Soyfood Sales Struggling

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Written by Healthy Newspaper

Tuesday, 17 March 2009 19:37

The U.S., March 2009 – Sales have slowed considerably in the U.S. soy foods market over the last four years, with year-over-year growth rates struggling to reach 2 percent, according to a new report by marketing firms SPINS, Inc. and Soyatech, LLC. However, the market has matured from its humble beginnings in small, natural food stores to mainstream consumer use. Despite what has been described as tremendous growth in the category during the late 1990s and early 2000s, a big question being asked among industry professionals today: has the soy foods industry reached its growth limits? That question and others are being featured in the new report, Soyfoods: The U.S. Market 2009, to be released in April, examining soy food sales and industry trends of 2008. On a brighter note, market data suggests growing consumption of soymilk, meat alternatives and snack bars pushed the category’s sales past the $4 billion level for the first time, the companies said in a press release. “We anticipate that opportunities for increased innovation will enable the industry to continue growing,” said Philippe de Lapérouse, Soyatech’s director of global food and agribusiness in a statement. Other topics covered in the report include: What are the opportunities in this healthful food sector? Who are major players impacting the marketplace and driving growth? SOURCE: Sustainable Food News < Prev   Next >