One year after Israeli food and dairy giant Tnuva paid US$10m for Magic Soy, the company is to embark on marketing fresh soy-based drinks.
The aim, according to trade sources, is to compete with Alpro, an imported brand that holds 70% share on the local market.
Tnuva is investing US$1.1m in advertising and sales promotion, first for its soy-based drinks and later for new soy-based categories, such as soy specialties and tofu cheeses.
Ofer Bloch, manager of Tnuva’s dairy division, maintains that his company plans to capture some 30% of the NIS70m (US$15.7m) market within one year. Maariv adds that Tnuva’s entry to the soy field at this time “is in anticipation of the entry of other players, notably Strauss Dairies and Shemen.”