Soy Flour Market Size Worth .7 Billion By 2025 | CAGR: 3.5%
Posted by NickyArora on July 16th, 2020
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.
Further key findings from the report suggest:
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.Also See: Soy Flour, Market Size, Flour Market, Trends Analysis, Soy, Size, Market
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