DUBLIN, Feb. 1, 2024 /PRNewswire/ — The “Soy Flour Global Market Report 2024” has been added to ResearchAndMarkets.com’s offering.
The comprehensive soy flour market report showcases a forecasted growth from $2.99 billion in 2023 to an estimated $3.97 billion by 2028, indicating a robust compound annual growth rate (CAGR) of 5.7%. This significant market expansion is fueled by the burgeoning vegan market and innovation within the sector, as detailed in the newly available research publication.
Rising health consciousness and chronic disease prevention are primary drivers in the soy flour industry’s growth, with an increased demand for nutritious, plant-based proteins. The adaptability and nutritional profile of soy flour make it an ideal component for health-promoting diets, influencing the choice of health-savvy consumers globally. The surge in health awareness is expected to underpin the soy flour market’s development through to 2028.
The Soy Flour Market’s Connection to Veganism and Health Trends
- The escalation in vegan food demand heavily influences the soy flour market, with consumers looking for sustainable and cruelty-free alternatives.
- Soy flour, as a premium plant-based protein, is central to the growth of the industry, not just for its health benefits but also due to the ethical considerations of consumers.
Product Innovation and Strategic Partnerships Shaping the Market
Innovation within the soy flour sector is a marked trend, with new product launches enhancing the competitive landscape. Furthermore, strategic partnerships and acquisitions like the notable collaboration between major industry players underscore the importance of such tactics in the growing market. These moves demonstrate a commitment to addressing the increasing demand for plant-based proteins and enhancing market offerings.
North America Maintains Leading Position with Asia Pacific on the Rise
North America continues to dominate the soy flour market, with the Asia Pacific region identified as the fastest-growing market during the forecast period. This geographic expansion emphasizes the global reach and potential of the soy flour industry.
The soy flour market caters to a wide range of applications, from bakery and confectionery to meat substitutes and poultry products, showcasing the versatility of soy flour across diverse culinary uses. The extensive distribution channels, including online stores, departmental stores, and direct sales, contribute to the accessibility and widespread availability of soy flour.
The soy flour market research report offers an in-depth view of the current and future market scenarios, providing essential statistics, market size, regional shares, and detailed segmentation. The report’s valuable insights will help stakeholders make informed business decisions in the evolving landscape of the soy flour industry.
The report reveals that the soy flour industry’s robust dynamic stems from its foundational role in the food sector, particularly within the plant-based and health-oriented markets. As the market continues to evolve, the demand for sustainable and nutritious food options is expected to soar, marking soy flour as a key ingredient for future global food trends.
Key Markets Covered:
- By Type: Defatted Fat; Full Fat
- By Distribution Channel: Online Stores; Convenience Store; Departmental Store; Direct Sales; Others distribution channel
- By Application: Bakery And Confectionery; Meat Substitute; Meat And Poultry; Soups And Sausages; Other Applications
Companies Profiled:
- Archer Daniels Midland Company
- Devansoy Inc.
- Sakthi Soyas Limited
- Foodchem International Corporations
- Bob’s Red Mill Natural Foods
- CHS Inc.
- Sonic Biochem Extraction Pvt. Ltd.
- DuPont de Nemours Inc.
- Kerry Group
- Living Foods India Private Limited
- Ruitenberg Ingredients BV.
- BIC Ingredients B.V.
- Makendi Worldwide
- GCHI International Mercantile Inc.
- Sun Nutrafoods
- Cargill Incorporated
- Bunge Limited
- The Scoular Company
- Fuji Oil Co. Ltd.
- SunOpta Inc.
- SOJAPROTEIN
- Ingredion Incorporated
- The Hain Celestial Group Inc.
- Burcon NutraScience Corporation
- worldfoodindia.gov.in
- Specialty Commodities Inc.
- Ag Processing Inc.
- Euroduna Food Ingredients GmbH
- The Nisshin OilliO Group Ltd.
- Natural Products Inc.
For more information about this report visit https://www.researchandmarkets.com/r/5fsiag
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SOURCE Research and Markets
