The soybean market is set to witness a volume growth of more than 135MT with spend momentum accelerate at a CAGR of over 6% between 2019-2024. An exponentially increasing demand for biofuel will drive demand for soybean which is used as one of the essential ingredients in the production of this fuel type. Consumer’s penchant towards gluten-free foods is driving buyers from the F&B industry to adopt soy flour as an alternative to wheat flour and launch new products. This will drive spend momentum in the global soybean market.
Top Spending Regions in the Soybean Market
APAC will be the largest contributor to volume growth in the soybean market as this region is home to some of the largest soybean-consuming countries.
APAC
Countries like Japan, China, and India account for a high degree of consumption of soybean products. China is home to one of the fastest growing soy beverages market which will result in the soybean market thrive in this region.
North America
The boost in the production of biofuels will be one of the primary volume growth drivers in the soybean market in North America. Consumers in the US are exhibiting a high demand for a range of soybean products such as soy milk and soybean flour owing to a rise in the vegan population and demand for gluten-free products. This will drive spend momentum in the soybean market in the region.
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What are the Key Price Trends in this Market?
Soybean suppliers will experience a significant rise in their CAPEX and OPEX owing to the adoption of advanced cultivation methods, such as drones for pesticide spraying and advanced irrigation systems. According to the soybean price trends, this will have a consequent impact on the purchasing price in the soybean market.
The growing shortage of labor in regions such as North America, Europe, and APAC will significantly contribute to soybean suppliers’ OPEX. This will increase the market price of this product during the forecast period.
Volume-based pricing is the most widely adopted pricing model in the global soybean market as it optimizes the costs and risks of the buyer against volatility in the market prices of soybean. This is because the buyer can fix the price during the contract tenure.
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Insights Offered in this Soybean Market Report
Global and regional spend potential for the soybean market for the period of 2019-2024
Supplier relationship management practices in the soybean market
Supplier margins and selection criteria in the soybean market
Top soybean suppliers and their cost structures
Top soybean suppliers in the US and their cost structures
Soybean market spend analysis in the US
Soybean price trends, and forecasts
Cost drivers influencing the soybean prices
