The 2024 global soybeans feed distribution indicates that China continues to dominate with 40.82 thousand metric tons, reflecting a year-on-year growth of 1.28%. Argentina follows with 16.11 thousand metric tons and a notable increase of 3.5%. The United States, however, saw a decline of 0.57% to 6.9 thousand metric tons. Significant growth is observed in developing regions, with Pakistan at 4.26% and Nigeria at 5.19%. Conversely, Brazil's feed share shrank by 2.49% and Ukraine experienced a substantial decline of 26.33%.
Future trends to watch include the continuous demand surge in emerging markets such as India and Vietnam, and potential declines in countries facing geopolitical tensions or economic instability. Moreover, sustainable agricultural practices and shifts towards plant-based or alternative protein sources could reshape the market distribution and demand for soybean feed globally.
Top countries in Soybeans Feed Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 40.82 | 2023 | +0.46% | +1.28% | View data |
| 2 | 2 Argentina | 16.11 | 2023 | +2.49% | +3.5% | View data |
| 3 | 3 United States | 6.9 | 2023 | -6.65% | -0.57% | View data |
| 4 | 4 Mexico | 6.42 | 2023 | +1.53% | +0.78% | View data |
| 5 | 5 Egypt | 3.52 | 2023 | +6.22% | +2.11% | View data |
| 6 | 6 Russia | 2.51 | 2023 | -4.33% | +2.14% | View data |
| 7 | 7 Brazil | 2.2 | 2023 | -8.74% | -2.49% | View data |
| 8 | 8 Vietnam | 1.85 | 2023 | +1.38% | +1.27% | View data |
| 9 | 9 Pakistan | 1.81 | 2023 | +6.44% | +4.26% | View data |
| 10 | 10 Canada | 1.36 | 2023 | +0.62% | +1.76% | View data |
