Soya Flour Market By Product Type (Full-fat/Natural, Low-fat, Defatted); By Application (Bakery & Confectionery, Meat Substitute, Health Products, Others); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2022-2032
Soya Flour Market Overview and Definition
The global soya flour market size was valued at around USD 3.8 billion in 2022 and is projected to grow at a compound annual rate of growth (CAGR) of around 3.1% from 2022 to 2032.The market size is projected to succeed in USD 5.1 billion by 2032.
Soy flour is a product made from ground soybeans. It is a high-protein, low-fat, and gluten-free alternative to wheat flour, and is often used as an ingredient in many baked goods, as well as in various food products such as cereals, snacks, and meat products.
Soy flour is a good source of high-quality protein, essential fatty acids, and fiber. It is also low in saturated fat and contains no cholesterol, making it a healthy and nutritious ingredient for a variety of food products.
The global soy flour market is driven by the growing demand for healthy and nutritious food products, the increasing awareness of the health benefits of soy-based products, and the growing preference for plant-based and gluten-free food products. The market is also driven by the increasing adoption of soy flour as an alternative to wheat flour in various food products, particularly in the bakery industry.
The global pandemic has impacted the soy flour market, but the market is expected to recover and grow in the coming years. The market is expected to benefit from the increasing demand for healthy and natural food products, as well as the growing demand for soy-based products in emerging markets.
Some of the leading players in the soy flour market include Archer Daniels Midland Company, The Scoular Company, Cargill, Inc., SunOpta, Inc., and The Hain Celestial Group, Inc. These companies are investing in the development of new and innovative soy flour products that can meet the evolving needs of their customers and create new business opportunities. They are also collaborating with other companies to expand their product portfolios and strengthen their position in the market.
Soya beans are known to be a rich source of protein and are extensively used in many food items worldwide. Soya flour is obtained by grinding these soybeans and is finely grounded into a powder. They are vividly and widely used in the food industry for preparing bakery products, confectionaries, baby foods, cereals and pet food as an additive. The flour helps in improving taste as well as texture of the food and along with protein; it is also a source of dietary fiber, isoflavones, iron, vitamins, calcium and potassium which makes it one of the healthiest foods in the world.
Soy flour is a gluten-free product which is preferred by health conscious consumers as well as by fitness trainers among others as potentially efficient breakfast cereals. Global soya flour market is expected to flourish at a more than healthy CAGR in the coming years.
Soya Flour Market Drivers
The growth of this market is attributed towards major pertaining factors including the rising popularity of vegan diets, increasing demand for gluten-free flour and organic, natural, healthy, and baked food products, growing demand for soy-derived flour in processed baked items owing to its nutritional qualities and growing population of working professionals and increasing demand for ready-to-eat products etc.
Also, with its beneficial properties, such as solubility and absorption abilities, trans-fat free, whole-grain food products, soya flour significantly enhances the functional characteristics of the food items it is added to. In recent times, several other industrial uses of soya flour have come up front, which in turn is expected to bring more traction to soya flour, thereby fueling the growth of the overall market.
Additionally, soy flour is used in many food products to enhance nutritional value of the product as it is high source of vegan protein, and healthy oils. Also, it offer several other health benefits such as it reduces risk of heart disease, reduce menopausal symptoms, lowers blood cholesterol etc. Soy flour provides bases for soymilk and textured vegetable which is trending worldwide in turn increasing market demand for soy flour.
Moreover, major baked goods manufacturers are launching new products to cater to the growing consumer demand. For instance, in April 2016, Britannia Industries Ltd. launched ‘Vita Rich Slice’ bread made up of refined soy and wheat flour. These launchings add to the market growth significantly.
Furthermore, In 1999, the Food and Drug Administration (FDA) approved that the usage of soy protein is beneficial for the health as well as it helps to reduce the risk of associated heart disease. Moreover, the FDA also authorized the product nutrition labels stating soy protein consumption reduces the risk of coronary heart disease. The FDA established that introduction of soy protein in a regular diet reduces the saturated fat and cholesterol level in the human body. These initiatives ensure significant growth of the market in the foreseeable future.
However, strict government rules, easy access to other alternative nutritious products, consumer skepticism, lack of availability in developing countries and allergies associated with soy are a few factors that impede and hinder the growth of this market.
Soya Flour Market Segmentation
By Product Type
- Full-fat/Natural
- Low-fat
- Defatted
By Application
- Bakery & Confectionery
- Meat Substitute
- Health Products
- Others
Soya Flour Market Regional Insight
The North American region has been dominating this market and is expected to continue to do the same owing to the rising importance of vegan dies among consumers in the countries in the region. U.S. is the largest contributor in this region.
The Asia Pacific region is currently the fastest-growing region in the market. Japan is one of the largest consumers of soy-based flour in the Asia Pacific as the consumption of traditional foods in the region is the highest. Also, India and China have shown higher growth rate in terms of production and are expected to grow at a significant rate in the coming years.
Lastly, Brazil in Latin America contributes to the maximum share of soy flour in terms of production volume whereas, countries like Uruguay, Bolivia and Ukraine are gaining interest in production of soy flour which is contributing and will enhance the growth of overall global market.
Key Players In Soya Flour Market
- Archer Daniels Midland Company
- Vippy Industries Ltd.
- Unitechem Co. Ltd.
- Gushen Group
- Harvest Innovations
- Unitechem
- Shandong Yuxin Bio-Tech
- Foodchem International Corporation
- Sakthi Soyas Limited
- Scoular Food Ingredients Group
- Cargill Incorporated
- World Food Processing
- Ingredion
- The Scoular Company
- Sunopta
- Anchor Ingredients
- EHL Limited
- Other Players
RECENT DEVELOPMENTS:
- In August 2020, CME Group had announced that it would launch South American Soybean (Platts) Futures on Sept. 21, pending all relevant regulatory review periods. This contract was said to offer market participants a new tool to directly manage exposure to the Brazilian soybean market.
- In October 2020, it was reportedly found out that Delta Agrofood Industries, a joint venture of SEACOM and Samuda, was set to invest Tk 1,200 crore in the production of various soy and wheat products with an aim to meet the country's growing demand for healthier consumer goods. Under the fresh investment, Delta Agrofood will establish a new factory to produce both crude and refined soyabean oil, soybean cake, soya milk and flour.
Timeline Considered for Analysis:
- 2021: Base Year
- 2022: Estimated Year
- 2022 to 2032: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyses the global soya flour market by the following segments:
- Product Type
- Application
Customization: We also offer customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Soya Flour Industry Report
- What is the overall market size in 2021? What will be the market growth during the forecast period i.e. 2022-2032?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?
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- Publication date: 15th October 2023
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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