Global Soy Milk Infant Formula Market – Industry Trends and Forecast to 2029

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Soy Milk Infant Formula Market Analysis and Size

Parents expect the highest safety and quality standards in infant nutrition. Key market players are constantly reformulating products to make them more appealing to both parents and infants. The growing working-women population and the organized retail market, particularly in developing economies, are expected to drive market growth over the forecast period.

Data Bridge Market Research analyses that the soy milk infant formula market was valued at USD 241.11 million in 2021 and is expected to reach the value of USD 399.04 million by 2029, at a CAGR of 6-50% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Soy Milk Infant Formula Market Scope and Segmentation

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Market Definition

Soy-based formula is an infant food made with soy protein and other ingredients. It is given to infants as a supplement or replacement for human milk or cow milk formula. Soy-based formulas provide alternative galactosemia for infants who cannot safely consume breast milk or milk-based formulas. While most infants are born with the enzyme lactase and can digest proteins from milk, a tiny percentage cannot. Soy protein isolate-based infant formulas are frequently used as an alternative to cow-based formulas.

Global Soy Milk Infant Formula Market Dynamics

Drivers

• Health benefits associated with soy derived infant formula

Soy is an excellent organic source of vital nutrients required for development and overall health. Populations with diets high in soy protein and low in animal protein have been found to have lower risks of prostate and breast cancer than other populations. Soy is widely recognized as a complete source of high-quality dietary proteins. Vegetarians, children, and mature adults who cannot tolerate animal protein, including cow milk, typically consume it. Infants who consume 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 in brain development and memory enhancement

The high adoption of soy milk infant formula as it aids in the development of the brain, muscles, and nervous system, among other things, and the rise in consumer awareness of the product's various benefits further influence the market. Furthermore, rapid urbanization, increased organized retail marketing, and malnutrition incidences positively impact the soy milk infant formula market.

Opportunities

The widespread availability of organic baby food in supermarkets, hypermarkets, e-commerce, and department stores contributes significantly to global market growth. The plant-based baby food market is growing due to various government initiatives related to organic food production, an increase in working women, and the growth of nuclear families.

Restraints

Lack of awareness about appropriate infant food products and the high cost of infant formula products are major restraints on the growth of the soy milk infant formula market during the forecast period.

This soy milk infant formula market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the soy milk infant formula market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Soy Milk Infant Formula Market

The government implemented lockdown measures in response to the outbreak of COVID-19 diseases and their rapid spread around the world. The government's lockdown rules caused supply chain disruptions and the complete or partial closure of manufacturing facilities and retail stores, which had a negative impact on the global organic baby food industry. However, there was a sudden increase in sales of organic baby food due to panic buying in response to the government's stay-at-home orders.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In April 2021 The Kraft Heinz Company will launch a Soy Milk Infant Formula line to provide babies with a high-quality vegan diet. This line includes three items: Saucy Pasta Stars with beans and carrot, Potato Bake with green beans and sweet garden peas, and Risotto with chickpeas and pumpkin.
• In November 2020 Nestlé S.A. will enter the frozen Soy Milk Infant Formula market with the launch of Freshful Start, an organic, simple-ingredient line of foods made with vegetables and whole grains packaged in bowls. These products are available in five different vegetable combinations.

Global Soy Milk Infant Formula Market Scope

The soy milk infant formula market is segmented on the basis of product, form and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Infant Milk Formula
• Growing-up Milk Formula
• Follow-On Milk Formula
• Specialty Baby Milk Formula

Form

• Powders
• Concentrated Liquids
• Ready-To-Use

Application

• 12-36 Months
• 6-12 Months
• 0-6 Months

Soy Milk Infant Formula Market Regional Analysis/Insights

The soy milk infant formula market is analysed and market size insights and trends are provided by country, product, form and application as referenced above.

The countries covered in the soy milk infant formula market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

Asia-Pacific (APAC) dominated the soy milk infant formula market, and it is expected to grow at the fastest growth rate in the near future. This will be primarily due to high birth rates, increasing female labour force participation, rising disposable income, increased public awareness of soy milk infant Formula, and extensive research and development (R&D) by various companies in the baby food products segment.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Soy Milk Infant Formula Market Share Analysis

The soy milk infant formula market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to soy milk infant formula market.

Some of the major players operating in the soy milk infant formula market are:

• Nestlé S.A. (Switzerland)
• Danone S.A. (France)
• Reckitt Benckiser Group plc (U.K.)
• Abbott (U.S.)
• China Feihe Limited (China)
• HiPP  (Germany)
• The Kraft Heinz Company (U.S.)
• Hero Group (Switzerland)
• Yili Industrial Group Co. Ltd. (China)
• Kewpie Corporation (Japan)
• Royal FrieslandCampina N.V. (Netherlands)

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