Soybean Market Size and Share Analysis - Growth Trends and Forecast Report 2025-2033

Soybean Market Trends & Summary

The global market for soybean was worth US$ 169.65 billion in 2024 and expected to grow up to US$ 255.39 billion at a CAGR of 4.65% during the period from 2025 to 2033. The growth can be attributed to increasing demand for soy products within food, animal feed, and industrial uses, as well as the growing incorporation of soybean as a substitute protein source into the global agrifood market.

Global Soybean Market Outlooks

Soybean is a versatile legume originating in East Asia, extensively cultivated for its high protein and oil content. It is among the world's most vital crops because of its wide use in food, feed, and industrial purposes. Soybeans are small, round seeds with multiple colors, yellow, green, and black, with yellow soybeans being most prevalent in commercial agriculture.

Soybeans are highly utilized in food processing to create soy milk, tofu, soy sauce, and tempeh as a central protein source among vegetarians and vegans. Soybean oil is utilized in cooking and in the production of margarine and processed foods. In animal rearing, soybean meal forms a major constituent in animal feeds to provide complete nutrition. Aside from food, soybeans are utilized in industrial processes, including biofuels, plastics, and adhesives. Soybeans' environmentally friendly characteristics and nutritional values make them an important crop for agricultural and business sectors globally.

Drivers of the Global Soybean Market

Growing Demand for Plant-Based Protein

The global trend toward healthier living and plant-based diets has immensely boosted demand for soy-based protein products. Soybeans are a key source of protein among vegetarians and vegans, used in soy milk, tofu, and meat substitutes. The increasing demand for sustainable and highly nutritional protein sources, especially in North America and Europe, fuels the expansion of the soybean market. Nov 2024 – DAIZ Engineering and ICL Food Specialties have introduced ROVITARIS® SprouTx™, a new soy protein that enhances taste and texture in plant-based seafood and meat. Leveraging patented germination technology, the product is designed to address sensory demands in the market, providing higher nutritional benefits than current plant-based alternatives.

Growing Livestock Industry

With its high protein level, soybean meal is a major component of animal feed. The growing global animal agriculture, particularly poultry and aquaculture, increases the consumption of soybeans. Developing nations in Asia-Pacific and South America rely significantly on soybeans to supply the proteins needed by their expanding animal population, driving the market growth. July 2024 – Benson Hill, Inc. reported advancements in its pipeline of innovations intended to improve soy characteristics for more significant markets such as animal feed, soybean oil, and biofuels. With numerous innovations now in field testing, the company is well-poised to revolutionize U.S. soy for feed and fuel using new varieties with distinctive advantages throughout the agribusiness value chain.

Greater Utilization of Soybeans in Industrial Uses

Soybeans are being used more and more in biofuels, bioplastics, and adhesives. Demand for soy derivatives such as soybean oil and lecithin is fueled by the move towards renewable and biodegradable materials. Governments that support the adoption of biofuels also support the production of soybeans since its oil is a major feedstock for biodiesel production. In July 2024, BASF is adding 19 new products to its Xitavo soybean seed portfolio for the 2025 growing season, increasing the number to 46, from relative maturities of 0.0 to 4.8.

Challenges in the Global Soybean Market

Fluctuating Prices and Trade Disruptions

International soybean prices are extremely volatile, driven by climate change, geopolitical tensions, and trade policies. For example, tariff wars between large producers and importers, like the U.S. and China, upset market stability, affecting growers and exporters.

Environmental Concerns and Deforestation

Soybean production has been associated with deforestation, especially in areas such as the Amazon rainforest. Habitat loss and biodiversity reduction due to expanding soybean farms lead to more environmental organizations scrutinizing the industry. Increased regulations on land use and deforestation can be a challenge to market expansion.

Conventional Soybean Market

The Conventional Soybean Market is fueled by conventional farming methods and non-GMO soybean cultivation. Such soybeans are favored in markets where consumers look for affordability more than organic or genetically modified alternatives. Conventional soybeans find extensive applications in food processing, animal feed, and industrial purposes because of their affordability and rich protein content. The market is sustained by strong demand in emerging markets, but it is threatened by increasing popularity of organic and non-GMO soybeans in high-end markets.

Processed Soybean Market

The Processed Soybean Market targets products such as soybean oil, soy protein isolates, and soy flour from raw soybeans. Processed soybeans serve the food, feed, and industrial markets through diverse uses. Soy oil is a primary ingredient in cooking and biodiesel, while soy protein fills plant foods. Increased consumer desire for added value products and improvements in processing technologies propel this market.

Food & Beverages Soybean Market

The Food & Beverages Soybean Market includes products such as tofu, soy milk, soy meat alternatives, and soy protein powders. These products are targeted at health-conscious individuals and those following plant-based diets. The market is supported by the increasing trend towards vegetarian and vegan lifestyles, particularly in developed economies. Developments in soy-based foods, in terms of taste and nutritional content, continue to increase the appeal of this segment, supporting market growth.

Animal-Feed Soybean Market

Soybean meal, a protein-rich by-product of oil processing, leads the Animal-Feed Soybean Market. It is widely used in animal feed by poultry, swine, and aquaculture businesses because it is cost-effective and rich in nutrients. As the world's meat production increases to cater to demand, the animal-feed soybean market sees tremendous growth. New developments in feed formulation and the growth of livestock farming in developing countries also fuel this segment.

USA Soybean Market

The United States is a giant among nations in the world soybean market, with a reputation for huge exports to the global economy. Known for its high quality and consistency, American soybeans are highly sought after by customers globally. The surging demand for biofuels, and the fast expansion of livestock production, drives the home market as well as boosts the nation's position in the competitive global soybean market. This lively farm market remains healthy, coping well with the growing needs of consumers as well as industry. Feb. 2024 – Pioneer makes Pioneer® brand Z-Series soybeans commercially available in the U.S. and Canada. This new soybean crop provides growers a substantial yield benefit and improved disease resistance.

Germany Soybean Market

In Germany, the German soybean market is dominated by the rising demand for organic and non-GMO soy products, which is a part of an overall trend towards healthier and greener food consumption. The nation is highly dependent on imported soybeans, which are needed for feed and food uses. But there is a discernible trend towards the support of sustainable practices and the promotion of locally produced soy products. This increased awareness has created substantial initiatives towards decreasing reliance on imported soy through the promotion of domestic cultivation. Consequently, discussions regarding agricultural practices and sustainability are gaining momentum, opening the door to a more self-sufficient and environmentally friendly soybean industry in Germany. June 2024 - Soy remains a specialty crop in Germany, but demand is increasing and the cultivation potential exists. A major animal feed producer has responded, increased production capacity and is actively seeking additional soybean growers.

China Soybean Market

China has emerged as the world's largest soybean importer, a critical commodity that is vital for animal feed and oil extraction. As the country's population expands and the need for meat increases, its appetite for soybean imports becomes increasingly insatiable. In spite of being confronted with a range of trade issues, China manages the global soybean market deftly, strategically consolidating its leadership by cultivating stable supplier relationships. This strategic move is designed to obtain a regular and continuous supply of this vital commodity, highlighting the key position soybeans occupy in facilitating the nation's agricultural and economic aspirations.

UAE Soybean Market

The UAE soybean market is witnessing rapid growth, driven by growing demand for soybean products in both the food sector and animal feed markets. While the country focuses on food security, it depends almost exclusively on imports from top international soybean-producing nations to cater to its demand. The rising trend of following plant-based diets and a strong investment in the livestock industry take a central position in boosting the market scenario. This growing demand for sustainability and health-conscious eating is compelling consumers to look for varied soybean products, further increasing their market presence. January 2024, Benson Hill, Inc., a company that is harnessing the natural genetic diversity of plants through ag-tech, announced that recent developments in its soybean breeding program will propel the doubling of its seed portfolio by 2025.

Soybean Market Segments

Nature

1. Conventional
2. Organic

Form

1. Processed
2. Raw

End User

1. Food & Beverages
2. Animal-feed
3. Others

Countries

North America

• United States
• Canada

Europe

• France
• Germany
• Italy
• Spain
• United Kingdom
• Belgium
• Netherlands
• Turkey

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Thailand
• Malaysia
• Indonesia
• New Zealand

Latin America

• Brazil
• Mexico
• Argentina

Middle East & Africa

• South Africa
• Saudi Arabia
• UAE

All the Key players have been covered from 4 Viewpoints:

• Overview
• Key Persons
• Recent Development
• Financial Insights

Key Players Analysis

1. Kerry Group plc.
2. Fuji Oil Co., Ltd.
3. House Foods Corporation
4. Danone North America
5. DuPont de Nemours, Inc.
6. CHS Inc.
7. Cargill, Inc.
8. Scoular
9. Archer-Daniels-Midland Co.

Report Details: