Soy Flour Market Size & Share, Global Sector / Industry Report & Analysis, 2019-2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Soy Flour Market

 
The global soy flour market size was valued at USD 2.9 billion in 2018. Increasing demand for the gluten-free flour with rich source of iron, proteins, vitamins, and calcium as well as pleasurable flavor characteristics in the food industry is expected to remain a favorable factor. Furthermore, rising importance of vegan diet in developed economies including U.S., Germany, and U.K. is projected to upscale the requirements of soy flour.
Over the past few years, the market has been witnessing significant growth owing to growing popularity of gluten-free, organic, natural, healthy, and baked food products. The flour is associated with various qualities such as it adds moisture and boosts protein and calcium in baked goods. Moreover, it provides a flavor of soymilks and textured vegetable protein. This multi-nutritional flour have resulted in enhancing the flavor, improving texture, and reducing the percentage of fat absorbed in food products.
 
Rising acceptance of soy derived flour in processed baked items owing to its nutritional qualities including gluten-free, trans-fat free, and whole grain food products is fueling the market growth. Increasing demand for processed foods including cakes, pastries, donuts, pies, and bread at a global level is expected to expand the scope of soy flour in the near future.
Moreover, major baked goods manufacturers are launching new products in order to cater to the growing consumer demand. For instance, in April 2016, Britannia Industries Ltd. launched ‘Vita Rich Slice’ bread made up of refined soy and wheat flour. These gluten-free products are a healthy substitute for various high cholesterol products and hence, they are beneficial for the cardiovascular disease patients.
Rising popularity of vegan diet is expected to propel the demand for soy derived flour owing to its nutritional value such as high dietary fiber and bio-active components including isoflavones. Moreover, flour derived from soy has gluten-free property and it acts as a prime source of protein in a vegan diet. In addition, flour derived from soy is beneficial in reducing the risk of cardiovascular disease.
In 1999, the Food and Drug Administration (FDA) approved that the usage of soy protein is beneficial for the health as well as it helps to reduce the risk of associated heart disease. Moreover, FDA authorized the product nutrition labels stating soy protein consumption reduces the risk of coronary heart disease. The FDA established that introduction of soy protein in a regular diet reduces the saturated fat and cholesterol level in the human body, thereby reducing the risk of cardiovascular diseases. These initiatives ensure significant growth of the market in the foreseeable future.

Market Segmentation, Outlook & Viewpoint: Global Soy Flour Market


Product Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Full-fat

Defatted


Application Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Bakery & Confectionery

Meat Substitute

Others


Key Players, Recent Developments & Regional Insights: Global Soy Flour Market


Full-fat and defatted flours are primarily used for the production of bakery and confectionary products, meat substitutes, functional drinks, and soy milk. According to the Soyfoods Association of North America, over the past few years, baked goods manufacturers have started using soy flour as a substitute for wheat flour by 10% to 30% of its total quantity in the products. This significant adoption of the product in the food industry has increased the scope of the market and is expected to fuel the product demand over the forecast period.
The product has a wide range of applications and in various forms such as dairy alternatives, baked goods, and meat alternatives. Full-fat flour is obtained by grinding soybean flakes directly, which have retained naturally occurring oil, whereas defatted flour is obtained by grinding soybean seeds after the extraction of soya oil.
In order to produce low-fat or defatted flour, a mechanical extractor is used that removes around 75% of the oil present in the seeds. Various innovative technologies are developed to extract oil from soy seeds such as using high pressure carbon dioxide as an extraction medium. These innovative technologies ensure the growth in the production of flour owing to rising demand for the soy derived flour in the food industry.
Application Insights
Soy and its derived products such as flour, milk, tofu, tempeh, and other soy products are some of the best meat substitutes available in the market. Moreover, the vegan population has increased the demand for the soy products over the past few years. According to the Vegan Society, demand for natural food and plant based products has been increased by more than 900% in 2017 and demand for vegan food products was the biggest food trend in 2018. Major manufacturers are adopting several strategies including switching to all vegan product portfolio and new product launch in order to cater to the rising demand from the consumers.
 
For instance, in March 2019, Morningstar Farms, a subsidiary of Kellogg Co., which produces vegetarian, vegan, and meat-less food products, has announced that it will go all vegan by 2021. Currently, the company has the consumption of 300 million eggs every year for the production of various baked goods such as bacon strips and sausage patties. These initiatives by major players ensures the significant demand for soy based flour in the foreseeable future.
Growing working population and rapid urbanization surge the popularity and demand for meatless and healthy food, which, in turn, is boosting the market growth. Furthermore, numerous health benefits such as gluten-free and low cholesterol products help to reduce the risk of cardiovascular diseases as well as reduction in menopausal symptoms and lower blood cholesterol. These health benefits are likely to boost the market growth in the foreseeable future.

Regional Insights
North America dominated the market in 2018 and held the largest share of 32.5% over the forecast period. U.S. is the largest contributor to the market growth. The growth of the market is attributed to rising importance of vegan diet among consumers in the country. Asia Pacific is the fastest growing region in the market. It is expected to generate a revenue of exceeding USD 930.0 million by the end of 2025. Japan is one of the largest consumers of soy based flour in Asia Pacific as it is one of the largest consumed traditional foods. In 2018, Japan accounted for the largest share of 30.1%.
Major companies are offering new products in order to gain a competitive edge in the market as well as to cater to the changing food preferences of the consumers. For instance, February 2019, Otsuka Pharmaceutical Co., Ltd. has introduced ‘SOYJOY Crispy Sakura’, whole soy nutrition bars. These new products are anticipated to increase the scope of soy based flour in the food industry over the forecast period.
Soy Flour Market Share Insights
The global market is consolidated in nature owing to presence of some major manufacturers. Key manufacturers are taking innovative steps in order to gain the maximum customer base as well as to lead the gluten-free flour industry. For instance, in August 2018, Lightlife Foods, a company producing vegan meat substitutes, announced to expand its retail chain from U.S. to the Canadian market. These strategies will boost the market growth in the forecast period.
Major producers are increasing their geographical reach, especially in developed countries, in order to gain the maximum technology penetration and customer reach. Establishment of R&D centers, coupled with strategic partnerships with investment companies in order to launch new innovative technologies as per the customer’s demand in the region, is anticipated to remain a critical success factor over the next few years. Taking into account all the above-mentioned factors, producers are likely to focus on technology innovation catering particularly to the developing countries and untapped market to gain the maximum market share.

Key Insights Covered: Global Soy Flour Market
1.  North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Soy Flour industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Soy Flour industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Soy Flour industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Soy Flour industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Soy Flour industry.

Research Methodology: Global Soy Flour Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
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Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other