The demand for soybeans in Italy has shown a consistent upward trend from 2014 to 2023, growing from 1.87 million metric tons to 2.88 million metric tons. The demand increase from 2022 to 2023 was 2.02%. This steady growth is reflected in the average annual growth rate (CAGR) over the last five years, which stood at 1.7% as of 2023.
From 2014 to 2023, there were significant year-on-year variations, including a peak increase of 19.05% in 2016. In the most recent years of 2020 to 2023, the demand growth moderated, highlighting a stable yet slower growth trend compared to earlier years.
Looking ahead, the forecasted CAGR from 2024 to 2028 is 1.41%, indicating a continued, albeit slightly decelerated, growth in demand. Key future trends to monitor include:
- Sustainable agricultural practices and their influence on soybean production and import levels.
- Changes in dietary preferences influencing soybean product demand.
- Innovations in soybean-based products and their market penetration in Italy.
