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Soy Flour Market Analysis By Type (Natural Or Full Fat, Low Fat And Defeated), By Application (Bakery, Meat Substitutes, Functional Food, Dairy Alternative, Confectionery, Baby Food Products And Others) And By Region (Latin America, North America, Asia Pacific, Europe, Middle East and Africa) - Global Industry Analysis, Size, Share, Growth, Trends, and Competitive Forecast Report 2022 to 2027

Published: March, 2023
ID: 5515
Pages: 175
Formats: report pdf report excel report power bi report ppt

Soy Flour Market Size, Share, Growth (2022-2027)

Soy Flour Market size is expected to reach USD 3.7 billion by 2027, with a CAGR of 3.5% during the forecast period.

Overview:

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 fiber, 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 skepticism are the aspects hampering the development of the Soy Flour Market.

Soy Flour Market Recent Developments:

  1. In 2020, Nestle launched a vegetarian version of its popular malted-chocolate MILO. Now MILO contains soy, soluble corn fiber, oat flour, and sunflower oil

  2. In 2019, Smithfield Foods launched a new soy-based portfolio comprising of eight products. It has partnered with Pure Farmland for the same

  3. In February 2019, Otsuka Pharmaceutical Co., Ltd. introduced "SOYJOY Crispy Sakura", whole soy nutrition bars.

  4. In June 2018, Louis Dreyfus Company (China) opened its new oilseed processing plant in Tianjin. The new facility has the capacity to grind 4,000 tons of soybeans and a refining capacity of 1,200 tons.

  5. In April 2016, Britannia Industries Ltd. launched "Vita Rich Slice" bread made from refined soybeans and wheat flour.

Soy Flour Market Drivers and Restraints:

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 favorable 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 fiber 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

2021 – 2026

Base Year

2021

Forecast Period

2022 - 2027

CAGR

3.5%

Segments Covered

By Type, By Application

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on 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

Soy Flour Market Regional Analysis:

  • North America (U.S. and Canada)

  • Europe (U.K., France

  • Germany and Rest of Europe)

  • Asia Pacific (Japan, China, India and Rest of APAC)

  • Latin America (Brazil, Mexico and Rest of Latin America)

  • Middle-East & Africa (GCC and Rest of MEA)

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.

Soy Flour Market Detailed Segmentation Analysis:

Based on Type:                              

  • Natural or Full fat 

  • Low fat     

  • Defatted or Fat-free            

Based on Application:                 

  • Bakery      

  • Meat Substitutes 

  • Functional Foods  

  • Dairy Alternatives

  • Confectionary        

  • Baby Food Products      

Impact of COVID-19 on Global Soy Flour Industry:

The COVID-19 pandemic has affected markets all around the world. Although most of the markets have experienced a sharp decline in growth rate, the market for soy flour is predicted to experience a spike in growth rate. The need for functional foods is likely to expand with the consumer need for immunity-boosting supplements throughout and after the coronavirus pandemic. Also, the surges in the consumption of plant-based protein supplements will still the global demand in the near future. Moreover, the pandemic would also raise more awareness about the importance of a healthy lifestyle and healthy food among consumers, which would lead to an increase in demand for soy-based products.

Leading Key Companies Covered in this market report are:

  1. Archer Daniels Midland Corn Processing

  2. Cargill Inc

  3. proteins CHS In

  4. Devansoy Inc

  5. Finnsoy,

  6. Foodchem International Corporation Proteins

  7. Harvest Innovations

  8. Kerry Group Ingredients

  9. The Nisshin Oillio Group Ltd

  10. Soy Foods & Materials Business

  11. Ruchi soya Extraction

  12. Sinoglory Enterprise Group

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