Vietnam Soybean Market Overview, 2030

The soybean market in Vietnam is anticipated to undergo substantial transformation by 2030, fueled by a combination of economic growth, changing dietary habits, increasing industrial demand, and a stronger emphasis on agricultural modernization. Traditionally, soybeans have been a part of Vietnam’s food culture, utilized in everyday meals in forms such as tofu, soy milk, and fermented soybean products. However, in recent years, their role has expanded beyond culinary purposes to serve industrial sectors, livestock feed, and nutritional supplement production. Vietnam's tropical climate and fragmented land ownership have historically limited large-scale domestic soybean cultivation, making the country heavily reliant on imports. This dependency on imported soybeans, especially from major producers like the United States, Brazil, and Argentina, has made the market vulnerable to global supply fluctuations. In response, the Vietnamese government has been investing in agricultural research, hybrid seed development, and training programs to improve yield efficiency and reduce reliance on foreign supply. As the country continues to integrate with global markets through trade agreements and regional partnerships, the soybean sector is poised to benefit from improved access to technology, expertise, and sustainable farming practices.

According to the research report "Vietnam Soybean Market Overview, 2030," published by Bonafide Research, the Vietnam Soybean Market is anticipated to grow at more than 7.68% CAGR from 2025 to 2030. The evolving Vietnamese soybean market is also being shaped by demographic changes, urbanization, and rising health consciousness among consumers. With a growing middle class and increased access to information, consumers are paying closer attention to food safety, nutritional content, and product origin, particularly in urban centers like Ho Chi Minh City and Hanoi. The demand for high-quality, a traceable soybean product has led to the emergence of new supply chains focusing on non-GMO and organic soybeans. Meanwhile, younger consumers are increasingly adopting vegetarian and flexitarian lifestyles, spurred by environmental concerns and a desire for cleaner eating habits. This shift in preference has led to the proliferation of soy-based snacks, protein-enriched beverages, and meat alternatives in supermarkets and convenience stores. Furthermore, Vietnam’s food and beverage industry is leveraging soybeans as a functional ingredient in health foods, beauty products, and even sports nutrition, supported by innovations in food science and processing technology. The hospitality and foodservice sectors are also incorporating more soy-based options into their menus to cater to a more diverse and health-aware clientele. Simultaneously, the rise of e-commerce platforms and mobile food delivery services has broadened access to soybean products, enabling local and international brands to connect directly with Vietnamese consumers.

In terms of soybean types, Vietnam’s market shows a distinct split between genetically modified (GMO) and non-genetically modified (non-GMO) varieties, each serving particular sectors with differing priorities. The use of GMO soybeans is largely driven by economic factors and the need to meet high-volume demands in livestock feed and certain industrial applications. These soybeans are favored for their high yield, resistance to pests and diseases, and lower production costs, making them an essential input for Vietnam’s growing animal husbandry sector. The country’s poultry and aquaculture industries, in particular, rely on cost-effective soybean meal to maintain feed efficiency and protein content. In contrast, the demand for non-GMO soybeans is growing rapidly in the food and beverage industry, where consumer sensitivity toward food safety and product labeling is particularly strong. Traditional soy foods such as tofu, soy sauce, and soy milk are increasingly expected to come from non-GMO sources, and producers are responding by establishing premium product lines that are clearly marked and verified. These distinctions are becoming even more relevant as Vietnam strengthens its regulatory framework for food labeling and traceability, reflecting international trade standards and consumer expectations. The rising health awareness among consumers is also contributing to the preference for non-GMO options, particularly in urban and affluent areas.

The Vietnamese soybean market by application spans several dynamic segments, including animal feed, food and beverages, industrial uses, and other specialized sectors. Among these, animal feed remains the most dominant in terms of volume, as soymeal serves as a critical protein source for pigs, poultry, and aquaculture, all of which are crucial to the country’s food production system. The Vietnamese government has prioritized improvements in livestock productivity, which in turn has led to consistent demand for high-protein feed ingredients such as soybeans. In the food and beverage sector, soybeans hold a more culturally significant and evolving role. Vietnamese cuisine features soy-based ingredients extensively, from fermented pastes to fresh soy milk, and there is a growing market for health-conscious soy foods, particularly among urban professionals and aging populations seeking plant-based proteins. Innovations in processing have enabled the development of value-added products such as soy-based yogurts, protein bars, and beverages tailored for wellness markets. On the industrial front, soybeans are being increasingly processed into oils, biodiesel, and even bioplastics, with government policies encouraging green manufacturing and environmental conservation. Other applications are emerging in pharmaceuticals and cosmetics, where soy-derived compounds such as lecithin and isoflavones are being utilized for their functional properties. Additionally, the nutraceutical industry is beginning to explore soy-based formulations for heart health, hormone regulation, and digestive wellness.

The form in which soybeans are processed and consumed in Vietnam also plays a crucial role in shaping market behavior, with both raw and processed soybeans catering to different needs and preferences. Raw soybeans are primarily used by traditional food producers, small-scale processors, and consumers who prefer to prepare soy-based products at home using fresh ingredients. These raw beans are commonly utilized in households and artisanal production of tofu, soy milk, and fermented products, especially in rural areas where traditional preparation methods are still valued. However, as convenience and food safety concerns rise, the processed soybean segment is gaining significant traction across all regions. Processed soybeans in the form of defatted meal, oil, protein concentrates, isolates, and textured vegetable protein are widely used in commercial food manufacturing and industrial applications. These forms are not only easier to store and transport but also offer consistency in quality and nutritional profile, which is important for scaling production. The processed segment is also benefitting from advancements in food technology that enhance flavor, remove antinutritional factors, and improve digestibility. In response to shifting dietary trends, many companies are investing in high-protein soy derivatives that can be used in meat analogs, health drinks, and functional foods. The distinction between raw and processed forms is also becoming clearer in consumer perception, with processed products often associated with urban lifestyles, modern cooking habits, and packaged food solutions.



Direct sales are common in the industrial and feed sectors, where large-scale transactions between importers, processors, and farms are negotiated based on volume, delivery timelines, and quality standards. These transactions often involve GMO soybeans and are governed by supply contracts aimed at ensuring price stability and product availability. Wholesale distribution plays a crucial role in linking importers with food manufacturers, restaurants, and regional markets. Wholesalers often manage storage, logistics, and quality control, ensuring that soybeans reach processors and retailers in optimal condition. However, the most visible changes are occurring in the retail segment, where consumer-facing distribution channels are expanding rapidly in response to urbanization and rising disposable incomes. Modern supermarkets, specialty organic stores, and convenience chains now stock a wide variety of soy-based products ranging from traditional items to international brands offering high-protein snacks, meat substitutes, and soy beverages. Additionally, the e-commerce boom in Vietnam is reshaping how consumers access soybean products, with online platforms offering home delivery, product customization, and detailed sourcing information. These digital platforms have become especially popular among younger consumers and health-conscious shoppers looking for convenience and transparency. Branding, eco-friendly packaging, and origin stories are also playing a greater role in purchasing decisions, particularly within premium product segments.

Considered in this report
• Historic Year: 2019
• Base year: 2024
• Estimated year: 2025
• Forecast year: 2030

Aspects covered in this report
• Soybean Market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Type
• GMO
• Non GMO

By Applications
• Animal Feed
• Food & Beverages
• Industrial
• Other

By Form
• Processed
• Raw

By Distribution Channel
• Direct Sales
• Wholesale
• Retail

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to agriculture industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.