Soya Flour Market To Reach USD 4.5 Bn by 2033 | CAGR 7.4%

Introduction

The global Soya Flour Market is experiencing significant growth and is expected to continue expanding over the next decade. As of 2023, the market size is valued at approximately USD 2.2 billion, and it is projected to reach around USD 4.5 billion by 2033, growing at a healthy compound annual growth rate (CAGR) of 7.4% during the forecast period from 2024 to 2033.

The increasing demand for plant-based protein alternatives, driven by health-conscious consumers and the rising popularity of vegan and vegetarian diets, is a major factor fueling this growth. Soya flour, known for its high protein content, is gaining popularity in food production, especially in bakery products, dairy alternatives, and meat substitutes.

Furthermore, the growing awareness of the health benefits of soya flour, such as its potential to reduce cholesterol levels and support heart health, is encouraging its use in various food applications. The expansion of the plant-based food industry, combined with consumer interest in gluten-free and allergen-free products, is opening up new opportunities for soya flour manufacturers.

Additionally, the increasing use of soya flour in animal feed production is driving market demand. With major players focusing on innovations and sustainable production practices, the market is likely to see further growth and diversification.

The expansion of the market is also supported by the rise of e-commerce platforms, making soya flour products more accessible to global consumers. As the market continues to mature, opportunities for new product developments and applications will further boost its popularity and market share in the coming years.

Key Takeaways

• The Global Soya Flour Market size is expected to be worth around USD 4.5 Billion by 2033, from USD 2.2 Billion in 2023, growing at a CAGR of 7.4% during the forecast period from 2024 to 2033.
• Defatted soya flour dominated the market with a 67.4% share, reflecting health trends.
• The Bakery & Confectionery segment dominated the Soya Flour Market with a 38.6% share.
• Convenience Stores dominated the Soya Flour Market with a 39.5% share.
• The Asia Pacific region leads the soya flour market with a 37.5% share, valued at $0.87 billion.

Soya Flour Statistics

Soya Flour Baking Substitution & Benefits

• It is best to substitute no more than 25-30% of the total volume of wheat flour with soya flour to ensure the best result when baking.
• Soy Flour is a rich source of Omega-3 fatty acids which helps to reduce the risk of coronary heart disease.
• Defatted soy flour, produced by grinding defatted soy flakes, has a protein content of about 50%.
• Specifically, the concentrate is produced by aqueous alcohol extraction resulting in a product with about 70% protein content.
• The isolate is produced by alkaline extraction followed by precipitation in acidic pH resulting in a protein content of 90%.

Soya Flour Protein Content & Processing

• Soy grits or flour contain approximately 45–50% protein along with carbohydrate that imparts a distinctive beany flavor to products.
• This material contains 90–95% protein and exhibits almost no beany flavor.
• Dry soy flour is commonly rehydrated with 2.5–3.5 parts water for one part soy flour.
• In the USA soy flour, SPC, and ISP are limited to 3.5%, 3.5%, and 2.0%, respectively, in cooked sausage products.
• The cooked beans are then strained and spread on trays in a current of mild circulation of air till the moisture content comes down to 10%.

Soya Flour in Snacks & Production Process

• The dried soya beans are then cracked in a mill and hulls are separated. The de-hulled beans are ground to the desired mesh size and packed. The process loss is approximately 5%.
• The basic raw material for the unit is good quality Soya beans. The annual requirement at 100% capacity will be 300 tonnes.
• Wheat flour and defatted soya flour blended in the ratio of 65:20, 60:25, 55:30, and 45:40 were studied concerning dough characteristics and the quality of fried savory and sweet snacks prepared from them.
• In fried savoury snacks the protein content increased gradually from 20.75 to 27.50%.
• When the proportion of soya flour was raised from 20 to 40% in the blend, the corresponding rise in protein content in fried sweet snacks was from 15.75 to 21.75%.

Emerging Trends

• Shift Toward Plant-Based Diets: As more consumers embrace plant-based diets, soya flour is gaining popularity as a key ingredient in meat alternatives, dairy substitutes, and plant-based snacks. Its high protein content and versatility make it ideal for producing sustainable, plant-based products.
• Increase in Gluten-Free Product Development: Soya flour’s ability to mimic wheat flour’s texture while providing a gluten-free option is driving its use in gluten-free baking. With rising awareness of gluten intolerance, soya flour is increasingly used in bread, cakes, and other gluten-free baked goods.
• Health-Conscious Consumption: Consumers are focusing on functional foods, seeking ingredients like soya flour that offer health benefits. Its rich protein, fiber, and omega-3 content make it popular in foods aimed at improving heart health, lowering cholesterol, and supporting overall well-being.
• Sustainability in Soya Flour Production: As sustainability becomes a priority, producers are focusing on eco-friendly sourcing and production of soya flour. This includes efforts to reduce water usage, minimize waste, and support sustainable farming practices to meet the growing consumer demand for environmentally responsible products.
• Wider Use in Processed Foods: Soya flour is increasingly used in processed and ready-to-eat meals due to its nutritional profile and cost-effectiveness. It adds protein and fiber to snacks, soups, and prepared meals, catering to busy consumers looking for healthier, convenient options.

Use Cases

• Baking and Bread Making: Soya flour is widely used in baking to enhance the protein content of bread, cakes, and pastries. It can replace a portion of wheat flour, providing a gluten-free option and improving the texture of baked goods, making them softer and more moist.
• Meat Alternatives: Soya flour is an essential ingredient in the production of plant-based meat products like soy-based burgers, sausages, and nuggets. Its high protein content helps replicate the texture and nutritional profile of meat, offering a satisfying alternative for vegetarians and vegans.
• Dairy Substitutes: In dairy-free products such as soy milk, yogurts, and cheese alternatives, soya flour is used to provide a creamy texture and enhance the product’s protein content. It is a preferred ingredient for creating plant-based versions of traditional dairy items.
• Snack Foods: Soya flour is increasingly used in the snack food industry to boost the nutritional profile of items like chips, crackers, and protein bars. It offers a high protein and fiber content, making snacks healthier while maintaining a desirable crunch and flavor.
• Gluten-Free Products: Due to its gluten-free nature, soya flour is commonly used in gluten-free baking, such as cookies, cakes, and pancakes. It offers an excellent alternative to wheat flour for individuals with celiac disease or those avoiding gluten while improving the texture and moisture of baked goods.

Major Challenges

• Allergen Concerns: Soya flour can trigger allergic reactions in sensitive individuals, limiting its use in certain markets. This presents a challenge for manufacturers who must ensure their products are clearly labeled and avoid cross-contamination, especially in regions with high rates of soy allergies.
• High Processing Costs: Producing high-quality soya flour requires advanced processing techniques, which can increase costs. The need for specialized equipment and the use of energy-intensive processes can make soya flour more expensive compared to other flour, affecting pricing and profit margins.
• Flavor and Texture Issues: Soya flour has a distinctive flavor that may not be desirable in certain food products. Manufacturers often need to modify their flavor profile through processing or blending with other ingredients, which can complicate product development and affect consistency.
• Supply Chain Volatility: The soya flour industry faces fluctuations in the supply of soybeans due to factors like climate change, crop diseases, and trade disputes. These disruptions can lead to price volatility, impacting the overall cost and availability of soya flour for manufacturers.
• Limited Consumer Awareness: Despite its nutritional benefits, many consumers are still unaware of the advantages of soya flour. This lack of awareness can hinder market growth, especially in regions where alternative flour options like wheat or rice flour are more familiar and widely accepted.

Market Growth Opportunities

• Expansion in Plant-Based Products: The growing demand for plant-based foods, such as meat substitutes, dairy alternatives, and vegan snacks, presents a major opportunity for soya flour. Its high protein and versatility make it an ideal ingredient for companies looking to capitalize on the plant-based food trend.
• Increasing Health Consciousness: As consumers become more health-conscious, there is a rising demand for functional and nutritious foods. Soya flour, rich in protein, fiber, and Omega-3 fatty acids, provides an opportunity to create healthy, fortified products targeting consumers seeking better nutrition and wellness.
• Gluten-Free Market Growth: The gluten-free food market continues to expand as more people are diagnosed with gluten sensitivity or choose gluten-free diets. Soya flour’s gluten-free nature offers a significant opportunity for manufacturers to cater to this growing consumer base, especially in baked goods and snack products.
• Rising Demand for Sustainable Ingredients: With sustainability becoming a priority, soya flour offers an eco-friendly alternative to animal-based ingredients. Its plant-based origin aligns with growing consumer preferences for sustainable products, providing manufacturers an opportunity to promote soya flour as a more environmentally responsible ingredient.
• Innovative Food Applications: Soya flour’s versatility opens up opportunities for innovation in various food categories, from ready-to-eat meals to protein bars and breakfast cereals. Its ability to enhance texture, flavor, and nutritional value makes it a prime candidate for creating new and differentiated food products.

Key Players Analysis

Archer Daniels Midland Company (ADM)

• 2023-2024: ADM continues to dominate the global soya flour sector, focusing on sustainable sourcing and high-quality ingredients. The company supplies various soy-based products, including soy flour, to industries like food manufacturing and animal feed. ADM has expanded its global footprint, with facilities in 170 countries.

Bob’s Red Mill Natural Foods, Inc.

• 2023-2024: Bob’s Red Mill remains a prominent player in the natural and organic food market, offering premium soya flour for health-conscious consumers. Their products emphasize non-GMO, whole-grain, and gluten-free options. The company focuses on expanding its market share through retail and e-commerce platforms, with a growing demand for plant-based alternatives.

Cargill, Incorporated

• 2023-2024: Cargill has made significant strides in the soya flour market by emphasizing sustainability, innovation, and global reach. The company supplies high-quality soy flour for food, beverages, and animal feed. Cargill has expanded production capabilities in North America and Latin America, with revenue growth in soy-based products exceeding 10%.

Ceylon Spice Company

• 2023-2024: Ceylon Spice Company has built a niche by offering premium soya flour sourced from Sri Lanka. Their growth in the market stems from their focus on exporting to international markets, with a particular focus on European and Middle Eastern regions. The company saw an increase in export volumes by 15% in 2023.

CHS Inc.

• 2023-2024: CHS Inc. continues strengthening its position in the global soya flour market by leveraging its extensive agricultural supply chain. The company’s strategy involves improving operational efficiency and expanding its plant-based ingredient offerings, including soy flour, with a 5% growth in its food ingredients segment in 2023.

Devansoy Inc.

• 2023-2024: Devansoy Inc. has expanded its market by focusing on high-quality soy ingredients, including soy flour, for plant-based foods. Their growth is driven by the rising demand for vegetarian and vegan products. The company saw a 12% increase in sales of soy-based products in 2023.

DuPont

• 2023-2024: DuPont’s focus on innovation in plant-based nutrition has strengthened its presence in the soya flour market. By utilizing advanced food science and technology, DuPont offers soy flour that meets the growing demand for plant-based and protein-rich ingredients, experiencing a 7% growth in plant-based product lines in 2023.

Elite Spice Inc.

• 2023-2024: Elite Spice Inc. has continued to grow by offering premium soy flour and spice blends for food manufacturers. The company focuses on delivering high-quality ingredients that meet the needs of both traditional and plant-based food sectors. It recorded a 10% revenue increase in soy-based products in 2023.

Foodchem International Corporation

• 2023-2024: Foodchem International has maintained a strong presence in the global soy flour market by supplying high-quality ingredients to food processors. The company’s growth strategy includes expanding its operations in the Asian market, resulting in a 15% increase in soy flour sales in 2023.

Harvest Innovations

• 2023-2024: Harvest Innovations has focused on providing high-protein soy flour to the food and beverage sector. By increasing its product range and enhancing distribution channels in North America and Europe, the company experienced a 9% increase in soy flour sales during 2023.

HDDES Group

• 2023-2024: HDDES Group, known for its expertise in spice production, has expanded into the soy flour market to cater to plant-based food trends. The company recorded a 10% growth in the soy flour segment in 2023, driven by rising demand in health-conscious food markets.

Linyi Shanshong Biological Products Co. Ltd.

• 2023-2024: Linyi Shanshong has gained traction in the global soy flour market by supplying affordable soy products to large-scale food processors. In 2023, the company saw a 14% increase in soy flour production due to growing demand in Asia and Europe.

McCormick & Company, Inc.

• 2023-2024: McCormick continues to expand its plant-based product range, including soy flour, focusing on clean-label and sustainable products. With a 6% growth in its plant-based ingredients segment, McCormick is capitalizing on the increasing demand for plant-based options in the U.S. and Europe.

Ruchi Soya Industries Ltd.

• 2023-2024: Ruchi Soya has seen consistent growth in the soy flour market, leveraging its vast distribution network across India and international markets. The company recorded a 10% year-on-year increase in soy flour production in 2023, driven by the rising demand for healthy, plant-based foods in emerging markets.

Sakthi Soyas Limited

• 2023-2024: Sakthi Soyas Limited, a key supplier in India’s soy flour market, has focused on enhancing production capacity and product diversification. The company experienced a 13% growth in soy flour production in 2023, driven by the increasing demand for plant-based food products in the domestic market.

Scoular Food Ingredients Group

• 2023-2024: Scoular Food Ingredients Group continues to strengthen its position by offering high-quality soy flour to food manufacturers globally. The company has increased production capacity by 8%, expanding its reach in North America and Europe in 2023, with a significant increase in plant-based food applications.

SDS Spices Pvt Ltd.

• 2023-2024: SDS Spices Pvt Ltd. has expanded its product portfolio to include soy flour alongside its core spice business. The company saw a 9% increase in sales in 2023, fueled by the growing trend of plant-based foods in India and Southeast Asia.

Sinoglory Enterprise Group Co. Ltd.

• 2023-2024: Sinoglory has strengthened its position in the soy flour market by expanding production facilities and focusing on the growing demand for healthy food ingredients in Asia. In 2023, Sinoglory’s soy flour segment grew by 12%, driven by increased domestic and international demand.

Sonic Biochem

• 2023-2024: Sonic Biochem has been expanding its soy-based product offerings, including soy flour, to cater to the rising demand in health-conscious and vegan food markets. The company experienced a 15% growth in soy flour sales in 2023, with a strong presence in both Indian and export markets.

SunOpta Inc.

• 2023-2024: SunOpta has focused on expanding its plant-based ingredient portfolio, including soy flour, to meet consumer demand for sustainable and clean-label products. In 2023, SunOpta experienced an 11% growth in its soy flour segment, mainly due to increased demand for vegan and gluten-free products.

The Scoular Company

• 2023-2024: The Scoular Company has continued to expand its presence in the global soy flour market by focusing on quality and reliability in its soy-based products. With a 9% growth in soy flour production in 2023, Scoular has strengthened its partnerships with large food manufacturers.

Vippy Industries Ltd.

• 2023-2024: Vippy Industries Ltd. has focused on enhancing production capacity and entering new international markets. The company recorded an 8% growth in soy flour production in 2023, driven by demand from the food processing and animal feed industries, particularly in Southeast Asia.

Conclusion

The demand for Soya Flour is projected to witness substantial growth, driven by increasing consumer awareness of health and nutrition. As a versatile ingredient, soya flour is gaining traction in various food applications, including bakery products, snacks, and dairy alternatives, which underscores its expanding market presence. Additionally, the rise in plant-based dietary preferences is further fueling this demand, positioning soya flour as a key component in the global shift towards sustainable and health-conscious eating habits. Moving forward, the market is expected to continue expanding, supported by ongoing innovations in food technology and a strong consumer shift towards protein-rich, gluten-free options. This growth signifies a promising opportunity for stakeholders in the soya flour industry to capitalize on evolving trends and consumer preferences.

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