Soy market slumps, Mintel reports
CHICAGO — Despite soy’s reputation as a good-for-you superfood, the soy market has declined 16% from 2008 to 2010, according to Mintel.
The research firm said that the decline — which could be attributed to customers cutting back on premium-priced soy items, competition from other foods and beverages that provide similar benefits and perhaps better taste — also could factor into the drop in soy sales.
Looking ahead, Mintel projected that the market for soy food and beverages will decline an additional 17% during 2010 to 2012, primarily due to several factors, including competitive non-soy-based product threats, higher ingredient prices passed on to consumers, soy burnout and soy allergies.
"Aside from the depressed economy, consumers are experiencing soy burnout," Mintel senior analyst David Browne said. "Not too long ago, American consumers were told soy is a superfood that they can’t get enough of, but now they’re hearing that they may be getting too much. With soy aversion now a relevant concern, there are tons of competitive products available that have made it easy to switch to something new."
Jack Link’s Beef Jerky expands Sasquatch line
MINONG, Wis. — A beef jerky brand is expanding its Sasquatch snacks line with a large beef steak product.
Jack Link’s Beefy Jerky said its new Sasquatch Big Steak boasts more than 16 in. in length and is available in Angry (original) and Zen (teriyaki) flavors.
The Sasquatch Big Steaks are available for $2.99 per 2.4-oz. steak. The Sasquatch Big Sticks, which launched last year, are available for $2.49 per 2.2-oz. stick.
V8 boosts V-Fusion line
CAMDEN, N.J. — V8 is expanding its V-Fusion line of juices with two new varieties.
New concord grape raspberry and concord grape raspberry light juice blend grape juice with the juice of apples, raspberries, sweet potatoes, carrots and other fruit and vegetable juices, V-8 said.
The newly expanded portfolio includes 14 V8 V-Fusion juices and three V8 V-Fusion + Tea beverages available in a variety of sizes at most grocery, mass merchandise, convenience and club stores nationwide. The suggested retail price for a 12-oz. bottle is $1.89, $3.99 for a 46-oz. bottle and $4.99 for a 6-pack of 8-oz. slim cans.