About 86% of the global soybean harvest is processed by the crushing industry to extract soybean oil and soybean meal. The remaining 14% of soybeans grown worldwide are consumed directly as human food, animal feed, or seeds. 

Historically, the value of soybeans has been primarily determined by its most significant byproduct: soybean meal. In 2000, soybean meal accounted for two-thirds of the value generated from crushing soybeans, while oil made up one-third. In recent years, however, oil has contributed about 45% of the value derived from soybean processing, nearing parity with meal. 

On average, crushing soybeans yields 19% oil—significantly below the extraction rates of other oilseeds such as sunflower seed (42%) and rapeseed (41%). Soybean oil is in demand for both food and as a feedstock to produce biofuels.    

China, the US, Brazil, India, and the European Union account for three-quarters of global soybean oil consumption, but they use it in different ways. While China and India use all soybean oil for food, the US, Brazil, and the EU split their consumption roughly equally between food and fuel. Overall, 78% of total soybean oil is used for food, while 22% serves as a feedstock for the biofuels industry.  

Argentina is the largest exporter, while India is the largest importer.

In addition to oil, soybean crushing produces about 78% soybean meal. Soybean meal is the leading protein source used in the animal feed industry. The largest meat-producing regions are China, the US, the EU, and Brazil. While China, the US, and Brazil have sufficient crushing capacity to produce enough soybean meal to meet their domestic feed demands, the EU does not. As a result, the EU has become the world’s largest importer of soybean meal. Its primary supplier is Argentina—a country with significant crushing capacity, but relatively low domestic demand for soybean meal, due to its smaller population and meat industry compared with other major soybean-crushing nations.  

With a crude protein content of 44-48%, soybean meal is rich in amino acids and serves as an excellent complement to lower-protein feed components such as corn. Soybean meal is highly digestible for monogastric animals, such as pigs and chickens, which contributes to its widespread use across various livestock sectors. Globally, the poultry industry is the largest consumer of soybean meal, followed by the pork, cattle (both dairy and beef), and aquaculture industries.