Soy
flour is obtained by grinding soybeans. It is rich source of proteins
and is widely used in food industry for preparing bakery products,
confectionaries, baby foods, cereals and pet food as an additive. Soy
flour helps in improving taste as well as texture of the food. Soy
flour is available in supermarkets/ hypermarkets, health food stores,
food cooperatives etc. in bulk and in packaged form. Soy flour is a
source of protein, dietary fiber, isoflavones, iron, vitamins and
potassium which makes it one of the healthy food. Soy flour is
gluten-free product which is preferred by health conscious consumers
as well as by fitness trainers as breakfast cereals. Thus market
demand from food and beverages industry is higher for soy flour.
Market
Segmentation: Soy flour
The
soy
flour market
is segmented on the basis of its application in food industry as
bakery products, dried milk, as food additives, and pet food etc. Soy
flour is used in food products such as meat products, breakfast
cereals, ready-to-eat products, instant mixes, baby foods, soups,
diet food etc. In bakery products segment, soy flour is used in
preparation of gluten-free breads which is gaining interest in health
conscious consumers and hence driving market demand for soya flour.
Soy flour is also used as a food additive in soups, instant mixes and
dairy products in order to enhance nutrition of the product.
Increasing demand for protein based and healthy pet food products
from pet food market segment is also expected to grow over the
forecast period.
Depending
on geographic regions global soy flour market is segmented into five
key regions: North America, Latin America, Europe, Middle East and
Africa and Asia Pacific. North America dominates the global soy flour
market in terms of consumption, while Asia Pacific is expected to
show maximum growth over the forecast period. The U.S. in North
America region and Brazil in Latin America contributes the maximum
share of soy flour in terms of production volume. Amongst Asia
Pacific regional markets, China and India has shown higher growth
rate in terms of production and is expected to grow at a significant
growth rate over the forecast. Countries like Uruguay, Bolivia and
Ukraine are gaining interest in production of soy flour contributing
to the growth of global market.
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Global
Soy flour Market: Drivers and Trends
Soy
flour is used in many food products to enhance nutritional value of
the product as it is high source of vegan protein, and healthy oils,
which is major factor driving market demand from food manufacturers.
As a result of increasing urbanization and growing population of
working professionals demand for ready-to-eat products is increasing
which is one of the key driver for increasing demand for soy flour in
global market. Gluten-free trend is trending in global food industry
and soy flour is a gluten-free product and have many other health
benefits such as it reduces risk of heart disease, reduce menopausal
symptoms, lowers blood cholesterol etc. these factors are fueling
market demand for soy flour. Soy flour provides bases for soymilk and
textured vegetable which is trending worldwide in turn increasing
market demand for soy flour.
Global
Soy flour: Key Players
Some
of the key players identified across the value chain of the global
Soy flour market include Archer Daniels Midland Company, Cargill
Incorporated, Vippy Industries Ltd., CHS Inc., Devansoy Inc., Sakthi
Soyas Limited, Foodchem International Corporation, Unitechem Co.,
Ltd., Gushen Group, Harvest Innovations, Kerry Group, Linyi Shanshong
Biological products Co. Ltd., Ruchi Soya Industries Ltd., Scoular
Food Ingredients Group, Sinoglory Enterprise Group Co. Ltd., Victoria
Group, Solae LLC, Sonic Biochem, World Food Processing, The Nisshin
OilliO Group, Ltd., Bob's Red Mill Natural Foods etc.
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