In a nutshell: Demand for alternative dairy products will grow, despite competition from organic milk

Over the five years to 2017, the Soy and Almond Milk Product industry has grown rapidly. Operators have thrived as Americans have become more health conscious. Additionally, an increase in per capita disposable income made consumers more willing to spend money on healthy food and drinks. A dramatic rise in demand for almond milk has occurred over the past five years at the expense of soy milk, the industry's traditional top product. Over the next five years, industry revenue is expected to continue to grow. As more Americans demand healthy goods, dairy alternative beverages will likely fly off the shelves. In addition, as the economy continues to grow, consumer spending will increase and more consumers will be willing to splurge on specialty goods such as almond and coconut milk...purchase to read more.

Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 12-17
4.9%
Forecast Growth 17-22
Profit
Employment
2,244
Businesses
39

Industry Threats & Opportunities

  • Operators have thrived as Americans have become more health conscious, supporting industry demand
  • The price of ingredients has a significant influence on industry performance
  • While revenue is forecast to grow, operators will contend with more competition
  • Industry Report - Industry Products Chapter

    Various types of plant milks are available in a growing array of formulations. These include flavored, sweetened, unsweetened, low-fat or nonfat and fortified varieties. Some blends are formulated to address specific health concerns, such as heart health (a common marketing position for soy milk products), digestive health, energy and calcium absorption.Until recently, the most commonly known and popular commercial plant milk was soy milk. However, since 2012 there has been a boom in demand for almond milk due to its perceived health benefits, as well as significant marketing efforts from DanoneWave and other producers. Close popular alternatives, in terms of consumer recognition and consumption, are rice milk and coconut milk, in that order of preference. Add...purchase to read more.

    Additional Insights for the Soy & Almond Milk Production Industry

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

  • Marketing of differentiated products
  • Economies of scale
  • Ability to alter goods and services produced in favor of market conditions
  • IBISWorld analysts also discuss how external factors such as Healthy eating index and World price of soybeans in the Soy & Almond Milk Production industry impact industry performance..

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    What's in this report

    What is the Soy & Almond Milk Production Industry?

    This industry manufactures nondairy milk substitutes. These are usually plant-based and may be made from soybeans, almonds, hemp, coconut, rice or oats.

    Industry Products
  • Soy milk
  • Almond milk
  • Coconut milk
  • Rice milk
  • Industry Activities
  • Procuring raw materials
  • Dehulling beans, nuts and seeds
  • Grinding beans, nuts and seeds
  • Aseptic sterilizing
  • Homogenizing
  • 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
  • Healthy eating index
  • World price of soybeans
  • Consumer Confidence Index
  • External competition

  • Current Performance
  • Changing product mix
  • Costs and profit
  • Industry landscape
  • Limited trade
  • Chart: Revenue Growth

  • Industry Outlook
  • Ingredients and profit
  • Industry landscape
  • Table: Soy & Almond Milk Production Industry Revenue Outlook

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

  • Supply Chains
    Key Buying Industries
  • Grocery Wholesaling
  • Soft Drink, Baked Goods & Other Grocery Wholesaling
  • Supermarkets & Grocery Stores
  • Convenience Stores
  • Accommodation and Food Services

  • Key Selling Industries
  • Coated & Laminated Paper Manufacturing
  • Fruit & Nut Farming
  • Soybean Farming
  • Sugarcane Harvesting

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

  • Demand Determinants
  • Competition
  • Price and availability

  • Major Markets
  • Consumers aged 25 to 44
  • Consumers aged 45 to 64
  • Consumers aged 65 and older
  • Consumers aged 25 and younger
  • Chart: Major Market Segmentation for the Soy & Almond Milk Production Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Purchases
  • Wages
  • Rent, utilities and depreciation
  • Other costs
  • Chart: Cost Structure Benchmarking – Sector vs Soy & Almond Milk Production

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Soy & Almond Milk Production Industry

  • Industry Globalization
    DanoneWave, Blue Diamond Growers,
  • Table: DanoneWave - financial performance
  • Table: Blue Diamond Growers - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Soy & 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 & Almond Milk Production Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Exports (2008-2022)
  • Imports (2008-2022)
  • Wages (2008-2022)
  • Price of Soybeans (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Genetically Modified Organism (Gmo)
  • An organism whose genetic material has been altered using genetic engineering techniques.
  • Hemp
  • A name for low tetrahydrocannabinol (THC) strains of the plant Cannabis sativa.
  • Organic Foods
  • Foods that are produced without synthetic inputs, such as pesticides and chemical fertilizers, do not contain GMOs, and are not processed using irradiation, industrial solvents or chemical additives.
  • Plant Milk
  • Beverage produced by soaking dry beans, nuts or seeds and grinding them with water.
  • What Our Customers Say

    Why buy this report?

    The Soy & Almond Milk Production Industry Research Report measures market size, analyses current and future trends, and provides an indication of market share for the industry’s largest companies. IBISWorld’s collection of industry market research reports gives you insightful, up-to-date information on the supply chains, economic drivers, and key buyers and markets for hundreds of industries.

    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
    • Quickly build competitive intelligence
    This report on Soy & 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 & 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 & 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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