
World - Soya Beans - Market Analysis, Forecast, Size, Trends and Insights
Global Soya Bean Market 2023
Soya Bean Market Size
In 2021, the global soya bean market increased by 13% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Global consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.
Soya Bean Production
In value terms, soya bean production declined to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 21% against the previous year. Global production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.
The countries with the highest volumes of production in 2021 were Brazil (X tons), the United States (X tons) and Argentina (X tons), with a combined 79% share of global production. China, India, Paraguay and Canada lagged somewhat behind, together comprising a further 14%.
From 2012 to 2021, the biggest increases were in Paraguay (with a CAGR of +9.4%), while production for the other global leaders experienced more modest paces of growth.
In 2021, the global average yield of soya beans reduced to X tons per ha, approximately equating 2020. The yield figure increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the yield increased by 9.2%. Over the period under review, the average soya bean yield attained the maximum level at X tons per ha in 2017; however, from 2018 to 2021, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2021, the global soya bean harvested area dropped modestly to X ha, which is down by -2.1% compared with the previous year. The harvested area increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 6% against the previous year. The global harvested area peaked at X ha in 2020, and then fell in the following year.
Soya Bean Exports
Exports
In 2021, shipments abroad of soya beans decreased by -6.6% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +68.4% against 2012 indices. The pace of growth was the most pronounced in 2015 when exports increased by 20%. Over the period under review, the global exports hit record highs at X tons in 2020, and then dropped in the following year.
In value terms, soya bean exports soared to $X in 2021. The total export value increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
Exports by Country
Brazil represented the major exporter of soya beans in the world, with the volume of exports recording X tons, which was approx. 53% of total exports in 2021. It was distantly followed by the United States (X tons), constituting a 33% share of total exports. The following exporters - Paraguay (X tons), Canada (X tons) and Argentina (X tons) - together made up 9.4% of total exports.
From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Paraguay (with a CAGR of +12.4%), while the other global leaders experienced more modest paces of growth.
In value terms, the largest soya bean supplying countries worldwide were Brazil ($X), the United States ($X) and Paraguay ($X), together comprising 89% of global exports.
Brazil, with a CAGR of +9.4%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Export Prices by Country
The average soya bean export price stood at $X per ton in 2021, surging by 30% against the previous year. In general, the export price, however, showed a slight setback. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.
Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Canada ($X per ton) and Argentina ($X per ton), while Brazil ($X per ton) and Paraguay ($X per ton) were amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+0.1%), while the other global leaders experienced a decline in the export price figures.
Soya Bean Imports
Imports
Global soya bean imports stood at X tons in 2021, with an increase of 2.1% on the year before. Over the period under review, total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +75.3% against 2012 indices. The most prominent rate of growth was recorded in 2017 with an increase of 19%. Over the period under review, global imports hit record highs in 2021 and are expected to retain growth in the near future.
In value terms, soya bean imports surged to $X in 2021. The total import value increased at an average annual rate of +5.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
Imports by Country
China prevails in imports structure, recording X tons, which was near 57% of total imports in 2021. It was distantly followed by Egypt (X tons), achieving a 6.8% share of total imports. Argentina (X tons), the Netherlands (X tons), Thailand (X tons), Spain (X tons), Germany (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) took a relatively small share of total imports.
Imports into China increased at an average annual rate of +5.7% from 2012 to 2021. At the same time, Argentina (+143.4%), Egypt (+23.2%), Thailand (+7.3%), the Netherlands (+4.5%), Japan (+2.0%), Taiwan (Chinese) (+1.3%) and Spain (+1.1%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in the world, with a CAGR of +143.4% from 2012-2021. Germany experienced a relatively flat trend pattern. While the share of Egypt (+5 p.p.) and Argentina (+2.9 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of China (-3.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, China ($X) constitutes the largest market for imported soya beans worldwide, comprising 59% of global imports. The second position in the ranking was taken by Argentina ($X), with a 2.9% share of global imports. It was followed by Thailand, with a 2.5% share.
From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +4.8%. The remaining importing countries recorded the following average annual rates of imports growth: Argentina (+111.8% per year) and Thailand (+6.5% per year).
Import Prices by Country
In 2021, the average soya bean import price amounted to $X per ton, rising by 31% against the previous year. In general, the import price, however, saw a mild curtailment. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Japan ($X per ton), while Egypt ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (-0.4%), while the other global leaders experienced a decline in the import price figures.
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
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.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
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