Global Soy-based Infant Formula Market - Forecast(2023 - 2028)

Global Soy-based Infant Formula Market size is estimated to reach $352.6 million by 2027, growing at a CAGR of 3.5% during the forecast period 2022-2027. Soy-based formula is an infant food prepared by utilizing soy protein and additional constituents. It is given to infants as an addition or substitute for human milk or cow milk formula. Soy-based formulas offer an alternative for infants who have Galactosemia and are not able to securely partake in breast milk or milk-based formulas. While most infants are born with the enzyme lactase and are capable of cracking down proteins from milk sources, a very tiny percentage cannot. Infant formulas based on soybean protein isolate are frequently utilized as an option to cows'-based formulas. However, the existence of phytic acid in soy formulas has raised concerns regarding the intake of trace elements and minerals from these products. Soy infant formula includes soaring levels of the isoflavones, genistein, and daidzein, which are typically referred to as phytoestrogens. These are non-steroidal chemicals with fundamental likenesses to estrogen. Infants consuming soy formula have soaring levels of circulating isoflavones. Trypsin inhibitor levels in uncooked soybeans, soy protein isolates and concentrates, and ready-to-feed, concentrate, and powder forms of soy-based infant formulas were assessed by two changes of the standard enzymatic technique for trypsin inhibitor determination. Levels were typically greater succeeding sodium hydroxide extraction in comparison with glycine-buffered extraction.

The surging inclination of consumers towards vegan and vegetarian diets, removing animal protein involving enzyme lactase from their babies’ diet is set to drive the Global Soy-based Infant Formula Market. The rising occurrences of allergy to cow’s milk among infants is set to propel the growth of the Global Soy-based Infant Formula Market during the forecast period 2022-2027. This represents the Global Soy-based Infant Formula Industry Outlook.

Report Coverage

The report: “Global Soy-based Infant Formula Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Global Soy-based Infant Formula Market.

By Age Group: 0-6 Months Baby, 6-12 Months Baby, 12-36 Months Baby.
By Type: Low-Fat-Soy-Based Infant Formula, Whole-Fat-Soy-Based Infant Formula.
By Distribution Channel: Offline Mode, Online Mode.
By Geography: North America (U.S, Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia, Rest of South America), and Rest Of The World (Middle East, Africa).

Key Takeaways

• Geographically, Asia-Pacific Global Soy-based Infant Formula Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the soaring intake of soy-based products like soy-based infant formula including phytoestrogens in countries like China, India, Japan, South Korea and Hong Kong in the Asia-Pacific region.
• Global Soy-based Infant Formula Market growth is being driven by the increasing predominance of lactose intolerance and the surging inclination of customers to eliminate animal proteins from their babies’ diet by incorporating soy-based infant formula including phytoestrogens in the babies’ diet. However, in cases of Food Protein-Induced Enterocolitis Syndrome, Food Protein-Induced Enteropathy, Proctocolitis, and Infantile Colic, soy formula may bring about bleeding in a massive subset of infants responding to cows’ milk owing to up to 40% of infants responding to both foods. and this is one of the major factors hampering the growth of the Global Soy-based Infant Formula Market. 
• Global Soy-based Infant Formula Market Detailed Analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Global Soy-based Infant Formula Market report. 

The Global Soy-based Infant Formula Market based on type can be further segmented into Low-Fat-Soy-Based Infant Formula and Whole-Fat-Soy-Based Infant Formula. The Low-Fat-Soy-Based Infant Formula Segment held the largest market share in 2021. This growth is owing to the heightened application of Low-Fat-Soy-Based Infant Formula in infant nutrition with the weight of the infant being under control. Soy-based Infant Formula includes phytoestrogens. The surging application of low-fat-soy-based infant formula with the fat content being attributed to vegetable oils is further propelling the growth of the Low-Fat-Soy-Based Infant Formula segment.

Furthermore, the Whole-Fphyat-Soy-Based Infant Formula segment is estimated to grow with the fastest CAGR of 4.5% during the forecast period 2022-2027 owing to the extensive application of the Whole-Fat-Soy-Based Infant Formula form of Global Soy-based Infant Formula including phytoestrogens for infants who may be underweight and require to put on weight.

Global Soy-based Infant Formula Market Segment Analysis – By Distribution Channel:

The Global Soy-based Infant Formula Market based on distribution channel can be further segmented into Offline Mode and Online Mode. The Online Mode Segment held the largest market share in 2021. This growth is owing to the effortless availability of different soy-based infant formulas marketed by different brands on e-commerce websites with easy payment options and home delivery options at just a click of the button, at the fingertips of the user. Soy-based Infant Formula includes phytoestrogens. The surging online presence of key players is further propelling the growth of this segment.

Furthermore, the Offline Mode segment is estimated to grow with the fastest CAGR of 4.1% during the forecast period 2022-2027 owing to the proliferating inclination of customers worldwide to resume normal life post the pandemic characterized by pleasurable shopping trips to supermarkets and hypermarkets offline where soy-based infant formula including phytoestrogens is readily physically available for a quick look by the buyers.

Global Soy-based Infant Formula Market Segment Analysis – By Geography:

The Global Soy-based Infant Formula Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Asia-Pacific (Global Soy-based Infant Formula Market) held the largest share with 45% of the overall market in 2021. The growth of this region is owing to the soaring awareness of soy-based infant formula and surging per-capita income in nations like India and China in the Asia-Pacific region. Soy-based Infant Formula includes phytoestrogens. The proliferating penetration of e-commerce by way of the internet resulting in effortless accessibility of soy-based infant formula is further propelling the growth of the Global Soy-based Infant Formula Market in the Asia-Pacific region.

Furthermore, the North America region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like elevated application of soy-based infant formula including phytoestrogens in infant nutrition in the North American region. The heightening count of working mothers in nations like the U.S. coupled with the impact of the right nutrition on the complete growth of the baby is further fuelling the progress of the Global Soy-based Infant Formula Market in the North American region.

Global Soy-based Infant Formula Market Drivers

Surging Benefits Of Soy-based Infant Formula Are Projected To Drive The Growth Of Market:

Soy infant formulas are presently partaken by 20-25 percent of formula-fed infants in America. Soy is the treasure of nature, specifically for people who cannot endure cow’s milk. It includes vital nutrients like cow’s milk inclusive of protein, calcium, B vitamins, iron, and zinc. Dissimilar to cow’s milk, soy formula is very reduced in saturated fat and is cholesterol-free. Soy is an excellent and organic source of vital nutrients which are necessary for the development and complete health. Populations with diets soaring in soy protein and reduced in animal protein have been recorded to have lesser hazards of prostate and breast cancers than additional populations. It is well recognized that soy offers an entire source of high-quality dietary proteins. It is typically partaken by vegetarians and children and mature grown-ups who cannot tolerate animal protein, inclusive of cow milk. Infants partaking in soy formula have soaring levels of circulating isoflavones which are phytoestrogens. The surging benefits of Soy-based Infant Formula are therefore fuelling the growth of the Global Soy-based Infant Formula Market during the forecast period 2022-2027.

Surging Applications Of Soy-based Infant Formula Are Expected To Boost The Demand For Soy-based Infant Formula:

Soy-based infant formulas usually have protein contents of 1.65-1.9 g/100 mL. Soy can be a life-saver for babies who exhibit lactose intolerance and need a non-milk-based formula. Furthermore, it is effortless to digest and therefore soy s a gentle, plant-based alternative that can be a perfect option for sensitive stomachs. Numerous newborns have fussiness and gas, which can be relieved by utilizing a soy formula. The soy formula includes phytoestrogens. Earth’s Finest Non-GMO Plant Based Infant Formula is the most excellent soy formula on the market. Numerous parents assert that changing to soy-based infant formula has reduced or removed the constipation of their baby. Soy formula is a dairy-free option that permits the user to avert backing the unethical dairy business. The surging applications of soy-based infant formula are therefore driving the growth of the Global Soy-based Infant Formula Market during the forecast period 2022-2027.

Global Soy-based Infant Formula Market Challenges

Existence Of Phytoestrogens In Soy Formula Is Challenging The Growth Of The Global Soy-based Infant Formula Market:

Though currently, there is no concrete proof that phytoestrogens have toxic impacts in human infants who are given a diet of soy formula, concern has been raised from research performed in vitro and in animal investigations. Phytoestrogens are plant-extracted substances with estrogenic action. Soy-based infant formulas include phytoestrogens of the isoflavone class, which involves genistein, daidzein, and glycitein. These isoflavones are comparatively feeble estrogens, with nearly 1/1000 to 1/10,000 of the potency of estradiol in the rodent uterotrophic assay – the ‘gold standard' for determining estrogenic activity in experimental animals. However, they are existing in comparatively massive quantities in soy-based formulas, such that the total isoflavone content is nearly 40 microgram/mL in ready-to-use soy formulas. Infants who partake in these products have isoflavone plasma concentrations of nearly 13,000 to 22,000 times higher than their estradiol plasma concentrations. Contrarily, the plasma concentrations of isoflavones in infants who are given cow’s milk formula or breast milk are only 50 to 200 times higher than their estradiol plasma concentrations. There is concern that these isoflavones may imitate the activities of estradiol or change estradiol metabolism, and subsequently change the processes influenced by estradiol. These issues are thus hampering the growth of the Global Soy-based Infant Formula Market.

Global Soy-based Infant Formula Industry Outlook:

Product launches, mergers and acquisitions, partnerships, production, and geographical expansions are key strategies adopted by players in the Global Soy-based Infant Formula Market. Key companies in this market are:

1. Abbott Laboratories – Abbott Nutrition
2. Nestle S.A.
3. Baby's Only
4. Earth's Best
5. Karicare
6. Wakodo
7. Asahi Group Foods
8. BIMBOSAN AG
9. Mead Johnson & Company, LLC
10. Danone S.A.

Recent Developments

• In September 2021, Bunge declared its plant-based lipids business, Bunge Loders Croklaan, introduced Betapol Organic, the earliest China and EU Certified Organic OPO (oleic-palmitic-oleic or SN-2 palmitate) for infant milk formula (IMF). Encouraged by the organic composition of human breast milk, Betapol Organic is the most recent offering in the firm’s infant nutrition portfolio. Next to infant milk formula constituents, Bunge Loders Croklaan is developing its organic portfolio, providing a stable and scalable supply chain of organic oils and fats, ranging from sunflower, rapeseed, soy, and palm to shea and coconut.
• In March 2021, Danone planned to introduce formula milk in pre-assessed tab formats in the U.K. Consequent to a partnership with Japanese food maker Meiji, the move responds to parents’ demands for higher convenience and ease when making formula milk feeds. The tabs will further be accessible exclusively by way of the U.K. health and beauty retailer Boots under the Aptamil brand.

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