Bean counting: Falling soy bean prices have boosted industry profitability

The Soy and Almond Milk Production industry has benefited from rising consumer demand over the past five years. Industry revenue is expected to increase at an annualised 4.1% over the five years through 2018-19, to $165.8 million. This includes expected growth of 3.5% in the current year. Increasing health consciousness has boosted the popularity of non-dairy beverages, such as soy and almond milk over the period. Soy milk accounts for close to the majority of industry revenue, due to its long-standing position in the industry and its popularity among food-service establishments such as coffee shops.Fluctuations in input prices, particularly for soybeans, almonds and rice, significantly influence the more.

Industry Statistics & Market Size
Annual Growth 14-19
Forecast Growth 19-24

Industry Threats & Opportunities

  • Increasing health consciousness has boosted demand for industry products
  • Soy milk’s industry share has declined due to growth in almond, rice, oat and coconut milks
  • Rising health consciousness is anticipated to continue boosting demand for non-dairy milks
  • Industry Report - Industry Products Chapter

    The non-dairy milk market has expanded strongly over the past decade, with a growing number of plant-based milks being offered. Similar to their dairy counterparts, industry products include flavoured, sweetened, unsweetened, low-fat or no-fat, and fortified varieties. Some blends are formulated to address specific health concerns, such as digestive health and calcium absorption. Each segment's size represents its contribution to industry revenue.Soy milkSoy milk is the most popular dairy-alternative beverage, accounting for close to half of industry revenue. However, soy milk has declined as a share of industry revenue over the past five years, due to the growth in other non-dairy milk types, particularly almond milk. Des...purchase to read more.

    Additional Insights for the Soy and Almond Milk Production Industry

    IBISWorld has determined the most important Key Success Factors for the Soy and Almond Milk Production are:

  • Economies of scale
  • Guaranteed supply of key inputs
  • Establishment of brand names
  • IBISWorld analysts also discuss how external factors such as World price of soybeans and Demand from supermarkets and grocery stores in the Soy and Almond Milk Production industry impact industry performance..

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    What's in this report

    What is the Soy and Almond Milk Production Industry?

    Companies in the industry manufacture non-dairy milk substitute beverages. These products are usually plant-based and may be made from soybeans, almonds, hemp, coconut, rice or oats.

    Industry Products
  • Soy milk
  • Almond milk
  • Rice milk
  • Oat milk
  • Other milks
  • Industry Activities
  • Dehulling beans, nuts and seeds
  • Grinding beans, nuts and seeds
  • Aseptic sterilising
  • Homogenising
  • Storing and packaging
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • World price of soybeans
  • Demand from supermarkets and grocery stores
  • Health consciousness
  • Milk consumption

  • Current Performance
  • Health and nutrition
  • External competition
  • Costs and profit
  • Chart: Revenue Growth

  • Industry Outlook
  • Health consciousness
  • Competition and private labels
  • Industry landscape
  • Table: Soy and Almond Milk Production Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Soy and Almond Milk Production Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • General Line Grocery Wholesaling
  • Accommodation and Food Services
  • Supermarkets and Grocery Stores

  • Key Selling Industries
  • Citrus Fruit, Nut and Other Fruit Growing
  • Grain Growing

  • Products & Services
  • Soy milk
  • Almond milk
  • Rice milk
  • Other milks
  • Oat milk
  • Chart: Soy and Almond Milk Production Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Supermarkets
  • Wholesalers
  • Export markets
  • Other markets
  • Food-service establishments
  • Chart: Major Market Segmentation for the Soy and Almond Milk Production Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Soy and Almond Milk Production

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Soy and Almond Milk Production Industry

  • Industry Globalization
    Lion Pty Ltd, Australian Health & Nutrition Association Limited, Freedom Foods Group Limited,
  • Table: Lion Pty Ltd - financial performance
  • Table: Australian Health & Nutrition Association Limited - financial performance
  • Table: Freedom Foods Group Limited - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Soy and Almond Milk Production Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Soy and Almond Milk Production Industry
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Exports (2010-2024)
  • Imports (2010-2024)
  • Wages (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Grain Milk
  • Milk that is derived from grain crops such as oats.
  • Lactose
  • A type of sugar that is found in dairy products.
  • Veganism
  • The practice of abstaining from using or consuming animal products.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Soy and Almond Milk Production market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

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    This report on Soy and Almond Milk Production:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Soy and Almond Milk Production market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Soy and Almond Milk Production, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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