Global Soy Milk Infant Formula Market, By Product Type (Infant Formula, Adult Formula, Follow-on Formula, Infant Formula), By Form (Powders, Concentrated Liquids, Disposable), By Application (12-36 Months, 6 -12 Months, 0-6 months),By region (North America, Latin America, Europe, Asia. Pacific, Middle East and Africa) - Industry trends and forecast to 2030.
Global Soy Milk Infant Formula Market
Global Soy Milk Infant Formula Market is expected to reach USD 241.12 million by 2022, which will reach USD 399.03 million in 2030, registering a CAGR of 6.49% during the forecast period 2023-2030.
Soy-based formula is baby food made from soy protein and other ingredients. It is given to babies as an additive or substitute for breast milk or cow's milk formula. Soy-based infant formulas offer an alternative for galactosemic infants who cannot safely use breast milk or milk-based formulas. Although most babies are born with the enzyme lactase and can digest proteins from milk, a small number cannot. Soy protein isolate-based infant formula is often used as an alternative to cow-based infant formula.
Market Drivers
Health benefits of soy-based infant formula Soy is an excellent organic source of essential nutrients for development and overall health. Populations with diets high in soy protein and low in animal protein have been found to have a lower risk of prostate and breast cancer than other populations. Soy is widely recognized as a perfect source of high-quality dietary protein. It is commonly consumed by vegetarians, children and mature adults who are intolerant to animal proteins, including cow's milk. Babies on soy formula have high levels of phytoestrogen isoflavones in their blood. As a result of the growing benefits of soy-based infant formula, the global soy infant formula market is expanding. Benefits for brain development and memory improvement The widespread adoption of soy milk for infant formula, as it contributes to the development of the brain, muscles and nervous system, among other things, and the increase in consumer awareness of the various benefits of the product continue to influence the market. In addition, rapid urbanization, increase in organized retail marketing and impact of malnutrition are positively influencing the soy milk for infant formula market.
Market Restraints
Lack of awareness about proper infant formula and high price of infant formula hinder the growth of soy milk for infant formula market during the forecast period. This Soy Milk Infant Formula market report includes information on new recent developments, trade regulations, import and export analysis, production analysis, value chain optimization, market share, impact of domestic and local market players, analyzes opportunities based on new revenue pockets and changes in market regulation, strategic market growth analysis, market size, category market growth, application niches and governance, product approval, product launch, geographic expansion, technological innovations in the market.
Market Opportunities
The wide availability of organic food in supermarkets, hypermarkets, online stores and warehouses is significantly contributing to the growth of the global market. The plant-based baby food market is growing due to several government initiatives related to organic food production, increasing number of working women and nuclear families.
Impact of COVID-19
The government has implemented containment measures in response to the outbreak of the COVID-19 disease and its rapid spread around the world. Government-imposed lockdowns have led to supply chain disruptions and full or partial closures of production facilities and retail stores, which have had a negative impact on the global organic food industry. However, sales of organic baby food have spiked due to panic buying due to government stay-at-home orders.
Market Segmentation
Global Soy Milk Infant Formula Market is segmented on the basis of By Product Type, By Form, By Application
Based on the By Product Type market is segmented into Infant Formula, Adult Formula, Follow-on Formula, Infant Formula. Further market is segmented into By Form market is segmented into Powders, Concentrated Liquids, Disposable. By Application market is segmented into 12-36 Months, 6 -12 Months, 0-6 months.
Regional Analysis
Global Soy Milk Infant Formula Market is segmented into five main regions, namely, North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Asia Pacific (APAC) dominated the soy milk market for infant formula and is expected to grow fastest in the near future. This is mainly due to high birth rate, increase in female labor force participation, increase in disposable income, increased public awareness of Soy Milk Infant Formula and extensive research and development (R&D) in the infant formula segment by various companies.
Key Players.
Various key players are listed in this report such as Nestlé, Danone S.A, Reckitt Benckiser Group plc, Abbott, China Feihe Limited, HiPP, The Kraft Heinz Company, Hero Group, Yili Industrial Group Co. Ltd., Kewpie Corporation
Market Taxonomy
By Product Type
- Infant Formula
- Adult Formula
- Follow-on Formula
- Infant Formula
- Powders
- Concentrated Liquids
- Disposable
- 12-36 Months
- 6 -12 Months
- 0-6 months
- North America
- U.S.
- Canada
- Mexico
- Latin America
- Brazil
- Argentina
- Colombia
- Peru
- Chile
- Venezuela
- Rest of Latin America
- Europe
- Germany
- France
- UK
- Russia
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- New Zealand
- Singapore
- Malaysia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest Middle East & Africa
- What are the Key Opportunities in Global Soy Milk Infant Formula Market?
- What will be the growth rate from 2023 to 2030?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
- 1 Introduction
- 1.1 Objective of the Study
- 1.2 Market Definition
- 1.3 Market Scope
- 2 Research Methodology
- 2.1 Data Mining
- 2.2 Validation
- 2.3 Primary Interviews
- 2.4 List of Data Sources
- 3 Executive Summary
- 4 Global Soy Milk Infant Formula Market Outlook
- 4.1 Overview
- 4.2 Market Dynamics
- 4.2.1 Drivers
- 4.2.2 Restraints
- 4.2.3 Opportunities
- 4.2.4 Cumulative Impact due to recent Energy Crisis
- 4.2.5 Cumulative Impact due to nearing economic downturn.
- 4.2.6 Post covid-19 world Supply& Demand conditions
- 4.2.7 Cumulative Impact of Russia-Ukraine Conflict
- 4.3 Porters Five Force Model
- 4.4 Value Chain Analysis
- 5 Global Soy Milk Infant Formula Market, By Product Type
- 5.1 Y-o-Y Growth Comparison, By Product Type
- 5.2 Global Soy Milk Infant Formula Market Share Analysis, By Product Type
- 5.3 Global Soy Milk Infant Formula Market Size and Forecast, By Product Type
- 5.3.1 Infant Formula
- 5.3.2 Adult Formula
- 5.3.3 Follow-on Formula
- 5.3.4 Infant Formula
- 6 Global Soy Milk Infant Formula Market, By Form
- 6.1 Y-o-Y Growth Comparison, By Form
- 6.2 Global Soy Milk Infant Formula Market Share Analysis, By Form
- 6.3 Global Soy Milk Infant Formula Market Size and Forecast, By Form
- 6.3.1 Powders
- 6.3.2 Concentrated Liquids
- 6.3.3 Disposable
- 7 Global Soy Milk Infant Formula Market, By Application
- 7.1 Y-o-Y Growth Comparison, By Application
- 7.2 Global Soy Milk Infant Formula Market Share Analysis, By Application
- 7.3 Global Soy Milk Infant Formula Market Size and Forecast, By Application
- 7.3.1 Hospitals
- 7.3.2 Clinics
- 7.3.3 Home Care
- 7.3.4 Health and Fitness Centers
- 7.3.5 Outpatient Care
- 8 Global Soy Milk Infant Formula Market, By Region
- 8.1 Global Soy Milk Infant Formula Market Share Analysis, By Region
- 8.2 Global Soy Milk Infant Formula Market Size and Forecast, By Region
- 8.3 Global Soy Milk Infant Formula Market Trends and Forecast, By Region
- 9 North America Soy Milk Infant Formula Market Analysis and Forecast (2023-2030)
- 9.1 Introduction
- 9.2 North America Soy Milk Infant Formula Market Share Analysis, By Product Type
- 9.3 North America Soy Milk Infant Formula Market Size and Forecast, By Form
- 9.4 North America Soy Milk Infant Formula Market Size and Forecast, By Application
- 9.5 North America Soy Milk Infant Formula Market Size and Forecast, By Country
- 9.5.1 U.S.
- 9.5.1.1. Market Size and Forecast, By Product Type
- 9.5.1.2 Market Size and Forecast, By Form
- 9.5.1.3. Market Size and Forecast, By Application
- 9.5.2 Canada
- 9.5.2.1. Market Size and Forecast, By Product Type
- 9.5.2.2 Market Size and Forecast, By Form
- 9.5.2.3. Market Size and Forecast, By Application
- 9.5.3 Mexico
- 9.5.3.1. Market Size and Forecast, By Product Type
- 9.5.3.2 Market Size and Forecast, By Form
- 9.5.3.3. Market Size and Forecast, By Application
- 10 Europe Soy Milk Infant Formula Market Analysis and Forecast (2023-2030)
- 10.1 Introduction
- 10.2 Europe Soy Milk Infant Formula Market Share Analysis, By Product Type
- 10.3 Europe Soy Milk Infant Formula Market Size and Forecast, By Form
- 10.4 Europe Soy Milk Infant Formula Market Size and Forecast, By Application
- 10.5 Europe Soy Milk Infant Formula Market Size and Forecast, By Country
- 10.5.1 Germany
- 10.5.1.1. Market Size and Forecast, By Product Type
- 10.5.1.2 Market Size and Forecast, By Form
- 10.5.1.3. Market Size and Forecast, By Application
- 10.5.2 France
- 10.5.2.1. Market Size and Forecast, By Product Type
- 10.5.2.2 Market Size and Forecast, By Form
- 10.5.2.3. Market Size and Forecast, By Application
- 10.5.3 UK
- 10.5.3.1. Market Size and Forecast, By Product Type
- 10.5.3.2 Market Size and Forecast, By Form
- 10.5.3.3. Market Size and Forecast, By Application
- 10.5.4. Russia
- 10.5.4.1. Market Size and Forecast, By Product Type
- 10.5.4.2 Market Size and Forecast, By Form
- 10.5.4.3. Market Size and Forecast, By Application
- 10.5.5. Italy
- 10.5.5.1. Market Size and Forecast, By Product Type
- 10.5.5.2 Market Size and Forecast, By Form
- 10.5.5.3. Market Size and Forecast, By Application
- 10.5.6. Spain
- 10.5.6.1. Market Size and Forecast, By Product Type
- 10.5.6.2 Market Size and Forecast, By Form
- 10.5.6.3. Market Size and Forecast, By Application
- 10.5.7. Rest of Europe
- 10.5.7.1. Market Size and Forecast, By Product Type
- 10.5.7.2 Market Size and Forecast, By Form
- 10.5.7.3. Market Size and Forecast, By Application
- 11 Asia Pacific Soy Milk Infant Formula Market Analysis and Forecast (2023-2030)
- 11.1 Introduction
- 11.2 Asia Pacific Soy Milk Infant Formula Market Share Analysis, By Product Type
- 11.3 Asia Pacific Soy Milk Infant Formula Market Size and Forecast, By Form
- 11.4 Asia Pacific Soy Milk Infant Formula Market Size and Forecast, By Application
- 11.5 Asia Pacific Soy Milk Infant Formula Market Size and Forecast, By Country
- 11.5.1 China
- 11.5.1.1. Market Size and Forecast, By Product Type
- 11.5.1.2 Market Size and Forecast, By Form
- 11.5.1.3. Market Size and Forecast, By Application
- 11.5.2 Japan
- 11.5.2.1. Market Size and Forecast, By Product Type
- 11.5.2.2 Market Size and Forecast, By Form
- 11.5.2.3. Market Size and Forecast, By Application
- 11.5.3 India
- 11.5.3.1. Market Size and Forecast, By Product Type
- 11.5.3.2 Market Size and Forecast, By Form
- 11.5.3.3. Market Size and Forecast, By Application
- 11.5.4. South Korea
- 11.5.4.1. Market Size and Forecast, By Product Type
- 11.5.4.2 Market Size and Forecast, By Form
- 11.5.4.3. Market Size and Forecast, By Application
- 11.5.5. Australia
- 11.5.5.1. Market Size and Forecast, By Product Type
- 11.5.5.2 Market Size and Forecast, By Form
- 11.5.5.3. Market Size and Forecast, By Application
- 11.5.6. New Zealand
- 11.5.6.1. Market Size and Forecast, By Product Type
- 11.5.6.2 Market Size and Forecast, By Form
- 11.5.6.3. Market Size and Forecast, By Application
- 11.5.7. Singapore
- 11.5.7.1. Market Size and Forecast, By Product Type
- 11.5.7.2 Market Size and Forecast, By Form
- 11.5.7.3. Market Size and Forecast, By Application
- 11.5.8. Malaysia
- 11.5.8.1. Market Size and Forecast, By Product Type
- 11.5.8.2 Market Size and Forecast, By Form
- 11.5.8.3. Market Size and Forecast, By Application
- 11.5.9. Rest of Asia
- 11.5.9.1. Market Size and Forecast, By Product Type
- 11.5.9.2 Market Size and Forecast, By Form
- 11.5.9.3. Market Size and Forecast, By Application
- 12 Latin America Soy Milk Infant Formula Market Analysis and Forecast (2023-2030)
- 12.1 Introduction
- 12.2 Latin America Soy Milk Infant Formula Market Share Analysis, By Product Type
- 12.3 Latin America Soy Milk Infant Formula Market Size and Forecast, By Form
- 12.4 Latin America Soy Milk Infant Formula Market Size and Forecast, By Application
- 12.5 Latin America Soy Milk Infant Formula Market Size and Forecast, By Country
- 12.5.1 Brazil
- 12.5.1.1. Market Size and Forecast, By Product Type
- 12.5.1.2 Market Size and Forecast, By Form
- 12.5.1.3. Market Size and Forecast, By Application
- 12.5.2 Argentina
- 12.5.2.1. Market Size and Forecast, By Product Type
- 12.5.2.2 Market Size and Forecast, By Form
- 12.5.2.3. Market Size and Forecast, By Application
- 12.5.3. Colombia
- 12.5.3.1. Market Size and Forecast, By Product Type
- 12.5.3.2 Market Size and Forecast, By Form
- 12.5.3.3. Market Size and Forecast, By Application
- 12.5.4. Peru
- 12.5.4.1. Market Size and Forecast, By Product Type
- 12.5.4.2 Market Size and Forecast, By Form
- 12.5.4.3. Market Size and Forecast, By Application
- 12.5.5. Chile
- 12.5.5.1. Market Size and Forecast, By Product Type
- 12.5.5.2 Market Size and Forecast, By Form
- 12.5.5.3. Market Size and Forecast, By Application
- 12.5.6. Venezuela
- 12.5.6.1. Market Size and Forecast, By Product Type
- 12.5.6.2 Market Size and Forecast, By Form
- 12.5.6.3. Market Size and Forecast, By Application
- 12.5.7. rest of Latin America
- 12.5.7.1. Market Size and Forecast, By Product Type
- 12.5.7.2 Market Size and Forecast, By Form
- 12.5.7.3. Market Size and Forecast, By Application
- 13 Middle East Soy Milk Infant Formula Market Analysis and Forecast (2023-2030)
- 13.1 Introduction
- 13.2 Middle East Soy Milk Infant Formula Market Share Analysis, By Product Type
- 13.3 Middle East Soy Milk Infant Formula Market Size and Forecast, By Form
- 13.4 Middle East Soy Milk Infant Formula Market Size and Forecast, By Application
- 13.5 Middle East Soy Milk Infant Formula Market Size and Forecast, By Country
- 13.5.1. Saudi Arabia
- 13.5.1.1. Market Size and Forecast, By Product Type
- 13.5.1.2 Market Size and Forecast, By Form
- 13.5.1.3. Market Size and Forecast, By Application
- 13.5.2 UAE
- 13.5.2.1. Market Size and Forecast, By Product Type
- 13.5.2.2 Market Size and Forecast, By Form
- 13.5.2.3. Market Size and Forecast, By Application
- 13.5.3 Egypt
- 13.5.3.1. Market Size and Forecast, By Product Type
- 13.5.3.2 Market Size and Forecast, By Form
- 13.5.3.3. Market Size and Forecast, By Application
- 13.5.4 Kuwait
- 13.5.4.1. Market Size and Forecast, By Product Type
- 13.5.4.2 Market Size and Forecast, By Form
- 13.5.4.3. Market Size and Forecast, By Application
- 13.5.5 South Africa
- 13.5.5.1. Market Size and Forecast, By Product Type
- 13.5.5.2 Market Size and Forecast, By Form
- 13.5.5.3. Market Size and Forecast, By Application
- 13.5.6 Rest of Middle East & Africa
- 13.5.6.1. Market Size and Forecast, By Product Type
- 13.5.6.2 Market Size and Forecast, By Form
- 13.5.6.3 Market Size and Forecast, By Application
- 14 Competitive Analysis
- 14.1 Competition Dashboard
- 14.2 Market share Analysis of Top Vendors
- 14.3 Key Development Strategies
- 15 Company Profiles
- 15.1 Nestlé
- 15.1.1 Overview
- 15.1.2 Offerings
- 15.1.3 Key Financials
- 15.1.4 Business Segment & Geographic Overview
- 15.1.5 Key Market Developments
- 15.1.6 Key Strategies
- 15.2 Danone S.A
- 15.2.1 Overview
- 15.2.2 Offerings
- 15.2.3 Key Financials
- 15.2.4 Business Segment & Geographic Overview
- 15.2.5 Key Market Developments
- 15.2.6 Key Strategies
- 15.3. Reckitt Benckiser Group plc
- 15.3.1 Overview
- 15.3.2 Offerings
- 15.3.3 Key Financials
- 15.3.4 Business Segment & Geographic Overview
- 15.3.5 Key Market Developments
- 15.3.6 Key Strategies
- 15.4. Abbott
- 15.4.1 Overview
- 15.4.2 Offerings
- 15.4.3 Key Financials
- 15.4.4 Business Segment & Geographic Overview
- 15.4.5 Key Market Developments
- 15.4.6 Key Strategies
- 15.5 China Feihe Limited
- 15.5.1 Overview
- 15.5.2 Offerings
- 15.5.3 Key Financials
- 15.5.4 Business Segment & Geographic Overview
- 15.5.5 Key Market Developments
- 15.5.6 Key Strategies
- 15.6 HiPP
- 15.6.1 Overview
- 15.6.2 Offerings
- 15.6.3 Key Financials
- 15.6.4 Business Segment & Geographic Overview
- 15.6.5 Key Market Developments
- 15.6.6 Key Strategies
- 15.7 The Kraft Heinz Company
- 15.7.1 Overview
- 15.7.2 Offerings
- 15.7.3 Key Financials
- 15.7.4 Business Segment & Geographic Overview
- 15.7.5 Key Market Developments
- 15.7.6 Key Strategies
- 15.8 Hero Group
- 15.8.1 Overview
- 15.8.2 Offerings
- 15.8.3 Key Financials
- 15.8.4 Business Segment & Geographic Overview
- 15.8.5 Key Market Developments
- 15.8.6 Key Strategies
- 15.9 Yili Industrial Group Co. Ltd.
- 15.9.1 Overview
- 15.9.2 Offerings
- 15.9.3 Key Financials
- 15.9.4 Business Segment & Geographic Overview
- 15.9.5 Key Market Developments
- 15.9.6 Key Strategies
- 15.10 Kewpie Corporation
- 15.10.1 Overview
- 15.10.2 Offerings
- 15.10.3 Key Financials
- 15.10.4 Business Segment & Geographic Overview
- 15.10.5 Key Market Developments
- 15.10.6 Key Strategies
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