prevalence of lactose intolerance varies widely, with high rates in East Asia, West Africa, and among people of Ashkenazi Jewish descent. This widespread condition drives the demand for lactose-free dessert options, making soy desserts an appealing alternative. Soy-based products do not contain lactose, making them easily digestible for those with lactose intolerance. As awareness of this condition has increased, more consumers have begun seeking out non-dairy alternatives, not just for reasons of comfort but also for improved digestive health.
Enhanced Nutritional Benefits
Soy desserts offer enhanced nutritional benefits, which is a significant factor driving their popularity. Soybeans are naturally rich in protein, vitamins, and minerals while being low in saturated fats. They provide a good source of essential amino acids, fiber, iron, magnesium, potassium, and zinc. Moreover, soy contains isoflavones, compounds that have been studied for their potential to reduce the risk of heart disease and osteoporosis, as well as to alleviate menopausal symptoms. These health benefits make soy desserts particularly appealing to health-conscious consumers who are looking for dessert options that do not compromise their dietary goals. In a market increasingly dominated by consumers seeking functional foods—products that offer additional health benefits beyond basic nutrition—soy desserts stand out as a choice that supports both wellness and indulgence.
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Soy Desserts Market Report Segmentation:
By Product Type:
- Cakes and Pastries
- Ice Cream
- Pudding
- Others
Cakes and pastries, often seen as indulgent and versatile desserts, likely represented the largest segment in the soy desserts market due to their widespread popularity and the ease with which soy ingredients can be incorporated into various traditional and innovative recipes.
By Distribution Channel:
- Hypermarket
- Convenience Stores
- Online Retailers
Hypermarkets represented the largest segment by distribution channel as they offer extensive shelf space and variety, making it convenient for consumers to discover and purchase a wide range of soy dessert products during their routine shopping trips.
Regional Insights:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
North America was the largest market for soy desserts, likely due to the high prevalence of dietary restrictions such as lactose intolerance and veganism, coupled with a growing consumer awareness of health and sustainability issues that align with the benefits of soy-based products.
Global Soy Desserts Market Trends:
The global soy desserts market is driven by a confluence of factors, such as the rise in veganism significantly propels the demand for plant-based alternatives like soy desserts, as more consumers opt out of animal products for ethical or health reasons. Moreover, the increasing incidence of lactose intolerance among the global population encourages many to choose soy-based desserts over traditional dairy products. Additionally, enhanced nutritional benefits of soy, such as high protein content and lower cholesterol levels, attract health-aware individuals. Furthermore, the innovation in flavor and texture by manufacturers makes soy desserts more appealing to a broader audience.
Top Companies Operated in Soy Desserts Industry:
- AFC Soy Foods
- Alpro (Danone S.A.)
- Trader Joe's (T.A.C.T. Holding, Inc.).
Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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