Dallas, TX (PRWEB) October 26, 2013
This report provides the results for the Soy Products market in The US from Canadean’s unique, highly detailed study of consumers’ Consumer Packaged Goods (CPG) consumption habits, and forms part of an overall series covering all CPG product markets. Its coverage includes, but is not limited to, consumption behaviors, the extent to which consumer trends influence their consumption, the value of the market these trends influence, and brand and private label choices. Much of this information can also be analyzed by specific consumer groups, providing hard and fast data on consumers and markets at the product category level.
Complete report available @ http://www.rnrmarketresearch.com/the-us-soy-products-market-what-consumers-eat-and-why-market-report.html .
Introduction and Landscape
Why was the report written?
Marketers in the Soy Products market in the US face a major challenge. Understanding market size and segmentation is valuable, but the key to effective targeting is knowing just how valuable specific consumer groups are, and to be able to quantify the impact of consumer trends. This data report solves these problems by providing integrated survey-based data on consumer trends and consumer groups, and market data that shows the exact size of consumer groups, how much of the soy products market they account for, and which consumer trends drive their behavior.
What is the current market landscape and what is changing?
While Soy Products in general have currently managed to reach a greater share of consumers in the US than in other countries, the market still stands at a crossroads. Should marketers target expanding the consumer audience, or seek to increase the frequency of use amongst existing consumers? The best approach will depend on understanding which consumers are driving sales and where the potential areas of latent demand are.
What are the key drivers behind recent market changes?
Consumers’ uptake of products and the influence of consumer trends are fundamental causes of change in markets – making knowing what these trends are and the extent of their influence crucial. The survey-based data provided in this report examines over 20 consumer trends that affect the market and examines the share of consumption across 26 consumer groups. This data provides a detailed insight into exactly who the consumer is and just how much impact the latest consumer trends are having.
What makes this report unique and essential to read?
The data provided is unique in the market as it tracks consumer behavior through to its actual value impact on a product market. This provides readers with a unique data analysis of the market, allowing marketing tactics and strategy to be updated in line with the very latest consumer behaviors.
Key Features and Benefits
- Consumer data, based upon proprietary surveys and then consumer group tracking and modeling for the following specific categories: Soy Desserts, Soy Drinks and Soy Milk.
- Detailed consumer segmentation covering over 26 consumer groups, 20 consumer trends, and consumption frequency for each product category.
- Consumer penetration for brands and private labels, based upon the original survey and then subsequent consumer tracking and modeling.
Key Market Issues
- Results highlight that, while a large part of the audience for these products state that several Consumer Trends affect their consumption, the actual stated impact on the market is far less. This may explain why consumption frequencies are low – it might be that while consumers think these products offer benefits, they do not necessarily feel their benefits immediately upon consumption.
- Penetration rates by age group are not high; however, a significant number of consumers, particularly the older they are, consume these products. Determining which consumer groups offer the greater value, and which specific trends to align products with, is therefore vital to future success.
- In terms of consumer penetration and consumption value, Soy Desserts significantly lag behind the other categories, suggesting that this category in particular needs to work hard to convince consumers to both try these products out and then continue to consume them.
- Brand analysis shows that the presence of private labels in the Soy Products market is less than 15% by volume across all categories. It is highest in the Soy Desserts category and lowest in the Soy Drinks category.
- With a value share approaching half of the overall Soy Products market, Soy Milk is easily the largest market segment. Soy Drinks also have significant share, but Soy Desserts are lagging behind and have failed to achieve significant scale.
- Compared to their overall share of the population, there is a significant skew towards female consumption of Soy Drinks and, in particular, of Soy Milk. This indicates a potential to market more specifically to women in these categories.
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