Soy Based Infant Formula Market
Soy-Based Infant Formula Market Forecasts to 2032 - Global Analysis By Product Type (Low-Fat Soy, Based Infant Formula, Whole-Fat Soy-Based Infant Formula, Organic Soy-Based Infant Formula, Non-GMO Soy-Based Infant Formula, Therapeutic Formulas, and Other Product Types), Form, Age Group, Distribution Channel, End User and By Geography
|
Years Covered |
2024-2032 |
|
Estimated Year Value (2025) |
US $291.18 MN |
|
Projected Year Value (2032) |
US $639.70 MN |
|
CAGR (2025-2032) |
11.9% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Soy-Based Infant Formula Market is accounted for $291.18 million in 2025 and is expected to reach $639.70 million by 2032 growing at a CAGR of 11.9% during the forecast period. Soy-based infant formula is a plant-based alternative to cow's milk formula, designed for infants who are lactose intolerant, allergic to cow's milk protein, or whose families prefer a vegetarian or vegan diet. Made from soy protein isolate and fortified with essential nutrients, it supports normal growth and development. While nutritionally adequate, it is typically recommended under medical guidance, especially for infants with specific dietary needs or health conditions.
Market Dynamics:
Driver:
Rising vegan & vegetarian preferences
As more parents opt for plant-based diets, the demand for soy-based infant formula is increasing. The growing awareness of health benefits associated with vegan and vegetarian diets is driving market expansion. Additionally, concerns over dairy allergies and lactose intolerance have led to a preference for soy-based alternatives. Regulatory support for plant-based nutrition is further boosting adoption. Manufacturers are responding with innovative soy-based formulations to meet consumer needs. As a result, the market is witnessing steady growth in demand for non-dairy infant nutrition solutions.
Restraint:
Competition from alternative formulas
Despite the rising preference for soy-based formulas, competition from other plant-based and organic alternatives poses a challenge. Almond, oat, and rice-based formulas are emerging as substitutes, drawing consumers away from soy options. Additionally, hydrolyzed protein formulas cater to infants with sensitivities, limiting soy-based formula adoption. Concerns over phytoestrogen content in soy formula have prompted some parents to seek alternatives. Regulatory scrutiny on soy-based formulas adds further complexity to market expansion.
Opportunity:
Global urbanization & disposable income
Rising urbanization is fueling an increase in working parents who seek convenient and nutritious infant formula solutions. Higher disposable income enables parents to afford premium soy-based formulas with enhanced nutritional profiles. Growing awareness of sustainable and ethical sourcing is influencing purchasing decisions. Expanding distribution networks in urban centers allow for greater product availability. E-commerce platforms are playing a significant role in boosting global accessibility. As consumer preferences evolve, manufacturers have an opportunity to expand market reach through targeted innovations.
Threat:
High production costs
The production of soy-based infant formula entails high costs due to strict quality and safety standards. Sourcing non-GMO soybeans for infant nutrition adds to raw material expenses. Complex processing and formulation requirements further increase manufacturing costs. Regulatory compliance and certifications demand significant investment from producers. Price sensitivity among consumers may limit market growth potential.
Covid-19 Impact
The pandemic disrupted supply chains, affecting the availability of soy-based infant formula globally. Panic-buying and stockpiling during lockdowns led to temporary shortages. Increased focus on health and nutrition heightened demand for plant-based alternatives. E-commerce sales surged as parents sought online purchasing options for formula supplies. Manufacturers adapted by enhancing production capabilities and optimizing distribution channels. The post-pandemic period is likely to see continued investment in resilient supply chain strategies.
The powdered formula segment is expected to be the largest during the forecast period
The powdered formula segment is expected to account for the largest market share during the forecast period, due to its convenience and longer shelf life. Parents prefer powdered formulas for their affordability and ease of storage. Advances in formulation technology have improved the taste and digestibility of soy-based powdered formulas. The segment benefits from strong distribution networks across supermarkets and pharmacies. Increasing product innovations with organic and fortified variants are driving further adoption.
The hospitals segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the hospitals segment is predicted to witness the highest growth rate, due to increasing cases of lactose intolerance among newborns. Pediatricians recommend soy-based alternatives for infants allergic to cow’s milk protein. Hospitals play a crucial role in promoting specialized infant formulas through early nutrition programs. Rising healthcare investments support the availability of medically recommended formula solutions. Partnerships between healthcare providers and formula manufacturers are strengthening market penetration.
Region with largest share:
During the forecast period, the Asia Pacific region is expected to hold the largest market share due to growing awareness of plant-based nutrition. Rapid urbanization and increasing disposable income contribute to higher adoption rates. Expanding infant population and concerns over lactose intolerance drive demand for soy-based formulas. The region's strong retail network facilitates widespread product distribution. Government initiatives promoting infant nutrition further support market growth.
Region with highest CAGR:
Over the forecast period, the North America region is anticipated to exhibit the highest CAGR, owing to its advanced healthcare infrastructure. The presence of leading formula manufacturers boosts innovation and product development. Rising consumer preference for non-dairy alternatives is fuelling market expansion. Regulatory support for infant nutrition encourages growth in soy-based formula adoption. Increasing awareness of allergen-free options is influencing purchasing decisions.
Key players in the market
Some of the key players profiled in the Soy-Based Infant Formula Market include Abbott Laboratories, Danone S.A., Nestlé S.A., Reckitt Benckiser Group plc, Perrigo Company plc, The Kraft Heinz Company, FrieslandCampina, HiPP GmbH & Co. Vertrieb KG, The Hain Celestial Group, Inc., Else Nutrition Holdings Inc., Nature's One, Arla Foods, Beingmate Baby & Child Food Co., Ltd., China Feihe Limited, and Nutribray.
Key Developments:
In May 2025, Else Nutrition Holdings Inc. is excited to announce its expanded footprint in the U.S. retail market with the launch of its Ready-to-Drink (RTD) products in a leading grocery retail chain. Starting May 2025, Else's clean-label Kids RTD products are available in 1,000 stores nationwide.
In April 2024, Perrigo Company plc announced that Opill® the first-ever daily birth control pill available without a prescription in the U.S. and the Women’s National Basketball Association (WNBA) have entered a multi-year partnership that focuses on building confidence, strength and health equity, all of which closely align with both organizations’ core priorities.
Product Types Covered:
• Low-Fat Soy-Based Infant Formula
• Whole-Fat Soy-Based Infant Formula
• Organic Soy-Based Infant Formula
• Non-GMO Soy-Based Infant Formula
• Therapeutic Formulas
• Other Product Types
Forms Covered:
• Powdered Formula
• Ready-to-Feed Formula
• Liquid Concentrate
Age Groups Covered:
• Retail 0–6 Months
• 6–12 Months
• 12–24 Months
Distribution Channels Covered:
• Supermarkets and Hypermarkets
• Hospitals & Clinics
• Pharmacies/Drug Stores
• Specialty Stores
• Online Retail
End Users Covered:
• Households
• Day-care Centers
• Hospitals
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Soy-Based Infant Formula Market, By Product Type
5.1 Introduction
5.2 Low-Fat Soy-Based Infant Formula
5.3 Whole-Fat Soy-Based Infant Formula
5.4 Organic Soy-Based Infant Formula
5.5 Non-GMO Soy-Based Infant Formula
5.6 Therapeutic Formulas
5.7 Other Product Types
6 Global Soy-Based Infant Formula Market, By Form
6.1 Introduction
6.2 Powdered Formula
6.3 Ready-to-Feed Formula
6.4 Liquid Concentrate
7 Global Soy-Based Infant Formula Market, By Age Group
7.1 Introduction
7.2 0–6 Months
7.3 6–12 Months
7.4 12–24 Months
8 Global Soy-Based Infant Formula Market, By Distribution Channel
8.1 Introduction
8.2 Supermarkets and Hypermarkets
8.3 Hospitals & Clinics
8.4 Pharmacies/Drug Stores
8.5 Specialty Stores
8.6 Online Retail
9 Global Soy-Based Infant Formula Market, By End User
9.1 Introduction
9.2 Households
9.3 Daycare Centers
9.4 Hospitals
9.5 Other End Users
10 Global Soy-Based Infant Formula Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Abbott Laboratories
12.2 Danone S.A.
12.3 Nestlé S.A.
12.4 Reckitt Benckiser Group plc
12.5 Perrigo Company plc
12.6 The Kraft Heinz Company
12.7 FrieslandCampina
12.8 HiPP GmbH & Co. Vertrieb KG
12.9 The Hain Celestial Group, Inc.
12.10 Else Nutrition Holdings Inc.
12.11 Nature's One
12.12 Arla Foods
12.13 Beingmate Baby & Child Food Co., Ltd.
12.14 China Feihe Limited
12.15 Nutribray
List of Tables
1 Global Soy-Based Infant Formula Market Outlook, By Region (2024-2032) ($MN)
2 Global Soy-Based Infant Formula Market Outlook, By Product Type (2024-2032) ($MN)
3 Global Soy-Based Infant Formula Market Outlook, By Low-Fat Soy-Based Infant Formula (2024-2032) ($MN)
4 Global Soy-Based Infant Formula Market Outlook, By Whole-Fat Soy-Based Infant Formula (2024-2032) ($MN)
5 Global Soy-Based Infant Formula Market Outlook, By Organic Soy-Based Infant Formula (2024-2032) ($MN)
6 Global Soy-Based Infant Formula Market Outlook, By Non-GMO Soy-Based Infant Formula (2024-2032) ($MN)
7 Global Soy-Based Infant Formula Market Outlook, By Therapeutic Formulas (2024-2032) ($MN)
8 Global Soy-Based Infant Formula Market Outlook, By Other Product Types (2024-2032) ($MN)
9 Global Soy-Based Infant Formula Market Outlook, By Form (2024-2032) ($MN)
10 Global Soy-Based Infant Formula Market Outlook, By Powdered Formula (2024-2032) ($MN)
11 Global Soy-Based Infant Formula Market Outlook, By Ready-to-Feed Formula (2024-2032) ($MN)
12 Global Soy-Based Infant Formula Market Outlook, By Liquid Concentrate (2024-2032) ($MN)
13 Global Soy-Based Infant Formula Market Outlook, By Age Group (2024-2032) ($MN)
14 Global Soy-Based Infant Formula Market Outlook, By 0–6 Months (2024-2032) ($MN)
15 Global Soy-Based Infant Formula Market Outlook, By 6–12 Months (2024-2032) ($MN)
16 Global Soy-Based Infant Formula Market Outlook, By 12–24 Months (2024-2032) ($MN)
17 Global Soy-Based Infant Formula Market Outlook, By Distribution Channel (2024-2032) ($MN)
18 Global Soy-Based Infant Formula Market Outlook, By Supermarkets and Hypermarkets (2024-2032) ($MN)
19 Global Soy-Based Infant Formula Market Outlook, By Hospitals & Clinics (2024-2032) ($MN)
20 Global Soy-Based Infant Formula Market Outlook, By Pharmacies/Drug Stores (2024-2032) ($MN)
21 Global Soy-Based Infant Formula Market Outlook, By Specialty Stores (2024-2032) ($MN)
22 Global Soy-Based Infant Formula Market Outlook, By Online Retail (2024-2032) ($MN)
23 Global Soy-Based Infant Formula Market Outlook, By End User (2024-2032) ($MN)
24 Global Soy-Based Infant Formula Market Outlook, By Households (2024-2032) ($MN)
25 Global Soy-Based Infant Formula Market Outlook, By Daycare Centers (2024-2032) ($MN)
26 Global Soy-Based Infant Formula Market Outlook, By Hospitals (2024-2032) ($MN)
27 Global Soy-Based Infant Formula Market Outlook, By Other End Users (2024-2032) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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