The forecast for soybean demand in the US shows a steady upward trend from 2024 to 2028. In 2024, the demand is expected to reach 64.0 million metric tons. Year-on-year growth is modest, with incremental annual increases such as 0.59% from 2024 to 2025, and 0.58% from 2025 to 2026. The projected compound annual growth rate (CAGR) for this five-year period is approximately 0.56%. In comparison to 2023, when the demand stood at 63.5 million metric tons, there is a clear and consistent increase.
Future trends to watch for include:
- Impact of global market changes and trade policies on US soybean exports.
- Advancements in agricultural technology that may influence production efficiency and yield.
- Developments in plant-based foods and biofuels sectors driving demand.
- Environmental regulations affecting farming practices and crop decisions.
