The Asia-Pacific soya bean industry is witnessing steady but slow growth, driven by rising demand, evolving trade patterns, and production challenges. Below are the key highlights:
1. Market Growth
The soya bean market is projected to grow at a CAGR of +1.0% in volume and +2.5% in value from 2024 to 2035.
By 2035, market volume is expected to reach 180M tons, with a market value of $112.1B.
2. Consumption Trends
China dominates consumption, accounting for 78% of total volume (125M tons).
India (15M tons) and Thailand (3.8M tons) follow but at significantly lower levels.
Top per capita consumers:
Taiwan: 138 kg/person
China: 88 kg/person
Thailand: 54 kg/person
3. Production Insights
Production slightly declined in 2024 to 35M tons, after peaking at 36M tons in 2023.
China (20M tons) and India (14M tons) remain the largest producers.
The average yield is 1.5 tons per hectare, with a harvested area of 24M hectares.
4. Imports & Trade
Imports rose by 6.7% in 2024 to 126M tons, with China alone importing 105M tons (84% of total imports).
Fastest-growing importers:
Bangladesh: +16.1% CAGR
Thailand: +7.7% CAGR
The average import price dropped to $511 per ton (down 15.6% from 2023).
5. Exports
Exports declined sharply by 38% in 2024 to 128K tons.
China (66K tons, 52% of total exports) remains the largest exporter.
Export prices rose by 6.6% to $865 per ton, with China recording the highest at $1,014 per ton.
The Asia-Pacific soya bean market continues to expand gradually, with China leading in consumption, production, and imports. However, exports are struggling, and falling import prices could impact profitability. Future market dynamics will depend on trade policies, supply chain efficiency, and domestic production growth
