Soybean Market To Reach $258.12 Billion By 2030 | CAGR 4.4%

Soybean Market Growth & Trends

The global soybean market size is expected to reach USD 258.12 billion by 2030 and expand at a CAGR of 4.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The demand for soybean byproducts like soybean meal and oil cakes has increased over the past few years. The high nutritional value of the products has enhanced their popularity among consumers, increasing the market. The increased disposable income of consumers in developed countries and the improved soybean productivity contributed to the demand for soybean byproducts in these countries.

Plant-based protein such as soybean is likely to be in high demand globally as several people are steadily moving toward a vegan lifestyle. In addition to that, the world is becoming healthier and fitter, necessitating higher protein content on our plates. Soybean is a source of protein that also has a lot of health benefits. It aids in our digestive health maintenance and can be molded into various shapes in daily dishes. Soy consumption daily is good for hair and skin health. Soybean is high in amino acids and is especially advantageous to people who have lactose intolerance. These factors are likely to propel the growth of the market shortly.

Soybean is considered a near-perfect dairy substitute. It has become increasingly popular amongst lactose-intolerant people. Soy curd, tempeh, tofu, and soy milk are just a few of the products available in the global market for soybean. These products can fully substitute milk and its various products in day-to-day life. As a result, soybean dairy-like products are likely to disrupt the market and determine its course of direction soon.

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Soybean Market Report Highlights

• GMO soybeans are engineered to resist pests and diseases, leading to higher crop yields. It appeals farmers as it allows them to produce more soybeans per acre, increasing their profitability

• The raw form is expected to grow at the fastest CAGR from 2024 to 2030. Raw soybeans are rich in essential nutrients, including protein, dietary fiber, vitamins, and minerals. They are considered a healthy food option and are included in diets for their potential benefits, such as heart health, weight management, and cholesterol control

• Asia Pacific is expected to grow at the fastest CAGR from 2024 to 2030. Asia Pacific is home to a significant portion of the world's population, and many countries in this region are experiencing rapid economic growth. As incomes rise, so does the demand for protein-rich foods, including soybean-based products. This growing middle-class population with higher purchasing power is a crucial driver of increased soybean consumption

Soybean Market Segmentation

Grand View Research has segmented the global soybean market based on nature, form, end-use, and region.

Soybean Nature Outlook (Revenue, USD Billion, 2018 - 2030)

• GMO

• Non-GMO

Soybean Form Outlook (Revenue, USD Billion, 2018 - 2030)

• Raw

• Processed

Soybean End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• Food & Beverages

• Animal Feed

• Industrial Use

• Others

Soybean Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • Indonesia

  • Australia & New Zealand

• Central & South America

  • Brazil

• Middle East & Africa

  • South Africa

List of Key Players in the Soybean Market

• Clarkson Grain Company

• Willmar International Limited

• SLC Agrícola

• Glencore

• ADM

• The Scoular Company

• Cargill, Incorporated

• Bunge Limited

• Louis Dreyfus Company

• Kohinoor Feeds & Fats Pvt. Ltd.

• Ag Processing, Inc.