In 2023, Brazil emerged as the dominant player in global soybean distribution with a significant share, reflecting a solid 5.08% year-on-year growth. China closely followed with a 4.97% increase. Conversely, the United States and Argentina experienced declines of 1.93% and 3.66%, respectively. South Africa exhibited remarkable growth at 11.27%, while significant increases were noted for Algeria (19.16%) and Morocco (28.99%). However, countries like Pakistan and Venezuela reported declines. The Compound Annual Growth Rate (CAGR) over the last five years highlights Brazil, Russia, and developments in smaller markets like Uzbekistan and Zimbabwe as key areas of growth.
Looking ahead, several trends are poised to shape global soybean distribution. The growing demand from Asian countries, notably Vietnam and Thailand, coupled with production innovations in Brazil, may sustain upward trajectories. The United States and Argentina need to navigate challenges to maintain their positions. Additionally, climate change impacts and geopolitical factors could influence future distribution dynamics, suggesting that stakeholders should closely monitor these elements.
Top countries in Soybean Distribution Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Brazil | 29.54 | 2023 | +6% | +5.08% | View data |
| 2 | 2 China | 23.15 | 2023 | +2.6% | +4.97% | View data |
| 3 | 3 United States | 18.08 | 2023 | -3.1% | -1.93% | View data |
| 4 | 4 Argentina | 10.64 | 2023 | +22.34% | -3.66% | View data |
| 5 | 5 India | 1.96 | 2023 | -10.44% | +2.65% | View data |
| 6 | 6 Paraguay | 1.54 | 2023 | +11.31% | +2.59% | View data |
| 7 | 7 Russia | 1.2 | 2023 | -0.74% | +5.09% | View data |
| 8 | 8 Canada | 1.18 | 2023 | +5.02% | -3.22% | View data |
| 9 | 9 Mexico | 1.02 | 2023 | -2.07% | +0.42% | View data |
| 10 | 10 Ukraine | 0.81 | 2023 | +6.98% | +2.01% | View data |
