Soy beverages double in four years
Consumption of soy beverages across West Europe, North America and Japan grew 12% in 2006 to 1,166 million litres with a retail market value of â‚¬3,346 million, according to the 2007 Soy Beverages report from leading food and drink consultancy Zenith International. Volumes have more than doubled since 2002. Yet there remain challenges, most significantly in meeting consumer taste expectations, if soy is to become a mainstay of the beverage market.
"Increasing numbers of consumers are drawn to the health appeal of soy," commented Zenith Research Director Gary Roethenbaugh. "With increased availability through major supermarkets and strong innovation by some of the major drinks manufacturers, soy beverages are finding their way in to the shopping trolleys of the mainstream consumer."
Zenith's 2007 Soy Beverages report finds that:
- Double digit growth is being achieved across the overall West European, North American and Japanese market.
- Innovation has led to improved taste, texture and flavour range.
- Mainstream availability and increased competition have boosted soy popularity.
- A continued upward trend is anticipated in West Europe, while the US and Japanese markets level off.
- New market opportunities exist in the emerging economies of South East Asia as they experience more obesity-related health problems.
- Difficulties to overcome include the lack of definitively proven health claims, an association with genetically modified organisms, new labelling regulations and taste equivalence with dairy and juice drinks.
"Manufacturers of soy and fruit combinations will experience the majority of the market's growth as they benefit from the greatest health and taste appeal. Product positioning will become increasingly important as the dividing lines between soy, dairy and fruit juices become ever more blurred," added Gary Roethenbaugh. "With further innovation in plant breeding, soy processing, microfiltration and filling techniques, there is an opportunity to develop soy beverages with significantly improved taste, mouthfeel and functionality."
Volume sales of soy beverages in West Europe, North America and Japan are projected to reach almost 1,900 million litres worth an estimated â‚¬5,350 million by 2011.
The 2007 Zenith Report on Soy Beverages contains 65 pages including market tables, ingredient and manufacturer company profiles and a full market commentary. Contact Zenith International on tel +44 (0)1225 327900, fax +44 (0)1225 327901 or e-mail email@example.com
For further information, please contact:
Gary Roethenbaugh or Natalie Cording, Zenith International Ltd
7 Kingsmead Square, Bath BA1 2AB, United Kingdom
t +44 (0)1225 327900, f +44 (0)1225 327901