In 2023, global soybean meal consumption witnessed notable trends: China leads significantly with 76.75 million metric tons, reflecting a 2.85% increase, followed by the U.S. and Brazil with 1.68% and 3.25% growth, respectively. Consumption in emerging countries like India, Bangladesh, and Ecuador surged with substantial rises of 4.98%, 4.3%, and 8.45% respectively. Conversely, some regions such as Iran and Egypt showed a decline of 1.39% and 1.56%.
Looking ahead, growing middle-class populations and rising demands for animal protein may drive increased soybean meal consumption in developing nations, particularly in Asia and Africa. Meanwhile, efforts to optimize animal diets and focus on sustainable production could influence future demand patterns worldwide.
Top countries in Soybean Meal Domestic Consumption by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 76,750 | 2023 | +3.79% | +2.85% | View data |
| 2 | 2 United States | 35,770 | 2023 | +2.66% | +1.68% | View data |
| 3 | 3 Brazil | 20,700 | 2023 | +1.97% | +3.25% | View data |
| 4 | 4 Mexico | 7,130 | 2023 | +2.52% | +1.47% | View data |
| 5 | 5 India | 7,050 | 2023 | +5.22% | +4.98% | View data |
| 6 | 6 Vietnam | 6,390 | 2023 | +3.31% | +2.03% | View data |
| 7 | 7 Indonesia | 5,630 | 2023 | +0.81% | +3.99% | View data |
| 8 | 8 Thailand | 4,900 | 2023 | +3.16% | +1.95% | View data |
| 9 | 9 Russia | 3,870 | 2023 | +5.89% | +2% | View data |
| 10 | 10 Japan | 3,560 | 2023 | +0.28% | +0.63% | View data |
