Global Soybean Meal Market Trends and Price Drivers in 2024: Supply Dynamics, Feed Applications, and Value-Added Innovations
2025-10-01
Industry Research
This comprehensive analysis explores the evolving supply-demand landscape of the global soybean meal market in 2024, identifying key drivers behind price fluctuations. With a focus on nutritional benefits, processing stability, and feed formulation strategies, this report delivers actionable insights for producers and feed manufacturers. It also highlights emerging opportunities in functional feed additives and organic fertilizer development—enabling resource maximization and value-added transformation across the soybean meal value chain. Industry stakeholders will gain forward-looking perspectives to optimize operations and capture new growth areas.
Global Soybean Meal Market Trends & Key Pricing Drivers in 2024
As global livestock production intensifies and feed efficiency becomes a top priority for animal nutritionists, soybean meal remains the cornerstone of high-protein feed formulations worldwide. In 2024, the market is experiencing dynamic shifts driven by supply chain resilience, regional demand patterns, and innovative value-added applications beyond traditional animal feed.
Nutritional Profile & Processing Best Practices
Soybean meal typically contains 44–48% crude protein, making it one of the most cost-effective protein sources in animal diets. According to the USDA’s 2024 Feed Ingredient Report, over 70% of global soybean meal production is used in poultry and swine feed due to its excellent amino acid profile—particularly lysine and methionine.
| Application Segment |
Avg. Soybean Meal Usage (% of Total Feed) |
Key Benefit |
| Poultry |
62% |
High digestibility, consistent quality |
| Swine |
25% |
Balanced amino acids, supports growth |
| Aquaculture |
10% |
Low anti-nutritional factors, good palatability |
Supply-Demand Dynamics: A Regional Perspective
The U.S., Brazil, and Argentina collectively account for more than 80% of global soybean meal output. However, divergent trends are emerging:
- U.S. producers saw a 5% increase in soybean meal capacity in Q1 2024, primarily due to improved drying technologies that reduce moisture-related spoilage (FAO, 2024).
- China's domestic consumption rose by 7% YoY, fueled by post-pandemic recovery in pig farming and rising aquaculture investments.
- In Europe, regulatory pressure on imported soy has pushed some feed mills to adopt local alternatives—but soybean meal still dominates at 65% usage rate.
Price Volatility: What’s Really Moving the Needle?
The average price of soybean meal in Rotterdam reached $380/ton in March 2024—a 12% increase from the previous year. The primary drivers include:
- Soybean yield forecasts: Brazil’s 2024 harvest was down 8% due to droughts in Parana state, directly impacting meal availability.
- Feed-to-meat conversion ratios: Improved genetics and feeding strategies have increased efficiency, reducing per-unit meal requirements by ~3% annually since 2020.
- Policy changes: China’s import tariffs on U.S. soybeans were temporarily lifted in February 2024, easing short-term price pressure but increasing long-term dependency risks.
From Waste to Value: Innovation in Byproduct Utilization
Beyond feed, forward-thinking manufacturers are exploring new revenue streams through soybean meal derivatives:
- Functional feed additives: Fermented soybean meal shows promise as a prebiotic for gut health in poultry—reducing antibiotic use while improving weight gain.
- Organic fertilizer development: Companies like AgriNova in India are converting spent soybean meal into nitrogen-rich compost, targeting organic farmers seeking sustainable inputs.
Resource maximization isn’t just a buzzword—it’s the next frontier in soybean processing. Whether you're optimizing your current feed formula or building a circular economy model around your co-products, the data points toward smarter utilization and higher margins.
Your Next Move: Unlock Hidden Value Now
If your business is sitting on unused soybean meal inventory—or even if you’re already sourcing it regularly—you’re missing out on opportunities to enhance profitability through innovation. Start with small-scale trials in functional feed blends or partner with agritech firms developing bio-based fertilizers.
Download Our Free Guide: How Top Feed Mills Are Boosting Profit Margins with Soybean Meal Innovations
