The soybean consumption at the farm gate in India is projected to increase moderately from 2024 to 2028. In 2023, the consumption stood at 29.00 million metric tons. Year-on-year growth rates from 2024 to 2028 indicate a steady upward trend with around a 1% increase per year. This reflects a compound annual growth rate (CAGR) of approximately 0.97% over the five-year period, demonstrating sustained demand for soybeans in the agricultural sector.
Future Trends to Watch For:
- Potential impact of technological advancements in agriculture on productivity and consumption patterns.
- Influence of policy changes related to agricultural subsidies and trade agreements.
- Changes in consumer preferences towards plant-based products could further enhance soybean demand.
