The soybeans feed market in Saudi Arabia has shown significant fluctuation over the past decade, highlighted by a substantial increase from 2014 to 2015. The market then faced a steep decline in subsequent years until 2018, where the trend shifted towards a period of moderate growth. In 2023, the actual value stood at 101 thousand metric tons, marking a 3.06% year-on-year increase. Over the last five years, the market exhibited an average annual growth rate (CAGR) of 4.51%. Looking forward, forecasted data suggest a steady increase, with an anticipated CAGR of 1.87% over the next five years, reaching 113 thousand metric tons by 2028.
Future trends to monitor:
- Global trade policies affecting soybean imports
- Technological advancements in feed efficiency
- Domestic agricultural policies and incentives
- Shifts in livestock industry demand
