Soy Flour Market size is expected to be USD 3.32 in 2024 USD 3.95 billion by 2029, with a CAGR of 3.5% during the forecast period 2024 to 2029.
Soy flour is a rich source of protein and is widely used in the food industry to prepare baked goods, confectionery, baby food, cereal, and pet food as an additive. Soy flour helps improve the taste and texture of food. It usually is available in supermarkets/hypermarkets, health food stores, food cooperatives, etc. in bulk and package form. Apart from protein, it is also a rich source of dietary fibre, isoflavones, iron, vitamins, and potassium, making it one of the most nutritious foods. Soy flour is a gluten-free product that health-conscious consumers prefer, as well as physical trainers such as breakfast cereals. Therefore, the demand in the food and beverage industry market is higher for soybean meal. Soy flour using in several food products to improve the nutritional value of the items as it is a high source of healthy oils and vegan protein, which is the central aspect driving market requirement from food manufacturers. However, strict government rules and buyer scepticism are the aspects hampering the development of the Soy Flour Market.
The growing demand for gluten-free flour with a rich source of iron, protein, vitamins, and calcium, as well as pleasant taste characteristics in the food industry, must remain a favourable factor for the development of the global soy flour market. In addition, the increasing importance of the vegan diet in developed economies, particularly in the United States, Germany, and the United Kingdom, is expected to increase the need for soy flour. In recent years, the market has grown significantly due to the increasing popularity of organic, natural, healthy and baked gluten-free food products. Flour is associated with several qualities, such as adding moisture and stimulating protein and calcium in cakes. Also, it offers a taste of soy milk and textured vegetable protein. This multi-nutritional flour has improved taste, texture and reduced the percentage of fat absorbed in food products. The increasing acceptance of soy flour in processed bakery products due to their nutritional qualities, including gluten-free food products, trans-fats, and whole grains, is driving the worldwide market growth. The increasing demand for processed foods, including cakes, pies, donuts, cakes, and pieces of bread globally, is anticipated to expand the reach of soy flour in the near future. Additionally, major bakery manufacturers are launching new products to meet growing consumer demand. These gluten-free foods are a healthy substitute for various cholesterol-rich products and are therefore beneficial for patients with cardiovascular disease.
The growing popularity of the vegan diet is assumed to increase the demand for soybean meal due to its nutritional value, such as the high content of dietary fibre and bioactive components, including isoflavones. In addition, soy-derived flour has a gluten-free property and acts as a significant source of protein in a vegan diet. Also, soybean meal is beneficial to reduce the risk of cardiovascular disorder. In 1999, the Food and Drug Administration (FDA) approved that the use of soy protein is beneficial to health and helps reduce the risk of associated heart disease. Besides, the FDA has authorized nutritional labels for products that indicate that consuming soy protein reduces the risk of coronary heart disease. The FDA has established that the introduction of soy protein into a regular diet reduces the levels of saturated fat and cholesterol in the human body, which reduces the risk of cardiovascular disease. These initiatives ensure significant market growth in the foreseeable future. However, the allergies associated with soy for some people, coupled with the lack of availability in some developing regions is acting as a major limitation to the global soy flour business. The easy access to other alternative nutritious products is also acting as a deterrent to the growth of the worldwide soy flour market.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2023 to 2029 |
|
Base Year |
2023 |
|
Forecast Period |
2024 to 2029 |
|
CAGR |
3.5 % |
|
Segments Covered |
By Type, Application And Region |
|
Various Analyses Covered |
Global, Regional and Country Level Analysis; Segment-Level Analysis; DROC; PESTLE Analysis; Porter’s Five Forces Analysis; Competitive Landscape; Analyst Overview of Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
|
Market Leaders Profiled |
Archer Daniels Midland Corn Processing, Cargill Inc, proteins CHS In, Devansoy Inc, Finnsoy, Foodchem International Corporation Proteins, Harvest Innovations, Kerry Group Ingredients, The Nisshin Oillio Group Ltd, Soy Foods & Materials Business, Ruchi soya Extraction, Sinoglory Enterprise Group. |
Major countries in these regions include Japan, China, India, Germany, the UK, the US, Canada, and Brazil. North America is the most prominent region in terms of consumption of soy flour. A huge volume share of soy flour market comes from the US in North America and Brazil in Latin America. Uruguay, Bolivia, and Ukraine are expected to have grown over the forecast period in terms of the market share of soy flour. Dominant regions in terms of soy food product market share in the Asia Pacific are India, Japan, and China. The Asia Pacific is expected to have huge growth in the market size of soy flour over the forecast period.
North America dominated the global market in 2018 and had the largest share of 32.5% during the forecast period. The United States is the main contributor to market growth. This growth is attributed to the growing importance of the vegan diet among consumers across the country.
Asia Pacific is the fastest-growing region in the international market. It is presumed to generate sales in excess of $ 930.0 million by the end of 2025. Japan is one of the largest consumers of soy flour in Asia-Pacific, as it is one of the most substantial traditional foods consumed nation. In 2018, Japan represented the largest share of 30.1%.
Large companies are offering new products to gain a competitive advantage in the market, as well as to satisfy consumers' changing food preferences. The launch of new products is foreseen to increase the reach of soy flour in the food industry during the outlook period.
Key Companies In Soy Flour Market are Archer Daniels Midland Corn Processing, Cargill Inc, proteins CHS In, Devansoy Inc, Finnsoy, Foodchem International Corporation Proteins, Harvest Innovations, Kerry Group Ingredients, The Nisshin Oillio Group Ltd, Soy Foods & Materials Business, Ruchi soya Extraction, Sinoglory Enterprise Group.
By Type:
By Application:
By Region:
Frequently Asked Questions
Soy flour is a powder made by grinding roasted soybeans into a fine powder. It is rich in protein and can be used as a substitute for wheat flour in many recipes.
Soy flour is commonly used in baking as a protein-rich ingredient in bread, cakes, cookies, and other baked goods. It is also used as a thickening agent in sauces and soups and as a nutritional supplement in food products.
Soy flour is rich in protein, fiber, vitamins, and minerals. It contains all the essential amino acids required by the human body and is low in saturated fat, making it a healthy addition to a balanced diet.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region