Market overview
The global soy milk market is worth USD 14.5 bn in 2026 and is forecast to reach USD 21.0 bn by 2036, growing at a 3.8% CAGR. China is the largest country market and Plain and unsweetened is the largest by flavour segment.
| Scope | Soy milk: ready-to-drink and powdered soy-based milk alternatives sold through retail, foodservice and traditional channels. |
|---|---|
| Industry | Food and Beverage |
| Value 2025 | USD 14.0 bn |
| Value 2026 | USD 14.5 bn |
| Value 2036 | USD 21.0 bn |
| CAGR 2026-2036 | 3.8% |
| Volume 2026 | 8,728 million litres |
| Volume 2036 | 11,702 million litres |
| Average price 2026 | USD 1.66 per litre |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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Soy Milk market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 2026 | USD 14.5 bn |
| 2027 | USD 15.0 bn |
| 2028 | USD 15.6 bn |
| 2029 | USD 16.2 bn |
| 2030 | USD 16.8 bn |
| 2031 | USD 17.5 bn |
| 2032 | USD 18.1 bn |
| 2033 | USD 18.8 bn |
| 2034 | USD 19.5 bn |
| 2035 | USD 20.3 bn |
| 2036 | USD 21.0 bn |
Soy Milk market segmentation
By flavour
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Plain and unsweetened | 48.0% | 46.6% | USD 7.0 bn | 3.5% |
| Sweetened | 20.0% | 18.2% | USD 2.9 bn | 2.8% |
| Flavoured | 32.0% | 35.2% | USD 4.6 bn | 4.8% |
By channel
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Supermarkets and hypermarkets | 52.0% | 48.6% | USD 7.5 bn | 3.1% |
| Convenience and traditional stores | 22.0% | 21.1% | USD 3.2 bn | 3.4% |
| Online | 14.0% | 18.8% | USD 2.0 bn | 6.9% |
| Foodservice | 12.0% | 11.5% | USD 1.7 bn | 3.4% |
By pack type
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Cartons | 44.0% | 43.4% | USD 6.4 bn | 3.7% |
| Bottles | 26.0% | 26.3% | USD 3.8 bn | 3.9% |
| Cans | 14.0% | 14.1% | USD 2.0 bn | 3.9% |
| Pouches and sachets | 8.0% | 8.1% | USD 1.2 bn | 3.9% |
| Powder tubs and bags | 8.0% | 8.1% | USD 1.2 bn | 3.9% |
By nature
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Conventional | 82.0% | 78.0% | USD 11.9 bn | 3.3% |
| Organic | 12.0% | 15.0% | USD 1.7 bn | 6.1% |
| Fortified and functional | 6.0% | 7.0% | USD 869 mn | 5.4% |
By end user
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Households | 70.0% | 68.0% | USD 10.1 bn | 3.5% |
| Foodservice and cafes | 16.0% | 17.0% | USD 2.3 bn | 4.4% |
| Institutions and schools | 9.0% | 9.0% | USD 1.3 bn | 3.8% |
| Food makers | 5.0% | 6.0% | USD 724 mn | 5.7% |
Top 25 countries for soy milk by revenue
Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 83.5% of 2026 revenue and the 25 countries below together hold 94.8%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | China | USD 6.1 bn | 42.0% | USD 8.9 bn | 3.9% |
| 2 | United States | USD 1.2 bn | 8.0% | USD 1.4 bn | 2.1% |
| 3 | Indonesia | USD 1.0 bn | 7.0% | USD 1.6 bn | 4.7% |
| 4 | Japan | USD 869 mn | 6.0% | USD 1.1 bn | 2.5% |
| 5 | Hong Kong | USD 580 mn | 4.0% | USD 778 mn | 3.0% |
| 6 | Thailand | USD 580 mn | 4.0% | USD 821 mn | 3.5% |
| 7 | India | USD 580 mn | 4.0% | USD 1.1 bn | 6.6% |
| 8 | Taiwan | USD 435 mn | 3.0% | USD 568 mn | 2.7% |
| 9 | Vietnam | USD 435 mn | 3.0% | USD 715 mn | 5.1% |
| 10 | Germany | USD 362 mn | 2.5% | USD 484 mn | 2.9% |
| 11 | Malaysia | USD 217 mn | 1.5% | USD 320 mn | 3.9% |
| 12 | South Korea | USD 174 mn | 1.2% | USD 227 mn | 2.7% |
| 13 | Singapore | USD 162 mn | 1.1% | USD 215 mn | 2.8% |
| 14 | Philippines | USD 152 mn | 1.1% | USD 248 mn | 5.0% |
| 15 | Canada | USD 141 mn | 1.0% | USD 185 mn | 2.8% |
| 16 | Australia | USD 130 mn | 0.9% | USD 170 mn | 2.7% |
| 17 | Brazil | USD 109 mn | 0.8% | USD 160 mn | 3.9% |
| 18 | France | USD 97 mn | 0.7% | USD 128 mn | 2.8% |
| 19 | United Arab Emirates | USD 75 mn | 0.5% | USD 124 mn | 5.1% |
| 20 | Pakistan | USD 75 mn | 0.5% | USD 137 mn | 6.1% |
| 21 | Myanmar | USD 65 mn | 0.5% | USD 105 mn | 4.9% |
| 22 | Bangladesh | USD 65 mn | 0.5% | USD 116 mn | 5.9% |
| 23 | Saudi Arabia | USD 65 mn | 0.5% | USD 105 mn | 4.9% |
| 24 | Mexico | USD 54 mn | 0.4% | USD 80 mn | 4.1% |
| 25 | Netherlands | USD 54 mn | 0.4% | USD 72 mn | 2.9% |
| Rest of world | USD 755 mn | 5.2% | USD 1.1 bn | 4.0% |
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
Competitive landscape
Group 1: Global leaders
- Danone
- Vitasoy International
- Yili Group
- Alpro
- Uni-President
Group 2: Regional and specialist players
- Hain Celestial
- Eden Foods
- Sanitarium
- Campbell Soup Company
- Joyoung
- Yeo Hiap Seng
- Wei-Chuan Foods
- Pulmuone
- SunOpta
Group 3: Emerging and niche players
- Kikkoman
- Marusan-Ai
- Bonsoy
Research methodology
Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the soy milk market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.
The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 3.8% is calculated from the resulting values.
The market is divided by flavour, by channel, by pack type, by nature, by end user. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.
Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.
Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.
Frequently asked questions
How big is the soy milk market?
The global soy milk market is estimated at USD 14.0 bn in 2025 and USD 14.5 bn in 2026.
How fast will the soy milk market grow?
It is forecast to reach USD 21.0 bn by 2036, a compound annual growth rate of 3.8% from 2026, an increase of USD 6.5 bn.
Which country is the largest market for soy milk?
China is the largest market by revenue at USD 6.1 bn in 2026, 42.0% of the global total. The three largest countries together hold 57.0%.
Which country is growing fastest?
Among the ten largest markets, India is growing fastest at 6.6% a year from 2026 to 2036.
Which soy milk segment is largest?
In the by flavour split, Plain and unsweetened is the largest segment with 48.0% of 2026 revenue.
Who are the leading soy milk companies?
Global leaders include Danone, Vitasoy International, Yili Group, Alpro.
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