Soybean Market Growth and Trends: Key Insights into Market Opportunities for 2025-2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What External and Internal Drivers Are Contributing to the Growth of theSoybean Market?
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.
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What is the Predicted Annual Growth Rate of theSoybean Market Impact Industry Trends by 2034?
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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Which Upcoming Market Trends and Innovations Are Set to Influence theSoybean Market’s Path Forward?
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.
Who Are the Dominant Market Players Pushing the Boundaries of theSoybean 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 Are the Core Segments of the Soybean Market, and How Do They Contribute to 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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What Regions Are Dominating the Soybean Market Growth?
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.
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