Soybean Market Report 2025 (Global Edition)

Global Soybean Market Report 2025 Market Size Split by Type Outlook: (Conventional, Organic), by Form Outlook: (Processed, Raw), by End Use Outlook: (Industrial, Food & Beverages, Animal Feed, Others)...

Soybean Market Report Description

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Competitive Landscape of the Soybean Market

The Soybean Market has a varied environment, anticipating more rivalry due to the influx of many participants in the sector. Prominent market participants continually refine their technology to maintain a competitive edge, emphasising efficiency, integrity, and safety. These businesses prioritise strategic actions like alliances, product improvements, and joint initiatives to outpace their competitors. Their objective is to secure a significant market share.

In December 2022, Bunge has disclosed its intention to allocate approximately $550 million toward the construction of a fully integrated soy protein concentrate (SPC) and textured soy protein concentrate (TSPC) facility in Morristown, Indiana. The objective of this new facility is to satisfy the increasing demand for feed products, pet food, processed meat, and plant-based foods. It is anticipated that the facility will process an additional 4.5 million bushels of soybeans. Construction is expected to commence in the first quarter of 2023 and conclude by mid-2025, resulting in the creation of approximately 70 full-time positions. This facility will fortify Bunge's dedication to sustainability and innovation, as well as improve its capabilities in downstream higher value food ingredients. (Source: https://bunge.com/Press-Releases/Bunge-To-Invest-in-New-Protein-Concentrate-Facility-in-the-US) In November 2023, Cargill has successfully completed an expansion and modernization project at its soybean processing plant in Sidney, Ohio. The upgraded facility, which commenced operations in September, has nearly doubled the previous crush capacity, thereby enhancing market opportunities for local farmers and feed customers. This improvement enables the unloading and processing of soybeans to be completed more rapidly and efficiently. The plant is now more effectively able to meet the increasing demand for soy products in the food, feed, and renewable fuel markets. This project, which is a component of Cargill's overarching initiative to modernize its North American oilseeds network, emphasizes the company's enduring dedication to its agricultural partners and the local community. (Source: https://www.cargill.com/2023/cargills-newly-expanded-soybean-processing-plant-in-sidney) In November 2021, Ag Processing Inc. (AGP) has proposed a $72 million expansion of its soybean-crushing plant in Sergeant Bluff, Iowa. The expansion is anticipated to be finalized by the fall of 2023 and is designed to increase capacity and generate two new jobs. $842,000 in investment tax credits and sales taxes are being considered by AGP, which is seeking nearly $1.5 million in state and local financing. The state assistance is contingent upon a local government match of $580,000 in tax breaks over a five-year period. This expansion is a continuation of prior investments, which include a $38 million biodiesel plant expansion and a $90 million vegetable oil refinery that was constructed in 2017. (Source: https://apnews.com/article/business-iowa-nebraska-omaha-sioux-city-08de921a35abb7c987a0ec9c12878a65)

Top Companies Market Share in Soybean Industry: (In no particular order of Rank)

• AG Processing Inc.
• Archer-Daniels-Midland Co
• Bunge Limited
• Cargill Incorporated
• CHS Inc.
• Clarkson Grain Company
• COFCO Corporation
• Fuji Oil Group
• Glencore
• Noble Group Limited
• Nordic Soya Oy
• Olam Agri Holdings Pte Ltd
• SLC Agrícola
• The Scoular Company
• Willmar International Limited
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Soybean Market

Which Region Dominates the Soybean Market in 2024?

According to Cognitive Market Research, North America currently dominates the Soybeans market, and the region is expected to have significant growth during the projected period. The soybean market in North America is driven by strong export demand, sustainable farming practices, and innovations in agricultural technology, as well as government support for biofuel production.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). The market is experiencing growth due to a cultural preference for soy-based foods, rising incomes, and rapid economic development. This trend is further exacerbated by the growing demand for plant-based alternatives and the expanding livestock industry.

The current report Scope analyzes Soybean Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Soybean

According to Cognitive Market Research, the global Soybean market size was estimated at USD 157421.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 62968.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Soybean market with a market size of USD 49682.23 million in 2024 and is projected to grow at a CAGR of 3.2% during the forecast period. The U.S. market's Growth is fueled by robust export markets and advanced agricultural technologies.
• The Canada Soybean market had a market share of USD 7556.23 million in 2024 and is projected to grow at a CAGR of 4.2% during the forecast period. Canada’s Consumer preferences are being met by the expansion of non-GMO soybean cultivation.
• The Mexico Soybean market is projected to witness growth at a CAGR of 3.9% during the forecast period, with a market size of USD 5730.14 million in 2024.

Europe Soybean

According to Cognitive Market Research, the global Soybean market size was estimated at USD 157421.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 47226.45 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.

• The United Kingdom Soybean market had a market share of USD 7934.04 million in 2024 and is projected to grow at a CAGR of 4.5% during the forecast period. In the UK, Emphasize sustainable agriculture and the production of high-quality food.
• The France Soybean market is projected to witness growth at a CAGR of 2.9% during the forecast period, with a market size of USD 4344.83 million in 2024.
• According to Cognitive Market Research, the German Soybean market size was valued at USD 9350.84 million in 2024 and is projected to grow at a CAGR of 3.9% during the forecast period. In Germany, Soybean surged due to the robust livestock industry and innovation in farming practices.
• The Italy Soybean market is projected to witness growth at a CAGR of 3.1% during the forecast period, with a market size of USD 4061.47 million in 2024.
• The Russia Soybean market is projected to witness growth at a CAGR of 2.7% during the forecast period, with a market size of USD 7320.10 million in 2024.
• The Spain Soybean market is projected to witness growth at a CAGR of 2.8% during the forecast period with a market size of USD 3872.57 million in 2024
• The Luxembourg Soybean market is projected to witness growth at a CAGR of 3.8% during the forecast period, with a market size of USD 1464.02 million in 2024.
• The Portugal Soybean market is projected to witness growth at a CAGR of 3.5% during the forecast period, with a market size of USD 991.76 million in 2024.
• The Greece Soybean market is projected to witness growth at a CAGR of 4.0% during the forecast period, with a market size of USD 566.72 million in 2024.
• The Rest of Europe's Soybean market is projected to witness growth at a CAGR of 2.4% during the forecast period, with a market size of USD 7320.10 million in 2024.

Asia Pacific Soybean

According to Cognitive Market Research, the global Soybean market size was estimated at USD 157421.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 36206.95 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.

• According to Cognitive Market Research, the China Soybean market size was valued at USD 16293.13 million in 2024 and is projected to grow at a CAGR of 6.7% during the forecast period. China's demand is bolstered by the country's expanding population and increasing health awareness.
• The Japan Soybean market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 4996.56 million in 2024.
• The India Soybean market had a market share of USD 4344.83 million in 2024 and is projected to grow at a CAGR of 9.0% during the forecast period. India's rising Government initiatives to encourage the growth of agriculture and incomes.
• The South Korean Soybean market is projected to witness growth at a CAGR of 6.3% during the forecast period, with a market size of USD 3620.69 million in 2024.
• The Australian Soybean market is projected to witness growth at a CAGR of 6.9% during the forecast period, with a market size of USD 1882.76 million in 2024.
• The South East Asia Soybean market is projected to witness growth at a CAGR of 8.2% during the forecast period, with a market size of USD 2498.28 million in 2024.
• The Rest of Asia Pacific Soybean market is projected to witness growth at a CAGR of 7.0% during the forecast period, with a market size of USD 2570.69 million in 2024.

South America Soybean

According to Cognitive Market Research, the global Soybean market size was estimated at USD 157421.5 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 7871.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Soybean market size was valued at USD 3368.82 million in 2024 and is projected to grow at a CAGR of 5.2% during the forecast period. Brazil supports production through its favorable climate and extensive agricultural land.
• Argentina's Soybean market had a market share of USD 1322.34 million in 2024 and is projected to grow at a CAGR of 5.5% during the forecast period. Argentina's Advanced farming techniques and a robust export market.
• Colombia Soybean market is projected to witness growth at a CAGR of 4.4% during the forecast period, with a market size of USD 700.53 million in 2024.
• Peru Soybean market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD 645.43 million in 2024.
• Chile Soybean market is projected to witness growth at a CAGR of 4.9% during the forecast period, with a market size of USD 566.72 million in 2024.
• The Rest of Latin America's Soybean market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD 1267.24 million in 2024.

Middle East Soybean

According to Cognitive Market Research, the global Soybean market size was estimated at USD 157421.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 3148.43 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031..

• The GCC Countries Soybean market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 1347.53 million in 2024. Soybean sales flourish due to the Emphasis on food security and modernization of agriculture.
• The Egypt Soybean market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 330.59 million in 2024.
• The South Africa Soybean market is projected to witness growth at a CAGR of 5.9% during the forecast period, with a market size of USD 497.45 million in 2024. Soybean sales flourished in South Africa due to Growing demand for soybeans in food and feed applications.
• The Turkey Soybean market is projected to witness growth at a CAGR of 4.4% during the forecast period, with a market size of USD 270.76 million in 2024.
• The Nigeria Soybean market is projected to witness growth at a CAGR of 4.0% during the forecast period, with a market size of USD 330.59 million in 2024.
• The Rest of the MEA Soybean market is projected to witness growth at a CAGR of 3.9% during the forecast period, with a market size of USD 371.51 million in 2024.

Soybean Market Analysis

How are Segments Performing in the Global Soybean Market?

Soybean Market Type Segment Analysis

According to Cognitive Market Research, Conventional are likely to dominate the Soybean Market over the forecast period. Conventional soybeans, sometimes genetically modified organisms (GMO), are favoured for their superior production, pest and disease resistance, and enhanced adaptation to many climatic conditions. These characteristics make traditional soybeans more appealing to farmers, leading to increased output levels.

The Organic is the fastest-growing segment in the Soybean Market. The rising public awareness of the health advantages and environmental sustainability linked to organic goods is propelling the demand for organic soybeans. Organic soybeans are cultivated without synthetic pesticides and fertilizers, making them a favoured option for health-conscious customers and those seeking ecologically sustainable alternatives.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Soybean Industry. Request a Free Sample PDF!

Soybean Market Form Segment Analysis

According to Cognitive Market Research, the Processed segment holds the largest share of the market. Processed soybeans, encompassing soybean meal, oil, and other derivatives, are extensively used throughout diverse sectors, including animal feed, food manufacturing, and industrial applications. The adaptability and significant demand for these items position processed soybeans as the foremost category in the industry.

In the Soybean Market, the Raw sector has been expanding at a rapid pace. The growing consumer inclination towards natural and less processed meals is propelling the demand for raw soybeans. Raw soybeans are used in several health-oriented goods, such as soy milk, tofu, and edamame, addressing the increasing trend of plant-based diets and clean eating.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Soybean End Use Outlook: Segment Analysis

Soybean Market End Use Segment Analysis

According to Cognitive Market Research, The Animal Feed segment holds the largest market share. Soybean meal, a byproduct of soybean processing, serves as a highly nutritious and economical protein source for cattle and poultry. The increasing need for animal protein, particularly in emerging nations, propels the widespread utilization of soybean meal in animal feed, establishing it as the predominant application in the market.

In the Soybean market, the rapidly growing sector is the Food & Beverages category. The increasing consumer knowledge of the health advantages of soy-based goods, including soy milk, tofu, and soy protein, is driving the expansion of this sector. The growing inclination towards plant-based diets and the desire for sustainable food sources are driving the fast proliferation of soybeans in the food and beverage sector.

• Industrial
• Food & Beverages
• Animal Feed
• Others

Author's Detail

Nisha Deore

Research Analyst at Cognitive Market Research

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I am a well-organized, conscientious, and professional Research Analyst with two plus years of experience. In my current role, I conduct in-depth secondary research, data mining, competitive analysis, DRO's, PR, and Collateral writing. Whilst I enjoy working as part of a team, researching information, analyzing data, and producing results that help my organization to achieve its commercial and financial objectives.

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