MarketResearch.com announced today the release of a new study “The U.S. Soyfood Market”, by Kalorama Information. Supermarkets account for the majority of soyfood sales, and sales through this channel are increasing in importance. With 60% of total soyfood sales taking place in the mass market, supermarkets are commanding a whopping 90% of those sales. Key marketers in the soyfood industry are focusing their attention on supermarkets as their main channel for growth. Forecasts indicate that the involvement of conventional food marketers will increase sales and expand awareness of soyfoods in mainstream markets. Overall market growth is projected to be $6 billion by 2005 being fueled by increased distribution of soyfoods in conventional mass-market outlets.
“Soy marketers see expansion coming from these larger outlets because they reach the masses, where soy is increasingly demand in a wide variety of products,” said Claire Madden, VP of Marketing at MarketResearch.com. “Soyfood brands are important to supermarkets, as they give conventional groceries the reputation associated with carrying healthy and trendy products and keep their customers from purchasing soy items elsewhere.”
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Consumers have a better understanding of diet and nutrition and are purchasing foods providing specific health benefits. 40 million consumers are using soyfood products that include meat alternatives (tofu, tempeh, veggie burgers etc.); dairy alternatives (soy milk, soy yogurts, soy cheese, etc.); grains, snacks and cereals containing soy; bulk fresh, frozen and dried soybeans; textured vegetable protein; meal replacements and protein powders that contain soy; and other soyfoods such as miso, soynut butter, soy sauce and tamari. Their interest in choosing a healthier way of life will drive soyfood sales as they view this food choice as a way to improve their overall wellbeing. With more and more conventional marketers offering soy products, mainstream consumers will begin to include soyfoods into their everyday meal planning.
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