Market Overview:
The global soy-based formula breast milk substitute market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing awareness about the benefits of soy-based formulas over cow’s milk formulas, rising number of working women, and growing demand for organic products. Based on type, the powdered segment is expected to account for a major share of the global soy-based formula breast milk substitute market in 2018. This can be attributed to its easy availability and low cost as compared to other types of soy-based formulas. Based on application, pharmacies are expected to account for a major share of the global soy-based formula breast milk substitute market in 2018.
Product Definition:
A soy-based formula is a breast milk substitute that is made from soybeans. It is often used to feed infants who are not able to drink regular cow's milk. Soy-based formulas are important because they can help prevent some health problems, such as allergies and asthma.
Powdered:
Powdered is a dry form of the liquid, which is made by evaporating the water content in various food products. It has high nutritional value and can be used as an alternative for breast milk. Powdered formula contains all the nutrients that are present in human milk and hence it's usage increases among lactating mothers who cannot provide their child with breast milk, or whose breastfeeding relationship was cut off due to any reason.
Concentrated Liquid:
Concentrated liquid is a combination of amino acids, vitamins and minerals that are extracted from breast milk. It helps in maintaining the water content in the body along with providing energy to the baby. Soy-based formula is prepared by using concentrated liquid as a base ingredient.
The substitute for breast milk provides all essential nutrients to infants.
Application Insights:
The retail stores application segment accounted for the largest share of over 50% in 2017. The growth can be attributed to growing awareness among new mothers about the product availability at convenient locations near their homes. Furthermore, supermarkets and hypermarkets are increasingly stocking these products due to increasing consumer preference for on-the-go food products.
The pharmacies application segment is expected to witness significant growth over the forecast period owing to rising awareness regarding soy formula among healthcare professionals and pharmacists as an alternative therapy for various diseases in infants such as allergies, asthma, digestive problems, skin disorders etc. Moreover, a rise in number of vegan population has increased demand for soy milk which is used as a substitute for breast milk by mixing it with other liquids such as water or fruit juices.
Regional Analysis:
North America accounted for the largest share of over 35.0% in 2017. The region is expected to maintain its lead throughout the forecast period owing to growing awareness among people about soy-based formula and increasing number of companies manufacturing these products. In addition, presence of a large number of hospitals and pediatricians that promote breast milk substitutes as an alternative for breastfeeding is also expected to drive growth in this region.
Asia Pacific is anticipated to be the fastest-growing regional market from 2018 to 2030 due rising awareness about soy-based formula among new mothers who are looking for alternatives that are safe, affordable,.
Growth Factors:
- Increasing awareness about the benefits of soy-based formula milk substitutes over traditional cow’s milk for infants.
- Rising disposable income of parents, which enables them to invest in healthier options for their children.
- Growing number of working mothers, who prefer soy-based formula milk substitutes as they are easy to prepare and store.
- Increasing trend of veganism and lactose intolerance, which is driving demand for soy-based formula milk substitutes globally.
Scope Of The Report
Report Attributes
Report Details
Report Title
Soy-based Formula Breast Milk Substitute Market Research Report
By Type
Powdered, Concentrated Liquid, Ready-to-use
By Application
Pharmacies, Retail Stores, Others
By Companies
Danone, Nestle, Abbott Nutrition, Mead Johnson (Reckitt Benckiser), Kraft Heinz
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
233
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Soy-based Formula Breast Milk Substitute Market Report Segments:
The global Soy-based Formula Breast Milk Substitute market is segmented on the basis of:
Types
Powdered, Concentrated Liquid, Ready-to-use
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Pharmacies, Retail Stores, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Danone
- Nestle
- Abbott Nutrition
- Mead Johnson (Reckitt Benckiser)
- Kraft Heinz
Highlights of The Soy-based Formula Breast Milk Substitute Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Powdered
- Concentrated Liquid
- Ready-to-use
- By Application:
- Pharmacies
- Retail Stores
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Soy-based Formula Breast Milk Substitute Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Soy-based formula is a substitute for breast milk. It is made from soybeans, water, and vitamins and minerals. Soy-based formula can be used as an alternative to breast milk for infants who are not able to digest cow's milk or who have allergies to dairy products.
Some of the major players in the soy-based formula breast milk substitute market are Danone, Nestle, Abbott Nutrition, Mead Johnson (Reckitt Benckiser), Kraft Heinz.
The soy-based formula breast milk substitute market is expected to grow at a compound annual growth rate of 6.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Soy-based Formula Breast Milk Substitute Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Soy-based Formula Breast Milk Substitute Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Soy-based Formula Breast Milk Substitute Market - Supply Chain
4.5. Global Soy-based Formula Breast Milk Substitute Market Forecast
4.5.1. Soy-based Formula Breast Milk Substitute Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Soy-based Formula Breast Milk Substitute Market Size (000 Units) and Y-o-Y Growth
4.5.3. Soy-based Formula Breast Milk Substitute Market Absolute $ Opportunity
5. Global Soy-based Formula Breast Milk Substitute Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Soy-based Formula Breast Milk Substitute Market Size and Volume Forecast by Type
5.3.1. Powdered
5.3.2. Concentrated Liquid
5.3.3. Ready-to-use
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Soy-based Formula Breast Milk Substitute Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Soy-based Formula Breast Milk Substitute Market Size and Volume Forecast by Application
6.3.1. Pharmacies
6.3.2. Retail Stores
6.3.3. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Soy-based Formula Breast Milk Substitute Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Soy-based Formula Breast Milk Substitute Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Soy-based Formula Breast Milk Substitute Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Soy-based Formula Breast Milk Substitute Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Soy-based Formula Breast Milk Substitute Demand Share Forecast, 2019-2026
9. North America Soy-based Formula Breast Milk Substitute Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Soy-based Formula Breast Milk Substitute Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Soy-based Formula Breast Milk Substitute Market Size and Volume Forecast by Application
9.4.1. Pharmacies
9.4.2. Retail Stores
9.4.3. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Soy-based Formula Breast Milk Substitute Market Size and Volume Forecast by Type
9.7.1. Powdered
9.7.2. Concentrated Liquid
9.7.3. Ready-to-use
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Soy-based Formula Breast Milk Substitute Demand Share Forecast, 2019-2026
10. Latin America Soy-based Formula Breast Milk Substitute Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Soy-based Formula Breast Milk Substitute Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Soy-based Formula Breast Milk Substitute Market Size and Volume Forecast by Application
10.4.1. Pharmacies
10.4.2. Retail Stores
10.4.3. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Soy-based Formula Breast Milk Substitute Market Size and Volume Forecast by Type
10.7.1. Powdered
10.7.2. Concentrated Liquid
10.7.3. Ready-to-use
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Soy-based Formula Breast Milk Substitute Demand Share Forecast, 2019-2026
11. Europe Soy-based Formula Breast Milk Substitute Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Soy-based Formula Breast Milk Substitute Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Soy-based Formula Breast Milk Substitute Market Size and Volume Forecast by Application
11.4.1. Pharmacies
11.4.2. Retail Stores
11.4.3. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Soy-based Formula Breast Milk Substitute Market Size and Volume Forecast by Type
11.7.1. Powdered
11.7.2. Concentrated Liquid
11.7.3. Ready-to-use
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Soy-based Formula Breast Milk Substitute Demand Share, 2019-2026
12. Asia Pacific Soy-based Formula Breast Milk Substitute Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Soy-based Formula Breast Milk Substitute Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Soy-based Formula Breast Milk Substitute Market Size and Volume Forecast by Application
12.4.1. Pharmacies
12.4.2. Retail Stores
12.4.3. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Soy-based Formula Breast Milk Substitute Market Size and Volume Forecast by Type
12.7.1. Powdered
12.7.2. Concentrated Liquid
12.7.3. Ready-to-use
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Soy-based Formula Breast Milk Substitute Demand Share, 2019-2026
13. Middle East & Africa Soy-based Formula Breast Milk Substitute Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Soy-based Formula Breast Milk Substitute Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Soy-based Formula Breast Milk Substitute Market Size and Volume Forecast by Application
13.4.1. Pharmacies
13.4.2. Retail Stores
13.4.3. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Soy-based Formula Breast Milk Substitute Market Size and Volume Forecast by Type
13.7.1. Powdered
13.7.2. Concentrated Liquid
13.7.3. Ready-to-use
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Soy-based Formula Breast Milk Substitute Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Soy-based Formula Breast Milk Substitute Market: Market Share Analysis
14.2. Soy-based Formula Breast Milk Substitute Distributors and Customers
14.3. Soy-based Formula Breast Milk Substitute Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Danone
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Nestle
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Abbott Nutrition
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Mead Johnson (Reckitt Benckiser)
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Kraft Heinz
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. COMPANY6
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. COMPANY7
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. COMPANY8
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook