This statistic shows the ten U.S. states in soybean production from 2019 to 2024. Illinois topped the list in 2024, with almost 688 million bushels produced that year. Soybean industry Soybeans are among the major agricultural crops planted in the United States, behind only corn. They belong to the oilseed crops category and most U.S. soybeans are planted in May and early June and are harvested in late September and October. Production practices show that U.S. farmers commonly grow soybeans in crop rotation with corn. More than 80 percent of soybeans are cultivated in the upper Midwest. The Unites States counted Illinois, Iowa, and Minnesota as their leading soybean producing states as of 2022. Historical data shows that large-scale soybean production did not begin until the 20th century in the United States. However, recent statistics illustrate that the acreage of the dominant oilseed crop has expanded rapidly. The expansion of soybean acreage was favored by several factors including low production costs and a greater number of 50-50 corn-soybean rotations. Furthermore, soybeans were one of the first crop types that achieved commercial success as bioengineered crops. The first genetically modified (GM) soybeans were planted in the United States in 1996. They possess a gene that confers herbicide resistance.The usage of soybeans ranges from the animal food industry over human consumption to non-food products. The highest percentage of soybeans goes to the animal feed industry. The products intended for human consumption include products such as soy milk, soy flour or tofu.

This statistic shows the leading countries in soybean production worldwide from 2012/13 to 2024/25. From 2015/16 to 2018/2019, the United States was the leading global producer of soybeans with a production volume of 120.52 million metric tons in 2018/2019. As of 2019, Brazil overtook the United States as the leading soybean producing country with a production volume of some 169 million metric tons in 2023/24. Soybean production Soybeans are among the major agricultural crops sowed in the United States, behind only corn. They belong to the oilseed crops category and the majority of U.S. soybeans is planted in May and early June and is harvested in late September and October. Production practices show that U.S. farmers commonly cultivate soybeans in crop rotation with corn. More than 80 percent of soybeans are grown in the upper Midwest. The Unites States reported Illinois, Iowa, and Minnesota as their leading soybean producing states in 2022. Historical data demonstrates that large-scale soybean production did not commence until the 20th century in the United States. However, the latest statistics illustrate that the acreage of the dominant oilseed crop has expanded rapidly. The certain increase of soybean acreage was supported by several factors including low production costs and a greater number of 50-50 corn-soybean rotations. Furthermore, soybeans were one of the first crop types that accomplished commercial success as bioengineered crops. The first genetically modified (GM) soybeans were cultivated in the United States in 1996. They possess a gene that confers herbicide resistance.The usage of soybeans ranges from the animal food industry over human consumption to non-food products. The highest percentage of soybeans goes to the animal feed industry. The product portfolio intended for human consumption include products such as soy milk, soy flour or tofu.

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.

In 2024, an estimated 4.36 billion bushels of soybeans (or soya beans) were produced in the United States, a significant increase compared to the previous year. Soya beans in the U.S. Alongside the production volume of soybeans, the production value increased in the United States in 2020: the production value of soybeans stood at about 36.8 billion U.S. dollars in 2018 and increased to roughly 57.5 billion U.S. dollars three years later. The states that produced the highest volume of soybeans in 2022 were Illinois, Iowa, and Minnesota, respectively. Leading soybean producers worldwide Since the marketing year of 2012/2013, the United States and Brazil have been the leading producers of soybeans worldwide. Producing about 139 million metric tons of it, Brazil was clearly in the lead in 2021/2022. Other noteworthy countries in terms of soybean production included Argentina, China, and India.

Revenue for soybean farmers has grown because of growth in soybean prices and exports. Exports account for the majority of revenue, so fluctuations in international demand have an outsized impact on revenue. Exports were artificially low in 2019, as they fell to a decade low, providing a small base on which revenue could more easily grow. Trade tensions between Canada and China have prevented further growth in exports. The Canadian government has criticized several social policies enforced by the Chinese administration. Canada has also supported its ally, the United States, in trade disputes with China. Chinese imports of Canadian goods fell sharply in 2019, but have gradually rebounded and are now at 70.0% of 2018 levels. Revenue for soybean farmers has grown at a CAGR of 6.4% to $4.7 billion through the end of 2024, despite a slump of 0.9% in 2024 alone as soybean prices are on the downswing following the COVID-19 pandemic. Global demand for Canadian soybeans has been high in recent years. A relatively weak Canadian dollar has made domestic products more affordable for foreign buyers, stimulating export growth. Farmers are increasingly using genetically modified seeds (GMO) to improve yields. Output per farm has continued to grow in recent years with the use of GMO seeds. Growing soybean prices have led to expanding profit for farmers. Moving forward, growing export markets and increasing farm yields will prompt revenue growth, albeit at a slower rate than in recent years as prices are forecast to remain more steady. In particular, demand from China will climb as the economy opens up following the country's zero-COVID policy. Revenue is forecast to increase at a CAGR of 1.7% to $5.1 billion through the end of 2029.

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...

According to Cognitive Market Research, the global Soybean Seed market size will be USD 10615.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 7.00% 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 4246.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 3184.56 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2441.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 530.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% 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 212.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
The genetically modified (GM) soybean seeds category is the fastest growing segment of the Soybean Seed industry

Market Dynamics of Soybean Seed Market

Key Drivers for Soybean Seed Market

The Rising Global Demand for Soy-Derived Products to Boost Market Growth

The market for soybean seeds is expanding due in large part to the rising demand for items made from soy. In many culinary and non-food items, such as soy milk, tofu, soy protein isolates, and soy oil, soybeans are an essential component. The usage of soy-based substitutes for dairy and animal products is increasing due to the growing popularity of plant-based diets, which are being driven by customers who are concerned about their health and the environment. Additionally, soymeal is a major source of animal feed for the expanding cattle industry. Soybeans' adaptability in industrial uses and biofuel generation further enhances their allure. Farmers are being encouraged by this strong demand to use premium soybean seeds in order to increase output and successfully satisfy market demands.

Expansion of Livestock and Poultry Farming to Drive Market Growth

The rise of the soybean seed market is largely driven by the increase in livestock and poultry farming. Soy is the main source of high-quality protein in animal feed, especially soymeal, for the well-being and productivity of cattle and poultry. As the world's meat consumption keeps rising, there is a growing need for feed made from soybeans. Animal husbandry is expanding quickly in emerging economies because of their expanding populations and rising incomes, which increases demand for soybeans. Farmers are spending more money on pest-resistant and high-yield soybean seeds in order to satisfy the demands of the feed sector and guarantee a steady supply and quality. This pattern helps the global soybean seed market to continue growing steadily.

Restraint Factor for the Soybean Seed Market

High Costs of Genetically Modified (GM) Seeds Will Limit Market Growth

The market expansion for soybean seeds is severely hampered by the high price of genetically modified (GM) seeds. Due to the need for intensive research and development, genetically modified seeds that provide characteristics like insect and herbicide resistance are more expensive. GM seeds are too expensive for many small-scale and resource-constrained farmers, especially in developing nations, which restricts their uptake. Furthermore, GM seeds frequently need supplementary inputs, such as certain pesticides, which raises agricultural costs even more. The financial burden is further increased for farmers by issues with intellectual property restrictions and licensing agreements. This expense barrier prevents broad adoption, which affects the market for soybean seeds' potential for overall growth.

Impact of Covid-19 on the Soybean Seed Market

The COVID-19 pandemic had a major effect on the soybean seed industry by interfering with supply chains, postponing farming activities, and influencing seed distribution. Logistical difficulties brought on by lockdowns and transit limitations made it difficult for farmers to obtain premium seeds during crucial planting seasons. Agriculture-related labor shortages made matters worse, especially in areas where manual farming is ...

The global soybean market, valued at $198.12 billion in 2025, is projected to experience robust growth, driven by increasing demand from the food and beverage, feed, and industrial sectors. A Compound Annual Growth Rate (CAGR) of 7% from 2025 to 2033 indicates a significant expansion, reaching an estimated market size exceeding $350 billion by 2033. This growth is fueled by several key factors. Rising global populations necessitate increased protein sources, making soybeans a crucial component of animal feed and human diets. Furthermore, the growing demand for biofuels and other industrial applications of soybean oil and meal contributes significantly to market expansion. The market segmentation reveals strong performance across diverse seed types (conventional, hybrid, GMO, Non-GMO), with GMO soybeans maintaining a dominant market share due to higher yields and pest resistance. Regional variations exist, with North America and South America remaining major producers and exporters, while Asia-Pacific demonstrates strong import demand due to its large population and growing livestock industry. However, potential restraints include fluctuations in agricultural commodity prices, climate change impacting yields, and increasing concerns regarding GMO usage in certain regions. The leading players, including Bunge, Cargill, and Archer Daniels Midland, are strategically positioning themselves to capitalize on this growth through investments in research, processing infrastructure, and sustainable farming practices. The competitive landscape is characterized by a few major players, driving consolidation and technological advancements. Strategies such as vertical integration and strategic partnerships are prevalent as companies seek to secure supply chains and expand market access. The ongoing shift towards sustainable and organic farming practices presents both opportunities and challenges. While consumer demand for organic soybeans is rising, increasing production costs and yield limitations need to be addressed for widespread adoption. The ongoing geopolitical landscape and trade relations also influence market dynamics, with potential disruptions influencing supply and price volatility. Looking ahead, the soybean market is anticipated to witness continuous growth, but strategic adaptations to address environmental concerns and ensure food security will be paramount for long-term success. 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.

Ontario was home to 258 soybean farming businesses as of December 2024, making that region the leading producer of soybeans in Canada. Quebec and Manitoba were also major producers of soybeans in Canada at that time, with 204 and 78 establishments, respectively.

The Census of Agriculture, produced by the United States Department of Agriculture (USDA), provides a complete count of America's farms, ranches and the people who grow our food. The census is conducted every five years, most recently in 2022, and provides an in-depth look at the agricultural industry.This layer was produced from data obtained from the USDA National Agriculture Statistics Service (NASS) Large Datasets download page. The data were transformed and prepared for publishing using the Pivot Table geoprocessing tool in ArcGIS Pro and joined to county boundaries. The county boundaries are 2022 vintage and come from Living Atlas ACS 2022 feature layers.Dataset SummaryPhenomenon Mapped: 2022 Soybean ProductionCoordinate System: Web Mercator Auxiliary SphereExtent: 48 Contiguous United States, Alaska, and HawaiiSource: USDA National Agricultural Statistics ServicePublication Date: 2022AttributesNote that some values are suppressed as "Withheld to avoid disclosing data for individual operations", "Not applicable", or "Less than half the rounding unit". These have been coded in the data as -999, -888, and -777 respectively.Soybeans - Acres HarvestedSoybeans - Operations With Area Harvested - Area Harvested: (1.0 To 24.9 Acres)Soybeans - Operations With Area Harvested - Area Harvested: (25.0 To 99.9 Acres)Soybeans - Operations With Area Harvested - Area Harvested: (100 To 249 Acres)Soybeans - Operations With Area Harvested - Area Harvested: (250 To 499 Acres)Soybeans - Operations With Area Harvested - Area Harvested: (500 To 999 Acres)Soybeans - Operations With Area Harvested - Area Harvested: (1,000 Or More Acres)Soybeans - Operations With Area HarvestedSoybeans - Operations With SalesSoybeans - Production, Measured In BushelsSoybeans - Sales, Measured In US DollarsSoybeans, Irrigated - Acres HarvestedSoybeans, Irrigated - Operations With Area Harvested In Alaska, one or more county-equivalent entities (borough, census area, city, municipality) are included in an agriculture census area.

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. .

High Oleic Soybean Market Outlook

The global high oleic soybean market size was valued at approximately USD 1.2 billion in 2023 and is projected to reach around USD 2.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 9.7%. The substantial growth of this market can be attributed to the increasing demand for healthier cooking oils and the growing awareness of the benefits associated with high oleic soybean oil. Additionally, advancements in agricultural biotechnology and the rising trend of organic farming are further driving the market expansion.

One of the primary growth factors for the high oleic soybean market is the rising consumer preference for health-promoting food products. High oleic soybean oil, known for its high monounsaturated fat content and low saturated fat levels, offers various health benefits, including reduced risk of heart disease and improved cholesterol levels. This increasing consumer inclination towards healthier cooking oils is propelling the demand for high oleic soybeans, particularly in the food industry. Moreover, the food manufacturing sector's continuous efforts to develop and market functional foods are further contributing to market growth.

Another significant growth driver for this market is the burgeoning application of high oleic soybean oil in the animal feed industry. The incorporation of high oleic soybean oil in animal feed formulations helps in improving the energy content and nutritional value, leading to better animal health and productivity. As the livestock industry continues to expand globally, the demand for high-quality animal feed is rising, which in turn is fueling the growth of the high oleic soybean market. Furthermore, the shifting focus towards sustainable and environment-friendly agricultural practices is expected to bolster the adoption of high oleic soybeans in the animal feed sector.

Technological advancements in agricultural biotechnology have played a crucial role in the development and commercialization of high oleic soybean varieties. Enhanced genetic modification techniques have enabled the production of soybeans with higher oleic acid content, improved yield, and resistance to pests and diseases. These advancements not only ensure a steady supply of high oleic soybeans but also contribute to increased profit margins for farmers. Additionally, the increasing investments in research and development activities aimed at improving high oleic soybean traits are expected to create lucrative opportunities for market growth.

The role of Soybean Seed in the cultivation of high oleic soybeans cannot be overstated. These seeds are specifically bred to produce soybeans with a higher oleic acid content, which is essential for the production of high oleic soybean oil. The quality of the soybean seed directly impacts the yield and quality of the crop, making it a critical factor in the success of high oleic soybean farming. Farmers are increasingly opting for high-quality soybean seeds that promise better resistance to pests and diseases, as well as improved adaptability to various climatic conditions. This focus on superior soybean seed varieties is driving advancements in agricultural biotechnology, as researchers work to develop seeds that can meet the growing demand for high oleic soybeans globally.

Regionally, North America holds a dominant position in the high oleic soybean market, driven by the presence of a well-established agricultural sector and the growing demand for healthier food products. The United States, being one of the largest producers and consumers of soybeans, significantly contributes to the regional market growth. Europe also represents a significant market share due to the rising awareness of the health benefits of high oleic soybean oil and the increasing focus on sustainable farming practices. Additionally, the Asia Pacific region is anticipated to witness substantial growth during the forecast period, attributed to the expanding food processing industry and the rising adoption of high oleic soybean oil in various applications.

Product Type Analysis

The high oleic soybean market is segmented based on product type into conventional high oleic soybean and organic high oleic soybean. Conventional high oleic soybeans are those that are cultivated using traditional farming methods, often involving the use of synthetic fertil

United States Crop Production: Soybeans for Beans: Area Planted data was reported at 89,557.000 Acre th in 2018. This records a decrease from the previous number of 90,142.000 Acre th for 2017. United States Crop Production: Soybeans for Beans: Area Planted data is updated yearly, averaging 72,718.000 Acre th from Dec 1983 (Median) to 2018, with 36 observations. The data reached an all-time high of 90,142.000 Acre th in 2017 and a record low of 57,795.000 Acre th in 1990. United States Crop Production: Soybeans for Beans: Area Planted data remains active status in CEIC and is reported by National Agricultural Statistics Service. The data is categorized under Global Database’s USA – Table US.B068: Agriculture Crop Production.

According to Cognitive Market Research, the global GMO Soybean market size will be USD XX million in 2024. It will expand at a compound annual growth rate (CAGR) of 15.00% 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 XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD XX million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.4% 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 XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.7% from 2024 to 2031.
The feed segment is the dominant application in the GMO soybean market. Soybeans are a primary source of protein in animal feed, especially for livestock and poultry. With the increasing global demand for meat and dairy products, the need for high-quality animal feed has surged

Market Dynamics of GMO Soybean Market

Key Drivers for GMO Soybean Market

Rising Demand for Sustainable Agriculture to Boost Market Growth

One of the key drivers of the GMO Soybean Market is the growing demand for sustainable agricultural practices. As the global population continues to rise, the need for more efficient food production becomes increasingly critical. GMO soybeans offer higher yields, resistance to pests, and tolerance to environmental stressors like drought, making them a viable solution for feeding a larger population with fewer resources. These advantages help meet the food demands while minimizing the use of pesticides and reducing the overall environmental impact, driving the widespread adoption of GMO soybean cultivation. For instance, 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

Advancements in Biotechnology and Genetic Engineering to Drive Market Growth

Another important driver is the continuous advancements in biotechnology and genetic engineering. These technologies allow for the creation of genetically modified soybean varieties with enhanced characteristics, such as improved nutritional content and better disease resistance. Innovations like CRISPR gene editing are also opening new possibilities for precise modifications, making GMO soybeans more appealing to farmers and producers. With these scientific breakthroughs, the GMO soybean market is expected to expand as they offer solutions to current agricultural challenges and meet consumer preferences for more resilient and nutritious crops.

Restraint Factor for the GMO Soybean Market

Environmental and Health Concerns, will Limit Market Growth

A significant restraint for the GMO Soybean Market is the growing concern regarding the potential long-term environmental and health effects of genetically modified organisms. Critics argue that the widespread use of GMOs could lead to unintended consequences, such as the development of resistant pests or loss of biodiversity. Additionally, there are concerns about the potential for cross-contamination between GMO and non-GMO crops, which may affect organic farming practices and consumer safety. These concerns contribute to public hesitation and resistance toward the widespread adoption of GMO soybeans.

Impact of Covid-19 on the GMO Soybean Market

The COVID-19 pandemic has had a mixed impact on the GMO Soybean Market. On one hand, disruptions in global supply chains and labor shortages affected the production and distribution of agricultural inputs, including seeds for GMO soybeans. This led to delays in planting and harvesting in certain regions. On the other hand, the pandemic highlighted the importance of food security, driving governments and organizations to focus on enhancing agricu...

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 genetically modified (GM) soybean seed market is experiencing robust growth, driven by increasing global demand for high-yield and pest-resistant crops. This market is projected to be valued at $15 billion in 2025, exhibiting a Compound Annual Growth Rate (CAGR) of 7% from 2025 to 2033. This growth is fueled by several factors, including the rising global population and the consequent need for increased food production, the escalating prevalence of crop diseases and pests necessitating pest-resistant seeds, and the growing adoption of precision agriculture techniques. The herbicide-resistant segment currently dominates the market, followed by insect-resistant varieties. However, the "Others" segment, encompassing traits like drought tolerance and improved nutritional content, is anticipated to experience significant growth in the coming years, driven by increasing R&D and consumer demand for sustainable and nutritious food options. Major players like Monsanto, Corteva, Syngenta, and Bayer are actively engaged in developing and commercializing innovative GM soybean seeds, further intensifying competition and driving market expansion. Regional variations exist, with North America and South America (particularly Brazil and Argentina) currently holding the largest market shares due to extensive soybean cultivation. However, the Asia-Pacific region is projected to witness the fastest growth rate due to rising demand and increasing adoption of advanced agricultural practices. The market's growth is not without challenges. Regulatory hurdles and public perception surrounding GM crops remain significant constraints in certain regions. Furthermore, the development of herbicide-resistant weeds poses a threat to the efficacy of herbicide-resistant soybean varieties. However, ongoing research and development efforts focused on developing more sustainable and effective solutions are mitigating these challenges. The continued focus on improving yield, nutritional value, and pest resistance, coupled with supportive government policies in key agricultural regions, positions the GM soybean seed market for sustained growth throughout the forecast period. The increasing adoption of precision agriculture, which includes technologies that maximize yield and resource usage will also positively impact market growth.

In this article, we explore the stages of soybean growth from germination to harvesting. Learn about the importance of each stage and the factors that can impact soybean farming.

Non-GMO Soybean Market Outlook

As of 2023, the global non-GMO soybean market size is estimated to be valued at approximately $19.5 billion, with projections indicating a significant growth to reach around $33.4 billion by 2032. This expansion reflects a compound annual growth rate (CAGR) of 6.2% over the forecast period. The market's growth is primarily driven by increasing consumer awareness and preference for non-GMO products, reflecting a shift towards healthier and more sustainable agricultural practices. Non-GMO soybeans, which are not genetically modified to resist pesticides or herbicides, are increasingly favored for their perceived health benefits and reduced environmental impact.

One of the primary growth factors for the non-GMO soybean market is the rising consumer demand for organic and natural food products. As consumers become more health-conscious, there is a growing inclination towards products that are perceived to be free from genetic modifications. This trend is bolstered by heightened public awareness regarding the potential health risks associated with GMO consumption, including allergies and antibiotic resistance. Furthermore, the organic food industry has been witnessing robust growth, contributing significantly to the demand for non-GMO soybeans, which are a key ingredient in many organic products.

The regulatory landscape also plays a crucial role in the market's expansion. Many countries have stringent labeling requirements and policies favoring non-GMO agricultural practices, which in turn stimulate demand. For instance, the European Union has some of the strictest regulations concerning GMO labeling, which has led to increased imports of non-GMO soybeans. Additionally, certifications such as Non-GMO Project Verified are becoming more prevalent, providing consumers with assurance and driving market growth. Moreover, these regulations are not only limited to food but also extend to animal feed, ensuring that livestock is fed non-GMO products, which further supports market expansion.

Environmental concerns and sustainable farming practices are also key factors influencing the non-GMO soybean market. The cultivation of non-GMO soybeans is often associated with lower chemical input, which aligns with environmentally sustainable agriculture practices. This shift is driven by both consumer demand and environmental policies aimed at reducing the ecological footprint of farming activities. Non-GMO soybeans contribute to biodiversity preservation and reduced dependency on chemical herbicides and pesticides, making them a preferred choice for environmentally conscious consumers and producers alike.

Regionally, the market's growth is bolstered by significant demand from North America and Europe, driven by heightened consumer awareness and regulatory support for non-GMO products. In Asia Pacific, particularly in countries like China and India, the demand for non-GMO soybeans is steadily increasing due to growing health consciousness and expanding vegetarian and vegan populations. Latin America and the Middle East & Africa are also witnessing a gradual rise in demand, although the growth rate is comparatively slower than in developed regions. The favorable climatic conditions in Latin America, particularly in Brazil and Argentina, facilitate the large-scale production of non-GMO soybeans, thereby supporting regional supply.

Product Type Analysis

In the non-GMO soybean market, product type segmentation plays a pivotal role in shaping the dynamics and understanding the demand patterns. The primary product types include food-grade soybeans, feed-grade soybeans, and others, each fulfilling distinct roles across various industries. Food-grade soybeans are primarily used in the production of soy-based food products such as tofu, soy milk, and edamame, which are staples in many vegetarian and vegan diets. The rising trend of plant-based diets is significantly propelling the demand for food-grade soybeans, as consumers seek out these alternatives for dietary and ethical reasons.

Feed-grade soybeans, on the other hand, are crucial in the animal husbandry sector. They are predominantly used in livestock feed due to their high protein content, which is essential for animal growth and health. As the global demand for meat and dairy products continues to rise, so does the need for quality livestock feed. This drives the feed-grade soybean market, as more farmers and livestock producers opt for non-GMO feed to meet consumer preferences for non-GMO animal products. The assurance of non-GMO feed plays an important role in the marketing of meat and

The Soybean Meal Market size was valued at USD 124.96 billion in 2023 and is projected to reach USD 170.05 billion by 2032, exhibiting a CAGR of 4.5 % during the forecasts period. Soybean meal is by product of soybean oil extraction process and widely used as protein supplement in animal feed for livestock, poultry, pigs, and others. Rising consumption of meat, dairy products and poultry is driving growth for soybean meal as it contains high amount of protein and amino acids. Soybean meal has emerged as important ingredient of animal feed in dairy cattle as it increases conjugated linoleic acid levels in the milk which helps to reduce risk of cancer. Increasing number of consumers as well as animal feed producers are looking for non-genetically modified soybean meal that is free of cholesterol and meets biological requirements of metabolism. Recent developments include: In April 2023, CRC purchased soybeans from farmers in Central Kentucky to process in their soybean facility. The facility can process 330 tons of soybeans daily, producing high-protein soybean meal and valuable feed ingredient soybean hulls. This expansion enables CRC to process almost four million bushels of soybeans annually, producing vegetable oil, soybean meal, and hulls for livestock and poultry feed. CRC’s biodiesel refining division is expected to produce up to five million gallons per year. , In March 2022, Perdue AgriBusiness would invest USD 59.1 million to expand its soybean crushing facility in Chesapeake, Virginia. This expansion will increase the production of soybean oil, soybean meal, and hulls. The company currently purchases 80% of Virginia’s soybeans and exports 72 million tons of soybeans annually. The expansion will improve processing capabilities and support local farmers. Perdue AgriBusiness is a subsidiary of Perdue Farms Inc., a large grain company with operations worldwide. , In January 2021, The United Soybean Board partnered with DuPont Nutrition & Biosciences and Soylent for a pilot program to identify sustainably grown soy products. They will use a new label called the Sustainably Grown U.S. Soy mark, ensuring the soy comes from responsible farms. The goal is to improve sustainability in supply chains and offer the mark to other companies. .

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.