7 global trends for 2025: Soy outlook for emerging markets

ST. LOUIS — Leaders from the World Initiative for Soy in Human Health shared global trends in the soy market in 2025 and beyond.

Gena Perry, executive director of WISHH, gave an update during a webinar hosted by AgriPulse.

“We were founded nearly 25 years ago by visionary soybean farmers who saw the need to diversify markets and start looking at new markets and how to build new markets to create new customers in the future,” she said.

Global Trends

1. Developing economies are growing economies.

“WISHH is in about 16 countries across sub-Saharan Africa,” Perry said. “That continent is at the top of the list for the world’s top 20 fastest growing economies. That includes Tanzania, Uganda, Ethiopia and Nigeria — all markets that WISHH has worked in.

“The continent of Africa was really affected by the war in Ukraine and continues to be affected. But even with those challenges, we see that the outlook for growth in Africa is set at 4% coming into the next year.

“Alternatively, we see that Cambodia’s projected economic growth is around 6% — so there’s a lot of opportunity that exists in these markets as the economies are growing.”

2. Growing populations drive demand for protein.

“These populations are growing,” Perry said. “As incomes are rising people are wanting more protein, whether it’s from fish, eggs, chicken or adding soy protein into other foods and beverages.

“Looking again at the continent of Africa we see where 26 of those countries are expected to double their current size. That’s a lot of people that are looking for nutritious foods to eat. But it’s also a lot of people that are looking to grow their economies and have employment opportunities.

“So, by working in the poultry and aquaculture spaces, and the human food development side, they’re not only creating nutritious and protein dense products — they’re also growing their economies.”

3. Next-generation entrepreneurs are key.

“In Africa alone, it’s estimated that in the next five to six years the labor force will increase to 375 million people — larger than the entire population of the United States,” said Tony Mellenthin, a Wisconsin soybean farmer and director on the United Soybean Board.

“The MasterCard Foundation has a program called the Happy Broiler program in Ghana that is aiming to create 326,000 jobs in the poultry sector in Ghana. That perfectly aligns with WISHH’s strategic goals.

“I think a common theme you will notice as we talk about WISHH is the partnerships that we have and the strategic alignment amongst multiple organizations.”

4. Aquaculture is on the rise.

“The aquaculture sector has taken off rapidly over the last few years,” Perry said. “Aquaculture is the world’s fastest expanding food production system. In Africa alone, aquaculture is expanding at nearly twice the global average. It’s reaching up to 23% in some regions.

“Fish and other aquaculture products are culturally appropriate protein sources. They’re already being consumed. We just need to figure out how those production practices can be more efficient.”

5. Availability of commercialized feed pellets.

“As the demand grows for the fish and for aquaculture products, the supply chain needs to be caught up,” said Morey Hill, farmer and WISHH chair.

“One of the main things that that WISHH works on — not only teaching people the value of soy in their protein diets, but how to raise better fish and trying to get the whole supply chain up to speed so that they can be self-reliant.”

6. Building stability leads to better markets, which leads to better trade.

“WISHH and U.S. soy can really help deliver prosperity and strength across the globe through our products,” Mellenthin said.

“Nearly 10% of the world’s population still goes to bed hungry every night. That’s 385 million people in Asia, 300 million people in Africa and 40 million people across Latin America and the Caribbean. That’s not even talking about other parts of the globe.

“That’s nearly three-quarters of a billion people don’t know where their next meal comes from. When you don’t know where your next meal comes from, that that leaves you very vulnerable to exploitation.

“U.S. soy, through WISHH, can head that off. We can provide a safer, stronger geopolitical environment. We can do that right off bat, whether that’s working with companies such as Edesia, with their soy nutrition bars for those who are acutely in danger of starvation.

“Then hopefully, as economies grow, as those socioeconomic situations in those countries improve, that then transitions to consuming animal protein, as well.

“At WISHH we get our foot into the door and that can help lead to more stable markets, more stable trade. I believe it improves geopolitical tensions across the globe.”

7. Adding soy to cereal-based foods is an opportunity for better health.

“When we talk about lower socioeconomic societies, often the majority of their calories come from cereal-based foods,” Mellenthin said. “Soy can be added right away, very easily, very affordably to those cereal-based foods.

“It will increase the protein profile, increase the vitamin and nutrient profile of those foods and really helps fortify their daily intake of nutrients.”