The Soybean Market Report is Segmented by Geography (North America, Europe, Asia-Pacific, and More). The Report Includes Production Analysis (Volume), Consumption Analysis (Value and Volume), Export Analysis (Value and Volume), Import Analysis (Value and Volume), and Price Trend Analysis. The Market Forecasts are Provided in Terms of Value (USD) and Volume (Metric Tons).

The global soybean market was valued at USD 157.60 Billion in 2024 and is expected to grow at a CAGR of 4.10% during the forecast period of 2025-2034 to reach a value of USD 235.54 Billion by 2034. The growing demand for soybeans in food, animal feed, and biofuels has boosted the overall consumption rate.

Key Market Insights

• Asia Pacific has emerged to be the dominant region with a CAGR of 5.3% during the forecast period.
• The rising popularity of plant-based diets has increased soyabean consumption, especially in food products including tofu and soy milk.
• The India soyabean market is projected to register 6.1% CAGR during the forecast period.
• By application, the animal feed segment is expected to register a CAGR of 4.7% during the forecast period.
• By nature, the organic segment is expected to garner a 4.6% CAGR through 2034.

Market Size & Forecast

• Market Size in 2024: USD 157.60 Billion
• Projected Market Size in 2034: USD 235.54 Billion
• CAGR from 2025 to 2034: 4.10%
• Dominant Regional Market: Asia Pacific

Soybeans are rich in protein and oil, driving consumption in health-conscious diets. Additionally, soybean production benefits from technological advancements, favourable trade policies, and increasing plant-based product demand worldwide.

The Soybean Market size was valued at USD 198.12 Million in 2023 and is projected to reach USD 318.14 Million by 2032, exhibiting a CAGR of 7.00 % during the forecast periods. The soybean market plays a pivotal role in global agriculture, driven by its diverse applications in food, feed, and industrial sectors. Key features include its high protein and oil content, making it a staple in animal feed and human diets. Soybeans are processed into oil, meal, and various food products, such as tofu and soy milk. The market is segmented by type (GM and non-GM soybeans) and technology (conventional and advanced breeding techniques). Technological advancements, such as precision farming and biotechnological innovations, enhance yield and quality. The soybean market significantly impacts global food security, economic growth, and sustainable agriculture practices. Its advantages include nutritional benefits, renewable resources, and contributions to biofuel production, which support environmental sustainability. Key drivers for this market are: Rising Consumption of Cashew Nuts in the Country, Favorable Government Initiatives. Potential restraints include: Hazardous Climatic Condition Hinders Cashew Production, Stringent Regulations Related to Food Quality Standards. Notable trends are: Increased Demand for the Byproducts of Soybean.

The Soybean Market size was valued at USD 199.63 billion in 2023 and is projected to reach USD 269.85 billion by 2032, exhibiting a CAGR of 4.4 % during the forecasts period. The Soybean Market includes the production, buying, and selling of soybeans, which is a highly useful and nutritious seed that is cultivated to be eaten and as even an oil source. It is used in many ways in the production of tofu, soy milk, and products like soap, margarine, meat substitutes, animal feed, biofuel, and many other industrial uses like making soy-based plastics and cosmetics. Some of the trends anticipated in the market today include high demand for plant protein meals, the growth of soybean food as a source of energy for biodiesel, and third, practice of sustainable farming. Market development is caused by increasing awareness of healthy lifestyles, the increasing popularity of the soy sideline, and the attributes that soybeans possess as a crop. Recent developments include: In November 2023, Cargill’s integrated soybean crush and refined oils facility in Sidney, Ohio wrapped up the expansion and modernization project, which came online in September. This improved facility is intended to serve farmers better and fulfill the growing soy product demands across feed, food, and renewable fuel markets. , In November 2021, Ag Processing, Inc. (AGP) expanded soybean processing in Sergeant Bluff, Iowa, with a USD 72 million investment. The expansion benefited soybean producers in Iowa, South Dakota, Nebraska, and Minnesota by creating better markets for their products. AGP is seeking USD 1.5 million in state and local funding for the project. .

soybean market size & share value predicted to reach USD 232.98 billion by 2032, to grow at a CAGR of 4.6% during the forecast period.

The US soybean farming industry is navigating significant changes in the current period, with soybean prices determining the initial rise and recent decline in industry performance. These prices have been influenced by several key factors, including the growing demand for biofuels and mixed consumer perceptions regarding soy products. The demand for soybean oil in biofuel production surged due to supportive policies like the Renewable Fuel Standard and rising crude oil prices, creating a lucrative market for soybean producers. However, subsequent drops in fertilizer and crude oil prices, paired with record-high soybean production, have sharply dropped soybean prices, bringing revenue and profit down with them as farmers struggle to balance costs with lower incomes. Industry has shrunk a compound annual growth rate (CAGR) of 2.6%, with a decrease of 8.7% in 2025, reaching an estimated $44.2 billion. US soybean exports are facing mounting challenges due to competitive pressures abroad and quickly evolving trade policy. Brazil’s increased production and improved export infrastructure have strengthened its position as a major supplier, particularly to China, which is reducing its reliance on US soybeans. This shift threatens US exports and compels American farmers to reassess their strategies, focusing on market diversification and emphasizing quality and sustainability to remain competitive. Rising geopolitical tensions and newly imposed tariffs, such as those affecting key markets like the EU, Canada and China, have further complicated trade, impacting US farmers' access and pricing power in these vital markets. Through the end of 2025, soybean prices are initially projected to decline due to increased production and growing global supplies. However, as climate change impacts crop yields through extreme weather and pest challenges and supplies become limited prices will be pushed upward alongside rising global demand. Subsidies will continue to play a vital role in supporting farmer incomes amids these fluctuations, providing some stability to an otherwise highly volatile industry. However, the industry faces significant uncertainty due to the ongoing USDA funding freeze is creating significant uncertainty, particularly where government support and subsidies are concerned. This freeze is affecting a wide range of agricultural programs including conservation efforts, market development, research and technical assistance. Over the next five years, the industry is expected to grow at a CAGR of 1.3%, with revenues reaching $47.1 billion by the end of 2030.

Global Soybean market size is expected to reach $196.64 billion by 2029 at 4.2%, segmented as by conventional, non-gmo soybeans, gmo soybeans

The Non-GMO Soybean Market report segments the industry into Product (Whole Beans, Crushed Beans), Application (Soybean Meal, Soy Oil, Livestock Feed, Pharmaceuticals, Others), End User (Food and Beverages, Animal Feed, Others), and Geography (North America, Europe, Asia-Pacific, South America, Africa). Includes historical trends with five-year forecasts.

Soybeans rose to 1,045.26 USd/Bu on September 12, 2025, up 1.14% from the previous day. Over the past month, Soybeans's price has risen 2.08%, and is up 3.88% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Soybeans - values, historical data, forecasts and news - updated on September of 2025.

According to Cognitive Market Research, the global Soybean market size will be USD 157421.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.20% from 2024 to 2031.

North America held the major market share for 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.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 47226.45 million.
Asia Pacific held a 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.
Latin America had a market share of more than 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.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at 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 Raw category is the fastest growing segment of the Soybean industry

Market Dynamics of Soybean Market

Key Drivers for Soybean Market

Increasing Demand for Animal Feed to Boost Market Growth

The soybean market is substantially influenced by the increasing demand for animal feed. As the global population expands, there is a growing demand for livestock diets that contain a higher protein content. Soybeans are essential for the preparation of animal feed that promotes the health and productivity of livestock due to their high protein content. This demand is further exacerbated by the increasing consumption of meat and dairy products, particularly in expanding economies. Soybeans are indispensable in the animal husbandry sector due to their provision of essential nutrients that promote the growth and well-being of livestock. Consequently, the soybean market's growth and development are directly influenced by the increasing demand for animal feed.

Increasing Awareness of Health to Drive Market Growth

Another significant driving force for the soybean market is the growing emphasis on health consciousness among consumers. Soybeans, which are recognized for their nutritional benefits, have become an essential component of contemporary nutritional preferences as individuals prioritize healthier dietary choices. The trend toward mindful eating has resulted in an increasing demand for soy-based products and plant-based proteins. Soybeans are an ideal choice for health-conscious consumers who are in search of sustainable and nutritious food alternatives. This is due to their high protein content and essential nutrients. The global soybean market's growth patterns are significantly influenced by the pursuit of healthier lifestyles and the evolving dietary awareness, which in turn promotes the consumption of soy-based products.

Restraint Factor for the Soybean Market

Negative Environmental Consequences, will limit market growth

The expansion of soybean farming, particularly in regions such as Brazil, presents substantial environmental challenges. The Amazon rainforest's extensive deforestation for soy cultivation has severe ecological repercussions, such as the disruption of ecosystems, the loss of biodiversity, and the increase in carbon emissions. The Amazon is essential for regulating the global climate, and the clearing of forests not only destroys habitats but also contributes to climate change. Furthermore, the environment is further burdened by the construction of infrastructure, including roads and ports, to facilitate the expansion of soy. Criticism and calls for more sustainable agricultural practices have been prompted by these environmental impacts. The development of sustainable farming methods and agreements to safeguard forest areas are among the measures implemented to resolve these concerns. Nevertheless, the market continues to face a substantial challenge in reconciling the economic advantages of soy production with environmental conservation.

Impact of Covid-19 on the Soybean Market

Global soybean markets were significantly affected by the COVID-19 pandemic. Lockdown measures and restrictions on movement significantly disrupted economic activities, particularly affecting farmers' capacity to access markets a...

In 2024, the global soya bean market decreased by -8.5% to $181.2B, falling for the second year in a row after three years of growth. The market value increased at an average annual rate of +2.7% from 2012 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at $204.5B in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

Explore recent fluctuations in the soybean market due to global demand shifts, weather patterns, and trade policies. Discover how these factors impact farmers, traders, and international buyers, with a focus on key players like the United States, Brazil, and China. Learn about supply challenges, demand trends, and the role of technological advancements in shaping the future of this vital agricultural sector.

Soybean Market Outlook

As of 2023, the global soybean market size is valued at approximately USD 155 billion, with projections indicating a climb to nearly USD 240 billion by 2032, driven by a compound annual growth rate (CAGR) of 5.1%. The market's expansion is primarily fueled by the escalating demand for sustainable and plant-based protein sources, amidst rising health consciousness and dietary shifts towards vegetarian and vegan lifestyles. Soybeans, being a versatile crop, find applications across various sectors, from food and beverages to pharmaceuticals and biofuels, thereby contributing significantly to market growth.

The growth of the soybean market is significantly propelled by the increasing demand for plant-based food products. As consumers become more health conscious and aware of the sustainability issues associated with animal agriculture, there has been a marked rise in the consumption of soy-based food and beverage products such as tofu, soy milk, and soy-based meat alternatives. This shift in consumer preferences is further supported by the growing trend of vegetarianism and veganism, which has gained traction not only in developed economies but also in emerging markets. Furthermore, the nutritional benefits offered by soybeans, such as high protein content and essential amino acids, make them a popular choice among health enthusiasts, thereby augmenting market growth.

Another key growth driver in the soybean market is the biofuel industry. With increasing emphasis on reducing carbon emissions and promoting renewable energy sources, soybeans have emerged as a critical feedstock for biodiesel production. Governments and environmental agencies across the globe are encouraging the use of biofuels to achieve energy security and reduce reliance on fossil fuels. This shift towards green energy solutions is driving the demand for soybeans, further bolstered by supportive government policies and incentives for biodiesel production in many countries. The biofuel sector's growth directly translates into increased soybean cultivation and processing, thus impacting the market positively.

The pharmaceutical industry also plays a significant role in the expansion of the soybean market. Soybean derivatives, such as soybean oil and isoflavones, are increasingly being utilized in the formulation of various pharmaceuticals and nutraceuticals due to their health benefits, including cholesterol reduction and the potential to alleviate menopausal symptoms. The rising prevalence of chronic diseases and the growing focus on natural and plant-based medicinal products are further encouraging pharmaceutical companies to incorporate soybean-derived ingredients, thereby contributing to the market's overall growth trajectory.

Regionally, Asia Pacific leads the soybean market in terms of production and consumption, owing to substantial production in countries like China and India. Furthermore, the region's vast and rapidly growing population, coupled with rising disposable incomes and changing dietary patterns, bolsters soybean demand. North America and Latin America follow closely, driven by technological advancements in agricultural practices and expansive soybean cultivation in the United States and Brazil. Meanwhile, Europe and the Middle East & Africa are witnessing moderate growth, primarily due to increasing awareness and adoption of plant-based diets and biofuels. These regions are also benefiting from investments in sustainable agriculture and food production technologies.

Product Type Analysis

In the soybean market, product types are segmented into conventional soybeans and organic soybeans. Conventional soybeans dominate the market due to their wide availability and lower production costs. These soybeans are predominantly used in animal feed, food and beverages, and biofuel industries. The high yield and efficient production methods associated with conventional soybeans make them a cost-effective choice for large-scale operations. However, the reliance on genetically modified organisms (GMOs) and chemical fertilizers in conventional farming has raised concerns about environmental sustainability and health effects, prompting a gradual shift towards organic alternatives.

Organic soybeans are gaining traction as consumers become more health-conscious and environmentally aware. The demand for organic produce is rising, driven by the perception that organic farming practices are more sustainable and result in healthier products. The organic soybean market is supported by a growing number of consumers willing to pay a premium for non-GMO, pestici

The U.S. soybean market is projected to grow at over 5.89% CAGR from 2025 to 2030, driven by evolving agricultural practices and increased demand for plant-based protein.

China’s soybean market is expected to grow at over 5.82% CAGR from 2025 to 2030, fueled by increasing demand for plant-based protein and a shift toward more sustainable farming pra

The Soybean Meal Market Report is Segmented by Application (Animal Feed, and More) and by Geography (North America, South America, and More). The Report Includes Production Analysis (Volume), Consumption Analysis (Value and Volume), Export Analysis (Value and Volume), Import Analysis (Value and Volume), and Price Trend Analysis. The Market Forecasts are Provided in Terms of Value (USD) and Volume (Metric Tons).

Global Soybean Meal market size is expected to reach $133.6 billion by 2029 at 6%, rising global demand for protein-rich animal feed fuels soybean market growth

Mexico’s soybean market is anticipated to exceed USD 3.62 billion by 2030, driven by shifts in consumer demand and rising production capacity in the agricultural sector.

The Soybean Market Report is Segmented by Nature (Conventional and Organic), Application (Food, Animal Feed, Industrial, and Others), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Market Forecasts are Provided in Terms of Value (USD) and Volume (Liters).

Check Market Research Intellect's High Oleic Soybean Market Report, pegged at USD 2.5 billion in 2024 and projected to reach USD 4.0 billion by 2033, advancing with a CAGR of 6.5% (2026–2033).Explore factors such as rising applications, technological shifts, and industry leaders.