Soybean Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Soybean Market Report is Segmented by Geography Into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The Report Includes the Production Analysis (Volume), Consumption Analysis (Value and Volume), Export Analysis (Value and Volume), Import Analysis (Value and Volume), and Price Trend Analysis. The Report Offers Market Estimation and Forecasts in Value(USD) and Volume(metric Tons) for all the Above Segments.

Soybean Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Soybean Market Size

Soybean Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Market Size (2025) USD 212.36 Billion
Market Size (2030) USD 300.64 Billion
CAGR (2025 - 2030) 7.20 %
Fastest Growing Market North America
Largest Market South America

Compare market size and growth of Soybean Market with other markets in Agriculture Industry

Seeds

Crop Protection

Fertilizers

Agricultural Commodities

Agriculture Services

Agricultural Machinery and Technology

Soybean Market Analysis

The Soybean Market size is estimated at USD 212.36 billion in 2025, and is expected to reach USD 300.64 billion by 2030, at a CAGR of 7.2% during the forecast period (2025-2030).

Soybeans, renowned for their rich plant-based protein content, also boast a variety of beneficial plant compounds. While Asian cuisines often feature whole soybeans, Western nations predominantly utilize heavily processed soy products. The range of soy offerings includes soy flour, soy protein, tofu, soy milk, soy sauce, and soybean oil. Packed with antioxidants and phytonutrients, soybeans are linked to numerous health benefits. Regular consumption of soy products may help women lower their osteoporosis risk, combat obesity, reduce the likelihood of Type 2 diabetes, enhance blood circulation, and alleviate sleep disorders. Over recent years, soybean production has seen a notable uptick. This surge in production, coupled with an expanded harvested area, is poised to propel the global market. As reported by FAO, global soybean production rose from 355.8 million metric tons in 2020 to 372.8 million metric tons in 2021.

Beyond their nutritional benefits, soybeans serve multiple purposes: oil extraction, culinary applications, and animal feed. In kitchens, they're favored as salad condiments and in various cooking methods. Valued for being low in cholesterol and fat, soybeans are a sought-after protein-rich substitute. Moreover, they provide an excellent dairy alternative for those with lactose intolerance. The US National Library of Medicine highlights that about 65% of humans lose their lactose digestion ability post-infancy, underscoring the significance of soybeans in such diets. This versatility is a key driver of the global soybean market.

Globally, the United States, Brazil, Argentina, Canada, Paraguay, and Uruguay dominate soybean production and export, collectively representing over 85% of the world's output. Historically, the U.S. led as the primary producer and exporter. However, Brazil, benefiting from optimal soil quality, favorable weather, and ample water, has surged ahead, making South America the epicenter of global soybean production. The rising adoption of veganism in Western nations, fueled by the growing preference for plant-based proteins, is energizing the soybean market. Additionally, heightened health consciousness among consumers, driven by improved living standards, has further bolstered the market's growth.    

  

Soybean Market News

  • April 2023: China has increased the planting areas for soybeans and edible oil crops by 10 million mu (equivalent to 666,667 hectares). This move, as reported by the Ministry of Agriculture and Rural Affairs, aims to bolster grain production, secure supplies, and enhance self-sufficiency.
  • November 2022: The World Bank Board of Directors greenlit a grant agreement worth USD 24.58 million. This funding aims to implement Sustainable Land Management (SLM) practices in Brazil. The initiative focuses on boosting agricultural productivity in the soybean and beef cattle value chains. The overarching goals are to rejuvenate extensive degraded pasturelands and simultaneously curtail greenhouse gas emissions.
  • August 2022: In 2022, North Dakota Soybean Processors (NDSP), a collaboration between CGB Enterprises Inc. (CGB) and Minnesota Soybean Processors (MnSP), expanded its new facility. This facility is set to process 42.5 million bushels of soybeans, yielding soybean oil, meal, and hulls.

Soybean Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Increased Demand for the Byproducts of Soybean
    • 4.2.2 Growing Livestock Market
    • 4.2.3 Rising Government Initiatives
  • 4.3 Market Restraints
    • 4.3.1 Unfavorable Climatic Conditions
    • 4.3.2 High Price Volatility
  • 4.4 Value Chain/Supply Chain Analysis

5. MARKET SEGMENTATION (Production Analysis, Consumption Analysis by Value and Volume, Import Analysis by Value and Volume, Export Analysis by Value and Volume and Price Trend Analysis)

  • 5.1 Geography
    • 5.1.1 North America
    • 5.1.1.1 United States
    • 5.1.1.2 Canada
    • 5.1.1.3 Mexico
    • 5.1.2 Europe
    • 5.1.2.1 Russia
    • 5.1.2.2 Italy
    • 5.1.2.3 Ukraine
    • 5.1.2.4 Spain
    • 5.1.3 Asia-Pacific
    • 5.1.3.1 China
    • 5.1.3.2 India
    • 5.1.3.3 Japan
    • 5.1.3.4 Australia
    • 5.1.4 South America
    • 5.1.4.1 Brazil
    • 5.1.4.2 Argentina
    • 5.1.4.3 Paraguay
    • 5.1.5 Middle East & Africa
    • 5.1.5.1 South Africa
    • 5.1.5.2 Egypt
    • 5.1.5.3 Saudi Arabia

6. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Soybean Industry Segmentation

Soybean is a leguminous vegetable crop grown in tropical and subtropical climates. It is one of the most valuable crops globally, not only as an oilseed crop, feed for livestock and aquaculture but also as a good source of protein in the human diet and as a biofuel. For the report purpose, soybean, whether or not broken (HS Code 1201), is considered for the analysis. The soybean market is segmented by geography into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The report includes the Production Analysis (Volume), Consumption Analysis (Value and Volume), Export Analysis (Value and Volume), Import Analysis (Value and Volume), and Price Trend Analysis. The report offers market estimation and forecasts in value (USD) and volume (metric tons) for all the above segments.

Geography North America United States
Canada
Mexico
Europe Russia
Italy
Ukraine
Spain
Asia-Pacific China
India
Japan
Australia
South America Brazil
Argentina
Paraguay
Middle East & Africa South Africa
Egypt
Saudi Arabia
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Soybean Market Research FAQs

How big is the Soybean Market?

The Soybean Market size is expected to reach USD 212.36 billion in 2025 and grow at a CAGR of 7.20% to reach USD 300.64 billion by 2030.

What is the current Soybean Market size?

In 2025, the Soybean Market size is expected to reach USD 212.36 billion.

Which is the fastest growing region in Soybean Market?

North America is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Soybean Market?

In 2025, the South America accounts for the largest market share in Soybean Market.

What years does this Soybean Market cover, and what was the market size in 2024?

In 2024, the Soybean Market size was estimated at USD 197.07 billion. The report covers the Soybean Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Soybean Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Soybean Industry Report

The global soybean market thrives, marked by its varied applications across sectors. Known for its nutritional benefits and versatility, it's pivotal in the food industry, meeting the surge in plant-based diet preference and vegan, vegetarian lifestyles. Soybeans are a mainstay in plant-based nutrition, essential in products like tofu, soy milk, and as meat substitutes, propelled by health-conscious individuals. Beyond food, their role in animal feed is crucial, boosting livestock health with high protein content. The soybean oil's significance in the biofuel sector underscores its dual utility, contributing to sustainability and the move to renewable energy. The rising demand for by-products like meal and oil cakes highlights its economic value. As a key global agricultural commodity, with North and South America and Asia as top producers, the soybean's influence spans cultivation, processing, and trade. For comprehensive market insights including the soybean forecast, access the industry analysis and a free report PDF download from Mordor Intelligence™ Industry Reports. Get a sample of this industry analysis as a free report PDF download.

Soybean Market Report Snapshots