Soybean Meal Market Displays Substantial Momentum, Expects 5.7% Revenue Growth by 2029

The global soybean meal market is expected to sustain robust growth, rising from US$ 131.89 billion in 2024 to US$ 246.73 billion by 2035, driven by a compound annual growth rate (CAGR) of 5.7%.

The report titled “Global Soybean Meal Market” is segmented by: By Raw Material (Organic and Inorganic), By Process of Production (Normal Soya Bean Meal, De-Hulled Hipro Soya Bean Meal, Defatted Soya Flour Toasted, and Defatted Soya Flake Toasted), By Application (Food Industry, Beverage, Dietary Supplements, and Health Care Products), By Distribution Channel (Supermarket, Specialized Stores, Online Stores, and Retail Stores), and Region, Market Forecast, 2025–2035 gives a detailed insight into current market dynamics and provides analysis on future market growth.

The soybean meal market is experiencing consistent expansion due to its extensive application as a high-protein feed additive in the livestock and poultry sector. Increased demand for animal protein globally, especially in emerging markets, has strongly contributed to improving the demand for quality animal feed and thus the consumption of soybean meal. Its high amino acid content &ease of digestion make it an ideal option for escalating the productivity & well-being of livestock. In addition, soybean meal is used as a key component in aquaculture feed products, expanding market growth further. The soybean meal market opportunities are arising with innovations in processing technology that increase nutrient accessibility and minimize anti-nutritional factors. The rising trend towards plant-based diets can also present new opportunities for non-feed uses like in food items, animal feeding stuffs, and bio-based industrial materials. In addition, improving awareness of sustainable and traceable production in agriculture offers opportunities for premium, certified soybean meal products. These synergistic factors set the soybean meal market up for long-term continued growth in both the feed and non-feed markets.

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Key Highlights of the Market

• By production process, the normal soya bean meal segment dominates the market. Normal soya bean meal provides the base for the animal feed sector in the world. Normal soybean meal is a common commodity produced from crushed soybeans after oil removal and normally has a protein content of approximately 44-46%. 
• By distribution channel, the supermarket segment accounts for the 39.6% share in 2024. Supermarkets act as first-point purchases for many types of consumers, ranging from those purchasing small quantities for individual use or smaller farmers. 
• The online stores segment is the most rapidly growing in the market. The segment has seen the most accelerated growth as a result of the growing penetration of e-commerce, particularly boosted by recent world changes in consumer buying trends. 
• By Application, the animal feed accounted for 61.8% share in the market in 2024. This is due to soybean meal's status as a leading protein source for animals, including swine, poultry, and aquaculture. 
• The bio-based products is most rapidly expanding segment in the soybean meal market. This rapid growth stems from mounting research and development into new applications for soybean meal beyond traditional feed, taking advantage of its renewable protein and fiber content.

Regional Insights

The Asia-Pacific region has the highest market share in the soybean meal market and is expected to grow at a CAGR of 5.1%. This is mainly attributed to the fast-growing aquaculture and livestock industry of the region, especially China, India, and the nations of Southeast Asia. Growing population numbers and burgeoning disposable incomes have encouraged greater demand for meat and seafood, driving up demand for high-protein animal feed like soybean meal directly. China, especially, is particularly noted to be an important consumer and importer, maintaining its huge swine and poultry sectors. North America is foreseen to witness the highest growth in the soybean meal market, with a 38.33% market share in 2024. A major growth driver is the fast-paced development of the U.S. renewable diesel market, which is fuelling strong growth in soybean crushing for oil and creating a massive quantity of soybean meal as a by-product. Furthermore, the region has well-established feed manufacturing technologies and an advanced export infrastructure.

Key players in the global soybean meal market include Mahesh Agro Food Industries, Louis Dreyfus Company B.V., Bunge Limited, Mamta Hygiene Products Pvt. Ltd., Nordic Soya Ltd., Mukwano Industries Uganda Ltd., Gujarat Ambuja Exports Limited, AdamPolSoya, Wudi Deda Agriculture Co. Ltd., Agrocorp International Pte Ltd, Shafer Commodities Inc., Denofa AS, Kohinoor Feeds and Fats Ltd., Minnesota Soybean Processors, Granol Indústria Comércio e Exportação S/A, DHN International, Gauri Agrotech Products Pvt. Ltd., The Scoular Company, CHS Inc., and Kemin Industries, Inc.

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