Soy Prices Fall but Popularity of Soy Products Still Going Up in U.S.

Last week soy sales hit an 8 year low as news hit that China, America's largest soy purchaser, canceled more than 192,000 tons of product. It's presumed that a record crop of soybeans in South America has led to a reduction in their wholesale prices, leading China to look elsewhere for its product.

So what does this mean for U.S. buyers of soy? Prices will likely be going down, and popularity is definitely up. According to SoyFoods.org, in the last 16 years soy food products have grown from a $300 million dollar-per-year enterprise to a $4 billion dollar enterprise.

And while health fashions seem to wax and wane, soy products are still holding strong. Meat alternatives, soymilk, tofu, and soy-based desserts are still enjoying steady growth thanks to a health-conscious consumer base interested in avoiding higher-fat meat and dairy products.

Finally, a new study released by Duke University finds that soy health benefits are even proving more beneficial than some drugs designed for diabetic individuals. Apparently, a higher intake of soy products was associated with a reduction of type 2 diabetes of as much as 38 percent. This beat standard medications for pre-diabetic people by a mile.

So, if you've been considering adding a soy line to your food manufacturing, or perhaps had been waiting to enhance or advance a current line, this year might offer the best opportunities for offering soy alternatives in your product line.