Soy Grits Market Projection $2754.38 Million, 5.9% CAGR by 2032

Soy Grits Market Size Worth $2,754.38 Million By 2032 | CAGR: 5.9%


The global soy grits market size is expected to reach USD 2,754.38 million by 2032, according to a new study by Polaris Market Research. The report “Soy Grits Market Share, Size, Trends, Industry Analysis Report, By Type (Roasted, Non-roasted); By Grain Size; By Distribution Channel; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Grits are one of the byproducts of soy protein. The growing international awareness about soybean products is likely to influence the soy grits market in the coming years. An international conference on "soy foods: a sustainable protein for health and wellness" concluded in June 2023. It focused on ways to integrate soy products into the daily food intake of people, attributable to their rich nutritional content and higher protein content. Industrial professionals, government officials, and experts discussed the production and consumption of soy products, including soy grits, soy-based lentils and flour, and textured soy protein in India. The event recommended the addition of soy-based products to the public distribution system (PDS), as it enables all socioeconomic groups to access healthy food at a reasonable price. This government initiative will further fuel producers to cater to demand, leading to new growth potential for the market in the next few years.

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The increasing focus on acquisitions and partnerships among the key market players to gain a competitive advantage and innovate new products to meet ongoing consumer demand is likely to propel the expansion of the global market. For instance, ADM entered a partnership to augment ultra-high soy protein for the food ingredient market. This strategic partnership will further enhance the supply of soy protein in the region, including soy grits, contributing to stabilized prices in the marketplace.

Furthermore, these soy grits are used in feed formulations driven by a higher protein content. The increasing demand for non-vegetarian foods is forcing farmers to increase their feedstock to meet ongoing consumer needs, necessitating the need for efficient feed, which will likely stimulate the demand for soy grits in the coming years.

Soy Grits Market Report Highlights

  • The roasted segment is anticipated to witness the highest growth in the coming years due to its flavor and allergy-free nature.
  • The coarse soy grits segment held the largest share owing to its rising use in the food industry.
  • Online retailers’ segment garnered the largest share due to the increased availability and easy availability
  • North America is projected to register the largest growth rate in the study period owing to the rising demand for plant-based proteins.
  • Asia Pacific is expected to have the fastest growth owing to the presence of larger producers of soy grits.
  • The global players include Associated British Foods, Batory Foods, Batory Nutra, Emsland Group, International Flavors & Fragrances, and SunOpta.

Polaris Market Research has segmented the soy grits market report based on type, grain size, distribution channel and region:

Soy Grits, Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Roasted
  • Non-roasted

Soy Grits, Grain Size Outlook (Revenue - USD Billion, 2019 - 2032)

  • Coarse Soy Grits
  • Medium Size Soy Grits
  • Fine size Soy Grits

Soy Grits, Distribution Channel Outlook (Revenue - USD Billion, 2019 - 2032)

  • Speciality Stores
  • Retail Stores
  • Online Retail Stores

Soy Grits, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Soy Grits Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 1,734.68 million

Revenue forecast in 2032

USD 2,754.38 million

CAGR

5.9% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD million and CAGR from 2024 to 2032

Segments covered

By Type, By Grain Size, By End-User, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Customization

Report customization as per your requirements with respect to countries, region and segmentation.

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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