Cool beans: Steady demand from emerging economies will likely keep exports high

The Soybean Farming industry in Canada has performed strongly over the five years to 2019. Overall, the global price of soybeans has declined with global supply increasing and supply gluts in the United States resulting from trade tensions with China putting downward pressure on prices. Global demand for Canadian soybeans has been high in recent years. A weak Canadian dollar for much of the period made domestic products relatively inexpensive to foreign buyers, which stimulated industry export growth. Over the five years to 2024, the industry will contend with several threats. Still, the future for Canadian soybean farmers remains bright...read more.

Industry Statistics & Market Size
Revenue
$4bn
Annual Growth 14-19
5.2%
Forecast Growth 19-24
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Profit
x.x%lock
Employment
7,655
Businesses
8,385
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • A weak Canadian dollar made domestic products relatively inexpensive to foreign buyers, which stimulated export growth
  • Revenue growth has been driven by higher demand from Asian markets
  • Employment is expected to grow as the number of farms increases

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    Industry Report - Industry Products Chapter

    Soybeans are used to make a diverse range of products, including tofu, cooking oil, soy milk, flour and livestock meals, along with soaps, cosmetics, resins and other items. Soybean crops are processed using a method called crushing, which results in two products: the solid protein referred to as soybean meal and liquid soybean oil. Industry operators sell soybean grain to downstream operators, which process these into the mentioned products (IBISWorld report 31122CA). There is a diverse range of soybeans produced in Canada, which vary in their oil and protein makeup. Therefore, some soybeans are better suited for the production of oil, while others are better suited for animal feed. The segmentation below is based on the end use of soybeans...purchase to read more.

    Additional Insights for the Soybean Farming Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Soybean Farming Industry are

  • Economies of scale
  • Appropriate physical growing conditions
  • Production of premium goods/services

    • IBISWorld analysts also discuss how external factors such as World price of soybeans and GDP of mainland China in the Soybean Farming industry impact industry performance..

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    What's in this report

    Industry Products

    What is the Soybean Farming Industry?

    This industry grows soybeans. Soybeans are most often used in livestock feed and vegetable oils, although a growing proportion of the crop produced by this industry is being used in biofuel production.

    Industry Products
  • Soybeans for industrial meal
  • Soybean meal for consumption
  • Soybeans for oil
    • Industry Activities
  • Soybean farming
  • Soybean seed production
    • Table of Contents

    About this Industry

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources

    Industry at a Glance

    Industry Statistics Snapshot
    Industry Structure
    Executive Summary

    Industry Performance

    Executive Summary
    Key External Drivers
  • World price of soybeans
  • GDP of mainland China
  • Canadian effective exchange rate index
  • World price of crude oil

    • Current Performance
  • Price volatility and globalization
  • Industry trends
  • Chart: Revenue Growth

    • Industry Outlook
  • Rising exports and high profit
  • Future threats to industry growth
  • Table: Soybean Farming Industry Revenue Outlook

    • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Soybean Farming Industry Lifecycle vs The Economy

    • Products & Markets

    Supply Chains
    Key Buying Industries
  • Beef Cattle Production in Canada
  • Dairy Farms in Canada
  • Animal Feed Production in Canada
  • Organic Chemical Manufacturing in Canada
  • Corn, Wheat & Soybean Wholesaling in Canada

    • Key Selling Industries
  • Biotechnology in Canada
  • Farm, Lawn & Garden Equipment Wholesaling in Canada
  • Fertilizer Manufacturing in Canada

    • Products & Services
  • Soybeans for industrial meal
  • Soybeans for oil
  • Soybean meal for consumption
  • Chart: Soybean Farming Industry Products and Services Segmentation

    • Demand Determinants
    Major Markets
  • Exports to China
  • Exports to the rest of the world
  • Processors
  • Chart: Major Market Segmentation for the Soybean Farming Industry

    • International Trade
    Business Locations
    Chart: Business Locations by State

    Competitive Landscape

    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesOther
  • Chart: Cost Structure Benchmarking – Sector vs Soybean Farming

    • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Soybean Farming Industry

    • Industry Globalization

    Major Companies

    There are no major players in this industry. This report includes analysis of other companies.

    Operating Conditions

    Capital Intensity
  • Chart: Level of Capital Intensity for the Soybean Farming Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

    • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

    • Regulation & Policy
    Industry Assistance

    Key Statistics

    Table: Industry Data for the Soybean Farming Industry
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Exports (2010-2024)
  • Imports (2010-2024)
  • Wages (2010-2024)
  • World price of soybeans (2010-2024)

    • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data

    Jargon & Glossary

    Biodiesel
  • A fuel that is similar to diesel fuel and is usually derived from vegetable sources such as soybean oil.
    • Biofuel
  • Also called agrifuel or biodiesel. A fuel consisting of or derived from dead biological material, usually plants.
    • Genetically Modified (Gm)
  • A technique whereby specific changes are introduced into a plant's or animal's DNA by genetic engineering techniques. The most common modified foods include soybean, corn and canola.
    • Herbicide
  • A substance used to destroy unwanted plants and weeds, while leaving a desired crop relatively unharmed.
    • Soybean Meal
  • The solid protein left over after the oil is removed from soybeans.
    • Yield
  • The number of soybeans produced per acre of land. For soybeans, this is measured in bushels per acre.
    • What Our Customers Say
    Why buy this report?

    The Soybean Farming market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Soybean Farming:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Soybean Farming market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Soybean Farming, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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