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April 2025
The global soybean market size was valued at USD 199.66 billion in 2024 and is forecast to rise from USD 208.64 billion in 2025 to approximately USD 310.07 billion by 2034 with a CAGR of 4.50% during the forecast period from 2025 to 2034. The growth factor for soybean is into animal feed industry specially in livestock and poultry industries and also in the food processing industry to produce a several products like soy milk, tofu, soy sauce and cooking oil.
Soybeans are a kind of legume which are rich in proteins and healthful, which gives them several nutritional uses. Consumers can eat them, drink them in the form of milk, and consume them in supplement form. Apart from nutrition, they are utilised to extract cooking oil, which makes them ecologically friendly fuel, as well as crayons, candles, and engine lubricants. Soybeans come in three colors such green, yellow, and Black, which are greatly utilized in Asian food culture. They are also known as Glycine max, which contain antioxidants and phytonutrients.
The growing livestock industry is an important sector driver of the soybean market, as soybean meal serves as a high-quantity protein for poultry, cattle, and swine. On the other hand, there is a complicated balance between supply and demand for the market. As the soybean harvest finishes in Brazil’s Mato Grosso, which is the world’s largest soybean-producing region has recorded a cater of 49.62 million tonnes in the year of 2024-2025.
There are several opportunities in the soybean market as biofertilizers, which are a part of the agricultural biologicals category that introduces beneficial micro-organisms to soil. These microorganisms enhance soil fertility by increasing nutrient absorption and availability whose outcome is a healthier and resilient soybean plant. As consumers and industries accelerate the use of friendly products, farmers can utilize agricultural biologicals, which can market their crops as sustainable. Eco-friendly farming can develop biological inputs as they lessen the demand for artificial pesticides and fertilizers.
Biopesticides support crops naturally from pests and diseases, which assist them in yield quality. They are secure for the environment and have fewer bad effects on the soil’s long-term health benefits as they are sourced from natural resources. Also, agricultural biologists often prove more cost-effective as compared to traditional chemical inputs. Farmer profitability can be grown by improving soil health and decreasing reliance on costly chemical fertilizers.
The major challenges and limitations faced by the soybean market is faced by farmers due to non-accessibility of labour needed at times due to the impact of weather, the higher cost of agrochemicals, and the complexities in getting credit. Time-to-Time harvesting is crucial for soybean farming. If the harvesting gets delayed, then the grain will emerge from the pod, and if it falls on soil, it can reduce overall production. Farmers even have a lack of storage, so they must sell the produce immediately after harvesting.
Asia Pacific Dominated the Soybean Market in 2024.
The consumers are heavily aware of health risks linked with high product consumption such as saturated fat and cholesterol. These issues have led to several plant proteins as healthier alternatives. As a result, consumers still give importance to naturalness and digestive health, which avoids artificial ingredients and GMOs too. Most Asian consumers always scrutinize ingredient labels on plant-based products.
The plant protein market trend has resulted in rising issues for animal welfare and the environmental effect of animal agriculture, which are driving consumers to choose plant-based options. Plant-based proteins offer a lesser environmental effect as compared to animal products, which contribute to greenhouse gas emissions, water pollution, and deforestation. The third and last trend is related to technological advancement in plant-based protein, which has considerably improved texture, taste and functionality, which makes them more attractive than animal products.
China Has Marked a Significant Share in Asia Pacific in the Year 2024.
Soybean cultivation in China is focused primarily in the vast northeastern region, which is the main soybean developing area of the region. Heilongjiyang province, which is China’s largest producer of soybean, has led to significant growth in soybean output and cultivation, which yielded 9.54 million in 2022, which resulted in 47% of the country’s total output. The province has grown yields with the help of improved varieties and innovative field management techniques. Furthermore, the black earth in Heihe is known for its fertility, which contributes to the high quality of locally grown soybeans.
North America Expects Significant Growth in the Soybean Market During the Forecast Period.
A growing population, rising consumer consciousness, and climate change are adding new pressures and greater demand for sustainable nutrition and energy. United States soy farmers assist in growing and developing sustainable solutions to today’s biggest issues. The sustainable soy products are now a complete package of 10,000+ product packs, which forms a crucial part of U.N sustainable development goals.
Soybeans are officially cultivated and grown in Eastern and Western Canada by heavily focus is on the East. Canada is one of the largest exporters of the soybean and China is the largest buyer of soybeans from Canada. Meanwhile, soybeans are crushed in eastern Canada, whereas some eastern Canadian soybeans are imported to food markets. Canadian farmers have advantages from the significant growth in the global soybean trade.
With instance to this,
The GMO Segment Led the Soybean Market in 2024.
As crop production has grown, agricultural researchers have developed new growing systems, inputs, and genetically modified seeds to increase yields of mass-produced crops like soybeans. These advances have emerged production to serve an abundant, affordable source of protein for human food and animal feed. Around the world, most large-scale soybean processors depend on solvent extraction to differentiate the oil from the meal to supply food and feed markets. Whereas, the small-scale mechanical oil may not compete with solvent extractors when they offer an unwanted benefit or organic soybean meal.
The Non-GMO Segment is Expected to Grow at the Fastest Rate During the Forecast Period.
Consumer attitude towards non-GMO is very positive, which shows a rising preference for natural and perceived healthier food options. Several consumers link non-GMO with environmental benefits and health, which drives growth. Furthermore, there is emerging interest in traceability and transparency in food production as consumers are finding information about their food origins and production methods.
The Processed Soybean Segment Dominated the Soybean Market in 2024.
Soybean is well known for its high protein value, and the health and nutritious value comes from Nigeria. The beans are very low in carbohydrates and have a lower glycaemic index, which is a measure of how foods can affect the growth in blood sugar after a meal. Processed soybeans come in different forms, such as tofu, soy milk, and soy oil, which are excellent sources of protein, having a specific amount of phytic acid, B Vitamins, and dietary minerals.
The Raw Segment is Expected to Grow at the Fastest Rate in the Soybean Market During the Forecast Period.
The market for raw soybean is expanding due to several factors, particularly from China, where soybeans are hugely utilised for animal feed and soy-based food products. Additionally, the rising use of soybean oil in the biofuel industry, especially for biofuel production, is contributing to increased demand. Soy-based products are also utilised in inks, plastics and adhesives, and other industrial materials, which contributed to broader demand.
The Animal Feed Segment Dominated the Soybean Market in 2024.
The effective use of soybean in the livestock industry has become a crucial practice to improvise animal productivity and health. By adding soybean into animal feed, directors can improve feed conversion, promote faster and healthier growth. Furthermore, the balance of amino acids and high digestibility contributes to better acceptance of nutrients, which converts into better performance in milk and meat production. To maximize the advantages, it is crucial to adjust the proportions and combinations with other feeds according to specific requests of the livestock, which ensures a balanced and efficient diet.
The Food and Beverage Segment are Expected to Grow at the Fastest Rate in the Soybean Market During the Forecast Period.
Soybean can be utilised in the production of dairy products, such as formula milk powder and liquid milk. It can be improved using the protein content and milk nutrition and flavor, which gives beneficial advantages in amino acid content, flavor, and ratio. It can be used as a functional additive or non-non-functional filler in the manufacturing of meat products. Apart from this, it is beneficial in fish products, baked goods and pasta foods, protein drinks, and canned food too.
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