Soybean Market Is Likely To Up Demand At A USD 258.12 Billion By 2030\

 The global soybean market size was estimated at USD 193.10 billion in 2023 and is projected to reach USD 258.12 billion by 2030, growing at a CAGR of 4.4% from 2024 to 2030. Soybeans are known for their health benefits, including being a good source of protein, fiber, vitamins, and minerals. The rising consumer awareness of these benefits drives demand, particularly for products like soy milk, tofu, and protein supplements. Moreover, there's a growing trend towards vegetarian and vegan diets, and a general increase in the consumption of plant-based proteins among omnivores. Soybean, versatile and high-protein legumes, is vital component of many plant-based diets. The industry has experienced significant growth, driven by nutritional, environmental, economic, and market factors. Soybeans have become increasingly popular due to their high protein content and associated health benefits, including their role in reducing the risk of heart disease and certain cancers. It makes them particularly appealing to vegetarians, vegans, and health-conscious consumers. Additionally, soybeans are processed into products like tofu, soy milk, and meat substitutes, catering to diverse dietary preferences and the growing trend toward plant-based diets.

Environmental considerations also play a crucial role in the market's expansion. Soybeans are perceived as a more sustainable and environmentally friendly protein source than animal-based proteins, requiring less land and water and producing a lower carbon footprint. This aspect aligns with the increasing global awareness and concern for environmental sustainability.

In 2022, the global trade of "Soya beans, whether or not broken" surpassed USD 93 billion. Brazil stood out as the leading exporter, contributing 50% of the global soybean exports. China emerged as a  major leading importer, accounting for 70% of the total global imports of this commodity. Key export routes included shipments from Argentina and Brazil to China and from the United States to nations such as China, Egypt, Germany, Japan, and Mexico. Soybeans constituted a significant portion of the total export earnings for countries like Uruguay, Brazil, Paraguay, Togo, Argentina, Bolivia, and Ukraine.

Economically, the market benefits from its use in various industries. Soybeans' demand as a key ingredient in animal feed continues to support the livestock and poultry industries. Furthermore, the importance of soybean oil in biofuel production has grown, positioning soybeans as a critical crop in renewable energy strategies.

What is Organic Soybean ?

Organic soyabean is a naturally grown soybean produced without chemical fertilizers, synthetic pesticides, or GM seeds, using sustainable organic farming practices for safe and eco-friendly food production.

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Recent Developments

• 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.

Key Companies & Market Share Insights

• Willmar International Limited, ADM, and The Scoular Company are some of the dominant players operating in the market.
• Willmar International Limited is known for its involvement in trading and distribution of various agricultural and commodity products.
• ADM has a global presence with significant operations in various regions, including North America, Europe, Asia Pacific, and Middle East & Africa.
• Louis Dreyfus Company andBunge Limited are some emerging market players in the market.
• Louis Dreyfus Company has a global presence with significant operations in various regions, including North America, Europe, Asia Pacific, and the Middle East & Africa.

Key Soybean Companies:

• Clarkson Grain Company
• Willmar International Limited
• SLC Agrícola
• Glencore
• ADM
• The Scoular Company
• Cargill, Incorporated
• Bunge Limited
• Louis Dreyfus Company.
• Kohinoor Feeds & Fats Pvt. Ltd.
• Ag Processing, Inc.