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.
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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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