Preliminary market research in 2010 highlighted market potential for new soy foods in Australian domestic and world markets.
The research team is currently exploring two markets for Australian Soybeans. The fresh produce market for green vegetable soybean or ‘Edamame’ is a traditional Asian food reported as having functional and exotic food benefits. While not widely known in Australia, Japan consumes in excess of 150 000 MT per annum of Edamame with large consumption also occurring in Taiwan, Korea and China. Emerging and growing markets are also reported in Europe, Canada and United States of America.
New soy protein extraction technologies developed by Agriculture and Agri-Food Canada have the potential for progressing the new functional preventative health foods market. Lifestyle induced diseases are an emerging global challenge, both in developed and developing nations.
Diets and lifestyles which lead to obesity and then to associated conditions such as Type 2 diabetes and cardiovascular disease are symptoms of current society and national health challenges.
Subsequently there are market opportunities for new foods which support delivery of functional and dietary benefits for customers seeking improvement to their health and life expectancy.
Consumers are becoming more focused on the longer term ramifications of the lifestyle choices and diets chosen which impact on lifestyle diseases. What dietary choices do consumers really have to assist them to minimise the impacts of their busy lifestyles?
The development of new soy protein extracts may lead to a new generation of functional food products which hold consumer health benefits. Future product benefits of these types of soy foods may provide financial benefits to the Australian Soy Industry.