Soy Flour Market Report 2023-2032: Market Size, Emerging Trends, Share And Industry Report | Archer Daniels Midland Company, Devansoy Inc., Sakthi Soyas Limited, Foodchem International Corporations, Bob's Red Mill Natural Foods

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Soy Flour Global Market Report 2023 identifies increasing demand for vegan food as the major driver for the Soy Flour market's growth in the forecast period. Vegan food refers to food that is made without any animal products or by products and it promotes the use of cruelty-free and sustainable alternatives. Soy flour is one of the versatile ingredients that are used in a wide range of vegan foods, and provides a high-quality, plant-based protein option. For instance, in March 2022, according to the data reported by Plant Based Foods Association (PBFA) and Good Food Institute (GFI), the plant-based food industry in the US experienced a 6% growth in 2021, which is three times faster than the overall growth rate of the food industry, bringing the total market size of the plant-based food industry to $7.4 billion. Furthermore, according to Grubhub Inc., US-based online and mobile prepared food ordering and delivery platform, in 2020, overall vegan food delivery orders increased by 17%. Therefore, the increasing demand for vegan food drives the soy flour market.

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%.

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Major competitors in the Soy Flour market are Archer Daniels Midland Company, Devansoy Inc., Sakthi Soyas Limited, Foodchem International Corporations, Bob's Red Mill Natural Foods.

A key trend in the Soy Flour market includes Product innovation. Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in February 2022, Benson Hills, a US-based agricultural biotechnology company launched its new soy protein ingredient portfolio called Truvail. High protein soy flour, a less processed version of soy protein concentrate (SPC), and texturized proteins are all part of the TruVailTM brand's offering. These products can be used widely in both conventional soy protein applications and the quickly expanding alternative plant-based protein markets. The portfolio is designed to offer unique sustainability benefits for a broad range of food applications. The Truvail portfolio is its low carbon footprint, which is achieved using regenerative agriculture practices and sustainable sourcing methods.

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The 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: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Soy Flour market.

The Business Research Company's "Global Soy Flour Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Soy Flour Market Include:

1. Executive Summary
2. Soy Flour Market Characteristics
3. Soy Flour Market Trends And Strategies
4. Soy Flour Market - Macro Economic Scenario
5. Soy Flour Market Size And Growth
……
26. Africa Soy Flour Market
27. Soy Flour Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Soy Flour Market
29. Soy Flour Market Future Outlook and Potential Analysis
30. Appendix

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