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Consumer Trends in the Soy Products Market in The US
Canadean Ltd, April 2012, Pages: 47
Synopsis
This report provides the results for the Soy Products market in The US from Canadean’s unique, highly detailed and proprietary survey of consumers’ Consumer Packaged Goods (CPG) consumption habits, and forms part of an overall series covering all CPG product markets.Its coverage includes, but is not limited to, consumption behaviours, the extent to which consumer trends influence their consumption and the value of the market these trends influence, brand and private label choices. Much of this information can also be analyzed by specific consumer group, providing hard and fast data on consumers and markets at the product category level.
Summary
Why was the report written?
Marketers in the Soy Products market in the US face a major challenge. Understanding market size and segmentation is valuable, but the keys to effective targeting are to know just how valuable specific consumer groups are, and to be able to quantify the impact of consumer trends.This report solves these problems by providing integrated survey-based data on consumer trends, consumer groups and market data which show exactly the size of consumer groups, how much of the soy products market they account for and which consumer trends drive their behaviour.
What is the current market landscape and what is changing?
At present, while Soy Products in general have managed to reach a greater share of consumers in the US than in other countries, the market still stands at a crossroads. Should marketers target expanding the consumer audience, or seek to increase the frequency of use amongst existing consumers? The best approach will depend on understanding which consumers are driving sales and where the potential areas of latent demand are.
What are the key drivers behind recent market changes?
Consumers’ uptake of products and the influence of consumer trends are fundamental causes of change in markets – making knowing what these trends are and the extent of their influence crucial.The survey-based data provided in this report examines over 20 consumer trends that affect the market and examines the share of sales across 26 consumer groups – providing through the data a detailed insight into exactly who the consumer is and just how much impact the latest consumer trends are having.
What makes this report unique and essential to read?
The data provided is unique in the market as it tracks consumer behaviour through to its actual value impact on a product market. This provides readers with a unique data analysis of the market allowing marketing tactics and strategy to be updated in line with the very latest consumer behaviours.
Scope
Consumer survey data for the following specific categories: soy desserts, soy drinks and soy milk.
Detailed consumer segmentation based on survey data covering over 26 consumer groups, 20 consumer trends and consumption frequency for each product category.
Volume shares in 2011 for brands and private label sales tracked by the survey.
Reasons To Buy
Unique proprietary data that sizes and segments consumers, tracks their behaviour and shows the impact of this on their markets
Results also cover over 20 consumer trends, showing exactly to what extent these trends have a direct influence on a market. As this impact assessment is based not only on how many consumers act on these trends, but also how often they act on this it provides unique insight into the “size of the prize” when targeting these consumer trends in each category covered.
Key Highlights
Brand analysis shows that the presence of private labels in the Soy Products market is less than 15% by volume across all categories. It is highest in the Soy Milk category and lowest in the Soy Drinks category.
Soy Milk, with a value share approaching half of the overall Soy Products market is easily the largest market segment. Soy Drinks also have significant share, but Soy Desserts are lagging behind and have failed to achieve significant scale.
Compared to their overall share of the population there is a significant skew towards female consumption of Soy Drinks and, in particular, of Soy Desserts. This indicates a potential to market more specifically to women in these categories.
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