World - Soya Beans - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSoybean Production in the U.S. and Brazil to Expand Robustly Driven by Rising Demand from China
IndexBox has just published a new report: 'World - Soya Beans - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
The currently increasing demand for soybeans in biofuel production, animal feed and food products outpaced production growth, resulting in a significant hike in soya prices. Together with expectations of further price growth, it contributes to rising costs of many downstream products and accelerates food inflation. In China, rebuilding pig herds after swine fever outbreaks emerges as a new driver for the global market. Those factors highlight soybeans as an attractive commodity to invest in, leading to robust expansion of crop acreage in the U.S. and Brazil.
Key Trends and Insights
Global soybean consumption increased steadily over 2020-2021, while soybean stocks worldwide have seen rapid depletion. The escalating demand in China, which accounts for 60% of the growth in the soybean trade worldwide, is currently the key driving force of the global soybean market. China is significantly rebuilding its livestock population following outbreaks of African swine fever, and the demand for soybean has surged, as soya is a key additive ingredient to livestock feed.
The expected recovery in demand for biofuel as the global economy emerges from the pandemic also shapes further expansion of the raw soybean market. The high soybean prices may yet curb the biofuel market's growth rate, removing the soybean fuel as a viable competitor in terms of conventional types of fuel.
The fear that the demand for soybeans will soon exceed supply, combined with the rising production costs, contributes to prices increases. The average soybean price (Rotterdam CIF, US origin) in 2020 stood at $380 per ton; then, in the first half of 2021, prices soared to $544 per ton. This hike should lead to higher prices for meat, animal feed and biofuel.
The high prices for animal proteins are further enhancing the development of the market for alternative soybean foods. In 2020, global investment into the alternative protein industry saw a twofold increase against the previous year. China is forecast to record the most significant rise in the consumption of soybean meal in animal feed, and soybean-derived protein concentrates for general food products.
The promising outlook for the soybean market is attracting investment in a bid to expand potential crop acreage. In 2021, global soybean production is set to increase by 23М tons to reach 386М tons due to the increase in the land being harnessed for crop production in the U.S. and South America, particularly Brazil. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.3% from 2020 to 2030, which is projected to bring the market volume to 489M tons by the end of 2030 (IndexBox estimates).
Soybean Consumption by Country
The global soybean market value fell slightly to $150.9B in 2020, stabilizing at the previous year's level. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price).
China (132M tons) constituted the country with the largest volume of soybean consumption, comprising approx. 37% of total volume. Moreover, soybean consumption in China exceeded the figures recorded by the second-largest consumer, Argentina (48M tons), threefold. Brazil (46M tons) ranked third in terms of total consumption with a 13% share.
In China, soybean consumption expanded at an average annual rate of +5.8% over 2012-2020. The remaining consuming countries recorded the following average annual rates of consumption growth: Argentina (+4.4% per year) and Brazil (+4.0% per year).
In value terms, China ($54B) led the market alone. The second position in the ranking was occupied by Argentina ($19.9B). It was followed by Brazil.
In 2020, the highest levels of soybean per capita consumption were registered in Argentina (1,059 kg per person), followed by Brazil (214 kg per person), the U.S. (105 kg per person) and China (90 kg per person), while the world average per capita consumption was estimated at 45 kg per person.
Soybean Exports by Country
Brazil (75M tons) and the U.S. (65M tons) prevails in soybean exports, together constituting 85% of the total volume. It was distantly followed by Argentina (7.7M tons), making up a 4.7% share of total exports. The following exporters - Paraguay (5M tons) and Canada (4.4M tons) - each finished a 5.8% share of total exports.
From 2012 to 2020, the most notable growth rate in terms of shipments amongst the key exporting countries was attained by Brazil, while exports for the other global leaders experienced more modest paces of growth.
In value terms, Brazil ($29B), the U.S. ($25.9B) and Argentina ($3.1B) were the countries with the highest levels of exports in 2020, together accounting for 90% of global exports.
The average soybean export price stood at $395 per ton in 2020, approximately mirroring the previous year. Average prices varied somewhat amongst the major exporting countries. In 2020, major exporting countries recorded the following prices: in Canada ($437 per ton) and Argentina ($407 per ton), while Paraguay ($323 per ton) and Brazil ($387 per ton) were amongst the lowest.
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This report provides an in-depth analysis of the global soya bean market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 236 - Soybeans
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Company coverage:
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
- HARVESTED AREA AND YIELD BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
