Soy and Almond Milk Production in Australia - Industry Market Research Report

Soy and Almond Milk Production in Australia

Soy and almond milk producers have benefited from rising consumer demand over the past five years. Revenue has increased at an annualised 4.8% over the five years through 2022-23, to $464.6 million. This includes growth of 3.2% in 2022-23. Increasing health consciousness has boosted the popularity of non-dairy beverages, like soy and almond milk. Soy milk accounts for most of the industry's revenue, because of its long-standing position in the industry but demand is falling among food-service establishments and their patrons in favour of oat milk.

Companies in the industry manufacture non-dairy milk substitute beverages. These products are usually plant-based and may be made from soybeans, almonds, hemp, coconut, rice or oats.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.