Global Soy Flour Market Size, Trends & Analysis - Forecast to 2026 By Product (Full-fat Flour, Defatted Flour), By Application (Bakery & Confectionery, Meat Substitute) By Region (North America, Asia Pacific, Europe, Latin America, Middle East & Africa); End-User Landscape, Company Market Share Analysis, and Competitor Analysis
Soy Flour Market Insights
Soy flour is made by grinding soybeans. It is a high-protein source that is commonly used in the food industry as an ingredient in baking products, confectionaries, infant foods, cereals, and pet food. Soy flour enhances the flavour and texture of food.Soy flour is sold in bulk and packaged form in supermarkets/hypermarkets, health food shops, and food cooperatives, among other places. Soy flour is separated from ground soybeans which upgrade protein, give moisture to bakery products, and gives a strong base to soymilks and finished vegetable protein.
It improves taste just likethe surface of food varieties and brings down fat retention in singed food sources. Soy flour tastes good to sweet and gentle flavor.Soy flour is an astounding wellspring of soy protein, biodynamic segments, for example, isoflavones, and dietary fiber. This fixing is an incredible wellspring of iron, potassium, and B nutrients. It has a bio-dynamic part that gives help from menopausal indications like hot blazes, forestall bosom malignant growth, prostate disease, colorectal malignant growth and keep up sound bones. Soy material, including flours, cornmeal, protein concentrates, protein detaches, finished soy protein, soybeans and germs have discovered a variety of uses in bread kitchen items.
An increase in bakery industry items and soups contributes to the growth of the global soy flour market as it is used as a thickener in several products and has high nutrients.The expanding prevalence of the veggie lover diet is relied upon to push the interest for soy-determined flour attributable to its health benefit, for example, high dietary fiber and bioactive segments including isoflavones. Besides, flour got from soy has sans gluten property and it goes about as a superb wellspring of protein in a veggie lover diet.
Likewise, flour got from soy is advantageous in lessening the danger of cardiovascular problems.Due to the expanding urbanization and the developing populace of working experts interest in prepared-to-eat items is expanding is one of the leading drivers for expanding interest in soy flour in the worldwide market.Also, the consumption of soy flour due to the requirement of protein-rich products in the Japanese market has proved to be a good driver in the Asia Pacific market.
Soy Flour Market: ByProduct
Based on theproduct,the soy flourmarket can be segregated into full-fat and defatted. DefattedSoy Flourhas the highest market share in this segment owing to its properties that are much healthier for the body. A mechanical extractor is used to remove approximately 75% of the oil contained in the seeds to produce low-fat or defatted flour. To extract oil from soy seeds, various technological advances are being developed, including the use of high-pressure carbon dioxide as an extracting solvent.Moreover, due to the increasing demand for soy-derived flour in the food industry market, these advanced technologies ensure an increase in flour production.
Soy Flour: By Application
Based on the application segment, the soy flourmarket can be segregated into bakery & confectionery, and meat substitute, among others.Meat substitute is estimated to hold the largest market share as per application as it is a substitute to the nonvegetarian foods for people obsessed with a good physique.The key factors influencing this market are growing environmental issues and increased awareness of the health benefits of meat substitutes. As per the Vegan Society, production of natural food and plant-based goods increased by more than 900 percent in 2017, with vegan food products becoming the most popular food trend in 2018.
Also, bakery products have a good share in the market owing to the increasing number of soy flour in bakery products.The increased use of soy flour in baking products and soups contributes to the growth of the global soy flour market because it is used as a thickener in many products and contains a lot of nutrients.
Soy Flour Market: By Region
As per the geographical analysis, the market of Soy Flour can be classified into North America (the US, Canada, and Mexico), Asia Pacific (India, China, Japan, Malaysia, Singapore, and Rest of Asia Pacific), Europe (Germany, United Kingdom, Italy, France, Spain, Netherlands, and Rest of Europe), Middle East & Africa and Central South America. North America is the market dominator in this business due to the increasing importance of a vegan diet among the country's consumers and the rising demand for soy flour in dietary products is attributed to the market's rise. Following North America is Europe where the usage of soy products is witnessing decent growth owing to healthy food requirements.
Asia Pacific market is projected to be the fastest-growing market.Major corporations are introducing new products to achieve a competitive advantage in the industry and to appeal to customers' shifting food preferences.Over the forecast era, such products are projected to expand the presence of soy-based flour in the food sector. Wheat-based meat substitutes are more common in the Asia Pacific, while soy-based products are more common in the West. Strong demand from emerging economies such as China and India paints an optimistic picture for regional markets.
Soy Flour Market Share and Competitor Analysis
Nestle, Otsuka Pharmaceutical Co. Ltd., Archer Daniels Midland Company, CHS Inc., Foodchem International Corporation, Vippy Industries Ltd., The Scoular Company, Cargill, Incorporated, Dow DuPont, SunOpta, Devansoy Inc., Britannia Industries Ltd., Smithfield Foods, and UNITECHEM CO., LTD are the top players in the global soy flour market.
Please note: This is not an exhaustive list of companies profiled in the report.
In 2020, Nestle released a vegetarian version of its famous malted chocolate Milo. Milo also includes soy, soluble corn fiber, sunflower oil, and oat flour.
In February 2019, Smithfield Foods collaborated with Pure Farmland and introduced its new offering, a new soy-based range of eight products.
Check the Press Release on Global Soy Flour Market Report
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The Global Soy Flour Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Soy Flour Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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