Soya Flour Market

Soya Flour Market Outlook (2022-2032)

Soya flour’s demand continues to accelerate by leaps and bounds with soya flour becoming highly predominant in food formulation on the back of its high nutritional value, low cost, and impressive functionality. Apart from being rich in protein content, soya flour contains soy isoflavones, B vitamins, omega-3 fatty acids, fiber calcium, and iron, giving manufacturers in the food industry the opportunity to serve rich-in-nutrition baked goods that are highly sought after by consumers today.

With availability in a full-fat form with all its natural oils, or in a ‘defatted’ form, wherein all the oils are removed during processing, soya flour is increasingly becoming a viable option for all kinds of consumers. ‘Defatted’ soy flour offers a slightly higher percentage of calcium and protein, while both forms of soy flour serve health benefits.

Burgeoning demand for soya flour can be further accredited to high-quality soy protein, dietary fiber, and vital bio-active components, like flavones, found in this versatile ingredient. Furthermore, soya flour is a gluten-free product that has been witnessing huge traction from health-conscious consumers and fitness trainers.

The market for soya flour globally accounts for USD 2845.62 Million in 2022. Moreover, this market is estimated to grow and reach up to USD 4697.39 Million by end of the forecast period which is by end of 2032. The growth rate of this market is anticipated to be a CAGR of 5.14% in the forecast duration i.e 2022-2032.

Report Attributes	Details
Market size (2022 A)	USD 2845.62 Million
Base Year for Estimation	2022
Forecast duration for this research	2022-2032
Forecasted Market value (2032 F)	USD 4697.39 Million
Global Market Growth rate (2022-2032 E)	CAGR of 5.14%
Key Companies Profiled	Kerry Group, Blue Ribbon, ADM, The Scoular Company, Sunopta, Bean Growers Australia, Cargill Incorporated, Anchor Ingredients

Soya Flour Market- Market Dynamics

“Demand for Gluten-Free Products Underpinning Gains in Soya Flour Market”

The global market for soya flour has been proliferating at a boisterous pace owing to the paradigm shift in consumer preference for gluten-free products. As gluten-free products are healthy substitutes for many cholesterol-heavy products, and hence, patients with cardiovascular diseases are increasingly adopting the former. Additionally, several manufacturers have been utilizing diverse forms of soya flour in a wide range of alternatives for meat, dairy, and baked goods, which is also likely to fuel growth in the soya flour market.

“Rising Demand from Food Industry Creating Opportunities”

As soya is a pivotal and vegan source of healthy oil and protein, soya flour is increasingly witnessing adoption in a wide range of food items, owing to its ability to improve nutritional value. This growing uptake of soya flour can be attributed to its unique and high-in-demand properties, such as enhanced water-absorption ability and high solubility. Furthermore, owing to soya flour’s several health benefits, it has been recently recognized by food scientists and medical practitioners. This factor is further likely to pave way for the growth of the worldwide soya flour market in upcoming years.

Application Insights

Soy products such as flour are usually seen as meat replacements available in the market. The rising vegan populace’s demanding soya products is increasing in the last decade. The vegan food demand is the biggest dietary trend in the market where manufacturers are adopting many strategies to turn up their vegan food portfolio where soya flour is supposed to cater to aggregate demand.

The company Kellogg Co. in 2021 announced it has entered into meatless food products and intended to go vegan in upcoming products where baked goods will now have the application of soy-based flour in the forecast period. There is evident growth in the working population which marks a surge in demand for healthy food and gluten-free options. Soya flour tends to provide benefits in terms of low cholesterol and is effective in menopausal symptoms which is likely to boost the market growth in the forecast duration.

Opportunities in the soya flour industry

As soya is a pivotal and vegan source of healthy oil and protein, soya flour is increasingly witnessing adoption in a wide range of food items, owing to its ability to improve nutritional value. This growing uptake of soya flour can be attributed to its unique and high-in-demand properties, such as enhanced water-absorption ability and high solubility. Furthermore, owing to soya flour’s several health benefits, it has been recently recognized by food scientists and medical practitioners. This factor is further likely to pave way for the growth of the worldwide soya flour market in upcoming years.

“Modified Soya Flour Witnessing Colossal Traction”

Modified soya flour has been gaining ground as an impeccable binder in diverse food products and several industrial products. With beneficial properties, such as solubility and absorption abilities, modified soya flour significantly enhances the functional characteristics of the food items it is added to.

The accelerating demand for modified soya flour can be attributed to the highly beneficial characteristics of soya flour. In recent times, several other industrial uses of modified soya flour have come to the fore, which in turn is expected to bring more traction to modified soya flour, thereby fuelling growth in the soya flour market in the upcoming years.

Recent Developments

Some of the leading players operating in the soya flour market include Ingredion, Kerry Group, Blue Ribbon, ADM, The Scoular Company, Sunopta, Bean Growers Australia, Cargill Incorporated, Anchor Ingredients, EHL Limited, Diefenbaker Spice and Pulse, Great Western Grain, Best Cooking Pulses, and Batory Foods.

• Two of the leading players in the soya flour market, Cargill and Archer Daniels Midland Company have successfully completed their deal and formally introduced SoyVenTM their novel JV to offer soybean oil and meal for customers in Egypt.
• Another soya flour market leading player, SunOpta Inc., a company focused on non-genetically modified, organic, and specialty foods has strategically sold its specialty and organic soy and corn business to Pipeline Foods, LLC for $66.5MN.

Regional Insights

The Soya flour market is dominated by the North American region owing to the largest share in 2021 which is almost one-fourth of the global soy flour market. The growth of the market is attributed to the rising importance and adoption of a vegan diet by people is a responsible factor for growth in market share. The revenue generated by leading countries such as US and Canada are expected to see a rise in revenue in the forecast period. The revenue is likely to exceed USD 930 Million in the forecast period.

Among the Asia Pacific region, Japan is likely to become the largest soya flour consumer in upcoming years as this country accounted for about 30% share of soya flour products in the region. The traditional food products in Japan are majorly made using soya flour which is anticipated to increase demand in the future period.

Soya Flour Market - Segmentation

• By Product Type :

  • Full fat soya flour 

  • Defatted soya flour 

• By Application :

  • Food & Beverages
  • Feed
  • Personal Care
  • Others

• By Regional Analysis :

  • North America
    • U.S.
    • Canada
  • Latin America
    • Mexico
    • Brazil
    • Argentina
    • Chile
    • Peru
  • Western Europe
    • Germany
    • Italy
    • France
    • U.K
    • Spain
    • BENELUX
    • Nordic
    • Eastern Europe
  • CIS and Russia
  • Asia-Pacific
    • China
    • India
    • ASEAN
    • South Korea
  • Japan
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Turkey
    • Iran
    • Israel