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Australia Soy Milk Market Size, Share, Trends, Growth: By Type: Flavoured, Unflavoured, By Application: Beverages, Cheese, Snacks, Desserts; By Distribution Channel: Supermarkets and Hypermarkets, Convenience Stores, Online Channel, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Australia Soy Milk Market Outlook
Australia soy milk market size is estimated to be valued at USD 221.04 million in 2023. It is projected to grow at a CAGR of 6.55% between 2024 and 2032, reaching USD 389.01 million in 2032.
Key Takeaways
- As per the USDA's report, Australia's soybean production reached 42,000 tons in the 2022/23 period.
- According to the Australia Bureau of Statistics, the purchase of dairy and meat alternatives from Australian supermarkets and other food retailers rose by an additional 14% in 2020-21, continuing the 14% increase observed between 2018-19 and 2019-20.
- As reported by the Australia Bureau of Statistics, individuals consumed an average of 17 grams per person per day from dairy milk alternatives such as soy or almond milk.
Unflavoured soy milk contributes significantly to the Australia soy milk market growth due to its versatility as a base for a variety of recipes. It can be utilised in sweet and savoury dishes without changing the original flavour profile
Unflavoured soy milk provides flexibility in cooking, appeals to health-conscious consumers with its natural simplicity, and enables personalisation with sweeteners. It retains a healthy nutritional profile, accommodates dietary preferences, and appeals to those with traditional tastes.
Flavoured soy milk offers a variety of flavours to satisfy different palates, particularly appealing to children and selective eaters. Convenient for on-the-go consumption, it elevates recipes, disguises the natural soy taste, and helps brands stand out in the market with distinctive flavours.
In November 2023, Vitasoy Australia reached its peak annual output, targeting 70 million litres of soy, almond, oat, rice, and coconut milk production, complemented by a new line of soy and oat-based yoghurts.
Market Segmentation
Australia Soy Milk Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Flavoured
- Unflavoured
Market Breakup by Application
- Beverages
- Cheese
- Snacks
- Desserts
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Channel
- Others
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Australian Capital Territory
- Western Australia
- Others
The Australia soy milk market key players are Royal Nut Company, Australian Health and Nutrition Association Ltd., Vitasoy Australia Products Pty Ltd., Noumi Trading Pty Ltd., Pure Harvest, and Woolworths Group among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Application |
|
| Breakup by Distribution Channel |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Australia Soy Milk Market Overview
8.1 Key Industry Highlights
8.2 Australia Soy Milk Historical Market (2018-2023)
8.3 Australia Soy Milk Market Forecast (2024-2032)
9 Australia Soy Milk Market by Type
9.1 Flavoured
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Unflavoured
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Australia Soy Milk Market by Application
10.1 Beverages
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Cheese
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Snacks
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Desserts
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
11 Australia Soy Milk Market by Distribution Channel
11.1 Supermarkets and Hypermarkets
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Convenience Stores
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Online Channel
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Others
12 Australia Soy Milk Market by Region
12.1 New South Wales
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Victoria
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Queensland
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Australian Capital Territory
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Western Australia
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Royal Nut Company
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Australian Health and Nutrition Association Ltd.
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Vitasoy Australia Products Pty Ltd.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Noumi Trading Pty Ltd.
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Pure Harvest
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Woolworths Group
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Australia Soy Milk Market: Key Industry Highlights, 2018 and 2032
2. Australia Soy Milk Historical Market: Breakup by Type (USD Million), 2018-2023
3. Australia Soy Milk Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Australia Soy Milk Historical Market: Breakup by Application (USD Million), 2018-2023
5. Australia Soy Milk Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Australia Soy Milk Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
7. Australia Soy Milk Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
8. Australia Soy Milk Historical Market: Breakup by Region (USD Million), 2018-2023
9. Australia Soy Milk Market Forecast: Breakup by Region (USD Million), 2024-2032
10. Australia Soy Milk Market Structure
Key Questions Answered in the Report
The market was valued at USD 221.04 million in 2023.
The market is projected to grow at a CAGR of 6.55% between 2024 and 2032.
The revenue generated from the market is expected to reach USD 389.01 million in 2032.
The soy milk market is categorised according to type, which includes flavoured and unflavoured.
The key players are Royal Nut Company, Australian Health and Nutrition Association Ltd., Vitasoy Australia Products Pty Ltd., Noumi Trading Pty Ltd., Pure Harvest, and Woolworths Group among others.
Based on the distribution channel, the market is divided into hypermarkets & supermarkets, convenience stores, online channel, and others.
The market is broken down into New South Wales, Victoria, Queensland, Australian Capital Territory, Western Australia, and others
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