Soy Flour Global Market Report 2024

“Soy Flour Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on soy flour market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for soy flour? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The soy flour market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

• 1) By Type: Defatted Fat; Full Fat
• 2) By Distribution Channel: Online Stores; Convenience Store; Departmental Store; Direct Sales; Others distribution channel
• 3) By Application: Bakery And Confectionery; Meat Substitute; Meat And Poultry; Soups And Sausages; Other Applications
• Companies Mentioned: Archer Daniels Midland Company; Devansoy Inc.; Sakthi Soyas Limited; Foodchem International Corporations; Bob's Red Mill Natural Foods
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Soy flour is a flour variant produced by grinding roasted soybeans, known for its high protein content, making it an excellent source of plant-based protein. This type of flour is frequently utilized as a gluten-free alternative to wheat flour in the preparation of various baked goods, including bread, cakes, and cookies.

There are two main types of soy flour defatted and full fat. Defatted soy flour is created by extracting most of the fat from soybeans. These soy flour varieties are widely distributed through diverse channels such as online stores, convenience stores, departmental stores, direct sales, and others. They find applications in a range of culinary uses, including bakery and confectionery items, meat substitutes, meat and poultry products, soups, sausages, and more. The versatility of soy flour makes it a valuable ingredient in various food preparations and a preferred choice, especially in gluten-free recipes.

The soy flour market research report is one of a series of new reports from The Business Research Company that provides soy flour market statistics, including soy flour industry global market size, regional shares, competitors with a soy flour market share, detailed soy flour market segments, market trends, and opportunities, and any further data you may need to thrive in the soy flour industry. This soy flour market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The soy flour market size has grown strongly in recent years. It will grow from $2.99 billion in 2023 to $3.18 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The expansion observed in the historical period can be attributed to several factors, including the rise in chronic diseases, heightened health awareness among the population, advancements in healthcare infrastructure, the growing adoption of home blood pressure monitoring, adherence to regulatory standards and guidelines, and evolving healthcare reimbursement policies. These elements collectively contributed to the overall growth and development within the healthcare sector during the specified historic timeframe.

The soy flour market size is expected to see strong growth in the next few years. It will grow to $3.97 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The anticipated growth in the forecast period can be attributed to an increased emphasis on preventive healthcare, population health management strategies, global initiatives aimed at hypertension control, and the impact of a growing aging population worldwide. Notable trends expected during this period encompass the proliferation of e-health and mobile health apps, the rise of personalized medicine, the adoption of point-of-care testing, innovations in cuff design and comfort for blood pressure monitoring, the integration of wireless and connected devices, and the broader trend of digitalization and automated blood pressure monitoring. These trends collectively reflect the evolving landscape of healthcare, with a focus on leveraging technology and preventive measures for improved health outcomes.

The escalating demand for vegan food is anticipated to drive the expansion of the soy flour market in the foreseeable future. Vegan food, characterized by the absence of any animal products or by-products, advocates for cruelty-free and sustainable alternatives. Soy flour, a highly versatile ingredient, is extensively utilized in a diverse array of vegan foods, offering a premium plant-based protein option. Notably, in March 2022, data from the Plant Based Foods Association (PBFA) and Good Food Institute (GFI) revealed a 6% growth in the US plant-based food industry in 2021, surpassing the overall food industry growth rate by threefold and reaching a total market size of $7.4 billion. Consequently, the surge in demand for vegan food is a key driver propelling the soy flour market.

The surging trend of health consciousness is poised to fuel the expansion of the soy flour market in the coming years. Health consciousness, indicative of an individual's active concern and efforts towards maintaining physical and mental well-being, is driving the preference for nutritious ingredients such as soy flour. With its adaptability and nutritional benefits, soy flour contributes to health promotion by aiding in cholesterol reduction, blood pressure management, and protection against heart disease. For instance, in January 2021, a survey conducted by Public Health England, an executive agency focused on public health in England, revealed that approximately 80% of adults over 18 have committed to adopting a healthy lifestyle, with 40% emphasizing a commitment to healthy eating. As a result, the escalating trend of health consciousness is a significant factor propelling the growth of the soy flour market.

The soy flour market is witnessing a prominent trend centered around product innovation, with key players dedicating substantial efforts to introduce novel products and fortify their market positions. A noteworthy example is the launch of Benson Hills' Truvail, a new soy protein ingredient portfolio, in February 2022. This portfolio encompasses high protein soy flour, a minimally processed variant of soy protein concentrate (SPC), and texturized proteins. TruVail products cater to both traditional soy protein applications and the rapidly expanding alternative plant-based protein markets. Notably, the portfolio emphasizes sustainability benefits, including a low carbon footprint achieved through regenerative agriculture practices and sustainable sourcing methods.

Major players in the soy flour sector are prioritizing collaboration and partnerships to enhance service reliability for customers. A strategic partnership example is the collaboration between Archer-Daniels-Midland (ADM), a US-based food processing and commodities company, and Benson Hill in August 2022. This partnership aims to scale the production of innovative soy-based protein ingredients to meet the surging demand for plant-based proteins across diverse food and beverage markets. Under this exclusive licensing agreement in North America, ADM is slated to process and commercialize a portfolio of patented compounds derived from Benson Hill's Ultra-High Protein (UHP) soybeans.

In May 2022, Benson Hill, a prominent crop improvement company based in the United States, successfully completed the acquisition of ZFS Creston for an undisclosed sum. This strategic acquisition is poised to fortify Benson Hill's leadership position in the competitive plant-based protein industry and expedite the company's ongoing endeavors to establish more sustainable food systems. Additionally, the acquisition is expected to enhance Benson Hill's technological capabilities, enabling the company to leverage its advanced technology for the improvement of sustainability and nutritional aspects in the cultivation of corn and soybean crops. ZFS Creston, a US-based food-grade company specializing in white flake and soy flour manufacturing operations, aligns strategically with Benson Hill's objectives, contributing to the overall diversification and growth of the company's offerings in the dynamic plant-based protein sector. This acquisition underscores Benson Hill's commitment to driving innovation and sustainability within the food industry.

Major companies operating in the soy flour market report are Archer Daniels Midland Company, Devansoy Inc., Sakthi Soyas Limited, Foodchem International Corporations, Bob's Red Mill Natural Foods, CHS Inc., Sonic Biochem Extraction Pvt. Ltd., DuPont de Nemours Inc., Kerry Group, Living Foods India Private Limited, Ruitenberg Ingredients BV., BIC Ingredients B.V., Makendi Worldwide, GCHI International Mercantile Inc., Sun Nutrafoods, Cargill Incorporated, Bunge Limited, The Scoular Company, Fuji Oil Co. Ltd., SunOpta Inc., SOJAPROTEIN, Ingredion Incorporated, The Hain Celestial Group Inc., Burcon NutraScience Corporation, worldfoodindia.gov.in, Specialty Commodities Inc., Ag Processing Inc., Euroduna Food Ingredients GmbH, The Nisshin OilliO Group Ltd., Natural Products Inc.

North America was the largest region in the soy flour market in 2023. Asia Pacific is expected to be the fastest-growing region in the global soy flour market during the forecast period. The regions covered in the soy flour market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the soy flour market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The soy flour market consists of sales of full-fat and low-fat soy flour, soy protein concentrate, and soy protein isolate. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.