Soyfoods Sales Reach All-Time High
SCHAUMBURG, IL April 20, 2009 – According to Soyfoods: The U.S. Market 2009 which has just been released by SPINS, Inc. and Soyatech, LLC, retail sales of soyfoods products have surpassed the $4 billion mark for the first time in history. The report, which examines soyfoods sales and industry trends during 2008, points out that the U.S. market for soyfoods has continued to develop despite the overall economic downturn. The study’s authors note that consumer awareness of the health benefits associated with soy and its expanded presence in multiple distribution channels are leading factors in soyfoods’ continued success.
Interestingly, the report cites data which confirm that the sales growth of soy is highest in a channel other than conventional supermarkets or natural retailers. Sales growth of 1.8% in supermarkets and natural food stores was outpaced by the "other channels" category of retail outlets for soyfoods, including Wal-Mart, club stores and foodservice operations, where sales grew by 3%.
The leading categories driving this growth include soymilk, meat alternatives, tofu and snack bars. Refrigerated soy-based entrées and sushi, tracked for the first time this year, also fared well and debuted in the top 25 largest soyfoods categories, with $11.5 million in sales.
Soyfoods: The U.S. Market 2009, the eighth report produced as a collaborative effort between by SPINS and Soyatech, provides detailed information on the U.S. market by category, sub-category, brand and distribution channel.
The report covers topics such as:
- opportunities for further growth in this healthful food sector
- major players impacting the marketplace and driving growth
- future developments in soyfoods
"With soyfoods now a $4 billion industry, Soyatech and SPINS anticipate that opportunities for innovation will enable the industry to continue to grow,” said Philippe de Lapérouse, director of Soyatech’s Global Food and Agribusiness Practice.
For more information or to order the report, please contact Laiza Martinez at lmartinez@spins.com or 847.908.1200 ext. 1254.
SPINS (www.spins.com) is the first company to offer Natural Products sales data to the industry. Established in 1995, SPINS is now the premier provider of industry reporting and consulting services for this rapidly expanding sector. SPINS’ comprehensive offering includes retail measurement services, content-based reporting, consumer information and consulting services.
Soyatech ( www.soyatech.com) is a global media, marketing, and event company that assists food, oilseed, agri-business, and agri-transportation sector firms to assess and develop market opportunities through its publications, conferences, webinars, and widely used internet platform. 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.
Please direct any press-related inquiries to Jennifer Fuller at 847.908.1224 or jfuller@spins.com.
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