Dublin, June 26, 2024 (GLOBE NEWSWIRE) -- The "Soybean Market Report by Nature, Form, End User, Regions and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
In a significant forecast that underscores the burgeoning potential of the global agrarian sector, the international soybean market is projected to achieve a valuation of US$ 245.89 billion by 2032. This leap from US$ 165.56 billion in 2023 translates to a compound annual growth rate (CAGR) of 4.49% from 2024 to 2032. Soybeans, essential for their protein and oil content, have become a cornerstone in the dietary and economic patterns worldwide.
The global landscape of soybean production has witnessed considerable shifts with countries such as the United States, Brazil, and Argentina playing pivotal roles. Notably, Brazil has emerged as a leader in production volumes. On the consumption aspect, the expected rise of a new middle class globally necessitates an additional 80 million metric tons of soybeans in the next decade to support the feed, food, and fuel markets. Offering insight into this expanding demand is the role of China, dominating the import markets with a significant 60% control, trailed by the European Union, Mexico, Japan, and Taiwan.
Industry Dynamics
The market dynamics are largely influenced by the increased consumption of meat and dairy, prompting a reciprocal demand for soybeans in animal feed. Moreover, the soy-based food processing industry amplifies the use of soybeans with the production of commodities like soy milk, tofu, and cooking oils. In the biodiesel industry, the inherent advantages of soybeans contribute to its attractability as a biofuel feedstock.
United States Market Scenario
The U.S. retains prominence in the global soybean market both as a producer and exporter, with notable states bolstering production through technological and practice improvements. Domestic supply is also shored up by the rising adoption of plant-based diets and recognition of soy products' health benefits. Developments in the use of soybean oil in biodiesel are further supported by federal initiatives.
Corporate Developments
The marketplace is characterized by strategic moves from leading companies, heralding acquisitions and investments focused on sustainability and innovation. In a recent example, a predominant agribusiness firm expanded its production capacity, in sync with thriving feed, food, and renewable fuel industries.
Segmentation Explored
To offer further granularity, the soybean market is dissected into conventional and organic by nature, and processed and raw by form. It also delineates key end users into the Food & Beverages, Animal-feed, and Other sectors. Geographically, the market breaks down into numerous regional segments covering North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, capturing the nuances and pivotal roles of these diverse territories.
This comprehensive analysis of the global soybean market delineates a forward trajectory and sheds light on operational strategies, economic impact, and future potential, positioning soybeans as an integral commodity in the global agricultural and economic matrix.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 180 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $165.56 Billion |
| Forecasted Market Value (USD) by 2032 | $245.89 Billion |
| Compound Annual Growth Rate | 4.4% |
| Regions Covered | Global |
Companies Featured
- Kerry Group P.C.
- Fuji Oil Co. Ltd.
- House Foods Corporation
- Danone North America
- DuPont de Nemours, Inc.
- CHS Inc.
- Cargill, Inc.
- Scoular
- Archer-Daniels-Midland Co.
For more information about this report visit https://www.researchandmarkets.com/r/d3qy6n
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