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Soy-Based Infant Formula Market Report and Forecast 2023-2028

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    Report

  • 174 Pages
  • October 2023
  • Region: Global
  • Expert Market Research
  • ID: 5897992
According to the report, the global soy-based infant formula market is projected to grow at a CAGR of 3.5% between 2023 and 2028 to reach a value of USD 356 million by 2028. Aided by the increasing demand for lactose-free infant nutrition products and growing awareness about child health, the market is expected to grow significantly by 2028.

Soy-based infant formula is a plant-derived alternative to cow's milk formula and is designed to fully support the nutrition of infants who are not breastfeeding. It contains ample amounts of protein, vitamins, and minerals essential for a baby’s growth and development. This makes soy-based infant formula a vital option for babies with lactose intolerance, galactosemia, or for families preferring plant-based diets.

The rising emphasis on infant health and nutrition is a primary driver for the soy-based infant formula market growth. With increasing awareness about the potential complications associated with lactose intolerance and cow’s milk allergy in infants, there has been a significant shift towards lactose-free, hypoallergenic options. Soy-based infant formula provides a balanced amount of nutrients, including protein, which is essential in the early stages of development, making it a popular choice among health-conscious parents.

Moreover, soy-based infant formulas are often fortified with essential nutrients such as DHA and ARA (types of Omega-3 fatty acids) that are crucial for brain and eye development, further increasing their appeal as a wholesome nutritional solution.

The growing popularity of plant-based diets and the surge in veganism worldwide are contributing to the soy-based infant formula market demand. With the shift towards sustainability and ethical consumption, parents are increasingly seeking vegan and plant-based alternatives in all areas of life, including infant nutrition. This trend aligns well with the soy-based infant formula market, positioning it as a product of choice for vegan families and those looking to reduce their reliance on animal products.

The Asia Pacific region is expected to hold a significant portion of the soy-based infant formula market share due to increasing birth rates and growing awareness about infant health in countries like China and India. In developed regions such as North America and Europe, market growth is driven more by increasing consumer demand for plant-based alternatives and the high prevalence of lactose intolerance among populations.

Market Segmentation

The market can be divided based on application and region.

Market Breakup by Application

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

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global soy-based infant formula market.

Some of the major players explored in the report are as follows:

  • Abbott Laboratories
  • Nestlé SA
  • Reckitt Benckiser Group Plc
  • Others

About the Analyst

Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.

These high-quality, data-driven analysis provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.

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The analyst always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.

Table of Contents

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Soy-Based Infant Formula Market Analysis
8.1 Key Industry Highlights
8.2 Global Soy-Based Infant Formula Historical Market (2018-2022)
8.3 Global Soy-Based Infant Formula Market Forecast (2023-2028)
8.4 Global Soy-Based Infant Formula Market by Application
8.4.1 12-36 Months
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 6-12 Months
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 0-6 Months
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Global Soy-Based Infant Formula Market by Region
8.5.1 Market Share
8.5.1.1 North America
8.5.1.2 Europe
8.5.1.3 Asia Pacific
8.5.1.4 Latin America
8.5.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Abbott Laboratories
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Nestlé SA
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Reckitt Benckiser Group Plc
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Soy-Based Infant Formula Market: Key Industry Highlights, 2018 and 2028
2. Global Soy-Based Infant Formula Historical Market: Breakup by Application (USD Million), 2018-2022
3. Global Soy-Based Infant Formula Market Forecast: Breakup by Application (USD Million), 2023-2028
4. Global Soy-Based Infant Formula Historical Market: Breakup by Region (USD Million), 2018-2022
5. Global Soy-Based Infant Formula Market Forecast: Breakup by Region (USD Million), 2023-2028
6. North America Soy-Based Infant Formula Historical Market: Breakup by Country (USD Million), 2018-2022
7. North America Soy-Based Infant Formula Market Forecast: Breakup by Country (USD Million), 2023-2028
8. Europe Soy-Based Infant Formula Historical Market: Breakup by Country (USD Million), 2018-2022
9. Europe Soy-Based Infant Formula Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Asia Pacific Soy-Based Infant Formula Historical Market: Breakup by Country (USD Million), 2018-2022
11. Asia Pacific Soy-Based Infant Formula Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Latin America Soy-Based Infant Formula Historical Market: Breakup by Country (USD Million), 2018-2022
13. Latin America Soy-Based Infant Formula Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Middle East and Africa Soy-Based Infant Formula Historical Market: Breakup by Country (USD Million), 2018-2022
15. Middle East and Africa Soy-Based Infant Formula Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Global Soy-Based Infant Formula Market Structure

Companies Mentioned

  • Abbott Laboratories
  • Nestlé SA
  • Reckitt Benckiser Group Plc

Methodology

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Table Information