Soybean Meal Market Analysis
The Soybean Meal Market size is estimated at USD 111.72 billion in 2025, and is expected to reach USD 139.22 billion by 2030, at a CAGR of 4.5% during the forecast period (2025-2030).
- Soybeans are vital for both animal and human nutrition. During processing, soybeans yield oil and pulp. The USDA reports that over 85% of the world's soybeans are crushed for meal and oil, with only 15% consumed directly. Soybean meal is widely used, especially in poultry and cattle feed. Its high digestibility makes it valuable for balancing animal rations and addressing amino acid deficits. While primarily used as animal feed for its protein content, the oil extracted from soybeans is mainly for cooking and biodiesel. Together, soybeans and their derivatives are among the top traded agricultural commodities, accounting for over 10% of the global agricultural trade value in 2021, as per the USDA. Given its crucial role as a protein source in the global feed industry, soybean meal is a strategically traded raw material year-round.
- Recently, global demand for soybean meal has surged. Regions like North America and Asia-Pacific, with growing populations of farm and pet animals, are increasing their soybean meal consumption and production. This trend not only offers lucrative opportunities for soybean meal manufacturers but also strengthens the overall market. The International Grain Council (IGC) notes that global soybean production jumped from 357 million metric tons in 2021-2022 to 390 million metric tons in 2023-2024, an increase of 10 million metric tons. The council anticipates production will reach 413 million metric tons by the end of 2024-2025. This growth is primarily fueled by the rising demand for high-quality protein in soybeans, especially from the animal feed sector.
Soybean Meal Market Trends
Growing Soybean Production
- Soybeans serve as a vital protein source for both humans and animals. According to the USDA, soybean oil constituted over 40% of the total feedstocks utilized for biodiesel production in the 2022-23 period. Primarily, soybeans are cultivated for their oil and protein content, making them the dominant source of edible oil globally, representing approximately 50% of the world's total oilseed production. The nutritional significance of soybeans is underscored by the fact that they can fulfill one-third of the global population's protein needs. Their meal extraction capacity is notable. For example, the FAO reports that one ton of crude soybean oil yields about 4.5 metric tons of soybean oil meal, boasting a protein content of roughly 44%.
- Driven by its rising global importance, soybean production surged to 395.1 million metric tons in 2023, up from 372.8 million metric tons in 2021, as per USDA data. This upward trajectory in production signals a promising future for the soybean meal market, given the anticipated bulk availability. In 2023, USDA data highlighted that China, the United States, Brazil, and Argentina dominated soybean meal production, holding 30%, 19%, 16%, and 11% of the global market share, respectively. Such trends further amplify the global market for soybean meal.
Understand The Key Trends Shaping This Market
Download PDF
Asia-Pacific Dominates The Market
- The Asia-Pacific region leads the soybean meal market, with dominant players including China, India, Bangladesh, Thailand, Pakistan, and Japan. According to USDA data, in 2023, China topped the production charts with 78.41 million metric tons of soybean meal, followed by India at 9.04 million metric tons. The primary consumer of soybean meal in this region is the animal feed industry. However, soybean meal's versatility shines through its diverse applications, spanning bakery products, health foods, cosmetics, and even antibiotic production. While shifts in the livestock and poultry sectors have led to a moderate rise in soybean meal (SBM) consumption, feed production has remained resilient, continuing its robust trend from late 2021 into 2022.
- China's growing demand for protein meals heavily leans on imported beans for domestic processing. For instance, ITC Trade data indicates that in 2023, China imported a staggering 100 million metric tons of soybeans. This approach not only addresses its immediate needs but also solidifies China's position as the world's top soybean meal producer. Within the Asia-Pacific, sectors such as poultry, swine, and aquaculture are the primary users of soybean meal. In poultry, it's the main protein source for chickens. The swine industry utilizes it for both grower and finisher pigs. Furthermore, its crucial role in fish and shrimp farming, especially in nations like China, Indonesia, and Vietnam, underscores its lasting importance in the years ahead.
Get Analysis on Important Geographic Markets
Download PDF
Soybean Meal Market News
- March 2024: In North America, ADM has rolled out a resource initiative in partnership with around 5,300 farmers managing over 4.6 million acres. Leveraging cutting-edge technologies like the FBN Gradable digital platform, and melding them with ADM's deep-rooted expertise in origination and transportation, the initiative aims to enhance functional food traceability. The primary objective is to verify, trace, and segregate soybeans from the farm all the way to their end destination, strengthening traceability throughout the supply chain.
- March 2023: Corteva Agriscience and agribusiness giant Bunge have embarked on a multi-year partnership. Together, they seek to elevate the nutritional quality of soybean meal, customizing it for the animal feed sector. This initiative spans poultry, swine, and aqua feed, all achieved through the creation of specialized commercial soybean varieties.
Soybean Meal Industry Segmentation
Soybean meal, a byproduct of oil extraction from soybeans, comes in two primary forms, high-protein soybean meal, derived from dehulled seeds, boasts 47% - 49% protein and 3% fiber, while conventional soybean meal, containing hulls, has 43% - 44% protein. The soybean meal market is segmented by application (animal feed, food industry, beverage, and healthcare products) and geography (North America, South America, Europe, Asia-Pacific, Middle-East, and Africa). The report provides market size and forecasts, expressed in USD, for all the mentioned segments.
| Application | Animal Feed | ||
| Food Industry | |||
| Beverage | |||
| Healthcare Products | |||
| Geography (Production Analysis (Volume), Consumption Analysis (Value and Volume), Import Analysis (Value and Volume), Export Analysis (Value and Volume), and Price Trend Analysis) | North America | United States | |
| Canada | |||
| Mexico | |||
| Europe | Spain | ||
| Croatia | |||
| France | |||
| Germany | |||
| Russia | |||
| Asia-Pacific | India | ||
| China | |||
| Bangladesh | |||
| South America | Brazil | ||
| Argentina | |||
| Uruguay | |||
| Middle-East and Africa | South Africa | ||
| Egypt | |||
Need A Different Region or Segment?
Customize Now
Soybean Meal Market Research Faqs
How big is the Soybean Meal Market?
The Soybean Meal Market size is expected to reach USD 111.72 billion in 2025 and grow at a CAGR of 4.5% to reach USD 139.22 billion by 2030.
What is the current Soybean Meal Market size?
In 2025, the Soybean Meal Market size is expected to reach USD 111.72 billion.
Which is the fastest growing region in Soybean Meal Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Soybean Meal Market?
In 2025, the Asia Pacific accounts for the largest market share in Soybean Meal Market.
What years does this Soybean Meal Market cover, and what was the market size in 2024?
In 2024, the Soybean Meal Market size was estimated at USD 106.69 billion. The report covers the Soybean Meal Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Soybean Meal Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Our Best Selling Reports
Soybean Meal Industry Report
The global soybean meal market is on a trajectory of substantial growth, driven by its pivotal role in the food industry and as a vital component in animal feed. Its rich amino acids profile, despite a deficiency in cystine and methionine, underscores its importance in enhancing milk production and weight gain among various livestock. The shift towards organic products and methods, particularly noted in regions like Australia, Asia, and Latin America, is contributing significantly to market expansion. Additionally, the market is diversified into organic and conventional segments with broad applications spanning the food, animal feed industries, and emerging pharmaceutical uses, showcasing its versatility. The online sales channel's rapid growth due to its convenience and accessibility is further propelling market dynamics. With Asia-Pacific at the forefront, led by production and consumption giants such as China and India, the market's expansion is bolstered by technological advancements in soybean processing and an increasing consumer awareness of soybean meal's health advantages. Insights from soybean meal analysis by Mordor Intelligence™ Industry Reports project a promising future for this market, underpinned by continuous innovation and expansion. Get a sample of this industry analysis as a free report PDF download.
