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The soy flour market size is forecast to increase by USD 706.7 million, at a CAGR of 4.5% between 2023 and 2028. The agricultural sector is witnessing significant shifts in consumer preferences, driven by several key trends. The growing vegan population and rising demand for organic products are two such trends shaping the industry's landscape. The vegan population is on the rise, with more people adopting plant-based diets for ethical, environmental, and health reasons. Simultaneously, there is a surging demand for organic produce, as consumers become increasingly conscious of the health benefits and environmental sustainability of organic farming. Furthermore, governments worldwide are recognizing the importance of organic farming and are providing support through various initiatives and subsidies. These trends are set to transform the agricultural sector, with organic farming and plant-based food production becoming increasingly mainstream.
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The market is witnessing significant growth due to the increasing demand for soy-based products, particularly from the health-conscious population. Soy flour is derived from soybeans and is a rich source of vitamins, minerals, and isoflavones. It is often used as a substitute for wheat flour in various food applications. Soy flour is also used in the production of lecithin, which is an essential emulsifier in the food industry. Diabetics, expectant mothers, and growing children are among the key consumer groups driving the demand for soy flour. Full-fat, defatted, and low-fat soy flour varieties are available in the market, catering to different consumer preferences. Soy flour is also used in the production of functional food ingredients such as Beta-glucan, soups and sausages, and dietary fiber. The functional characteristics of soy flour, including its solubility and absorption abilities, make it an ideal ingredient for various food applications. Soy flour is also a rich source of protein and is gluten-free, making it a popular choice for individuals with gluten intolerance. The market for soy flour is expected to grow significantly due to its health benefits and functional properties. Soy flour is widely available in various retail formats, including online stores, convenience stores, departmental stores, modern trade, and direct sales. The market for soy flour is expected to grow further due to its use as a functional ingredient in the food industry, particularly in the production of functional food ingredients and cardiovascular disease treatments.
Growing vegan population is notably driving market growth. Soy flour, derived from soybeans, is gaining popularity due to its versatility and numerous health benefits. This plant-based ingredient is increasingly being used as a wheat flour substitute in various food applications, including baked goods, cereals, and confectioneries. Soy flour is rich in dietary fiber, carbohydrates, proteins, and healthy fats, making it an excellent alternative for individuals with gastric problems such as constipation or stomach bloating. Moreover, soy flour is known for its cardiovascular health benefits. It contains beta-glucan, a type of soluble fiber that helps lower bad cholesterol levels and improve insulin sensitivity. This makes it an ideal ingredient for health-conscious consumers and those at risk of cardiovascular disease. Soy flour is also used in the production of baby foods, pet food, and as a dietary supplement. In the health food industry, it is used as a functional food ingredient due to its bioactive components and functional characteristics. Soy flour is also used as a dairy substitute in ice creams, milk products, and soups and sausages. The increasing trend of veganism and the health-conscious population's growing preference for plant-based diets are driving the demand for soy flour. It is used as a protein source and a thickening agent in various food applications.
Additionally, soy flour is gluten-free, making it an excellent alternative for individuals with gluten intolerance. Furthermore, soy flour is used in cosmetics as a functional ingredient due to its absorption abilities and disease prevention properties. It is also used in the production of organic substitutes for various food products and as a functional food ingredient in the production of functional food ingredients. In conclusion, soy flour is a versatile and nutritious ingredient that offers numerous health benefits. Its use as a wheat flour substitute, protein source, and functional food ingredient in various food applications, including baked goods, cereals, confectioneries, and dairy products, is driving its demand. The increasing trend of veganism and the health-conscious population's preference for plant-based diets are also contributing to the growth of the soy flour market. Thus, such factors are driving the growth of the market during the forecast period.
High nutritional value of soybeans is the key trend in the market. Soy flour, derived from soybeans, is a versatile and nutritious ingredient with numerous applications in various industries. This protein-rich flour is a valuable source of essential amino acids, including histidine, isoleucine, leucine, lysine, methionine, phenylalanine, threonine, tryptophan, and valine. Soybeans are also rich in dietary fiber, which aids in the prevention and relief of constipation and gastric problems. The fiber in soy flour has been shown to help lower bad cholesterol levels, improve insulin sensitivity, and reduce the risk of cardiovascular disease. Soy flour is widely used as a wheat flour substitute in baked goods, cereals, and confectioneries. It is also an organic substitute for dairy products in ice creams, milk, and other milk products. In the health food industry, soy flour is used as a dietary supplement and in the production of baby foods. It is also used in pet food and cosmetics. The functional characteristics of soy flour include its solubility and absorption abilities, making it an effective functional food ingredient. Soy flour is also gluten-free and a rich source of protein, making it an ideal substitute for wheat flour in various applications.
Additionally, soy flour contains bioactive components such as beta-glucan, which contribute to its health benefits, including disease prevention and health maintenance. Soy flour is used in various industries, including direct sales, food manufacturing, and cosmetics. It is a valuable ingredient in the production of soups and sausages, and it is also used in the production of dietary fiber supplements. The protein content and functional characteristics of soy flour make it a popular ingredient in the production of functional food ingredients and functional food products. Thus, such trends will shape the growth of the market during the forecast period.
Presence of other substitutes is the major challenge that affects the growth of the market. The global soy flour market faces impediments due to the availability of alternative plant-based proteins. Consumers are increasingly preferring pea, wheat, rice, pulse, canola, flax, and chia proteins as substitutes for soy flour. These alternatives offer similar health benefits, such as fiber for cardiovascular disease prevention, insulin sensitivity improvement, and bad cholesterol level reduction. Moreover, they are gluten-free and suitable for individuals with gastric problems like constipation and stomach bloating. The food industry uses these alternatives in various applications, including baby foods, confectionaries, cereals, pet food, health food stores, and food cooperatives.
However, soy flour's functional characteristics, such as solubility, absorption abilities, and protein source, make it a valuable ingredient in baked goods, soups, and sausages. Furthermore, soy flour's beta-glucan and bioactive components contribute to disease prevention and health maintenance. Thus, despite the competition, soy flour remains a functional food ingredient with numerous health benefits. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The bakery and confectionery segment is estimated to witness significant growth during the forecast period. The Soy Flour Market holds a substantial share in the bakery and confectionery sector due to soy flour's unique properties, such as solubility, absorption capabilities, and nutritional benefits. Soy flour is a popular ingredient in gluten-free, trans-fat-free, and whole-grain food products, making it an ideal choice for bakery items like bread, pastries, and cakes. The growing demand for bakery products, particularly during festive seasons and special occasions, fuels the global soy flour market's growth.
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The bakery and confectionery segment accounted for USD 984.80 million in 2018. Additionally, vegan consumers and individuals following a vegan diet opt for soy flour as a meat substitute in soups, sausages, meat and poultry alternatives, and processed baked items. Full-fat and defatted soy flour varieties cater to diverse market segments. Full-fat soy flour is used in bakery products and meat substitutes, while defatted soy flour is preferred for soups and sausages. Online stores, convenience stores, departmental stores, and modern trade channels are the primary distribution channels for soy flour, ensuring easy accessibility to consumers. In summary, the global soy flour market is driven by the increasing demand for bakery products, nutritional benefits, and diverse applications in various consumer segments. The market is expected to remain robust during the forecast period, with key players focusing on innovation and product development to cater to evolving consumer preferences.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The Soy Flour Market derives significant demand from various consumer segments, including diabetics, expectant mothers, growing children, cardiac patients, and weight-watchers. Soy flour, made from soybeans, is a rich source of essential vitamins, minerals, isoflavones, and lecithin. Its nutritional benefits make it an ideal ingredient for vegan products, gluten-free food, and bakery products. Soy flour is used in the production of full-fat and defatted varieties, catering to diverse industry requirements.
Further, bakery & Confectionery industries utilize soy flour extensively in making cakes, pastries, pies, donuts, and bread. Cardiovascular disease patients and those following a vegan diet often opt for soy protein-rich soy flour as a meat substitute. In the food processing sector, soy flour is used in soups, sausages, meat substitutes, and meat and poultry products. Online stores, convenience stores, departmental stores, and modern trade outlets stock various types of soy flour, including low-fat, full-fat, and defatted, to cater to the diverse needs of consumers.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The market is a healthy and versatile ingredient in bakery, food, and nutritional Industries Soy Flour Market is witnessing significant growth due to the increasing demand for soy-based products in various industries. Soybeans are the primary source of soy flour, which is rich in vitamins, minerals, isoflavones, and lecithin. This nutrient-dense ingredient offers numerous health benefits, making it an ideal choice for diabetics, expectant mothers, growing children, cardiac patients, weight-watchers, and the aged. Soy flour is a popular alternative to wheat flour in bakery products, including cakes, pastries, pies, donuts, bread, and pies. It is also used in soups, processed baked items, and meat substitutes.
Moreover, full-fat and defatted soy flour are the two main types, catering to different industry requirements. The growing popularity of vegan products and gluten-free food trends is further propelling the soy flour market. Cardiovascular disease patients and those following a vegan diet often prefer soy protein, which is a key component of soy flour. The market is segmented into various categories, including Bakery & Confectionery, Meat Substitute, Soup & Sausages, Meat and Poultry, Full-Fat, Defatted, Low Fat, Online Stores, Convenience Stores, Departmental Stores, and Modern Trade. In conclusion, the Soy Flour Market is poised for continued growth, driven by its versatility and health benefits across various industries.
Market Scope |
|
Report Coverage |
Details |
Page number |
138 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
Market growth 2024-2028 |
USD 706.7 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.23 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, China, Canada, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Archer Daniels Midland Co., Batory Foods, Bobs Red Mill Natural Foods Inc., Calpro Specialities, Cargill Inc., CHS Inc, Devansoy Inc., Foodchem International Corp., International Flavors and Fragrances Inc., Kerry Group Plc, Linyi Shansong Biological Products Co. Ltd., PacificSoybean and Grain, Qingdao ICD Biochemistry Co.Ltd., Sakthi Soyas Ltd, Shandong Yuxin Biotechnology Co. Ltd., Soy Austria GmbH, Sonic Biochem Extraction Pvt. Ltd., The Scoular Co., and Unitechem Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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