Soy Grits Market
Soy Grits Market Forecasts to 2030 - Global Analysis By Type (Roasted, Non-roasted and Other Types), Grain Size (Coarse Soy Grits, Fine size Soy Grits and Other Grain Sizes), Distribution Channel and By Geography
According to Stratistics MRC, the Global Soy Grits Market is accounted for $1.65 billion in 2023 and is expected to reach $2.81 billion by 2030 growing at a CAGR of 7.90% during the forecast period. Soy grits are a versatile and nutritious food product made from ground soybeans. They are a rich source of plant-based protein, making them an excellent option for vegetarians and vegans. Soy grits are produced by grinding whole soybeans into coarse particles, which can then be cooked in a variety of ways. They are often used as a meat substitute in dishes like burgers, meatloaf, and chili due to their texture and protein content.
According to the survey findings on U.S. soy, 70% of U.S. consumers prefer an intake of sufficient proteins, vitamins, minerals, and healthy fats as a top priority. According to Volza, the top three exporters of soy grits are India, followed by Chile and South Africa.
Market Dynamics:
Driver:
Functional properties
Functional properties are a significant driver of the soy grits market, as they offer various health benefits and versatility in applications. Soy grits are valued for their high protein content, which makes them an excellent meat alternative for vegetarians and vegans. Additionally, they provide essential nutrients such as fiber, vitamins, and minerals, contributing to overall health and wellness. Soy grits also possess functional attributes like emulsification, binding, and thickening properties, enhancing their utility in food formulations. As consumer demand for nutritious and functional foods continues to rise, soy grits remain a favored ingredient in the food industry.
Restraint:
Allergen concerns
Allergen concerns regarding soy grits primarily revolve around the potential presence of allergenic proteins, which can trigger adverse reactions in individuals with soy allergies. The soy grits market faces scrutiny due to the necessity of ensuring thorough cleaning and separation processes to prevent cross-contamination with other allergens, such as wheat or nuts, during production and packaging. Failure to effectively manage allergen risks can lead to health hazards and legal ramifications, impacting consumer trust and market viability. Stringent labeling regulations and allergen warnings are crucial to inform consumers and mitigate allergic reactions.
Opportunity:
Expanding vegan and vegetarian population
As the vegan and vegetarian population continues to grow globally, there is a significant opportunity for expansion in the soy grits market. Soy grits, being a versatile and nutritious plant-based protein source, align perfectly with the dietary preferences of these consumers. With increasing awareness about the health benefits and sustainability of plant-based diets, demand for soy-based products like soy grits is expected to surge. The growing interest in meat alternatives and the rise of flexitarian diets further contribute to the potential growth of the soy grits market. Additionally, companies that capitalize on this trend by offering high-quality, convenient soy grit products stand to benefit substantially in the evolving food industry landscape.
Threat:
Competitive pressure
As demand for soy-based products rises due to health-conscious consumer trends, more players enter the market, intensifying competition. Factors such as price wars, product differentiation, and aggressive marketing strategies become crucial to gaining an edge. Established brands may face challenges from smaller, niche players offering unique formulations or sustainable practices. Additionally, globalization opens avenues for international competition, further heightening the pressure. To thrive amidst this threat, companies must focus on innovation, quality, and strategic partnerships to maintain competitiveness and secure their position in the market.
Covid-19 Impact:
With disruptions in supply chains, logistical challenges, and fluctuating demand, the soy grits industry faced hurdles in production and distribution. Lockdown measures and restrictions on movement affected both the production and consumption sides, leading to reduced demand from the foodservice sector while increasing demand in retail channels. Additionally, economic uncertainties prompted consumers to prioritize essential items, potentially affecting discretionary purchases like soy grits. Despite challenges, the growing recognition of soy-based products for their nutritional value could provide opportunities for market recovery as the pandemic subsides, with an increased focus on health and wellness driving demand.
The non-roasted segment is expected to be the largest during the forecast period
The non-roasted segment in the soy grits market has seen significant growth due to increasing consumer awareness about the health benefits associated with non-roasted soy products. Non-roasted soy grits retain higher nutritional value compared to their roasted counterparts, making them attractive to health-conscious consumers. The rise in vegan and plant-based diets has further propelled the demand for non-roasted soy products, as they serve as a versatile protein source. Additionally, the food industry's focus on developing healthier and cleaner-label products has boosted the adoption of non-roasted soy grits in various food applications, such as snacks, cereals, and bakery products.
The speciality stores segment is expected to have the highest CAGR during the forecast period
The specialty stores segment has experienced notable growth due to the interest of consumers on seeking out specialized outlets that offer a wide range of niche products, including soy-based alternatives. These stores often provide a curated selection of high-quality soy grits, appealing to health-conscious consumers looking for plant-based protein sources. The rising demand for gluten-free and allergen-friendly options has spurred the growth of specialty stores catering to specific dietary needs.
Region with largest share:
The growth of the soy grits market in North America can be attributed to increasing consumer awareness regarding the health benefits of soy-based products. The versatility of soy grits in various food applications, including snacks, bakery products, and meat substitutes, has contributed to their popularity. Moreover, the growing trend towards plant-based diets and vegetarianism in the region has further fueled the demand for soy grits. Technological advancements in processing techniques have also improved the quality and availability of soy grits, driving market growth. Additionally, initiatives promoting sustainable agriculture and production practices have encouraged the adoption of soy-based products.
Region with highest CAGR:
The Asia-Pacific region has witnessed significant growth in the soy grits market due to rising awareness about the health benefits of soy-based products, including their high protein content and low cholesterol levels. Changing dietary preferences, particularly towards plant-based protein sources, have further fueled market expansion. Economic growth in countries like China and India has led to increased consumer spending power, driving consumption of soy grits and related products. Furthermore, technological advancements in food processing and distribution have made soy grits more accessible across the region.
Key players in the market
Some of the key players in Soy Grits market include Associated British Foods, Batory Foods, Bob's Red Mill Natural Foods, CerealVeneta S.r.l., CHS, Do It Organic, Emsland Group, International Flavors & Fragrances, Linyi Shansong Biological Products, NOW Health , Nutri-Pea, Puris Proteins, Sotexpro and SunOpta.
Key Developments:
In February 2024, The Emsland Group presents its plan to expand potato flake production in Emlichheim. The company is planning total investments in the mid-double-digit million range. In order to meet the increasing demand for year-round high-quality potato flakes while maintaining and expanding market position, the Emlichheim site will increase production capacity.
In December 2023, Batory Foods has created a new business unit, Batory Sweetener Solutions, to capitalize on its recent growth in the sweeteners sector. Batory Sweetener Solutions will be dedicated to food and beverage sweeteners, including conventional ingredients, low-sugar alternatives, precision blending and custom formulation.
Types Covered:
• Roasted
• Non-roasted
• Other Types
Grain Sizes Covered:
• Coarse Soy Grits
• Fine size Soy Grits
• Medium Size Soy Grits
• Other Grain Sizes
Distribution Channels Covered:
• Speciality Stores
• Online Retail Stores
• Retail Stores
• Other Distribution Channels
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Emerging Markets
3.7 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Soy Grits Market, By Type
5.1 Introduction
5.2 Roasted
5.3 Non-roasted
5.4 Other Types
6 Global Soy Grits Market, By Grain Size
6.1 Introduction
6.2 Coarse Soy Grits
6.3 Fine size Soy Grits
6.4 Medium Size Soy Grits
6.5 Other Grain Sizes
7 Global Soy Grits Market, By Distribution Channel
7.1 Introduction
7.2 Speciality Stores
7.3 Online Retail Stores
7.4 Retail Stores
7.5 Other Distribution Channels
8 Global Soy Grits Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Associated British Foods
10.2 Batory Foods
10.3 Bob's Red Mill Natural Foods
10.4 CerealVeneta S.r.l.
10.5 CHS
10.6 Do It Organic
10.7 Emsland Group
10.8 International Flavors & Fragrances
10.9 Linyi Shansong Biological Products
10.10 NOW Health
10.11 Nutri-Pea
10.12 Puris Proteins
10.13 Sotexpro
10.14 SunOpta
List of Tables
1 Global Soy Grits Market Outlook, By Region (2021-2030) ($MN)
2 Global Soy Grits Market Outlook, By Type (2021-2030) ($MN)
3 Global Soy Grits Market Outlook, By Roasted (2021-2030) ($MN)
4 Global Soy Grits Market Outlook, By Non-roasted (2021-2030) ($MN)
5 Global Soy Grits Market Outlook, By Other Types (2021-2030) ($MN)
6 Global Soy Grits Market Outlook, By Grain Size (2021-2030) ($MN)
7 Global Soy Grits Market Outlook, By Coarse Soy Grits (2021-2030) ($MN)
8 Global Soy Grits Market Outlook, By Fine size Soy Grits (2021-2030) ($MN)
9 Global Soy Grits Market Outlook, By Medium Size Soy Grits (2021-2030) ($MN)
10 Global Soy Grits Market Outlook, By Other Grain Sizes (2021-2030) ($MN)
11 Global Soy Grits Market Outlook, By Distribution Channel (2021-2030) ($MN)
12 Global Soy Grits Market Outlook, By Speciality Stores (2021-2030) ($MN)
13 Global Soy Grits Market Outlook, By Online Retail Stores (2021-2030) ($MN)
14 Global Soy Grits Market Outlook, By Retail Stores (2021-2030) ($MN)
15 Global Soy Grits Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
16 North America Soy Grits Market Outlook, By Country (2021-2030) ($MN)
17 North America Soy Grits Market Outlook, By Type (2021-2030) ($MN)
18 North America Soy Grits Market Outlook, By Roasted (2021-2030) ($MN)
19 North America Soy Grits Market Outlook, By Non-roasted (2021-2030) ($MN)
20 North America Soy Grits Market Outlook, By Other Types (2021-2030) ($MN)
21 North America Soy Grits Market Outlook, By Grain Size (2021-2030) ($MN)
22 North America Soy Grits Market Outlook, By Coarse Soy Grits (2021-2030) ($MN)
23 North America Soy Grits Market Outlook, By Fine size Soy Grits (2021-2030) ($MN)
24 North America Soy Grits Market Outlook, By Medium Size Soy Grits (2021-2030) ($MN)
25 North America Soy Grits Market Outlook, By Other Grain Sizes (2021-2030) ($MN)
26 North America Soy Grits Market Outlook, By Distribution Channel (2021-2030) ($MN)
27 North America Soy Grits Market Outlook, By Speciality Stores (2021-2030) ($MN)
28 North America Soy Grits Market Outlook, By Online Retail Stores (2021-2030) ($MN)
29 North America Soy Grits Market Outlook, By Retail Stores (2021-2030) ($MN)
30 North America Soy Grits Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
31 Europe Soy Grits Market Outlook, By Country (2021-2030) ($MN)
32 Europe Soy Grits Market Outlook, By Type (2021-2030) ($MN)
33 Europe Soy Grits Market Outlook, By Roasted (2021-2030) ($MN)
34 Europe Soy Grits Market Outlook, By Non-roasted (2021-2030) ($MN)
35 Europe Soy Grits Market Outlook, By Other Types (2021-2030) ($MN)
36 Europe Soy Grits Market Outlook, By Grain Size (2021-2030) ($MN)
37 Europe Soy Grits Market Outlook, By Coarse Soy Grits (2021-2030) ($MN)
38 Europe Soy Grits Market Outlook, By Fine size Soy Grits (2021-2030) ($MN)
39 Europe Soy Grits Market Outlook, By Medium Size Soy Grits (2021-2030) ($MN)
40 Europe Soy Grits Market Outlook, By Other Grain Sizes (2021-2030) ($MN)
41 Europe Soy Grits Market Outlook, By Distribution Channel (2021-2030) ($MN)
42 Europe Soy Grits Market Outlook, By Speciality Stores (2021-2030) ($MN)
43 Europe Soy Grits Market Outlook, By Online Retail Stores (2021-2030) ($MN)
44 Europe Soy Grits Market Outlook, By Retail Stores (2021-2030) ($MN)
45 Europe Soy Grits Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
46 Asia Pacific Soy Grits Market Outlook, By Country (2021-2030) ($MN)
47 Asia Pacific Soy Grits Market Outlook, By Type (2021-2030) ($MN)
48 Asia Pacific Soy Grits Market Outlook, By Roasted (2021-2030) ($MN)
49 Asia Pacific Soy Grits Market Outlook, By Non-roasted (2021-2030) ($MN)
50 Asia Pacific Soy Grits Market Outlook, By Other Types (2021-2030) ($MN)
51 Asia Pacific Soy Grits Market Outlook, By Grain Size (2021-2030) ($MN)
52 Asia Pacific Soy Grits Market Outlook, By Coarse Soy Grits (2021-2030) ($MN)
53 Asia Pacific Soy Grits Market Outlook, By Fine size Soy Grits (2021-2030) ($MN)
54 Asia Pacific Soy Grits Market Outlook, By Medium Size Soy Grits (2021-2030) ($MN)
55 Asia Pacific Soy Grits Market Outlook, By Other Grain Sizes (2021-2030) ($MN)
56 Asia Pacific Soy Grits Market Outlook, By Distribution Channel (2021-2030) ($MN)
57 Asia Pacific Soy Grits Market Outlook, By Speciality Stores (2021-2030) ($MN)
58 Asia Pacific Soy Grits Market Outlook, By Online Retail Stores (2021-2030) ($MN)
59 Asia Pacific Soy Grits Market Outlook, By Retail Stores (2021-2030) ($MN)
60 Asia Pacific Soy Grits Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
61 South America Soy Grits Market Outlook, By Country (2021-2030) ($MN)
62 South America Soy Grits Market Outlook, By Type (2021-2030) ($MN)
63 South America Soy Grits Market Outlook, By Roasted (2021-2030) ($MN)
64 South America Soy Grits Market Outlook, By Non-roasted (2021-2030) ($MN)
65 South America Soy Grits Market Outlook, By Other Types (2021-2030) ($MN)
66 South America Soy Grits Market Outlook, By Grain Size (2021-2030) ($MN)
67 South America Soy Grits Market Outlook, By Coarse Soy Grits (2021-2030) ($MN)
68 South America Soy Grits Market Outlook, By Fine size Soy Grits (2021-2030) ($MN)
69 South America Soy Grits Market Outlook, By Medium Size Soy Grits (2021-2030) ($MN)
70 South America Soy Grits Market Outlook, By Other Grain Sizes (2021-2030) ($MN)
71 South America Soy Grits Market Outlook, By Distribution Channel (2021-2030) ($MN)
72 South America Soy Grits Market Outlook, By Speciality Stores (2021-2030) ($MN)
73 South America Soy Grits Market Outlook, By Online Retail Stores (2021-2030) ($MN)
74 South America Soy Grits Market Outlook, By Retail Stores (2021-2030) ($MN)
75 South America Soy Grits Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
76 Middle East & Africa Soy Grits Market Outlook, By Country (2021-2030) ($MN)
77 Middle East & Africa Soy Grits Market Outlook, By Type (2021-2030) ($MN)
78 Middle East & Africa Soy Grits Market Outlook, By Roasted (2021-2030) ($MN)
79 Middle East & Africa Soy Grits Market Outlook, By Non-roasted (2021-2030) ($MN)
80 Middle East & Africa Soy Grits Market Outlook, By Other Types (2021-2030) ($MN)
81 Middle East & Africa Soy Grits Market Outlook, By Grain Size (2021-2030) ($MN)
82 Middle East & Africa Soy Grits Market Outlook, By Coarse Soy Grits (2021-2030) ($MN)
83 Middle East & Africa Soy Grits Market Outlook, By Fine size Soy Grits (2021-2030) ($MN)
84 Middle East & Africa Soy Grits Market Outlook, By Medium Size Soy Grits (2021-2030) ($MN)
85 Middle East & Africa Soy Grits Market Outlook, By Other Grain Sizes (2021-2030) ($MN)
86 Middle East & Africa Soy Grits Market Outlook, By Distribution Channel (2021-2030) ($MN)
87 Middle East & Africa Soy Grits Market Outlook, By Speciality Stores (2021-2030) ($MN)
88 Middle East & Africa Soy Grits Market Outlook, By Online Retail Stores (2021-2030) ($MN)
89 Middle East & Africa Soy Grits Market Outlook, By Retail Stores (2021-2030) ($MN)
90 Middle East & Africa Soy Grits Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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