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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.
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:
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.
FEW KEY PLAYERS IN SOYA FLOUR MARKET:
Timeline Considered for Analysis:
- 2019: Base Year
- 2020: Estimated Year
- 2020 to 2025: 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
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Key Questions Answered in the Global Soya Flour Industry Report
The report offers a comprehensive insight on the Soya Flour market share, competitor landscape, market trends, growth, revenue, and key driver’s analysis with coverage of key players, top geographies, product types and end user.
Exhaustive secondary research and in-depth primary interviews with industry experts has been conducted to present qualitative and quantitative insights in the report.
We offer customizations as per client’s specific needs.