The demand for soybeans in Vietnam exhibited significant fluctuations from 2014 to 2023, starting at 1.39 million metric tons in 2014 and increasing steadily to 2.0 million metric tons in 2023. During this period, the year-on-year growth varied notably, peaking at 29.36% in 2017 and showing a negative trend of -4.93% in 2018. The compound annual growth rate (CAGR) for the last five years leading up to 2023 was 1.94%, reflecting steady growth. Forecasts suggest continued moderate growth, with a 5-year CAGR of 1.26%, leading to an expected demand of 2.16 million metric tons by 2028.

Future trends to watch for:

Impact of changes in domestic agricultural policies.
Influence of global soybean production and pricing trends.
Shifts in dietary preferences and increased consumption of plant-based proteins.
Technological advancements in soybean farming and processing.