In 2023, Japan led the consumption of soybean meal for food with 50.68 thousand metric tons, followed by India at 35.9, Vietnam at 17.49, Mexico at 5.86, and South Korea at 2.97. The previous two years showed negligible year-on-year variance, indicating stable demand. Over the past five years, a consistent, though modest, compound annual growth rate hints at a steady uptake in these markets, primarily driven by dietary preferences and economic factors.
Looking forward to 2030, expect increased demand due to plant-based dietary trends, particularly in India and Vietnam. Monitoring dietary policy shifts and economic growth in these regions provides crucial insights for stakeholders.
Top countries in Soybean Meal for Food Consumption, Forecast 2021-2030 Share by Country (Thousand Metric Tons)
| # | 5 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Japan | 50.68 | 2030 | View data |
| 2 | 2 India | 35.9 | 2030 | View data |
| 3 | 3 Vietnam | 17.49 | 2030 | View data |
| 4 | 4 Mexico | 5.86 | 2030 | View data |
| 5 | 5 South Korea | 2.97 | 2030 | View data |
