Global Soy Flour Market - 2022-2029

Global Soy Flour Market - 2022-2029

Market Overview

The global soy flour market valued USD xx million in 2021 and is forecast to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029)

Soy flour is made by grinding roasted soybean into a powder. There are various types of soy flour such as full-fat, low fat and defatted soy flour. The more fat in the flour will develop an off-flavor if not stored properly. Soy flour doesn’t contain gluten, so it cannot replace entirely with defatted flour. It is best to substitute defatted flour with soy flour to ensure the best result when baking. Soy flour is considered a healthy food used in many food products. It is rich in vitamins, minerals, protein, and helps lower cholesterol and has proven good for preventing cancer and loss of bone mass. Soy flour is suggested for diabetes patients, including aged people and pregnant women. It is a type of high-quality protein because of its high lysine content compared with other cereal proteins. A surge in awareness about healthy products drives the demand for soy flour.

Market Dynamics:

Increasing demand for soy flour in processed and ready-to-eat food market

Soy flour is mostly used in many food products to enhance its nutritional value as it is high in protein and healthy oils, which is the major factor in driving the demand from food manufacturers. The growing population of working professionals and high disposable income are raising the demand for ready-to-eat products. The gluten-free trend is trending in the food industry, and soya flour is a gluten-free product. Also it has various health benefits like reducing the risk of heart diseases and lowering blood cholesterol, etc. It is strongly advisable for diabetic patients, mothers, growing children and aged people. It is 100% vegetarian. It offered the taste of soymilk and textured vegetable proteins trending worldwide and increasing demand for soy flour. Additionally, the rising popularity of the vegan diet propelled the demand for soy flour. Soy flour is owing to its nutritional value, such as high dietary fiber and bioactive components growing the demand for soy flour.

Moreover, food and drug administration approved the use of soy protein as beneficial to health and helped reduce the risk of cardiovascular disorder. The FDA established that regular consumption of soy protein reduces the risk of coronary heart disease. Also, soy protein reduces saturated body fat and cholesterol in the human body, which reduces the risk of cardiovascular disease. Such health benefits drive the growth of the soy flour market.

Market Segmentation:

Low fat soy flour segment held highest market revenue share of XX% in the year 2021

Low fat soy flour is produced using a dry and chemical-free process where oil is removed, resulting in a mild flavor with 70% less fat than soy roast. Various innovation technologies are developed to extract oil from soy seeds. High-pressure carbon dioxide is used to extract oil from soy. These advanced technologies ensure the growth in the production of low-fat soy flour. It improves product texture and adds moisture to the baked products. Soy flour also acts as a thickening agent for soups and gravies. This flour is used as egg substitution. This flour avoids extra calories, which helps to improve health. All these factors increase the demand for low-fat soy flour, which is responsible for the market's growth.

Soy flour has various applications, such as dairy alternatives, baked goods and meat alternatives. Over the past few years, manufacturers of baked goods started using soy flour as a substitute for wheat flour for 10-30% of their total quantity of product. This significant adoption of soy flour in the food industry has increased the scope of the market. The primary function of using soy flour in bread dough is to boost its protein content. Soy flour is around 50% protein, more than the wheat flour used to produce bread. The protein content of bread flour ranges from 9-14%. The inclusion of soy flour improves the machinability of the dough and the texture of the bread and adds a little nutty flavor. So demand from the bread manufacturer’s increase for the soy flour, which drives the market.

Geographical Penetration:

North America is expected to dominate the global soy flour market in the year 2021

North America is estimated to be the prominent region, owing to the presence of major key players in the food and beverages industry, such as Archer Daniels Midland Company, Cargill, Incorporated, and others. These food and beverage companies always seek the product to increase their production in that region, so that factor drives the soy flour market. The U.S. is the biggest contributor to pushing the growth of the soy flour market. Increase the demand for the product suitable for the vegan diet. The U.S.A. is the largest producer of soy which has attracted the manufacturers of soy flour to start their manufacturing units. Increasing awareness from consumers regarding the health benefits of soy has propelled manufacturers to include soy flour in their offerings. Also, customers demand for a high protein diet in the North American market shows positive market growth.

Competitive Landscape:

Key companies, such as Archer Daniels Midland Company, CHS Inc., Cargill, Incorporated, and DuPont among others, are prominent players in soy flour market. These players are focusing on increasing their production capacity to meet the global demand. For instance, in November 2021, ADM acquired a Serbian company specializing in Non-GMO soy products. Archer Daniels Midland has expanded into the plant-based and alternative-proteins market, announcing the final acquisition of sojaprotein. Sojaprotein is a European company specializing in Non-GMO soybean ingredients. The main target behind the acquisition was to increase production capacity and meet the increased consumer demand. In March 2020, Nestle unveiled its new vegan Milo, a plant-based version of the original delicious chocolatey mix. Nestle has replaced milk powders with soy protein. In June 2020, Nestle health science acquired a majority stake in vital protein. According to nestle, this acquisition proves that consumer mindsets shift towards bettering one's well-being. Moreover, In April 2022, ADM launched a plant-based innovation lab in Singapore. The lab will help a company increase the production of alternative proteins to meet growing food and beverage demand in the Asia Pacific region.

COVID-19 Impact: Positive impact on the global soy flour market

The pandemic has positively impacted the market worldwide. The market for soy flour is predicted to experience a spike in growth rate. The demand for functional foods is expanding with the consumer need for immunity-boosting supplements throughout and after a pandemic. Also, a surge in the consumption of plant-based protein supplements is in demand. Moreover, the pandemic also raises awareness about the healthy lifestyle and healthy food among consumers, which would lead to the demand for the soy flour market. The demand for healthy food items like flour, fruits, and vegetables has greatly increased, and the companies are taking the initiative to meet the requirements of the consumers. Major companies are focusing on increasing their Sales channels which play an important role in fulfilling the demand. Also, with the government supporting the production of essential food products and ease in restrictions, the Soy Flour market is expected to grow.

Why Purchase the Report?

Understand the current market scenario and viability of global soy flour market over the forecast period

Visualize the composition of the global soy flour market in terms of type and application and sales channel to identify major players, growth potential, and market strategies

Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period

Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study

Excel data sheet with valuable data points of the global soy flour market – Regional and Country level segmentation

Product mapping in excel for the key products of all major market players

Market share analysis covering business revenues ($) and revenue share (%) of key market players

The global soy flour market report would provide an access to approximately 61 market data tables, 56 figures and 180 pages

Target Audience:

Food and Beverages Manufacturers

Food Service Industry

Convenience Food Manufacturers

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