NEW YORK—Soy foods have staying power, according to a new report from Packaged Facts (PackagedFacts.com), "Soy Foods and Beverages in the U.S." The soy food and beverage market topped $2 billion in 2007, up 7 percent from 2006, due largely to snack bar and soymilk products. Sales of soy foods and beverages grew a notable 29 percent between 2003 and 2005, and Packaged Facts forecasts that the market will continue to increase at a healthy pace through 2012, rounding out at $3 billion.
"Consumer awareness of soy as a healthy food has dramatically increased during the past decade and companies like Solae and Silk have done a great job of educating consumers about the lowered risk of heart disease and possible cancers through high-in-protein soy products," noted Tatjana Meerman, publisher of Packaged Facts. "The growth potential in this market has enticed manufacturers to extend products globally; for example, Mexico is a focal point for Solae where it has identified an opportunity to replace larger quantities of dairy ingredients with soy."
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