Soybeans market in Western Europe

Earlier Report Observations

The soybean market in Western Europe expanded from 8.3 million tons in 2018 to a peak of 9.3 million tons in 2019. This growth was primarily driven by rising demand for organic soybeans in the animal feed sector, linked to increasing consumer preference for organic poultry and natural foods. At the same time, heightened health awareness spurred consumption of soybean-based products, and the launch of new vegetarian and vegan alternatives further supported market expansion. However, in 2020, market volume dipped to 9.0 million tons as increased global supply from South America altered trade flows and availability.

From 2021 to 2023, the market contracted steadily, reaching 6.6 million tons in 2023. The U.S.-China trade war disrupted worldwide soybean trade patterns, reducing import volumes into Europe. Concurrently, rising wholesale prices for soybeans in 2022 dampened demand. Although EU cultivation area expanded and domestic production gradually increased, and despite growing demand for soybean meal and protein driven by the plant-based food trend, these factors were outweighed by the sharp decline in net imports, exacerbated by policy shifts in China that redirected global trade. By 2024, market dynamics continued to be shaped by price volatility and evolving global trade policies.

Production soybeans in Western Europe

In kind, 2017-2020, K t

Top producers of soybeans, 2017-2020

World map of production of soybeans, 2017-2020

In 2020, Western Europe produced 707.4 thousand tonnes of soybeans, marking a moderate 3.8% decrease compared to 2019. Over the 2017-2020 period, production grew by 4%, with an average annual growth rate of 1.3%. The lowest production level was recorded in 2018 at 647.4 thousand tonnes, while the highest was in 2019 at 735.8 thousand tonnes. The most significant decline occurred in 2018, dropping by 4.8%, whereas the largest increase was in 2019, rising by 13.6%.

Annual dynamics of production in Western Europe in kind, 2017-2020, K t

Exports soybeans from Western Europe

Exports in kind, K t

The market exhibited volatility during these years. Exports reached their lowest point in 2019 at 351 thousand tonnes and peaked in 2020 at 1 343 thousand tonnes, showing a 3.8-fold difference between these two years. In 2020, soybean exports from Western Europe totaled 1 343 thousand tonnes, representing a substantial 282.7% increase compared to the previous year. The most significant decline was recorded in 2019, falling by 73.5%.

Annual dynamics of product's exports from Western Europe in kind, 2017-2020, K t

From 2017 to 2020, soybean exports from Western Europe were distributed across a wide range of partner countries. Poland accounted for 4.6% of exports in kind, Spain for 3.1%, and the United Kingdom for 1.7%, with these three countries together representing just 9.4% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Western Europe in kind, 2017-2020

Exports in value, M $ US

In 2020, foreign soybean supplies from Western Europe amounted to 691 million US dollars, reflecting a substantial 16.7% increase compared to the previous year. Between 2017 and 2020, exports grew by 10.6%, equivalent to an annualized rate of 3.4%. The lowest value was recorded in 2019 at 592 million US dollars, with the most significant decline occurring that year, dropping by 12.5%.

Annual dynamics of product's exports from Western Europe in value, 2017-2020, M $ US

The structure of exports in value terms from 2017 to 2020 was diversified. Poland contributed 4.2% of exports in value terms, Spain 3.4%, and Sweden 2.1%, with these three countries together accounting for just 9.7% of total flows. No single country held a clearly dominant position during this period.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Western Europe in value, 2017-2020

Imports soybeans to Western Europe

Imports in kind, K t

In 2020, Western Europe's soybean imports stood at 9 593 thousand tonnes, showing a moderate 8.0% increase year-over-year. Between 2017 and 2020, imports rose by 22.5%, equating to an annualized growth rate of 7.0%. The largest decline was recorded in 2019, decreasing by 0.9%, while the most significant increase occurred in 2018, rising by 14.4%.

Annual dynamics of product's imports to Western Europe in kind, 2017-2020, K t

From 2017 to 2020, the United States and Brazil were the dominant sources for soybean imports into Western Europe. The United States accounted for 49.1% of total import flows in kind, and Brazil for 32.0%, together forming 81.1% of total imports. Other partner countries made up the remaining volume.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Western Europe in kind, 2017-2020

Imports in value, M $ US

In 2020, soybean imports into Western Europe amounted to 3 918 million US dollars, reflecting a solid 14.2% year-over-year increase. Over the 2017-2020 period, imports grew by 21.7%, with a compound annual growth rate of 6.8%. The largest decline was recorded in 2019, falling by 9.5%, while the most significant increase occurred in 2018, rising by 17.8%.

Annual dynamics of product's imports to Western Europe in value, 2017-2020, M $ US

From 2017 to 2020, the United States, Brazil, and Canada accounted for the largest share of soybean imports in value terms into Western Europe. The United States contributed 47.4% of imports in value terms, Brazil 31.7%, and Canada 5.9%, with these three countries together comprising 84.9% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Western Europe in value, 2017-2020