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Industrial Soy Flour Market by Type (Full-fat Soy Flour, Defatted Soy Flour) by Distribution Channel (Adhesive System, Industrial Fermentation, Others): Global Industry Size, Share, Statistics and Forecast 2015 - 2027

Industrial Soy Flour Market Analysis

Soy flour is the by-product of soybeans and is an optimal substitute for several industrial applications. The industrial soy flours market consists of smaller and significant players aiming to benefit from using soy flour. Full-fat Soy Flour and Defatted Soy Flour are two significant types of Industrial Soy Flour.

Key application areas of Industrial Soy Flour include Adhesive systems, Industrial Fermentation, and Others. The global market is based on applying soy flour for resin replacement in paneling, particleboard, and plywood. Industrial soy flour also plays a crucial role in replacing the proteins extracted from animal blood.

industrial-soy-flour-market

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The industrial soy flours market includes the usage of full-fat and defatted soy flour in factories. Their essential purposes are to cater to the adhesive system and industrial fermentation.

Global Industrial Soy Flour market is expected to witness CAGR of 4.83% during the forecast period. The revenue generated by the global Industrial Soy Flour market in 2020 was over USD 368.41 million and expected to generate revenue worth USD 562.15 million in 2027. The incremental growth opportunity offered by the global Industrial Soy Flour is estimated to be USD 3.47 billion between 2021 and 2027.   

Interesting Facts about Industrial Soy Flour Industry

  1. Industrial Soy Flours are useful in replacing adhesives containing volatile organic compounds.
  2. Industrial Soy Flours offers excellent water resistance.
  3. Industrial Soy Flours facilitate low-cost manufacturing of adhesives with a wide range of binding strengths.
  4. Industrial Soy Flours based adhesives exhibit less drying time, use less water, and produce less waste than conventional plywood glues.
  5. Cargill’s Prolia™ soy flour is one of the most widely known industrial soy flour products.

The consequence of COVID 19 Outbreak

Covid’19 caused aggregate demands to take a nosedive. As the consumer side shrunk, its demand, production, and supply chain deteriorated during the lockdowns. In addition, the uncertainty in financial markets and overall chaos in the international markets caused a stagnancy in the industrial soy flours sector. As a result, the market experienced negative and underwhelming growth.

However, with covid reopening and recovering consumer confidence, there is potential for the industrial soy flours industry to regain its speed. As lockdowns decrease and financial markets continue to find their bearings and stabilize, the industrial soy flours market is expected to show positive signs of growth in the upcoming times.

Growing Demand for Sustainable Products

The thriving interest in sustainability is a vital opportunity for the industrial soy flours sector. Ecological concerns continue to expand as the sense of social responsibility rises. With consumers shifting towards renewable substitutes, soy glue made from soy flour- can help the sector boom.

In addition, manufacturers are looking for cost-efficient procedures to improve their competitive edge and profitability. That is why the application of industrial soy flours for industrial fermentation is increasing every passing moment. The fermentation allows stakeholders to produce vital and valuable products, including citric acid and ethanol. As more producers start employing industrial fermentation, the worldwide industrial soy flours market can experience the push it needs for further development. 

Limited R&D, Lack of Investment, and Unexplored Application Areas

One of the biggest concerns for the industrial soy flours market is the lack of investment in research and development. Smaller players and less-developed economies still are not funded enough to carry out extensive research. That is restraining them from finding the potential of industrial soy flours in boosting their operations and improving their efficiencies.

Insufficient awareness of the application of industrial soy flours is a critical concern today. In addition, while the global soy flour market is quite extensive and well-versed, the niche of the industrial soy flours sector is still relatively new and limited in several countries. That is yet another challenge to overcome in the upcoming years.

Furthermore, resin replacement is still quite costly, and hence, smaller players are still unable to incorporate it into their production process. More studies to avail the benefits of soy flours for processing and factory use can undoubtedly expand the international market for industrial soy flours even more. A lot of players are now investing a considerable amount in the R&D of industrial soy flours in order to explore its potential applications. Cargill, ADM, CHS, Danisco, Soja Austria, Goldenseal, Harvest Innovations, Vippy Industries Ltd., Devansoy Inc., and Gushen Group are some of the prominent players in the global industrial soy flours industry.

Frequently asked questions about global Can Sealers industry

Likewise other industries, COVID 19 also taken a toll on Industrial Soy Flour market with around 10.86% decline in 2020 in its revenue as compare to 2019

Europe is the largest regional market with highest share in the total volume of Industrial Soy Flour consumed in 2020

Ever increasing demand for sustainable products with low or now VOC content

Defatted Soy Flour segment dominated the Industrial Soy Flour market in 2020 with over 60% share in 2020

Adhesives was the largest application of Industrial Soy Flour in 2020 with over 40% share

Industrial Soy Flour Report Scope

Report Attribute Details
Market Value in 2020 USD 368.41 million
Market Value in 2027 USD 562.15 million
CAGR 4.83% between 2021 and 2027
Benchmarking Year 2020
Past data 2016 – 2019
Forecast period 2021 – 2027
Report coverage Market Size Valuation, Share Analysis and Growth Rate by Segments such as Type and Application, Company Share, Competitive Landscape and Trends Analysis
Segments covered

Type

Full-fat Soy Flour

Defatted Soy Flour

Application

Adhesive System

Industrial Fermentation

Others

Regional scope North America (U.S., Canada and Mexico), Europe (Russia, Spain, Italy, Germany, France, UK, Poland, Belgium, Netherland, Sweden, Denmark, Austria, etc.), Asia Pacific (India, South Korea, China, Japan, Taiwan, Singapore, Vietnam, Thailand, Indonesia, Malaysia, Australia, etc.), Latin America (Peru, Chile, Colombia, Brazil, Argentina, etc.), Middle East (KSA, UAE, Israel, etc.) & Africa (Egypt, Nigeria, South Africa, East African Community, etc.)
Major Players Analysed Cargill, ADM, CHS, Danisco, Soja Austria, Goldensea, Harvest Innovations, Vippy Industries Ltd., Devansoy Inc. and Gushen Group
Cost of the Report Write us at [email protected]
Choose License Type
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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
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Published Date:  Dec 2021
Category:  Food & Beverage
Report ID:   60470
Report Format:   PDF
Pages:   139
Rating:    4.2 (164)
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