Soybean Seed Market

Global Soybean Seeds Market Size (2024 to 2029)

The global soybean seeds market size is expected to reach USD 11.07 billion in 2024 and reach USD 15.09 billion by 2029, growing at a CAGR of 6.38% from 2024 to 2029.

CURRENT SCENARIO OF THE GLOBAL SOYBEAN SEEDS MARKET

Pythium, Phytophthora, Fusarium, Phomopsis, and Rhizoctonia are the foremost common pathogens that reduce soybean germination and emergence. Bean chrysomelids and thrips affect the soybean crops within the youth of the crops. Root-knot nematodes also affect soybean crop growth. Development policies and plans are discussed furthermore as manufacturing processes and value structures are analyzed.

Soybeans Seed's marketing research report presents the analysis of every segment from 2018 to 2027, considering 2018 as the base year for the research. The compounded Annual rate of growth (CAGR) for every respective segment is calculated for the forecast period from 2020 to 2027. Global soybeans seed market size and forecast were obtained by using "Bottom-up" and "Top-down" approaches. Extensive secondary research was conducted to know the market insights and trends, followed by primary interviews to further validate the data sourced. The report provides both qualitative and quantitative analyses of the market, the competitive landscape, and, therefore, the preferred development strategies of key players, which helps to formulate competitive market strategies and make informed decisions.

The soybean, also called a leguminous plant or soya bean, is an annual legume of the rosid dicot family (Fabaceae) and its seed.

The soybean is economically the foremost important bean in the world, providing vegetable protein for several people and ingredients for many chemical products. An ancient crop, the soybean, has been cultivated in China, Japan, and Korea for hundreds of years as a diet and a component of medicines. Soybeans were introduced in the US in 1804 and have become particularly important within the south and midwest within the mid-20th century. Brazil and Argentina also are major producers. Soybeans are usually harvested mechanically after the leaves have fallen off the plant, and therefore the moisture content of the seed has dropped to 13 percent, permitting safe storage. Like other legumes, the plant adds nitrogen to the soil utilizing nitrogen-fixing bacteria and historically has been a crucial soil-enriching crop, though this practice isn't common in most industrial agriculture systems.

MARKET DRIVERS:

Soybean could be a commodity that will be used as food, feed in addition and fuel. The bulk of soybean is employed as feed for poultry also as agriculture, whereas it also finds application in various food preparations. Recently, the usage of soyabean oil as a biofuel has increased the demand for soybeans, and hence, its multilateral usage and significance have led to a substantial increase in demand for the soybean seeds market. Modern research has led to interesting types of uses for the soybean. Industrially, the oil extracted from the soybean seeds is employed as an ingredient in paints, adhesives, fertilizers, sizing for cloth, linoleum backing, and fire-extinguisher fluids, among other products. The aforementioned factors are likely to propel the growth rate of the soybean seeds market to an extent.

MARKET RESTRAINTS:

However, lack of awareness is slowly restraining the growth rate of the soybeans seeds market. The rising cost for maintenance is degrading the demand of the market. Changing climatic conditions is degrading the growth rate of the market. 

COVID-19 impact on the soybean seeds market:

COVID-19 was declared a pandemic by the World Health Organization in March 2020. The novel coronavirus has spread to almost every country where there are lockdown restrictions across the world in the first half of 2020. The lockdown restrictions have disrupted the supply chain and manufacturing units. Due to restrictions on movement, the production rate also decreased during this time. This has affected the growth rate of the market in a negative way. But with the unlock guidelines in the last months of 2020, the market shares started growing at a faster rate. It is expected that the soybean seeds market shares to fall into a normal state by 2021.

REPORT COVERAGE

REGIONAL ANALYSIS

North America leads the global soybean market in terms of production. The region accounts for around 34% of the global output. Increasing disposable income and rising demand for quality products are boosting the growth rate of the soybean market in North America. Following North America, Asia Pacific is holding prominent shares of the market. The rising prevalence of cultivating soybeans with the increasing demand from various fields is escalating the growth rate of the soybean seeds market. Along with this, the increasing economy is accelerating the growth rate of the market tremendously. Europe is expected to have the highest CAGR in the near future owing to increasing investments from the government authorities. Also, rising per capita income is accelerating the demand for the soybean seeds market. Along with this, the growing prominence of soybean seeds in healthcare, as these are widely used in different treatment procedures, is promoting the demand of the market. 

KEY PLAYERS IN THE GLOBAL SOYBEAN MARKET

Monsanto, DowDuPont, Syngenta, Bayer, BASF SE, Advanced Biological Marketing Inc, Adama Agricultural Solutions Ltd, Marrone Bio-Innovations, Brettyoung Limited. some of the market players dominate the global soybean market.

DETAILED SEGMENTATION OF THE GLOBAL SOYBEAN MARKET INCLUDED IN THIS REPORT

This research report on the global soybean market is segmented and sub-segmented based on Type, Trait, Seed Treatment, and Region.

By Type

• GM (Genetically Modified)
• And Non-GM.

By Trait

• Herbicide-Tolerant
• Insecticide-Resistant
• Many Others

By Seed Treatment

• Treated
• And Non-Treated.

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa