Press release
Soybean Market Set to Reach $210.6 Billion by 2029 with 5.6% Yearly Growth
Soybean Market Growth
The surge in animal feed usage is anticipated to spur the expansion of the soybean market in the future. Animal feed, which typically comprises grains, forages, and dietary supplements, is predominantly given to domestic animals to offer the necessary nutrients for their growth, sustenance and productivity. The escalating demand for animal feed is prompted by the growing global populace and the increasing intake of meat and dairy commodities. Soybeans are chiefly utilized in animal feed due to their abundant protein content, vital amino acids, and advantageous nutrient composition, which render them a competent nutrition source for livestock. For instance, the Agriculture and Horticulture Development Board, a statutory levy organization based in the UK, reported in September 2024 that the total production from July to January in the current season, encompassing integrated poultry units (IPUs), reached 7.81 million tonnes. This signifies a 1.3% rise compared to feed production during the analogous period last year, which was 7.71 million tonnes. Consequently, the upward trajectory of animal feed consumption is fueling growth in the soybean industry.
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What is the future CAGR of the soybean market, and how will it impact industry expansion?
In recent times, the size of the soybean market has expanded significantly. The market size which was at $160.29 billion in 2024 is predicted to rise to $169.68 billion in 2025, recording a compound annual growth rate (CAGR) of 5.9%. Factors such as increasing global demand, biofuel production, favorable weather patterns, trade regulations, and the growth of the livestock industry have contributed to the historic growth.
In the upcoming years, the soybean market is predicted to experience significant growth, expanding to a valuation of $210.62 billion in 2029, with a compound annual growth rate (CAGR) of 5.6%. The anticipated growth during this period is attributed to factors such as population increase, shifts towards plant-based proteins in diets, the effects of climate change, trade deals, and market diversification. Observing the trends for the period, there is a rising demand for organic soybeans, a greater emphasis on sustainability, volatile commodity prices, evolving consumer tastes, and an upsurge in alternatives based on soy.
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What are the most significant trends transforming the soybean market today?
Leading firms in the soybean market are turning towards innovation for better outcomes, emphasizing the development of high-yield soyseed types to improve crop resilience and yield. These are selectively bred or genetically enhanced soybeans that provide a higher amount of soybeans per acre compared to conventional varieties. For instance, Protealis, a Belgium-based company specializing in seed and seed technologies for sustainable plant proteins, unveiled four new soybean varieties in Europe in March 2024. These include PRO Vesuvio, PRO Helicon, PRO Taranaki, and PRO Jacinto. These varieties, tailored to thrive in cooler climates with shorter growing periods, are highly suitable for regions like Belgium, France, and Germany. The main goal behind this strategic move is to enhance local protein production and provide sustainable options for farmers looking to shift from traditional crops. These varieties offer both high protein content and high yield, making them a valuable asset for European farmers aiming to implement more sustainable methods in their crop rotations.
Which key market segments comprise the soybean market and drive its revenue growth?
The soybeanmarket covered in this report is segmented -
1) By Type: Conventional, Organic
2) By Form: Processed, Raw
3) By End-Use: Food And Beverages, Soybean Food Products, Fermented Soya Food, Non-Fermented, Soybean Oils, Animal Feed
Subsegments:
1) By Conventional: Non-GMO Soybeans, GMO Soybeans
2) By Organic: Organic Non-GMO Soybeans, Organic GMO Soybeans
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Which region dominates the soybean market?
Asia-Pacific was the largest region in the Soybean market in 2024. The regions covered in the soybean market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the soybean market?
Major companies operating in the soybean market are Glencore plc, Cargill Incorporated, Archer Daniels Midland, Wilmar International Limited, Bunge Limited, COFCO International, Louis Dreyfus Company, CHS Inc., Corteva Agriscience, Scoular, AG Processing Inc., Fuji Oil Co. Ltd., House Foods Corporation, SLC Agrícola, Olam Group, Clarkson Grain Company, Nordic Soya Oy, Denofa AS, Noble Ecotech, Protealis
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What Is Covered In The Soybean Global Market Report?
•Market Size Forecast: Examine the soybean market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the soybean market for a structured understanding.
•Key Players Overview: Analyze major players in the soybean market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the soybean market.
•Segment Contributions: Evaluate how different segments drive overall growth in the soybean market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the soybean market.
•Industry Challenges: Identify potential risks and obstacles affecting the soybean market.
•Competitive Landscape: Review strategic developments in the soybean market, including expansions, agreements, and new product launches.
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