Market for Vegetarian foods

Mintel Consumer Intelligence 1 the 2002 market for vegetarian foods, those that directly replace meat or other animal products, to be $1.5 billion. Note that this excludes traditional vegetarian foods such as produce, pasta, and rice. Mintel forecasts the market to nearly double by 2006 to $2.8 billion, with the highest growth coming from soymilk, especially refrigerated brands. The Food and Drug Administration's 1999 decision to allow manufacturers to include heart-healthy claims on foods that deliver at least 6.25 grams of soy protein per serving and are also low in 2 fat and cholesterol has spurred 3 interest in soymilk and other soy foods. A representative of manufacturer Food Tech International (Veggie Patch brand) reported that from 1998 to 1999, the percentage of 4 willing to try soy products jumped from 32% to 67%. Beliefs about soy's 5 in reducing the symptoms of menopause also attracted new consumers. A 2000 survey conducted by the United Soybean Board showed that the number of people eating soy products once a week or more was up to 27%. Forty-five percent of respondents had tried tofu, 41% had sampled veggie burgers, and 25% had experience with soymilk (Soy foods USA e-mail newsletter). Mintel estimates 2001 sales of frozen and refrigerated meat 6 in food stores at nearly $300 million, with soymilk sales nearing $250 million.