Soy Flour Market Growth Trajectory – Insights On Key Drivers, Major Trends, And Top Opportunities
19 Jul, 2023
The global soy flour market size is expected to grow from $2.80 billion in 2022 to $2.99 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global soy flour market size is expected to reach $3.74 billion in 2027 at a CAGR of 5.8%.
Global Soy Flour Market Key Driver
The rising demand for vegan foods is likely to drive the expansion of the soy flour market in the coming years. Vegan food is food that is created without the use of any animal products or byproducts and advocates the use of cruelty-free and sustainable alternatives. Soy flour is a versatile ingredient found in a wide variety of vegan meals, and it provides a high-quality, plant-based protein source.
Get a sample of the global soy flour market reportGlobal Soy Flour Market Segments
The global soy flour market is segmented:
1) By Type: Defatted Fat, Full Fat
2) By Distribution Channel: Online Stores, Convenience Store, Departmental Store, Direct Sales, Others distribution channel
3) By Application: Bakery And Confectionery, Meat Substitute, Meat And Poultry, Soups And Sausages, Other Applications
4) By Geography: The regions covered in the soy flour market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global soy flour market.
Major Soy Flour Industry Players
Archer Daniels Midland Company, Devansoy Inc., Sakthi Soyas Limited, Foodchem International Corporations, Bob’s Red Mill Natural Foods, CHS Inc., Sonic Biochem, DuPont, Kerry Group, Living Foods, Ruitenberg Ingredients BV., BIC Ingredients, Makendi Worldwide, GCHI International Mercantile Inc., Sun Nutrafoods, Cargill Incorporated
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Soy Flour Market Overview
Soy flour refers to a flour that is made from ground-roasted soybeans which contains high protein content as excellent source of plant-based protein. It is commonly used as a gluten-free substitute for wheat flour in baked goods, such as bread, cakes, and cookies.
Soy Flour Global Market Report 2023 provides data on the global soy flour market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The soy flour market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.