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Soybean Farming in the US Industry Data and Analysis
Industry revenue for soybean farmers in the US has contracted over the past five years, even as structural demand from domestic crushers and biofuel producers has strengthened the underlying market. Industry revenue has fallen at a CAGR of 5.2% since 2021 to an estimated $44.5 billion in 2026, including a 1.9% decline in 2026. Robust growth in soybean oil use for biomass‑based diesel and renewable diesel, combined with record or near‑record crush volumes, has helped offset weak export demand and provided a floor under prices, but not enough to fully counteract the revenue drag from the earlier price downturn and rising operating expenses. New and expanded crush capacity has supported local basis improvements around processing and biofuel hubs, giving nearby growers a relative price advantage and incentivizing acreage shifts toward soy, yet overall industry performance remains constrained by high fertilizer, fuel and labor costs and the lingering impact of 2024/25’s multi‑year price lows.
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What's included in this industry analysis
IBISWorld's research coverage on the Soybean Farming industry in the United States includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released June 2026.
About this industry
What's this industry report about?
The Soybean Farming industry in the United States operates under the NAICS industry code 11111. Farms in this industry grow soybeans as their main crop. Soybeans are most often used in livestock feeds and vegetable oils, with a small but growing proportion used in biofuel production. Establishments that sell soybean seeds to US farmers for growing crops are also included. Related terms covered in the Soybean Farming industry in the United States include soybean meal, herbicide, bushel, biofuel, yield, genetically modified (gm), asian soybean rust and marketing year.
What's included in this industry?
Products and services covered in Soybean Farming industry in the United States include Soybean meal, Soybean oil and Soybean hull.
What companies are included in this industry?
The Soybean Farming industry in the United States is highly fragmented with no companies holding a market share greater than 5%.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Soybean Farming industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Soybean Farming industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Soybean Farming industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Soybean Farming industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Soybean Farming industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Soybean Farming industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Soybean Farming industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Soybean Farming industry in the United States.
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Frequently Asked Questions
What is the market size of the Soybean Farming industry in the United States in 2026?
The market size of the Soybean Farming industry in the United States is $44.5bn in 2026.
How many businesses are there in the Soybean Farming industry in the United States in 2026?
There are 61,230 businesses in the Soybean Farming industry in the United States, which has declined at a CAGR of 10.4 % between 2021 and 2026.
How may import tariffs affect the Soybean Farming industry in the United States?
The Soybean Farming industry in the United States is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Soybean Farming industry in the United States?
The Soybean Farming industry in the United States is likely to be significantly impacted by export tariffs with exports accounting for a high share of industry revenue.
Has the Soybean Farming industry in the United States grown or declined over the past 5 years?
The market size of the Soybean Farming industry in the United States has been declining at a CAGR of 5.2 % between 2021 and 2026.
What is the forecast growth of the Soybean Farming industry in the United States over the next 5 years?
Over the next five years, the Soybean Farming industry in the United States is expected to decline.
What does the Soybean Farming industry in the United States include?
Growing soybeans for oil and Growing soybeans for meal are part of the Soybean Farming industry in the United States.
How competitive is the Soybean Farming industry in the United States?
The level of competition is moderate and increasing in the Soybean Farming industry in the United States.
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