India leads in global soybean meal domestic food consumption with 450.0 thousand metric tons, showcasing a significant annual growth rate of 14.37% in 2023. Japan follows with 200.0 thousand metric tons and a 4.56% increase. Vietnam's consumption is at 90.0 thousand metric tons, growing by 2.38%. Mexico and South Korea remain static at 50.0 and 25.0 thousand metric tons, respectively. Bangladesh, although lower in volume at 5.0 thousand metric tons, shows a noteworthy increase of 4.56%.
Future trends to watch include:
- Potential increases in India and Japan, driven by growing dietary shifts and food industry demands.
- Vietnam's steady growth reflecting rising protein consumption trends.
- Stability in Mexico and South Korea, possibly signaling market saturation.
- Expansion opportunities in Bangladesh's soybean meal market due to rising urbanization and changing dietary practices.
Top countries in Soybean Meal Domestic Food Consumption by Country
| # | 6 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 India | 450 | 2023 | +5.88% | +14.37% | View data |
| 2 | 2 Japan | 200 | 2023 | 0% | +4.56% | View data |
| 3 | 3 Vietnam | 90 | 2023 | +5.88% | +2.38% | View data |
| 4 | 4 Mexico | 50 | 2023 | 0% | 0% | View data |
| 5 | 5 South Korea | 25 | 2023 | 0% | 0% | View data |
| 6 | 6 Bangladesh | 5 | 2023 | +25% | +4.56% | View data |
