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  • How big is the soybean seed market?
  • 5. CONVENIENCE The Soybean Seed Market size is estimated at USD 10.41 billion in 2024, and is expected to reach USD 15.05 billion by 2030, growing at a CAGR of 6.34% during the forecast period (2024-2030).
  • Which country produces the fastest growing soybean seed market?
  • Europe has the fastest-growing soybean seed market owing to an increase in the cultivation area due to the high demand for oilseeds from the food and feed industry to produce soymilk, soy cake, and soy yogurt and an increase in domestic consumption. South America is one of the largest producers of soybean in the world.
  • Which region dominated the global soybean seed market in 2021?
  • In 2021, Asia-Pacific occupied 26.5% of the global soybean seed market value because soybean is one of the major oilseed crops cultivated in the region with the high adoption of commercial seeds.
  • Which countries export oilseeds?
  • For other oilseeds, the internationally traded share of global production traded remains much lower at about 13% of world production as the two largest producers, China and the European Union, are net-importers. The main exporters are Canada, Australia, and Ukraine, which are projected to account for more than 69% of world exports by 2030.
  • What is the outlook for soybean production?
  • Soybean production is projected to increase by 1.1% p.a. during the outlook period. The expansion of harvested area, including increased double-cropping in Latin America, accounts for about a quarter of global output growth.
  • What is the global demand for vegetable oil?
  • Global demand for vegetable oil is projected to expand by 33 Mt by 2030, with food use accounting for 68% of total demand. Soybean meal dominates the protein meal sector.