Report Update Nov 1, 2024

Ireland - Soya Beans - Market Analysis, Forecast, Size, Trends and Insights

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Ireland: Soya Bean Market 2024

Soya Bean Market Size in Ireland

In 2021, after three years of decline, there was significant growth in the Irish soya bean market, when its value increased by 129% to $X. In general, consumption posted a resilient increase. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Soya Bean Exports

Exports from Ireland

After three years of growth, shipments abroad of soya beans decreased by -89.7% to X tons in 2021. Overall, exports faced a deep reduction. The pace of growth was the most pronounced in 2018 when exports increased by 1,202% against the previous year. The exports peaked at X tons in 2020, and then reduced sharply in the following year.

In value terms, soya bean exports shrank significantly to $X in 2021. Over the period under review, exports showed a abrupt decline. The most prominent rate of growth was recorded in 2018 when exports increased by 1,564% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The UK (X tons) was the main destination for soya bean exports from Ireland, accounting for a 99.9% share of total exports. It was followed by the Netherlands (X kg), with less than 0.1% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the UK stood at +25.5%.

In value terms, the UK ($X) remains the key foreign market for soya bean exports from Ireland, comprising 99.9% of total exports. The second position in the ranking was taken by the Netherlands ($X), with less than 0.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the UK totaled +28.7%.

Export Prices by Country

The average soya bean export price stood at $X per ton in 2021, picking up by 66% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per ton), while the average price for exports to the Netherlands amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+2.5%).

Soya Bean Imports

Imports into Ireland

In 2021, supplies from abroad of soya beans increased by 66% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports enjoyed a strong increase. The most prominent rate of growth was recorded in 2013 when imports increased by 187% against the previous year. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, soya bean imports soared to $X in 2021. In general, imports recorded a strong expansion. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Canada (X tons) constituted the largest supplier of soya bean to Ireland, with a 81% share of total imports. Moreover, soya bean imports from Canada exceeded the figures recorded by the second-largest supplier, the UK (X tons), ninefold. The third position in this ranking was held by the Netherlands (X tons), with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Canada amounted to +22.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+36.1% per year) and the Netherlands (+12.2% per year).

In value terms, Canada ($X) constituted the largest supplier of soya bean to Ireland, comprising 81% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 10% share of total imports. It was followed by the UK, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Canada stood at +20.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+12.6% per year) and the UK (+22.0% per year).

Import Prices by Country

In 2021, the average soya bean import price amounted to $X per ton, rising by 31% against the previous year. Overall, import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, soya bean import price increased by +145.3% against 2016 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by 38% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+26.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for soya beans in the world?

The countries with the highest volumes of soya bean consumption in 2021 were China, the United States and Argentina, with a combined 68% share of global consumption.

What are the largest producers of soya beans in the world?

The countries with the highest volumes of soya bean production in 2021 were Brazil, the United States and Argentina, together accounting for 80% of global production. These countries were followed by China, India, Paraguay and Canada, which together accounted for a further 14%.

What are the leading suppliers of soya beans to Ireland?

In value terms, Canada constituted the largest supplier of soya bean to Ireland, comprising 82% of total imports. The second position in the ranking was occupied by the Netherlands, with a 10% share of total imports.

What are the leading importers of soya beans from Ireland?

In value terms, the UK remains the key foreign market for soya bean exports from Ireland.

What is the average export price for soya beans in Ireland?

In 2021, the average soya bean export price amounted to $418 per ton, remaining constant against the previous year.

What is the average import price for soya beans in Ireland?

In 2021, the average soya bean import price amounted to $541 per ton, with an increase of 9.3% against the previous year.

This report provides an in-depth analysis of the soya bean market in Ireland. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 236 - Soybeans

Country coverage:

Ireland

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ireland
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023