The global soybean domestic consumption in 2023 saw China leading significantly at 120.5 million metric tons, with the United States and Brazil following. China, Brazil, Russia, and Vietnam exhibited notable growth, while Argentina, Indonesia, and Egypt saw declines. Major growth in Algeria and Morocco contrasted with declines in Pakistan, Myanmar, and Cuba. Countries like Uganda, Uzbekistan, Zimbabwe, and UAE showed significant growth rates, albeit from smaller baselines.
In 2024 and beyond, trends to watch include political and economic conditions impacting production and supply, trade agreements or disputes altering consumption patterns, and the shift towards sustainable agricultural practices that could affect soybean demand and utilization.
Top countries in Soybean Domestic Consumption by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 120,500 | 2023 | +3.43% | +3.27% | View data |
| 2 | 2 United States | 66,060 | 2023 | +5.11% | +1.82% | View data |
| 3 | 3 Brazil | 59,700 | 2023 | +5.11% | +5.61% | View data |
| 4 | 4 Argentina | 41,750 | 2023 | +14.17% | -2.53% | View data |
| 5 | 5 India | 11,900 | 2023 | -8.46% | +1.81% | View data |
| 6 | 6 Mexico | 6,560 | 2023 | -2.19% | +1.13% | View data |
| 7 | 7 Russia | 6,510 | 2023 | +8.32% | +4.4% | View data |
| 8 | 8 Japan | 3,710 | 2023 | +1.93% | +0.86% | View data |
| 9 | 9 Paraguay | 3,650 | 2023 | +14.96% | -1.29% | View data |
| 10 | 10 Thailand | 3,640 | 2023 | +13.04% | +2.88% | View data |
