Product Code: PM4343
The global Soybean market size is expected to reach USD 232.98 billion by 2032, according to a new study by Polaris Market Research. The report "Soybean Market Share, Size, Trends, Industry Analysis Report, By Type (Conventional, Organic); By Form; By End Use; By Region; Segment Forecast, 2024- 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The soybean market experiences substantial growth, driven by its diverse industrial applications. Soybeans serve as raw materials in various industries, contributing to the production of biodiesel, soy-based plastics, coatings, and other industrial products. The versatility of soybeans as an industrial resource enhances their economic significance, fostering increased demand. This multifaceted application in industrial sectors aligns with sustainability goals, further amplifying the soybean market's role in supporting various industries and driving its overall growth in the global market.
The food and beverages segment is expected to experience significant growth during the forecast period. Soybeans are vital in the food industry and are renowned for their nutritional flexibility. Serving as a primary plant-based protein in tofu and edamame, soybeans extend to dairy alternatives like soy milk. They contribute to meat substitutes, snacks, and baked goods, embodying adaptability. From soy sauce to cooking oil, soybeans enrich diverse culinary offerings, which is essential in crafting nutritious food choices.
Genetically Modified (GM) soybeans have transformed the market, boosting yields, pest resistance, and cost-effective farming. These crops offer higher productivity, reduced costs, and improved quality. Engineered for traits like drought resistance, GM soybeans extend cultivation to diverse environments. Ongoing research fosters agricultural innovation, benefiting biotech companies. GM soybeans enhance global trade competitiveness, meeting the increasing demand for food. However, global acceptance varies, influencing market dynamics and regulatory landscapes.
Precision agriculture and technology are reshaping soybean farming. Through GPS-guided tractors, drones, and IoT devices, farmers optimize planting, irrigation, and harvesting. Data analytics and farm management software provide insights for informed decision-making. Robotics and automation cut labor costs, while biotechnology yields genetically modified soybean varieties. Smart equipment with sensors enables remote monitoring. Climate-resilient solutions and mobile apps empower farmers to address environmental challenges and access real-time information. Blockchain adoption ensures supply chain transparency and quality control, revolutionizing the soybean industry.
Soybean Market Report Highlights
The organic segment is expected to experience significant growth during the forecast period owing to rise in health consciousness, environmental awareness, and nutritional benefits.
In 2023, the processed segment accounted for significant market share owing to its greater demand for soybean meal production, tofu and soy milk, and biofuel production.
In 2023, the animal feed segment held significant revenue share owing to its protein-rich content, growing dairy and livestock industries, and research and innovation.
In 2023, Asia-Pacific accounted for the largest revenue share due to burgeoning population and evolving dietary preferences, particularly towards plant-based proteins.
The market is highly competitive owing to the existence of market players with a global presence, including AG Processing Inc., Archer-Daniels-Midland Co, Bunge Limited, Cargill, Incorporated, Glencore, The Scoular Company, and Willmar International Limited among others.
Polaris Market Research has segmented the Soybean market report based on type, form, end use, and region:
Soybean, Type Outlook (Revenue - USD Billion, 2019 - 2032)
Soybean, Form Channel Outlook (Revenue - USD Billion, 2019 - 2032)
Soybean, End Use Outlook (Revenue - USD Billion, 2019 - 2032)
- Industrial
- Food & Beverages
- Animal Feed
- Others
Soybean, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- UK
- Italy
- Netherlands
- Spain
- Russia
- Asia Pacific
- Japan
- China
- India
- Malaysia
- Indonesia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Soybean Market Insights
- 4.1. Soybean Market - End Use Snapshot
- 4.2. Soybean Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Growing demand for animal feed is projected to spur the product demand
- 4.2.1.2. Rising health consciousness is expected to drive market growth
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Disease and pest outbreaks are likely to impede the market growth
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Soybean Market End Use Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Soybean Market, by Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Soybean Market, by Type, 2019-2032 (USD Billion)
- 5.3. Conventional
- 5.3.1. Global Soybean Market, by Conventional, by Region, 2019-2032 (USD Billion)
- 5.4. Organic
- 5.4.1. Global Soybean Market, by Organic, by Region, 2019-2032 (USD Billion)
6. Global Soybean Market, by Form
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Soybean Market, by Form, 2019-2032 (USD Billion)
- 6.3. Processed
- 6.3.1. Global Soybean Market, by Processed, by Region, 2019-2032 (USD Billion)
- 6.4. Raw
- 6.4.1. Global Soybean Market, by Raw, by Region, 2019-2032 (USD Billion)
7. Global Soybean Market, by End Use
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Soybean Market, by End Use, 2019-2032 (USD Billion)
- 7.3. Industrial
- 7.3.1. Global Soybean Market, by Industrial, By Region, 2019-2032 (USD Billion)
- 7.4. Food & Beverages
- 7.4.1. Global Soybean Market, by Food & Beverages, By Region, 2019-2032 (USD Billion)
- 7.5. Animal Feed
- 7.5.1. Global Soybean Market, by Animal Feed, By Region, 2019-2032 (USD Billion)
- 7.6. Others
- 7.6.1. Global Soybean Market, by Others, By Region, 2019-2032 (USD Billion)
8. Global Soybean Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Soybean Market Assessment, By Geography, 2019-2032 (USD Billion)
- 8.3. Soybean Market - North America
- 8.3.1. North America: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.3.2. North America: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.3.3. North America: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.3.4. Soybean Market - U.S.
- 8.3.4.1. U.S.: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.3.4.2. U.S.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.3.4.3. U.S.: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.3.5. Soybean Market - Canada
- 8.3.5.1. Canada: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.3.5.2. Canada.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.3.5.3. Canada: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.4. Soybean Market - Europe
- 8.4.1. Europe: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.4.2. Europe.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.4.3. Europe: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.4.4. Soybean Market - UK
- 8.4.4.1. UK: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.4.4.2. UK.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.4.4.3. UK: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.4.5. Soybean Market - France
- 8.4.5.1. France: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.4.5.2. France.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.4.5.3. France: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.4.6. Soybean Market - Germany
- 8.4.6.1. Germany: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.4.6.2. Germany.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.4.6.3. Germany: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.4.7. Soybean Market - Italy
- 8.4.7.1. Italy: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.4.7.2. Italy.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.4.7.3. Italy: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.4.8. Soybean Market - Spain
- 8.4.8.1. Spain: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.4.8.2. Spain.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.4.8.3. Spain: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.4.9. Soybean Market - Netherlands
- 8.4.9.1. Netherlands: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.4.9.2. Netherlands.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.4.9.3. Netherlands: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.4.10. Soybean Market - Russia
- 8.4.10.1. Russia: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.4.10.2. Russia.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.4.10.3. Russia: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.5. Soybean Market - Asia Pacific
- 8.5.1. Asia Pacific: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.5.2. Asia Pacific.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.5.3. Asia Pacific: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.5.4. Soybean Market - China
- 8.5.4.1. China: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.5.4.2. China.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.5.4.3. China: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.5.5. Soybean Market - India
- 8.5.5.1. India: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.5.5.2. India.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.5.5.3. India: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.5.6. Soybean Market - Malaysia
- 8.5.6.1. Malaysia: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.5.6.2. Malaysia.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.5.6.3. Malaysia: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.5.7. Soybean Market - Japan
- 8.5.7.1. Japan: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.5.7.2. Japan.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.5.7.3. Japan: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.5.8. Soybean Market - Indonesia
- 8.5.8.1. Indonesia: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.5.8.2. Indonesia.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.5.8.3. Indonesia: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.5.9. Soybean Market - South Korea
- 8.5.9.1. South Korea: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.5.9.2. South Korea.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.5.9.3. South Korea: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.6. Soybean Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.6.2. Middle East & Africa.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.6.3. Middle East & Africa: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.6.4. Soybean Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.6.4.2. Saudi Arabia.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.6.4.3. Saudi Arabia: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.6.5. Soybean Market - UAE
- 8.6.5.1. UAE: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.6.5.2. UAE.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.6.5.3. UAE: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.6.6. Soybean Market - Israel
- 8.6.6.1. Israel: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.6.6.2. Israel.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.6.6.3. Israel: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.6.7. Soybean Market - South Africa
- 8.6.7.1. South Africa: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.6.7.2. South Africa.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.6.7.3. South Africa: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.7. Soybean Market - Latin America
- 8.7.1. Latin America: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.7.2. Latin America.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.7.3. Latin America: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.7.4. Soybean Market - Mexico
- 8.7.4.1. Mexico: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.7.4.2. Mexico.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.7.4.3. Mexico: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.7.5. Soybean Market - Brazil
- 8.7.5.1. Brazil: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.7.5.2. Brazil.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.7.5.3. Brazil: Soybean Market, by Form, 2019-2032 (USD Billion)
- 8.7.6. Soybean Market - Argentina
- 8.7.6.1. Argentina: Soybean Market, by Type, 2019-2032 (USD Billion)
- 8.7.6.2. Argentina.: Soybean Market, by End Use, 2019-2032 (USD Billion)
- 8.7.6.3. Argentina: Soybean Market, by Form, 2019-2032 (USD Billion)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. AG Processing Inc.
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Archer-Daniels-Midland Co
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Bunge Limited
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Cargill, Incorporated
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. CHS Inc.
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Clarkson Grain Company
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. COFCO Corporation
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. Fuji Oil Group
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Glencore
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Noble Group Limited
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
- 10.11. Nordic Soya Oy
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
- 10.12. Olam Agri Holdings Pte Ltd
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development
- 10.13. SLC Agricola
- 10.13.1. Company Overview
- 10.13.2. Financial Performance
- 10.13.3. Product Benchmarking
- 10.13.4. Recent Development
- 10.14. The Scoular Company
- 10.14.1. Company Overview
- 10.14.2. Financial Performance
- 10.14.3. Product Benchmarking
- 10.14.4. Recent Development
- 10.15. Willmar International Limited
- 10.15.1. Company Overview
- 10.15.2. Financial Performance
- 10.15.3. Product Benchmarking
- 10.15.4. Recent Development