The global soy flour market size
is expected to reach USD 3.7 billion by 2025, according to a new report by
Grand View Research, Inc., expanding at a CAGR of 3.5% over the forecast
period. Increasing demand for gluten-free and high nutritional value flour in
the food industry is propelling the demand for soy based flour. In addition,
growing vegan population is one of the key factors boosting the demand for the
product as it is the best meat substitute available in the market. These
factors are anticipated to ensure the significant growth of the market over the
forecast period.
Consumers are shifting their preferences
towards healthy and nutritious foods due to increasing health consciousness.
Soy based flour is rich in isoflavones, omega-3 fatty acids, protein, vitamins,
calcium, fiber, and iron. High nutritional value, along with gluten-free
property, makes the product perfect as a nutritious food and meat substitute.
In order to cater to this growing demand for meat substitute as well as baked
and functional goods, major manufacturers are adopting strategies including
mergers and acquisitions as well as new product launches.
For instance, in February 2018, Archer
Daniels Midland Company and Cargill entered in an agreement to launch a Joint
Venture (JV) ‘SoyVen’ to cater to the increasing consumer demand for the soy
products in Egypt. This agreement resulted in the joint ownership of soy
crushing facility, which has a crushing capacity of 6000 tons per day. These
initiatives are anticipated to ensure the significant demand for the market
over the forecast period.
Asia Pacific is the fastest growing market,
expanding at a CAGR of 4.0% from 2019 to 2025. Over the past few years, the
region has been witnessing increased investments, along with the new product
launch in developing countries such as India. For instance, in June 2018, Louis
Dreyfus Company (China) has inaugurated its new oilseeds processing facility at
Tianjin. The new facility has the capability of crushing 4,000 tons of soybean
and oil refining capacity of 1,200 tons.
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or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/soy-flour-market
https://www.grandviewresearch.com/industry-analysis/soy-flour-market
Further key findings from the report suggest:
· In terms of revenue, defatted product types
are projected to expand at a CAGR of 3.6% from 2019 to 2025
· By application, meat substitute is expected
to generate a revenue of more than USD 970.0 million by the end of 2025
· North America accounted for 32.5% share of
global revenue in 2018
· Key players include Archer Daniels Midland
Company; Cargill; Incorporated; CHS Inc.; DoW DuPont; Foodchem International
Corporation; SunOpta; Vippy Industries Ltd.; Devansoy Inc.; The Scoular
Company; and UNITECHEM CO., LTD.
Grand View Research has segmented the
global soy flour market on the basis of product, application, and region:
Soy Flour Product Outlook (Revenue, USD
Million, 2015 - 2025)
·
Full-fat
·
Defatted
Soy Flour Application Outlook (Revenue, USD
Million, 2015 - 2025)
·
Bakery & Confectionery
·
Meat Substitute
·
Others
Soy Flour Regional Outlook (Revenue, USD
Million, 2015 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
