Soybean Market Forecasts to 2028 – Global Analysis by Product (Whole Soybean, Meal, Oil and Other Products), Application and By Geography
According to Stratistics MRC, the Global Soybean Market is accounted for $163.86 billion in 2020 and is expected to reach $271.19 billion by 2028 growing at a CAGR of 6.5% during the forecast period. Preference for healthy food, increasing awareness of the health benefits of soybean, and high demand for soybean oil are the major factors propelling the market growth. However, environmental concerns are hampering market growth.
The soybean is one of the most important food plants of the world and seems to be growing in importance. It is an annual crop, fairly easy to grow, that produces more protein and oil per unit of land than almost any other crop. It is a versatile food plant that, used in its various forms, is capable of supplying most nutrients. It can substitute for meat and to some extent for milk. It is a crop capable of reducing protein malnutrition.
Based on the application, the food and beverages segment is projected to dominate the market during the forecast period. The expansion of soybean acreage and processing facilities worldwide will boost the production of soybean-based foods.
By geography, the Asia Pacific holds the largest share in the market during the forecast period due to increasing demand for quality food products and supplements, essentially due to a quickly growing population.
Some of the key players profiled in the Soybean Market include Archer-Daniels Midland Co, Bunge Ltd., Cargill Inc, CHS Inc., E.I. du Pont de Nemours & Co., Fuji Oil Group, House Foods Group Inc, Kerry Inc., Louis Dreyfus Co. BV, Nestlé SA, Olam International, The Scoular Company, The WhiteWave Foods Company, and Unilever Group.
Estimated Market Size in 2020:
USD 163.86 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 271.19 billion
Tables, Graphs & Figures
Product, Application and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Whole Soybean
• Other Products
• Industrial Solvents
• Adhesives and Sealants
• Hydraulic Fluids
• Building Materials
• Aqua Feed
• Food and Beverages
• Personal Care
• Dietary Supplements
• Animal Feed
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Soybean Market is majorly driven by the preference for healthy food, increasing awareness of the health benefits of soybean, and high demand for soybean oil.
The food and beverages segment is growing at the highest CAGR due to the expansion of soybean acreage and processing facilities.
South America dominated with a significant market share owing to the increased awareness among farmers pertaining to the cultivation of soybean.
Asia Pacific market is growing at the highest CAGR due to increasing demand for quality food products and supplements.
Key players in Soybean Market include Archer-Daniels Midland Co, Bunge Ltd., Cargill Inc, CHS Inc., E.I. du Pont de Nemours & Co., Fuji Oil Group, House Foods Group Inc, Kerry Inc., Louis Dreyfus Co. BV, Nestlé SA, Olam International, The Scoular Company, The White Wave Foods Company, and Unilever Group.
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