Global Soybean Meal Market: Trends, Growth Drivers, and Future Outlook

Introduction

The global soybean meal market was valued at USD 94.1 billion in 2024 and is projected to grow from USD 98.7 billion in 2025 to USD 148.6 billion by 2033, registering a CAGR of 5.2% during the forecast period (2025–2033).

Market Overview

• Market Size (2025): USD 98.7 billion

• Projected Market Size (2033): USD 148.6 billion

• Compound Annual Growth Rate (CAGR): 5.2% (2025–2033)

• Largest Market: Asia-Pacific

• Fastest Growing Market: North America

Key Growth Drivers

1. Rising Demand for High-Protein Animal Feed

The global increase in meat, dairy, and egg consumption is driving the need for protein-rich animal feed. Soybean meal, with its high protein content and essential amino acids, is a preferred choice for livestock, poultry, and aquaculture industries.

2. Expansion in Aquaculture

Aquaculture is one of the fastest-growing sectors in animal protein production. Soybean meal serves as a vital ingredient in fish feed, supporting the industry's growth and contributing to the overall demand for soybean meal.

3. Shift Towards Plant-Based Diets

The growing trend towards plant-based diets is influencing the food industry to seek alternative protein sources. Soybean meal, being plant-derived, aligns with this shift and is increasingly used in plant-based food products.

4. Sustainability and Traceability

There is a rising emphasis on sustainable sourcing and traceability in the supply chain. Certifications like the U.S. Soy Sustainability Assurance Protocol (SSAP) are gaining importance, ensuring that soybean meal production meets environmental and social standards.

Regional Insights

Asia-Pacific

The Asia-Pacific region dominates the global soybean meal market, driven by large-scale livestock farming and aquaculture activities in countries like China and India. The region's growing population and increasing protein consumption contribute to the high demand for soybean meal.

North America

North America is witnessing significant growth in the soybean meal market, fueled by advancements in livestock farming practices and increased production of biofuels. The region's focus on sustainable agriculture practices further supports market expansion.

Europe

Europe is adopting sustainable feed solutions, leading to a steady demand for responsibly sourced soybean meal. The region's stringent regulations on feed quality and safety standards drive the need for certified soybean meal products.

Challenges

• Supply chain constraints due to geopolitical factors and trade policies can impact the global supply of soybean meal, leading to price volatility.

• Environmental concerns such as deforestation and water usage pose challenges to sustainable production.

• Market competition from alternative protein sources like insect meal and synthetic amino acids may affect soybean meal’s market share.

Future Outlook

The global soybean meal market is poised for continued growth, driven by increasing demand for high-protein animal feed, expansion in aquaculture, and the rising popularity of plant-based diets. Manufacturers are focusing on sustainable production practices, traceability, and innovation to meet the evolving needs of the market.