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eNews from Thursday, April 16, 2009

Soyfoods Sales Reach All-Time High, Says New Report From Soyatech and SPINS

Press Release -- SCHAUMBURG, IL -- April 15, 2009 -- According to Soyfoods: The U.S. Market 2009, a newly released report by Soyatech, LLC and SPINS, Inc., retail sales of soyfoods products have surpassed $4 billion for the first time in history.  The report, which examines soyfoods sales and industry trends during 2008, points out that the market for soyfoods in the U.S. 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. 

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Interestingly, the sales growth of soy is highest in a channel other than conventional supermarkets or natural retailers, according to the report. 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%.

Leading categories driving this growth include soymilk, meat alternatives, tofu and snack bars.  Refrigerated soy-based entrees 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 is the eighth report produced by Soyatech and SPINS, and provides detailed information on the U.S. market by category, sub-category, brand and distribution channel.

The report covers such topics 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 847.902.1200 ext. 1254.

About Soyatech
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.

About SPINS

SPINS 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. Learn more at www.spins.com.

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