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Soy Milk Market Size Worth $23.2 Billion By 2025 | CAGR: 6.1%: Grand View Research, Inc.

Betty Tűndik

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Soy Beans & Soy Milk
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The global soy milk market size is expected to reach USD 23.2 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.1% over the forecast period. The market is expected to witness significant growth owing to increasing awareness about the health benefits of soy foods and beverages. Availability of a variety of soy milk fortified with nutrients and flavors has helped the product gain popularity in children and adults alike.

Key suggestions from the report:

  • In terms of revenue, the desserts application segment is projected to expand at a CAGR of 6.6% over the forecast period owing to rapid increase in the overall desserts and non-dairy dessert alternatives. Beverages dominated the market with an overall share of 42.2% in 2018
  • Asia Pacific dominated the market in 2018 and accounted for a share of 37.1%. This trend is projected to resume over the next few years owing to increasing population and awareness about the benefits of soy-based food and beverages
  • The market for dessert is expected to witness significant growth in various countries including U.S., U.K., GermanyIndia, and Japanowing to increasing consumption of non-dairy foods and beverages
  • The industry is highly competitive in nature due to presence of the main players including Eden Foods; Organic Valley; Pureharvest; WhiteWave Foods; SunOpta Inc.; and Vitasoy
  • Various manufacturers are concentrating on introducing new flavors of soy milk in the market to increase product offering.

Read 100 page research report with TOC on “Soy Milk Market Size, Share & Trends Analysis Report By Product Type (Flavored, Unflavored), By Application (Desserts, Cheese & Snacks, Beverages), By Region, And Segment Forecasts, 2019 – 2025” at: 

https://www.grandviewresearch.com/industry-analysis/soy-milk-market

The beverages application segment held a major share of the overall revenue owing to growing consumption of soy milk as an alternative to cow milk for daily consumption or in preparation of tea and coffee. Moreover, new varieties of flavored soy milk is expected to drive the demand for beverages over the forecast period. However, the desserts segment is expected to grow significantly with a CAGR of 6.6%. Increasing consumption of non-dairy dessert food is expected to increase the consumption of the product in desserts.

The unflavored product segment accounted for a significant share in the market. It is used in the preparation of a variety of snacks and dishes. The original product has a peculiar nutty taste, which most consumers do not like. Hence, many flavors are introduced in the market to increase consumption of the product. Vanilla and chocolate are the popular flavors among others, which is expected to fuel the product demand.

Asia Pacific was the largest consumer of the product in 2018 due to large scale production of soy bean in major countries like ChinaIndiaJapan, and Hong Kong. China was the major consumer in the entire world in 2018. North America is anticipated to witness substantial growth in light of increasing awareness of soy benefits and consumption of non-dairy alternatives. In Europe, many German manufacturers are engaged in utilizing the health benefits of the product to make various dairy products like cheese and butter. This is expected to drive the market owing to product offerings based on soy milk.

Grand View Research has segmented the global soy milk market on the basis of product type, application, and region:

  • Soy Milk Product Type Outlook (Revenue, USD Billion, 2015 – 2025)
    • Unflavored
    • Flavored
  • Soy Milk Application Outlook (Revenue, USD Billion, 2015 – 2025)
    • Desserts
    • Cheese & Snacks
    • Beverages
  • Soy Milk Regional Outlook (Revenue, USD Billion, 2015 – 2025)
    • North America
      • U.S.
    • Europe
      • Germany
      • U.K.
    • Asia Pacific
      • China
      • India
    • Central & South America
      • Brazil
    • MEA

Find more research reports on Consumer Goods Industry, by Grand View Research:

  • Lactose-Free Infant Formula Market – The lactose-free infant formula market growth is attributed to growing population of lactose intolerant newborns, coupled with increasing number of working women at the global level. It has been observed that newborns with inability to digest sugar level are increasing
  • Vegan Food Market – Increasing awareness about the benefits of following vegan diet is the key factor responsible for the growth of this market.
  • Coconut Products Market – Increasing awareness regarding the benefits associated with the products coupled with growing demand from major developed countries such as Europe and North America is expected to drive the demand of Coconut Products.

Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports

SOURCE: Grand View Research, Inc.

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Artificial Intelligence

Mercari Opens Cambridge Engineering Offices

Vlad Poptamas

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Mercari, The Selling App, today announced the opening of engineering offices in Cambridge, MA, advised by two renowned professors at the adjacent Massachusetts Institute of Technology (MIT).

Mercari is the number-one marketplace in Japan. Since entering the U.S. in 2014, more than 45 million Americans have downloaded the app.

At the moment, Mercari’s team in Cambridge is focused on better understanding sellers and buyers, and predicting their intentions ahead of their actions. This helps Mercari deliver a more personalized experience using its recommendation engine. The team is applying machine learning on massive amounts of data to better personalize the user experience based on their preferences, history and interactions.

More broadly, this team is pursuing applied research projects in machine learning, computer vision and other emerging technologies that can help Mercari to make selling even easier than buying.

“Opening the Mercari engineering offices in Cambridge is an important addition to our global technology centers in Palo Alto and Tokyo,” said Dr. Mok Oh, chief technology officer for Mercari U.S. “The expectations of Mercari sellers and buyers are always evolving, so it’s vital that we harness emerging technologies to continuously improve our app and services.”

Advising the team are Dr. Frédo Durand and Dr. Wojciech Matusik of MIT.

Dr. Frédo Durand is a renowned researcher and professor in computer vision and computational photography. He is a professor of Electrical Engineering and Computer Science at MIT, and a member of MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL).

Dr. Wojciech Matusik is widely-recognized professor and entrepreneur in machine learning, 3D vision, and 3D fabrications. He is a professor of Electrical Engineering and Computer Science at the Computer Science and Artificial Intelligence Laboratory (CSAIL) at MIT, where co-directs the Computer Graphics Group and teaches machine learning courses

Mercari is looking for talented people to join its technology teams in Palo Alto and Cambridge. A list of all current U.S. openings is here.

 

SOURCE Mercari

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Artificial Intelligence

Chinsay’s Intelligent Contract Platform Enables Rio Tinto & Cargill to Complete the First Fully Digitalised Iron Ore Trade

Vlad Poptamas

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Photo source: salestechstar.com
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Chinsay, the leading provider of contract digitalisation solutions in the commodity and freight markets, is announcing today the completion of the first fully digitalised iron ore trade, through a trial achieved in partnership with Rio Tinto and Cargill‘s Metals business on Chinsay’s Intelligent Contract Platform (ICP).

In using ICP, Rio Tinto and Cargill collaborated on a single platform to dramatically reduce the time it takes to create, issue and approve commodity contracts from several days to under two hours. The digitalisation of this fundamental trade process creates the opportunity to automate and deliver post-trade efficiencies by linking front-, middle- and back-office functions.

Colin Hayward, Chinsay CEO, said: “This is a technological milestone for the industry, and we are delighted Rio Tinto and Cargill Metals chose to partner with us and use our ICP as the core technology to create this advance. We are constantly collaborating with clients, market participants, tech vendors and industry consortia to extend digitalisation further along the commodity trade lifecycle.”

“The Intelligent Contract Platform is a great tool that has the potential to benefit the entire ferrous industry,” said Lee Kirk, Managing Director for Cargill’s Metals business. “This is a great example of how we can leverage advancements in technology to benefit from increased speed, transparency and efficiencies that enable us to serve our customers and suppliers better.”

ICP is state-of-the-art technology which allows companies to digitalise pre-trade processes early in the deal lifecycle, creating an agreed contract dataset that can be seamlessly integrated with other operational systems, functions and processes, enabling transparency and traceability across the supply chain.  ICP prepares clients for the use of technologies such as blockchain, ML, AI and electronic trade documentation solutions.

 

SOURCE Chinsay

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Cannabis

Trulieve CEO Kim Rivers Named to Florida Medical Marijuana Advisory Committee

Vlad Poptamas

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Trulieve Cannabis Corp. (“Trulieve” or the “Company”) (CSE: TRUL) CEO Kim Rivers has been appointed to the newly-established Medical Marijuana Advisory Committee for the State of Florida. This committee will collaborate with the Florida Department of Agriculture and Consumer Services to help enhance the medical marijuana policies of the state.

“Every day, our Trulieve team helps to bring relief to thousands of people suffering from a range of debilitating ailments and improve their quality of life,” said Kim Rivers, CEO of Trulieve. “I am honored to be a part of this important initiative led by Commissioner Nikki Fried to further develop patient access and advance policies related to medical marijuana in Florida.”

The Florida Department of Agriculture and Consumer Services has stated that the committee will convene telephonically and in-person bi-monthly to work through ways to expand patient access, increase innovation and technology in the industry, and make recommendations to the Legislature and the Department of Health’s Office of Medical Marijuana Use to improve Florida’s medical marijuana policies and programs. The 18-member committee is comprised of representatives with a diverse range of backgrounds, including medical marijuana production and sales, science and medicine, law, medical marijuana patients, cannabis activists, and public affairs.

 

SOURCE Trulieve Cannabis Corp.

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