In 2023, the soybeans market size volume in India was recorded at approximately 573.0 thousand metric tons. By 2024, forecasts suggest a growth to 594.0 thousand metric tons, indicating a year-on-year increase of 3.7%. From 2024 to 2025, the market is expected to grow by 4.4%, followed by a 4.2% rise from 2025 to 2026. The subsequent growth rates are 4.0% for 2026 to 2027, and 3.7% for 2027 to 2028. The average compound annual growth rate (CAGR) for this period is projected to be approximately 4.0%, reflecting a stable upward trend.
Future trends to watch for include:
- Potential impacts of climate change on soybean production and yield.
- Shifts in domestic policy regarding agricultural subsidies and export incentives.
- Increasing consumption of plant-based proteins potentially driving demand.
- Technological advancements in farming practices which might affect productivity.
