In 2023, Argentina led in soybean consumption for feed, seed, and industrial usage with 26.56 thousand metric tons, followed by China at 17.38, and the United States at 13.47. Argentina's lead underscores its pivotal role in global soybean supply chains.
Throughout 2024 and beyond, countries like Brazil and China are projected to experience moderate growth in soybean consumption driven by the expansion of livestock industries and industrial applications. Additionally, the Asia-Pacific region, including Thailand, Vietnam, and India, will contribute to rising demand.
Future trends to watch include China's efforts to stabilize domestic soybean markets, sustainable production practices across all major regions, and innovations in industrial applications of soybeans.
Top countries in Soybean for Feed, Seed and Industrial Usage Consumption, Forecast 2021-2030 Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Argentina | 26.56 | 2030 | View data |
| 2 | 2 China | 17.38 | 2030 | View data |
| 3 | 3 United States | 13.47 | 2030 | View data |
| 4 | 4 Brazil | 10.79 | 2030 | View data |
| 5 | 5 Thailand | 3.54 | 2030 | View data |
| 6 | 6 Canada | 3.16 | 2030 | View data |
| 7 | 7 India | 3.06 | 2030 | View data |
| 8 | 8 Russia | 2.34 | 2030 | View data |
| 9 | 9 Indonesia | 0.73 | 2030 | View data |
| 10 | 10 Vietnam | 0.71 | 2030 | View data |
