Industry Analysis & Industry Trends
The Soybean Farming industry experienced strong growth over the five years to 2015, mainly due to the crop's status as a major input for biofuel. The Renewable Fuels Regulations of 2010 allowed Canada to use soybeans as a renewable energy source to make biodiesel. In the coming years, strengthening overseas competition is anticipated to keep revenue volatile. Still, the future for Canadian soybean farmers remains sunny. Domestic and international government mandates for renewable fuel will keep soybean prices above historical levels over the five-year period... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
Over the five years to 2015, increasing demand from biofuel manufacturers and adoption of genetically modified (GM) seeds revitalized the Soybean Farming industry in Canada. IBISWorld projects that industry value added (IVA), which measures the industry's contribution to the overall economy, is expected to expand at an average annual rate of 5.7% over the 10 years to 2020, much faster than Canadian GDP growth of about 2.2% per year on average. The contrast indicates a growth life cycle stage for the industry.
The Soybean Farming industry's current growth stage is largely a result of the increased biodiesel demand, both domestically and internationally, stimulated by government policies and further encouraged by a persisting hike in crude oil prices... purchase to read more