Industry Analysis & Industry Trends
The Soy and Almond Milk Production industry has benefited from the health and wellbeing movement, which has led to an increase in the popularity of non-dairy beverages such as soy and almond milk. Soy milk accounts for the lion's share of industry revenue, due to its superior nutritional qualities of being high in protein and low in sodium and saturated fats. Smaller segments, such as almond, rice and coconut milk, have also grown rapidly, but account for only a small share of industry revenue. Other sociological and biological factors are driving industry revenue. Vegetarianism and veganism are gaining momentum, and the incidences of lactose intolerance and food allergies are growing. The high levels of brand loyalty in the industry have resulted in greater value addition... purchase to read more
Industry Report - Industry Key Buyers Chapter
There is a high and increasing level of competition within the industry with Vitasoy and Sanitarium's products accounting for over 90% of the industry. This means that competition between different brands of soy and grain milk products is fierce given the high level of marketing and advertising deployed by both major companies to maintain and grow market share.
There is also a growing level of import competition as demonstrated by the success of international brands such as Bon Soy among Australian consumers and within the food service market. Imports are expected to grow over the next five years meaning that existing operators will need to work hard to maintain and grow their market share... purchase to read more