Naperville, IL -- (SBWIRE) -- 10/22/2013 -- Reportstack, provider of premium market research reports announces the addition of The French Soy Products Market: What Consumers Eat and Why? market report to its offering
This report provides the results for the Soy Products market in France from unique, highly detailed study 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 behaviors, the extent to which consumer trends influence their consumption, the value of the market these trends influence, and brand and private label choices. Much of this information can also be analyzed by specific consumer groups, providing hard and fast data on consumers and markets at the product category level.
Introduction and Landscape
Why was the report written?
Marketers in the Soy Products market face a major challenge. Understanding market size and segmentation is valuable, but the key to effective targeting is knowing just how valuable specific consumer groups are, and being able to quantify the impact of consumer trends. This data report solves these problems by providing survey-based data on consumer trends and consumer groups, and market data which shows the exact size of consumer groups, how much of the Soy Products market they account for, and which consumer trends drive their behavior.
What is the current market landscape and what is changing?
At present the penetration of Soy Products in the French market is so low that companies will need to decide whether they seek to gain maximum returns from existing consumers, or seek to tempt those who don't currently consume these products to trial them because of their health benefits.
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 consumption across 26 consumer groups. This data provides 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 behavior 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 behaviors.
Key Features and Benefits
Consumer data, based upon proprietary surveys and then consumer group tracking and modeling for the following specific categories: Soy Desserts, Soy Drinks, and Soy Milk.
Detailed consumer segmentation covering over 26 consumer groups, 20 consumer trends, and consumption frequency for each product category.
Consumer penetration for brands and private labels, based upon the original survey and then subsequent consumer tracking and modeling.
Unique retailer choice data at the product category level, based upon the original survey and then subsequent consumer tracking and modeling.
Key Market Issues
The Better off wealth group has the largest share of the Soy Products market by value, with 47.3%; however, this is in line with their share of the overall population. While marketers may wish to target this group, the fact they don't consume Soy Products disproportionately means other wealth groups should not be ignored. Companies can introduce differentiated products targeting various income groups so that every income group is effectively targeted.
While significant numbers of consumers state that several consumer trends affect their purchases, analysis of their behavior indicates that they simply often do not act on the needs these trends cause. As such, the market can be seen as being highly commoditized and brands will need to change this if they are seeking to offer more premium, value-added products in the future.
As well has having the largest share of the Soy Products market by value, Older Consumers consume at a rate slightly above average: they have a market share of 35% despite accounting for 29% of the population. In contrast, per capita consumption among Early Young Adults is low, highlighting that marketers need to target this age group if they wish to grow the market.
Very low overall rates of product penetration present a problem to manufacturers. Should they seek to increase consumption amongst a core group of French consumers, or is this the time right to try and attract consumers from the very large group of current non-users? For individual manufacturers the answer will depend upon whether they can increase current consumption frequencies amongst existing consumers.
Private label penetration is low in the Soy Drinks market, compared with Soy Milk. While 31% of the volume of Soy Milk products distributed is private label, the same is only true for 24% of Soy Drinks products. However, retailers may struggle to grow their market share in the Soy Drinks market due to the success of the leading brand, which controls 70% of the market. Brands in the remaining 14% of the Soy Drinks category need to develop strategies to differentiate themselves from private labels and the market leader, or be squeezed out of the market.
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