Global Soybean Consumption, Forecast 2021-2030 by Country

The data shows that China leads global soybean consumption with a significant margin, followed by the United States, Argentina, and Brazil in terms of volume in 2023. India, although consuming less, remains a key player due to its large population and growing demands. Other significant players include Mexico, Russia, and Egypt. From 2021 to 2023, consumption trends indicate strong demand, particularly in Asian countries where dietary shifts toward protein-rich foods are prominent. These trends are expected to continue, with China's consumption steadily rising, driven by livestock feed and growing food industry needs.

Future trends to watch include an increase in demand from emerging markets such as India and Southeast Asia, driven by population growth and urbanization. Sustainable practices and alternative protein sources could influence soybean market dynamics. Moreover, geopolitical factors and trade policies may impact major producers and consumers. Market players should consider diversification and sustainable practices to manage potential supply disruptions and environmental concerns.