How big is the Soybean Market | Forecast & Growth Analysis 2031

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Code: MTA9171

Publication Date: Sep 2025

What is the size of Soybean Market?

According to 6Wresearch internal database and industry insights, the Soybean Market was valued at USD 165 Billion in 2024 and is expected to reach USD 238 Billion by 2031, growing at a compound annual growth rate of 7% during the forecast period (2025-2031).

There are positive growth opportunities occurring in the market, as soybeans are becoming more accepted for food applications, feed, oil extraction, and other industrial uses. The growing protein diets and plant-based, sustainable product markets are continuing to develop the overall soybean market.

Growth Factors for Soybean Market

Growth opportunities in food, feed, and industrial uses of soybeans appear to be expanding.
Growing demand for soybean oil in food processing and biodiesel manufacturing.
Adoption of soy protein in the health supplement and meat alternatives markets.
Fast-growing livestock industries require a high-quality soy meal for livestock feed.
Growing facilities with new technology to improve soybean yield and growing crop improvements.

Soybean Market Trends

The Soybean Market trends reflect the growing demand for non-GMO and organic soybeans driven by growing consumer awareness of clean-label food products and sustainable food choices. Soybean oil continues to expand in packaged foods, snacks, and cooking. A key trend in the Soybean Market is the rising use of soymeal in animal feed, particularly poultry and aquaculture. Trade patterns and production changes are affecting soy pricing and developments in soy logistics.

Emerging Developments in the Soybean Market

Emerging developments in the Soybean Market include advancements in precision farming, biotechnology, and genetically improved seed varieties that enhance resistance to pests and weather variability. These innovations support higher productivity and a stable supply. Additionally, the market is experiencing rising investment in processing facilities to expand soybean oil refining and soy protein production. Strategic collaborations between food companies and farmers are fostering sustainable supply chains.