Soya Flour Market Size, Share, Growth and Industry Analysis by Type (Natural, Or Full-Fat Soya Flour, Low-Fat Soya Flour, And, Defatted Soya Flour), By Application (Bakery Products, Dried Milk, Meat Analogues, Health Products, And, Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Soya Flour Market Report Overview

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The global soya flour market size was USD 1328.1 million in 2022 and is projected to touch USD 1778.79 million by 2031 with a CAGR of 3.3% during the forecast period.

Soya flour is a fine powder that is obtained from grinding soyabeans that are roasted. Soya flour is high in nutritional value and when it is added to baked items it improves the taste as well as the health benefits of consuming it. Soya flour is a very rich source of protein and also has the ability to enhance the texture via lipid oxidation.

A lot of developments are being seen in the global soya flour market. The increasing demand for this product is widening the market scope. People going vegan and opting for gluten free food products like soya flour is a new development in the recent days. This is identified as the latest trend in the market currently.

Key players in the market have taken a step further to increase their investments and fundings, especially in this industry. A few factors have favored the growth of the market. Soya flour has excellent health benefits and can heal a lot of health problems. Consumption of soya flour will also tremendously help in reducing the symptoms of menopause. These act as the factors driving the market growth.

COVID-19 Impact: Rise in Demand for Nutritious Food During the Pandemic Increased the Market Share

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Health was the major concern during the pandemic of COVID-19. Along with the decline in the demand and sales of many markets the number of people suffering from infections increased drastically during that period. The weak immune system of people was the main reason for the sudden infection caused by the corona virus.

Therefore, people shifted their entire focus on improving and increasing their immune system to protect themselves from the disease. As a result, there was a sudden spike in the consumption of health food products like fruits, vegetables, and soya flour. This helped in increasing the global soya flour market growth during the period of pandemic.

LATEST TRENDS

"Increasing Demand for Vegan and Gluten Free Products to Increase the Market Growth"

Growing health awareness among people to take proper care of their health is an important factor that has propelled the global soya flour market share. People are changing their preferences and are opting for healthier options like vegan, and, gluten free products.

Soya flour is a very important source of gluten free product. Rather than using white flour which is a major source of gluten and carbohydrate soya flour can be used as a substitute. It not only acts as a better substitute but also provides a lot of proteins. People going vegan and opting for gluten free food products like soya flour is a new development in the recent days.

Soya Flour Market Segmentation

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• By Type:

The market can be divided on the basis of type into the following segments:

Natural, or Full-Fat Soya         Flour,   Low-Fat Soya   Flour, and, Defatted Soya Flour. The natural or full-fat soya flour segment is anticipated to dominate the market during the forecast period.

• By Application:

Based on application, the market share is bifurcated into the following segments:

Bakery Products,         Dried   Milk,    Meat   Analogues,      Health             Products, and, Others. The bakery products segment is expected to dominate the market during the forecast period.

DRIVING FACTORS

"The Reduced Risk of Heart Diseases from Consumption of Soya Flour to Amplify Market Growth"

Soya flour has excellent health benefits and can heal a lot of health problems. It is an excellent source of iron, calcium, protein, and, vitamin B. Apart from providing heath it can also add a good texture and a tasty flavor to the food products. 

The major benefit of consuming soya flour is that it reduces the risk of heart diseases. In the year 1999, the FDA confirmed that the usage of soya flour reduced the risk of coronary diseases. Using soya flour with less saturated fats and cholesterol will drastically improve our heart health. Incorporating soya flour into our diet can reduce our cholesterol levels and can also control the blood pressure.  This has been a major driving factor for amplifying the growth of the market.  

"Reduction of Menopausal Symptoms to Impede the Market Growth"

Apart from promoting good heart health, consumption of soya flour will also tremendously help in reducing the symptoms of menopause. Menopausal women can benefit a lot just by adding soya flour into their diets. The amazing health benefits given by soya flour acts as a major factor driving the market growth.

Soya flour is helpful in reducing night sweats, irritability, mood swings, hot flashes, and other undesirable feelings experienced during menopause. According to one of the research projects conducted by the University of Maryland Medical center, reports suggest that women who consume soya flour experience fewer symptoms of menopause. This can be one of the best benefits of consuming soya flour.

RESTRAINING FACTOR

"Availability of Cheaper and Better Substitutes to Bring Down the Market Share"

Even though soya flour has a lot of health benefits it can be easily get substituted by other products which are cheaper and are considered as the better substitutes. There are many other flours that are available in the market which are gluten free and also nutritional.

Chickpea flour, almond flour, quinoa flour, lupin flour, chestnut water starch, and coconut flour are some of the other healthier substitutes that can replace soya flour. This acts as the factor restraining the market growth.

Soya Flour Market Regional Insights

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"Asia Pacific to Dominate the Market Share in the Upcoming Years "

Asia Pacific has acquired a major share of the market. Many top industry players are present in this region and they have contributed a lot in making Asia Pacific the leading shareholder of the market.

The major factor contributing to the market development in Asia Pacific is the increasing health awareness among people. The tremendous health benefits given by soya flour is attracting a lot of consumers in this region towards the market. All of these factors are collectively contributing to the market growth in Asia Pacific.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• ADM (U.S.)
• Cargill (U.S.)
• CHS (U.S.)
• Danisco (Denmark)
• Soja Austria (Austria)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations