Full of beans: Rising health consciousness has strongly boosted demand for non-dairy milk

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 4.8% over the five years through 2017-18, to total $158.3 million. This includes expected growth of 2.8% during the current year. Increasing health awareness regarding food consumption has boosted the popularity of non-dairy beverages, such as soy and almond milk. Soy milk accounts for 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. Smaller segments such as almond, rice and oat milk have grown rapidly, but remain small shares of industry revenue...read more.

Industry Statistics & Market Size
Revenue
$158m
Annual Growth 13-18
4.8%
Forecast Growth 18-23
Profit
Employment
233
Businesses
20

Industry Threats & Opportunities

  • Increasing health awareness and sociological movements have boosted industry product popularity
  • Soy milk’s industry share has declined due to growth in almond, rice, oat and coconut milks
  • Rising health consciousness is anticipated to continue to stimulate demand for non-dairy milks
  • Industry Report - Starting a New Business Chapter

    Potential entrants to the industry face moderate barriers to entry. The industry's three major players, which dominate the industry, present a formidable barrier to entry. Lion, Sanitarium and Freedom Foods account for more than three-quarters of industry revenue combined. This creates strong competition, making it difficult for new players to gain a foothold in the industry. Additionally, significant capital outlay is required to establish operations in the industry. New players wanting to compete with the industry's major players must invest in expensive manufacturing equipment to achieve similar economies of scale. Furthermore, high market share concentration creates a high degree of brand recognition and customer loyalty. New...purchase to read more.

    Additional Insights for the Soy and Almond Milk Production Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Soy and Almond Milk Production Industry are

  • Marketing of differentiated products
  • Economies of scale
  • Guaranteed supply of key inputs
  • 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
  • Health consciousness
  • Branding
  • Price

  • Major Markets
  • Supermarkets
  • Wholesalers
  • Food-service establishments
  • Other markets
  • Export markets
  • 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
  • Profit
  • Purchases
  • Wages
  • Depreciation
  • Rent, utilities and other
  • Chart: Cost Structure Benchmarking – Sector vs Soy and Almond Milk Production

  • Basis of Competition
  • Internal competition
  • External 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
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)

  • 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
  • Lactose is a sugar-derived glucose that is most notably found in cow milk.
  • Veganism
  • The practice of abstaining from using animal products.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Soy and Almond Milk Production market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
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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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