According to a new report, published by KBV research, The Global Soy Flour Market size is expected to reach $8.8 billion by 2031, rising at a market growth of 13.7% CAGR during the forecast period. In the year 2023, the market attained a volume of 365,398.6 tonnes, experiencing a growth of 11.6% (2020-2023).
The Full-fat segment is expected to witness a CAGR of 14.3% during (2024 - 2031). Full-fat soy flour remains significant due to its unique nutritional benefits and flavour profile. Full-fat soy flour is often used in products with natural fat that can enhance taste and texture, making it a valuable ingredient in specific culinary applications and health-oriented products. With the increasing awareness of healthy eating, consumers are actively looking for sources of healthy fats.
The Bakery & Confectionery segment is leading the Global Soy Flour Market by Application in 2023; thereby, achieving a market value of $2.8 million by 2031. This dominance is largely due to the widespread use of soy flour in baking products such as breads, cakes, and pastries. Soy flour enhances these baked goods' texture, protein content, and shelf life, making it a preferred ingredient for many bakery and confectionery manufacturers. Its ability to improve moisture retention and provide a tender crumb texture contributes significantly to its popularity in this segment.
The Convenience Stores market is experiencing a CAGR of 12.5% during (2024 - 2031). Convenience stores, known for their accessibility and extended hours, have become popular for consumers seeking quick and easy shopping experiences. The presence of soy flour in convenience stores caters to the immediate needs of consumers, especially those who prefer last-minute shopping or live in urban areas with limited access to larger retail outlets. The convenience store segment’s ability to provide easy access to soy flour has contributed to its significant revenue share in the market.
Full Report: https://www.kbvresearch.com/soy-flour-market/
The Asia Pacific region dominated the Global Soy Flour Market by Region in 2023; thereby, achieving a market value of $3.4 billion by 2031. The North America region is expected to witness a CAGR of 13% during (2024 - 2031). Additionally, The Europe region would obtain a CAGR of 13.4% during (2024 - 2031).
By Type (Volume, Tonnes, USD Billion, 2020-2031)
By Application (Volume, Tonnes, USD Billion, 2020-2031)
By Distribution Channel (Volume, Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Tonnes, USD Billion, 2020-2031)
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