The global demand for soybeans shows China as the dominant consumer, followed by the United States and Brazil, reflecting their significant agricultural sectors and processing capacities. In 2023, several countries experienced notable changes, with Pakistan, Lebanon, and Philippines showcasing significant demand growth rates while other countries like Ukraine and North Korea saw declines. Over the past five years, CAGR analysis suggests relatively stable demand with sporadic variability among countries, influenced by economic, climatic, and policy factors.
Future trends to monitor include China's evolving consumption patterns, potential shifts in the United States due to biofuel policies, and emerging demand in India and Southeast Asia due to their growing middle class and increasing consumption of protein-rich foods. Additionally, trade tensions and climate change impacts on production in major exporting countries could also influence demand dynamics globally.
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 118,180 | 2018 | View data | ||
| 2 | 2 United States | 63,610 | 2023 | +0.63% | +0.56% | View data |
| 3 | 3 Brazil | 49,650 | 2023 | +1.02% | +0.85% | View data |
| 4 | 4 Argentina | 47,000 | 2023 | +0.48% | +1.35% | View data |
| 5 | 5 India | 10,200 | 2023 | +0.17% | -0.79% | View data |
| 6 | 6 Mexico | 5,680 | 2023 | +1.52% | +0.78% | View data |
| 7 | 7 Russia | 5,610 | 2023 | +1.24% | +1.57% | View data |
| 8 | 8 Paraguay | 5,100 | 2023 | +0.99% | +0.96% | View data |
| 9 | 9 Egypt | 4,170 | 2023 | +3.68% | +1.15% | View data |
| 10 | 10 Japan | 3,610 | 2023 | +0.75% | +0.82% | View data |
