$3.2bn
$XX.Xm
4,277
39
$XXX.Xm
Soy and almond milk producers have expanded rapidly, and revenue climbed even amid the negative impact of COVID-19 on the economy. In early 2020, nonessential businesses were forced to temporarily close, but soy and almond milk producers' position as part of the broader food and beverage manufacturing industry allowed them to continue operating. Soy and almond milk products have become staples in many consumers' diets, protecting demand from volatility through economic uncertainty. Revenue is expected to have risen at a CAGR of 2.8% to $3.2 billion through the end of 2023, although revenue is forecast to inch down 0.6% in 2023 alone.
Industry revenue has grown at a CAGR of 2.8 % over the past five years, to reach an estimated $3.2bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Danone Sa | 1,230.9 | 76.7 | 6.2 | |
Blue Diamond Growers | 427.2 | -0.1 | 0.0 |
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Industry revenue is measured across several distinct product and services lines, including Soy milk, Almond milk and Coconut milk. Soy milk is the largest segment of the Soy & Almond Milk Production in the US.
Oat milk grows in popularity and becomes a barista favorite
Soy and almond milk producers manufacture nondairy milk substitutes. These are usually plant-based and may be made from soybeans, almonds, hemp, coconut, rice or oats.
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NAICS 31151 - Soy & Almond Milk Production in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Soy and almond milk producers have flourished, driven by expanding health consciousness and per capita disposable income among consumers. Still, dairy alternative beverage pr...
Learn about an industry's products and services, markets and trends in international trade.
Soy and almond milks are available in a growing array of formulations. These include flavored, sweetened, unsweetened, low-fat or nonfat and fortified varieties, with some bl...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Dairy alternative beverage manufacturers tend to be located close to raw material farms, given high transportation costs. Packaging innovations that help minimize transportat...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Competition among soy and almond milk producers is based on numerous factors, including brand recognition, price, taste preference, quality, food sourcing and processing, prod...
Learn about the performance of the top companies in the industry.
Blue Diamond Growers has expanded its market share through a strategic trade deal with Japan. As the world's leading almond processor, removing trade barriers and promoting t...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Soy and almond milk producers receive a high level of assistance, mainly through the aid given to the soybean farming industry. The Agricultural Act of 2014, also known as th...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Competition has threatened profit. While the industry is dominated by two large companies, external competitors still make price a sticking point for consumers.
Including values and annual change:
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Key data sources in the US include:
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The market size of the Soy & Almond Milk Production in the US industry in United States is $3.2bn in 2024.
There are 39 businesses in the Soy & Almond Milk Production in the US industry in United States, which has grown at a CAGR of 4.0 % between 2018 and 2023.
The market size of the Soy & Almond Milk Production in the US industry in United States has been growing at a CAGR of 2.8 % between 2018 and 2023.
Over the next five years, the Soy & Almond Milk Production in the US industry in United States is expected to grow.
The biggest companies operating in the Soy & Almond Milk Production market in United States are Danone Sa and Blue Diamond Growers
Producing almond milk and Producing soy milk are part of the Soy & Almond Milk Production in the US industry.
The company holding the most market share in United States is Danone Sa.
The level of competition is moderate and increasing in the Soy & Almond Milk Production in the US industry in United States.