Soy Food and Beverages - US - March 2011
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The soy food and beverages market declined 14% during 2008-10 in FDMx and natural supermarkets combined, reaching an estimated $2.6 billion in 2010. While some of this is due to the recession and consumers cutting back on somewhat premium-priced soy-based items, competition from other healthy foods is also challenging the industry. Additionally, good tasting grain-based milk alternatives are luring consumers away from soy, thus hampering sales.
That said, soy enjoys a healthy image compared with the meat and dairy products that it frequently replaces. Soy’s FDA health claim (soy protein lowers the risk of coronary heart disease) also enhances this image.
Nevertheless, innovative new products and potential growth in new markets will continue to foster sales in the soy market.
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