The sales increase is impressive, and many consumers have begun to view soy as an alternative to animal-sourced products that they would rather not eat. However, the soy market is maturing: soy food and drink had a “growth spurt” between 2001 and 2003 as better technology and product innovation led to increased availability of a range of soy-based foods. However, growth slowed significantly between 2004 and 2006. In fact, sales of soy products declined 1.8% between 2004 and 2005; it is estimated that sales will increase less than 1% between 2005 and 2006.
The soy-as-natural-estrogen concept resonated among an aging female Baby Boomer population that was seeking a non-pharmacological answer for its menopausal symptoms. Without FDA backing and solid scientific proof, soy products began to lose favor with this major portion of the population. This explains (at least in some part) the slowing of soy sales in the second half of the review period.