United States Soy-based Formula Breast Milk Substitute Market was valued at USD 0.5 Billion in 2022 and is projected to reach USD 1.0 Billion by 2030, growing at a CAGR of 10.2% from 2024 to 2030.
The Soy-based Formula Breast Milk Substitute Market has witnessed significant growth over the past few years, driven by increasing awareness of plant-based nutrition and the rising demand for alternatives to traditional dairy-based formulas. As more parents opt for soy-based formula as a breastfeeding substitute, the market's expansion reflects the increasing awareness and preference for non-dairy options, particularly among families with dietary concerns or lactose intolerance.
In the United States, soy-based formula is viewed as a primary choice for parents seeking an alternative to breast milk or cow's milk-based formula. It is often chosen for its potential health benefits, including the fact that soy protein is a complete protein, and it is suitable for infants with milk protein allergies. This growing demand has led to a substantial shift in the market, with many formula manufacturers expanding their product lines to include soy-based options.
The market’s development can also be attributed to industrial demands. Healthcare professionals and food industries alike have emphasized the benefits of soy-based formula as an ideal substitute for breast milk, especially for babies who cannot tolerate lactose or cow's milk. Furthermore, soy protein-based infant formula is often marketed as being more eco-friendly due to the lower carbon footprint associated with its production compared to dairy formulas.
With the growing trend of vegan and plant-based diets, soy-based formula has also garnered attention from parents who prefer plant-based alternatives for their children. This has led to an increasing requirement from industries to innovate and provide nutritional formulas that align with these preferences. The industry's focus on producing higher-quality, fortified soy-based formulas to meet the specific needs of infants is a key market driver.
Additionally, industry regulations and research into the nutritional content of soy-based formulas have helped shape product offerings. As more scientific evidence supports the viability of soy formula as a suitable breast milk substitute, it is expected that demand from both consumers and manufacturers will continue to rise, fostering a competitive market environment.
The Soy-based Formula Breast Milk Substitute Market is projected to see continued growth, driven by both changing consumer preferences and the evolving demands from industries that prioritize healthier, more sustainable infant nutrition options.
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Danone
Nestle
Abbott Nutrition
Mead Johnson (Reckitt Benckiser)
Kraft Heinz
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US Soy-based Formula Breast Milk Substitute Market
Powdered Soy-based Formula
Liquid Soy-based Formula
Concentrated Soy-based Formula
Infants (0-6 months)
Infants (6-12 months)
Toddlers (12-36 months)
Supermarkets/Hypermarkets
Specialty Stores
Online Retailers
Pharmacies/Drugstores
Cans
Packets
Bottles
Organic Soy-based Formula
Non-organic Soy-based Formula
Fortified Soy-based Formula
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US Soy-based Formula Breast Milk Substitute Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US Soy-based Formula Breast Milk Substitute Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Soy-based Formula Breast Milk Substitute Market, By Type
6. US Soy-based Formula Breast Milk Substitute Market, By Application
7. US Soy-based Formula Breast Milk Substitute Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Soy-based Formula Breast Milk Substitute Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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