Soybean Market Size, Share, Growth, And Industry Analysis, By Type (Conventional and Organic), By Application (Residential Use, Commercial Use, Others (Food and Beverages, Personal Care, Pharmaceuticals, Animal Feed, Other), Regional Insights and Forecast From 2025 To 2034

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SOYBEAN MARKET OVERVIEW

The global soybean market size in 2025 is estimated to be USD 154.78 billion, with projections to grow to USD 240.56 billion by 2034 at a CAGR of 5.02% during the forecast period from 2025 to 2034.

The United States Soybean market size is projected at USD 51.46 billion in 2025, the Europe Soybean market size is projected at USD 37.70 billion in 2025, and the China Soybean market size is projected at USD 43.68 billion in 2025.

The soybean (Glycine max) is a type of legume native to East Asia that is commonly produced for its edible bean, which has a variety of uses. Soy milk, from which tofu and tofu skin are formed, is a traditional unfermented dietary usage of soybeans. Soy sauce, fermented bean paste, natto, and tempeh are examples of fermented soy foods. Soybean meal, which is fat-free (defatted), is a substantial and inexpensive source of protein for animal feeds and many packaged meals.

Soybean derivatives, such as textured vegetable protein (TVP), are used in various meat and dairy alternatives. Soybeans have high levels of phytic acid, nutritional minerals, and B vitamins. Another byproduct of soybean crop processing is soy vegetable oil, which is used in food and industrial uses. Soybeans are the most important protein source for agricultural animals, which produces animal protein for human use.

KEY FINDINGS

COVID-19 IMPACT

Pandemic Led to A Decline in the Market Growth

The COVID-19 pandemic has been unprecedented and staggering, with the coaxial agitators markets market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels.

Several commercial operations were affected due to the COVID-19 pandemic and global lockdown protocols. Furthermore, COVID-19 hampered people's capacity to mobilize for work, particularly farmers. As a result, people's incomes and purchasing power have decreased. Rising food costs cause food insecurity and a rise in the number of undernourished people. The soybean business would expand due to the increased demand for soy products following the epidemic.

The confrontation between Russia and Ukraine also caused enormous casualties and property damage. The agriculture industry has suffered, and the supply chain has been disrupted. The conflict had a severe impact on the business and agricultural sectors. As a result, soy products and soybean oils suffered considerable price increases worldwide. With consumer demand at an all-time high and insufficient production and supply infrastructure, the import and export of soybean feed has recently experienced a significant issue.

LATEST TRENDS

Agreement Toward Sustainable Land Management to Increase Agricultural Productivity

In 2022, the World Bank Board of Directors approved a USD 24.58 million grant agreement to implement a Sustainable Land Management (SLM) program in Brazil that increases agricultural productivity for the soybean and beef cattle value chains, allowing large areas of degraded pastures to be recovered while reducing greenhouse gas emissions.

• According to the U.S. Department of Agriculture (USDA), U.S. soybean exports reached 52.9 million metric tons in 2023, driven by increased demand from China and the EU.

• As per the Brazilian Ministry of Agriculture (MAPA), over 44 million hectares of land were under soybean cultivation in Brazil in the 2022–23 crop year, marking a significant expansion from the previous year.

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SOYBEAN MARKET SEGMENTATION

By Type

By Type, the market is fragmented into conventional and organic.

By Application

By Application, the market is bifurcated into food and beverages, personal care, pharmaceuticals, animal feed, and others.

DRIVING FACTORS

Rising Disposable Income of Consumers to Amply Market Growth

Demand for soybean byproducts such as soybean meal and oil cakes has surged recently. The items' great nutritional content increased their appeal among consumers, which is expanding the market. Consumers' greater disposable income in industrialized countries and improved soybean output in these countries boosted demand for soybean byproducts.

Rising Animal Feed Consumption to Boost Market Growth

The need for animal protein expanded in rapidly developing countries such as China, as did the demand for high-protein animal feedstuffs such as soybean meal. Because long-term growth rates outpace gains in yield per land unit, there is an increasing demand for soybean production. As a result, soybean meal is utilized as animal feed and for human consumption. The health benefits of protein-enriched foods and the growing quantity of livestock, cattle, ruminants, and other animals on the global market are driving up demand for them.

• The Indian Ministry of Agriculture reported that soybean seed distribution under National Food Security Mission supported over 1.2 million hectares of soybean cultivation in India during the 2023 Kharif season.

• According to the World Trade Organization (WTO), more than 70% of global soybean demand comes from animal feed production, especially in poultry and pig farming, fueling consistent international trade flows.

RESTRAINING FACTOR

Lack of Regulatory Standards of the Product to Be a Major Restraint

One of the key challenges inhibiting the growth of the soybean meal sector is a lack of regulatory standards. This trend is considerably more widespread in countries where frameworks based on scientific risk have been established to oversee national food safety regulations.

• As per the Food and Agriculture Organization (FAO), climate-related yield losses affected up to 18% of soybean crops globally in 2023, with South America experiencing severe droughts.

• According to the U.S. Environmental Protection Agency (EPA), soybean farming is responsible for 15.2 million metric tons of CO₂-equivalent emissions annually, increasing pressure on sustainable farming practices and regulations.

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SOYBEAN MARKET REGIONAL INSIGHTS

Asia Pacific to Dominate the Market Owing to the Product's High Nutrition Aspect

Owing to its vast population, emerging economies where more and more people are selecting nutritious food, and the rising awareness of the high protein content of soybean, Asia Pacific is likely to account for the major share of demand in the coming years. The animal feed sector and nutraceutical are also fueling the soybean market growth in the region's market.

KEY INDUSTRY PLAYERS

Market Players to Employ Tactics In Order to Amplify Market Position

Key market players in the soybean market share are entering into strategic partnerships and collaborations to expand their product portfolios, enhance their market presence, and cater to a broader customer base. Companies are focusing on continuous product innovation to meet evolving customer demands. Customization options, such as design, fixtures, and materials, provide a competitive advantage in the market. Market players are expanding their geographical presence through acquisitions, mergers, and establishing manufacturing facilities in new regions. This enables them to cater to the increasing demand for prefabricated bathroom pods across different markets.

• Cargill: According to company logistics data, Cargill handled over 24 million metric tons of soybeans globally in 2023 through its supply chain, including crushing, exporting, and processing operations.

• ConAgra: As per its 2023 sustainability report, ConAgra sourced over 700,000 metric tons of soybeans for food-grade applications, primarily for soy flour, protein isolates, and cooking oils across North America.

List of Top Soybean Companies

• Kerry (Ireland)
• Cargill
• ConAgra 
• Fuji Oil Group (Japan)
• The WhiteWave Foods (U.S.)
• DuPont (U.S.)
• Archer-Daniels-Midland Co. (U.S.)

REPORT COVERAGE

The report's devoted part informs about the modular bathroom pods impact of COVID-19 and its succeeding variant outbreaks on demand, supply, price, vendor uptake, and recommendations for long-term outcomes. The updated study contains insights, analyses, projections, and predictions for the portable electric bike market, considering the COVID-19 impact. The research profiles a report with extensive studies describing the firms in the market affecting the forecasting period. Detailed studies also offer a comprehensive analysis by inspecting factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.