Sales of Soy-Based Foods in U.S. Grow Despite Sluggish Economy and Increased Competition: Soyatech Industry Report

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Soyatech predicts moderate near-term growth for many types of soyfoods as current market drivers including consumer focus on convenience; widespread interest in meat-free foods; and revised federal nutrition guidelines affect consumer understanding of – and interest in – the added value of foods made from soybeans.

Even as the soyfoods category matures in the U.S., sales of convenience foods made from whole soybeans or soy protein ingredients continue to increase, according to the 11th annual edition of the authoritative report Soyfoods: The U.S. Market published by the soy industry’s global intelligence resource Soyatech, LLC.

In Soyfoods: The U.S. Market 2011, Soyatech reveals that convenience foods such as soy protein-based energy bars (18% growth in 2010 vs. 2009) and meat alternatives (over 4% growth in 2010 vs. 2009) have continued to experience strong growth even as the overall category has matured during the past seven years.

“Marketers of soy-based foods have been finding success in developing delicious meat alternative products with sophisticated flavor profiles,” says Joe Jordan, Soyatech Content Director, “In addition, 14 energy bar brands appeared among the top 50 soyfoods brands in 2010, indicating that this broad market affords many opportunities for creative food manufacturers to reach their key target markets.”

Soyfoods: The U.S. Market 2011 also reports on the challenges faced by the soyfoods market in recent years, including the protracted slide of soymilk sales (down 3.5% in 2010 vs. 2009), as well as lackluster performance in tofu, soy-based infant formula and other major subcategories. A profusion of non-dairy alternative beverages; premium pricing for many soyfoods brands; and widely distributed information about the impact of soy on health are all contributing factors to the lack of growth in parts of the soyfoods market. Still, Soyatech predicts moderate near-term growth for many types of soyfoods as current market drivers including consumer focus on convenience; widespread interest in meat-free foods; and revised federal nutrition guidelines affect consumer understanding of – and interest in – the added value of foods made from the nutritious soybean.

Soyfoods: The U.S. Market 2011 is produced by the Soyatech content team and powered by data from SPINS, the premier provider of natural products’ sales information. This new report will be available May 5, 2011 and can be ordered today from http://www.soyatech.com and http://www.spins.com.

About Soyatech, LLC
Soyatech (http://www.soyatech.com) is a global media, marketing, and event company that assists food, oilseed, agribusiness, and agri-transportation sector firms to assess and develop market opportunities through its publications, conferences, webinars, and widely-used internet platform. More about Soyatech-produced conferences can be found at http://www.soyatechevents.com.

Founded in 1985, the company publishes the annual Soya & Oilseed Bluebook, the industry’s leading source of information on oilseed and agribusiness companies and products, an industry-focused email newsletter (in daily and weekly editions), and Soyatech.com, the award-winning business-to-business online resource for the industry. Soyatech’s information services are referred to by tens of thousands of the world’s leading commodity, food and biofuels companies in over 100 countries every week. Soyatech, LLC is a wholly-owned subsidiary of HighQuest Partners.

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Joe Jordan
Soyatech LLC
(207) 244-9544 115
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