Press release
Soybean Market Anticipated To Witness Robust Growth, Surpassing $210.62 Billion By 2029
Soybean
What Is the Current Soybean Market Size and Its Estimated Growth Rate?
The soybean market size will grow from $160.29 billion in 2024 to $169.68 billion in 2025 at a compound annual growth rate (CAGR) of 5.9%. Growth is attributed to rising global demand, biofuel production, favorable weather conditions, trade policies, and the expanding livestock industry.
The soybean market is projected to reach $210.62 billion by 2029, growing at a CAGR of 5.6%. The growth is attributed to population growth, plant-based protein shifts, climate change effects, trade agreements, and market diversification. Key trends include increased demand for organic soybeans, sustainability focus, fluctuating commodity prices, changing consumer preferences, and soy-based alternative growth.
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How Are Emerging Segments Shaping the Soybean Market Landscape?
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 Growth Factors Are Influencing Soybean Market Expansion?
The increasing consumption of animal feed is expected to boost the growth of the soybean market. Animal feed consists of grains, forages, and supplements used to provide essential nutrients to animals. The demand for animal feed is rising due to global population growth and higher consumption of meat and dairy products. Soybeans are a key ingredient due to their high protein and nutrient content. For instance, in September 2024, the Agriculture and Horticulture Development Board reported a 1.3% increase in feed production in the UK, reaching 7.81 million tonnes. As a result, the growing demand for animal feed is propelling the soybean market.
Who Are the Dominant Players Across Different Soybean Market Segments?
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
What Are the Major Trends Shaping the Soybean Market?
Major Companies in the soybean market are focusing on high-yield soy seed varieties to increase crop yield and resilience. High-yield varieties are genetically enhanced to produce more soybeans per acre. For instance, in March 2024, Protealis, a Belgium-based developer of sustainable plant proteins, introduced four new soybean varieties in Europe. These varieties are bred to perform well in colder climates and shorter growing seasons, offering sustainable alternatives for farmers.
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Which Geographic Regions Are Expected to Dominate the Soybean Market in the Coming Years?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Soybean Market?
2. What is the CAGR expected in the Soybean Market?
3. What Are the Key Innovations Transforming the Soybean Industry?
4. Which Region Is Leading the Soybean Market?
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