Global Wheat Market was US$ 331.27 Billion in 2022
Global Wheat Market Size
Wheat market is expected to go beyond US$ 68.34 billion by 2032 from US$ 45.60 billion in 2023, with a CAGR of 4.40% from 2024 to 2032. The global factors contributing to the growth consist of; growing population, the bead demand for wheat products for food and as a feed ingredient, and technological and innovation in farming, which leads to improved production of quality grain.
Global Wheat Market Analysis
Wheat is a cereal grain that can be grown almost all over the world; it is considered as a staple food due to its rich contents. It is part of the Triticum genus and different species and varieties exist depending on climatic conditions for growth all over the world. Hence, wheat grains are essentially a carbohydrate, proteins - gluten and non-gluten proteins, dietary fiber’s rich edible, and staple grain for a large section of the global population.Wheat is not used for oil production as the major product of this cereal grain is for consumption. It is ground and processed into flour that is incorporated in the preparation of breads, pasta, noodles, pastry goods, and leavened bakery products. Wheat foods offer nutrition value such as energy, protein, B vitamins, and minerals and these product help to cater for the human nutritional needs.
Aside from being a food source for people, wheat is essential in livestock and poultry feeds to sustain animals. Wheat bran and middlings are cost effective animal feed ingredients which are by-products of milling due to their richness in fibers.
Driving forces for the Wheat Market
Global Population Growth and Urbanization:
As the global population increases especially in developing countries, there will always be increased demand for the basic foods such as the wheat. Modernization and advancement in technology increase the demand of convenience foods, processed foods, wheat products and therefore increases consumption. This demographic trend makes consistently demanding the market for wheat, which affects the world production, exports, and prices.Changing Dietary Preferences and Nutrition Awareness:
Market forces that make consumers change towards better nutrition standards boost consumption of wheat products. The availability of whole wheat and high-fiber products is on the rise owing to the customer who thinks he is doing something good for himself. This trend affects novelty in products and advertisements, thus encouraging variations in wheat-based foods consumers can meet.Industrial Applications:
Wheat is used in food industries, in the production of beer, ethanol and pharmaceuticals and in cosmetic industries as emollients. The applicability of wheat components such as starch and gluten in other sectors other than food makes it able to generate its revenue from a large and varying market which help to balance the market for the producers. Thus, the option for industrial usage helps the market to be able to cope with changes in demand of foods and or other changing economic factors.Technological Advancements in Agriculture:
Advanced farming methods including better seeds, advanced methods of farming like precision farming and sustainable farming increase production and quality of the wheat. They increase output per unit of input, minimize effects on the natural environment, and bring down the cost of production; thus, improving the position of wheat producers in the global economy. There are other favorable changes that stem from technological modernization which entail a (counter)strategy to climate changes’ challenges insofar as they guarantee the stability of supplies and operations in the wheat market.Asia Pacific Wheat Market
The Asia Pacific wheat market is quite active and varied including production and consumption trends across the countries of the region.Wheat is among the widely used crops across the world, and China and India act as leading producers and consumers. Chinese government encourage and provide subsidies and policies to meet its need for wheat production. India’s diverse demographics also play into a robust internal consumption, especially for wheat-based foods such as chapati and bakery products etc.
Among the exporting countries, Australia is unique in terms of its contribution to the supply of wheat in the Asia Pacific region. As a leading producer of premium wheat producers and with progressive agriculture techniques, the country has a significant role in exporting wheat to the other countries of the region and the global market.
Indonesian, Vietnamese, and Thai countries are among the leading importers as most of the countries lack the ability or infrastructure to produce large amounts of wheat which is increasingly being consumed in the regions mainly in the form of noodles, bread, and other bakery items.
Therefore, growth in the Asia Pacific wheat market is a balancing act of population and dietary changes, agricultural policies, and trade factors that elicit production and consumption both and food security in the region.
Wheat Company Analysis
The key players in the wheat market include Cargill, Inc., CHS Inc., Bunge, Glencore, Louis Dreyfus Company, Ardent Mills, The Scoular Company, Syngenta, The Soufflet Group, and Adani Wilmar.Wheat Company News
In October 2023, India pioneered the wheat technique known as biological nitrification inhibition or BNI. In India's Indo-Gangetic area, using BNI technology will help create nitrogen-efficient wheat production systems.In June 2023, the University of Minnesota introduced MN-Rothsay as the name of a hard red spring wheat cultivar. The novel wheat cultivar possesses a superior combination of robust straw strength, disease resistance, protein content, and yield.
In May 2023, the Gujarat Co-operative Milk Marketing Federation (GCMMF) entered the organic whole wheat flour market by launching the Amul organic atta. GCMMF's strategic plan to enter the organic atta market is in response to the increased demand from consumers for healthier and more organic food options.
In February 2023, Inari, the SEEDesign firm, and InterGrain, one of Australia's top grain breeding companies, joined forces in a calculated partnership to increase wheat's potential output and strengthen the crop's long-term survival in the country's fast-changing climate.
Nature - Global Wheat Market in 2 Viewpoints :
1. Organic2. Conventional
End User - Global Wheat Market in 2 Viewpoints :
1. B2BI. Food & Beverages
II. Animal Feed
III. Industrial Use
IV. Others
2. B2CI. Online
II. Offline
Geography - Global Wheat Market
North America
1. United States2. Canada
Europe
1. France2. Germany
3. Italy
4. Spain
5. United Kingdom
6. Belgium
7. Netherlands
8. Turkey
Asia Pacific
1. China2. Japan
3. India
4. Australia
5. South Korea
6. Thailand
7. Malaysia
8. Indonesia
9. New Zealand
Latin America
1. Brazil2. Mexico
3. Argentina
Middle East & Africa
1. South Africa2. Saudi Arabia
3. United Arab Emirates
Company Insights:
- Overviews
- Recent Developments & Strategies
- Revenue
Company Analysis:
1. Cargill, Inc.2. CHS Inc.
3. Bunge
4. Glencore
5. Louis Dreyfus Company
6. Ardent Mills
7. The Scoular Company
8. Syngenta
9. The Soufflet Group
10. Adani Wilmar
Table of Contents
Companies Mentioned
- Cargill, Inc.
- CHS Inc.
- Bunge
- Glencore
- Louis Dreyfus Company
- Ardent Mills
- The Scoular Company
- Syngenta
- The Soufflet Group
- Adani Wilmar
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 300 |
| Published | July 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 45.6 Billion |
| Forecasted Market Value ( USD | $ 68.34 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
