The 2023-2028 World Outlook for Soybean Processing

The 2023-2028 World Outlook for Soybean Processing

This study covers the world outlook for soybean processing across more than 190 countries. For each year reported, estimates are given for the latent demand, or potential industry earnings (P.I.E.), for the country in question (in millions of U.S. dollars), the percent share the country is of the region, and of the globe. These comparative benchmarks allow the reader to quickly gauge a country vis-à-vis others. Using econometric models which project fundamental economic dynamics within each country and across countries, latent demand estimates are created. This report does not discuss the specific players in the market serving the latent demand, nor specific details at the product level. The study also does not consider short-term cyclicalities that might affect realized sales. The study, therefore, is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved.

This study covers soybean processing as defined by the North American Industrial Classification system or NAICS (pronounced "nakes").

The NAICS code for soybean processing is 311222. It is for this definition that aggregate latent demand estimates are derived. Soybean processing is specifically defined as follows:

311222 This U.S. industry comprises establishments engaged in crushing soybeans. Examples of products produced in these establishments are soybean oil, soybean cake and meal, and soybean protein isolates and concentrates.

3112221 Soybean oil

3112224 Soybean cake, meal, and other byproducts

311222M Miscellaneous receipts

311222P Primary products

311222S Secondary products

31122211 Crude soybean oil, degummed

31122212 Soybean oil, all other types

31122241 Soybean cake and meal

31122242 Other soybean products, including isolates and concentrates