In 2023, China continued to lead global soybean meal distribution with over 23,000 metric tons, followed by the United States and Brazil. Notably, China, Brazil, and Vietnam showed increasing shares. In contrast, Argentina and Iran experienced significant declines. The last five-year CAGR indicates consistent growth in Indonesia, Ecuador, and Saudi Arabia, emphasizing Asia and Middle East markets' increasing prominence.
Future trends suggest potential shifts, as emerging markets like Iraq, Yemen, and Zimbabwe exhibited double-digit growth, pointing towards heightened demand. Sustainable agricultural practices and geopolitical shifts are critical factors influencing soybean meal distribution dynamics.
Top countries in Soybean Meal Distribution Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 23.16 | 2023 | +3.86% | +2.85% | View data |
| 2 | 2 United States | 14.75 | 2023 | +3.16% | +1.95% | View data |
| 3 | 3 Brazil | 13.72 | 2023 | +3.47% | +4.58% | View data |
| 4 | 4 Argentina | 8.63 | 2023 | +10.44% | -3.48% | View data |
| 5 | 5 India | 2.33 | 2023 | -9.47% | -0.15% | View data |
| 6 | 6 Mexico | 2.16 | 2023 | +3.32% | +1.14% | View data |
| 7 | 7 Vietnam | 2.11 | 2023 | +6.19% | +1.43% | View data |
| 8 | 8 Indonesia | 1.75 | 2023 | +2.06% | +4.62% | View data |
| 9 | 9 Thailand | 1.53 | 2023 | +4.13% | +2.35% | View data |
| 10 | 10 Russia | 1.45 | 2023 | +6.17% | +3.33% | View data |
