Global Soy-Based Infant Formula Market – Industry Trends and Forecast to 2030

Global Soy-Based Infant Formula Market, By Product Type (Stage 1, Stage 2, Stage 3, Stage 4, Toddler Baby), Type (Low Fat Soy-based Infant Formula, Whole-fat Soy-based Infant Formula), Application (0 to 3 Months, 4 to 7 Months, 8 to 11 Months, 12 to 23 Months, 24 Months & Up), Distribution Channel (Online, Offline) – Industry Trends and Forecast to 2030.

Soy-Based Infant Formula Market Analysis and Size

The increasing inclination of consumers towards vegetarian diets and vegan food, eliminating consumption of animal protein including enzyme lactase from their babies’ diet will enhance the market growth. The increasing occurrences of allergy to cow’s milk among babies is set to propel the demand of soy-based infant formula. This represents the Global Soy-based Infant Formula Industry Outlook. The “low fat soy-based infant formula” is expected to be fastest growing type segment during the forecast period due to the increasing application of low fat soy-based infant formula in baby nutrition with the baby’s weight being under control.

Data Bridge Market Research analyses that the soy-based infant formula market was valued at USD 288.41 million in 2022 and is expected to reach USD 397.76 million by 2030, registering a CAGR of 4.10% during the forecast period of 2022 to 2030. 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-Based Infant Formula Market Scope and Segmentation

Market Definition

Soy formula is generally consumed by the infants and also used as an alternative for the human breast milk. They are mainly based on the protein nutrients highly found in soybeans and are available in both powered and liquid form. They are generally given to the babies when they are affected to the cow milk. These soy formulas are cheaper as compared to the other breast milk alternatives.

Soy-Based Infant Formula Market Dynamics

Drivers

• Increasing benefits of soy-based infant formula

Soy infant formulas are currently involved 20-25% of formula-fed infants in America. Soy is the beneficial in nature, especially for those people who cannot tolerate cow’s milk. It comprises vital nutrients such as proper amount of B vitamins, iron, protein, calcium, and zinc. Dissimilar to cow’s milk, soy formula is easily reduced into saturated fat and it is also cholesterol-free. Soy is an organic and excellent source of vital nutrients essential for the baby's growth and development. Those populations consuming soy-based products have been recorded to have fewer chances of breast and prostate cancers than other populations. It is well predictable that soy provides a complete source of high-quality dietary proteins. It is normally consumed by vegetarians, children and mature grown-ups who cannot endure animal protein. Thus, the increasing benefits of soy-based Infant formula are expected to increase the growth of the global soy-based infant formula market during the forecast period 2023-2030.

Opportunities

• Rising applications of soy-based infant formula

Soy-based infant formulas generally contained 1.65-1.9 g/100 mL of protein content. Soy can be a life-saver for babies because they need a non-milk-based formula and in soy-based infant formulas exhibit lactose intolerance. Moreover, soy-based infant formulas easily digest and therefore soy is a gentle, plant-based substitute that can be a perfect option for sensitive stomachs such as infant stomachs. Numerous newborns have gas and fussiness, which can be relieved by using a soy formula. Earth’s Finest Plant Based Infant Formula named Non-GMO is the excellent soy formula on the market. The soy formula comprises phytoestrogens.  Many parents declare that the soy-based infant formula has helped to removed or reduce constipation in their baby. Thus, the increasing applications of soy-based infant formula are expected to create immense opportunities for the growth of market during the forecast period 2023-2030.

Restraints/ Challenges

• High cost of camel milk products

The consumption of soy formula can cause diarrhoea and stomach pain which will acts as the major market restraint, and will further challenge the growth of the global soy-based infant formula market during the forecast period. The risk associated with the infant having allergy to soy which may also hamper the market growth during the forecast period.

This soy-based 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-based 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.

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.

Global Soy-Based Infant Formula Market Scope

The soy-based infant formula market is segmented on the basis product type, type, application and distribution channel. 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 Type

• Stage 1
• Stage 2
• Stage 3
• Stage 4
• Toddler Baby

 Type

• Low Fat Soy-based Infant Formula
• Whole-fat Soy-based Infant Formula

 Application

• 0 to 3 Months
• 4 to 7 Months
• 8 to 11 Months
• 12 to 23 Months
• 24 Months & Up

Distribution Channel

• Online
• Offline

Soy-Based Infant Formula Market Regional Analysis/Insights

The soy-based infant formula market is analyzed and market size insights and trends are provided by country, product type, type, application and distribution channel as referenced above.

The countries covered in the soy-based 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 dominates the soy-based infant formula market in terms of revenue and market share. This is mainly owing to rise in the availability of breastmilk banks. Furthermore, increase in the awareness about brand name, nutrition and safety among consumer will enhane the market growth rate in this region.

North America is expected to be the fastest developing region during the forecast period of 2023-2030 due to some factors such as rising application of soy-based infant formula comprising phytoestrogens in infant nutrition in this region.

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-Based Infant Formula Market Share Analysis

The soy-based 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-based infant formula market.

Some of the major players operating in the soy-based 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)
• Arla Foods amba (Denmark)
• The Honest Company, Inc (U.S.)
• Woolworths Group Limited (India)
• Nutricia North America (U.S.)
• Mead Johnson & Company, LLC (U.S.)
• Kerry Group PLC (Ireland)
• MyOrganicCo (U.S.)