In 2024, Brazil led global soybean distribution with an output of 196.89 million metric tons, growing by 5.08% year-on-year. China follows, showing a similar growth trend at 4.97%. The U.S. and Argentina experienced declines of 1.93% and 3.66% respectively. Countries like South Africa (11.27%) and Morocco (28.99%) saw significant increases, indicating rising market potential. Conversely, Lebanon (-9.79%) and Pakistan (-24.81%) faced notable contractions. The compounded annual growth rate (CAGR) reflects consistent expansion in emerging markets, suggesting a shift in production dynamics.
Future trends highlight potential growth in African and Middle Eastern countries, propelled by increasing investments and technological advancements. Close attention to geopolitical factors and climate change impacts will be crucial for forecasting longer-term shifts in the soybean market.
Top countries in Soybean Distribution by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Brazil | 196,890 | 2023 | +6% | +5.08% | View data |
| 2 | 2 China | 154,290 | 2023 | +2.6% | +4.97% | View data |
| 3 | 3 United States | 120,500 | 2023 | -3.1% | -1.93% | View data |
| 4 | 4 Argentina | 70,910 | 2023 | +22.34% | -3.66% | View data |
| 5 | 5 India | 13,080 | 2023 | -10.44% | +2.65% | View data |
| 6 | 6 Paraguay | 10,280 | 2023 | +11.31% | +2.59% | View data |
| 7 | 7 Russia | 8,010 | 2023 | -0.74% | +5.09% | View data |
| 8 | 8 Canada | 7,850 | 2023 | +5.02% | -3.22% | View data |
| 9 | 9 Mexico | 6,780 | 2023 | -2.07% | +0.42% | View data |
| 10 | 10 Ukraine | 5,420 | 2023 | +6.98% | +2.01% | View data |
