Food Trends: Report Shows Soy Losing Popularity With Consumers

According to a new report from Mintel and data from SPINS, the soy food and beverage market declined 16% from 2008 to 2010. The recession is partly to blame for the decline. Mintel also reports that other heart-healthy products have hampered soy sales.

According to Mintel's research, more than 50% of survey respondents use soy because they favor the taste; 45% of respondents don't use soy because they dislike the taste. About a quarter of these non-users also indicate that soy is too expensive.

In households, soy sauce is the most widely used soy product (42%), followed by soy-based products including soymilk (19%), soy protein–based energy bars (15%), and  edamame (14%).

"Product developers may be able to gain new users by blending soy ingredients with nuts and grains to create innovative, better tasting, and possibly more affordable food and beverages," says David Browne, senior analyst at Mintel. "Among those who prefer alternatives to soy, 34% report having a preference for other non-dairy milk, such as coconut milk or oat milk and 21% specifically prefer almond milk."

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