Global Wheat Market is Segmented By Type (Durum Wheat, Bread Wheat), By Application (Food & Beverage, Pharmaceutical, Dietary Supplements, Cosmetics Personal Care, Household, Others), By Distribution Channel (Supermarket/Hypermarket, Grocery Store, Wholesale
Online Sales), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Size
The Global Wheat Market reached US$ 357.2 billion in 2022 and is expected to reach US$ 507.9 billion by 2031 and is expected to grow with a CAGR of 4.5% during the forecast period 2024-2031. Gluten-free bread, pasta, and baked goods made from non-wheat grains are becoming more widely available.
Wheat is widely cultivated and consumed around the world. It is a staple food for many people and is used in various forms in the food industry. There are several different varieties of wheat, each with its characteristics and uses. Common varieties include hard wheat (used for making bread), soft wheat (used for making pastries and cakes), durum wheat (used for making pasta), and spelt wheat (an ancient variety used in specialty products). Wheat is typically grown in temperate regions with well-drained soil and moderate rainfall. It requires a cool climate during the growing season and a period of dormancy during the winter. Wheat alternatives, such as gluten-free flours made from rice, corn, quinoa, and tapioca, are witnessing increased demand. The prevalence of gluten-related disorders, such as celiac disease and gluten sensitivity, has led to a significant market for gluten-free products.
Market Summary
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Metrics |
Details |
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CAGR |
4.5% |
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Size Available for Years |
2022-2031 |
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Forecast Period |
2024-2031 |
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Data Availability |
Value (USD ) |
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Segments Covered |
Type, Application, Distribution Channel, and Region |
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Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
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Largest Region |
Asia-Pacific |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Increased Demand from Consumers for Baked Goods will Encourage Market Expansion
One of the most popular baked foods consumed worldwide is bread, which mainly depends on wheat. The Food and Agriculture Organisation of the United Nations (FAO) reports that the consumption of bread worldwide has been rising consistently over time. For instance, the globe produced about 770 million metric tonnes of wheat in 2021, and it is anticipated that this number would increase in the years to come. The need for wheat production is influenced by the rising demand for bread.
The demand for wheat is significantly influenced by the bread sector. Wheat flour is used by bakeries, both large-scale industrial operations and small neighborhood businesses, to make a range of baked items. The European bakery business alone generated over 124 billion dollars in revenue in 2020, according to data from the International Association of Plant Bakeries (AIBI), demonstrating the sizeable market and high demand for wheat in the bread industry.
Growing Demand for Wheat-Based Products will Drive Market Expansion Significantly
The world's population is continually rising, which has increased the demand for food staples like wheat. By 2050, the United Nations projects that there will be 9.7 billion people on the planet. The demand for basic foods like bread, pasta, and bakery goods—which are significant users of wheat—is driven by this population expansion.
Global demand for wheat products has increased as a result of changes in dietary choices brought on by elements such as westernization, exposure to other cuisines, and evolving consumer tastes. For instance, there is a rising acceptance and demand for wheat-based goods like bread and noodles in many Asian nations where rice has historically been a staple food. The wheat market is widened by this change.
Disease and Pest Outbreaks can Hamper the Wheat Market Growth
Disease and pest outbreaks can indeed hamper the growth of the wheat market by causing significant damage to crops, reducing yields, and impacting overall production. Stem rust, caused by the fungus Puccinia graminis, is a major disease affecting wheat crops. Historically, stem rust has caused devastating epidemics, resulting in significant yield losses. For example, the stem rust epidemic in North America in the early 20th century, known as the "Great Rust of 1916," led to estimated losses of 20-70% in wheat production.
The Hessian fly (Mayetiola destructor) is a major insect pest of wheat. Infestations can cause stunted growth, lodging, and reduced grain yield. According to the United States Department of Agriculture (USDA), Hessian fly damage can lead to yield losses ranging from 5% to 100% in susceptible wheat varieties, depending on the severity of infestation and management practices.
Market Segmentation Analysis
The global wheat market is segmented based on type, application, distribution channel and region.
The Bread Wheat Segment Holds the Largest Market Share in the Wheat Market
Bread wheat, scientifically known as Triticum aestivum, is the most widely cultivated and consumed type of wheat globally. It is favored for its high gluten content, which provides the elasticity and structure necessary for bread-making. Bread wheat accounts for a significant portion of global wheat production and consumption.
Bread wheat's specific characteristics, such as its protein content and gluten quality, make it well-suited for various baked goods beyond bread. It is used extensively in the production of pastries, cakes, cookies, muffins, and other bakery products. Its versatility in different baking applications enhances its market demand and solidifies its dominant position.
Market Geographical Share
Asia Pacific Dominates the Market Owing to The Growing Prevalence of Obese Population in the United States
Asia Pacific is home to a large population, making it a key consumer region for wheat. According to the United Nations, Asia has the highest population in the world, with China and India being the two most populous countries. The sheer size of the population in Asia Pacific drives the demand for wheat as a staple food ingredient.
Bread and noodles are major contributors to the consumption of wheat in the region. Many Asian countries have a strong culinary tradition of consuming wheat-based products such as bread, buns, steamed buns, and various types of noodles. For instance, according to Food and Agriculture Organization (FAO), the total export quantity of wheat in 2021 is 104 million metric tons. This high consumption of wheat-based products in the Asia Pacific supports its dominant market share.
Market Companies
The major global players in the market include Glencore International, ADM (Archer Daniels Midland), Bunge, Cargill, Inc., Louis Dreyfus Company, Siemer Milling Company, King Milling Company, Knappen Milling Company, Italgrani USA, and Chelsea Milling Company.
COVID-19 Impact on Wheat Market
Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:
Covid-19 Impact
The pandemic caused disruptions in global supply chains, including the wheat market. Lockdown measures, transportation restrictions, and border closures affected the movement of goods, including wheat and its products. Delays in shipping, logistics challenges, and labor shortages at ports and processing facilities caused disruptions in the wheat supply chain.
The wheat market experienced price fluctuations due to the pandemic's impact on supply and demand dynamics. The initial panic buying and stockpiling led to price volatility. However, as the situation stabilized and supply chains adjusted, wheat prices generally remained stable or experienced moderate fluctuations based on global production and trade conditions.
Key Developments
- In May 2022, Dairy major GCMMF, which markets its products under the Amul brand, announced entry into the organic food market with the launch of organic wheat.
- In May 2021, IFF to complete the previously announced merger of IFF and DuPont’s Nutrition & Biosciences business, according to a Reverse Morris Trust transaction. The combined company will continue to operate under the name IFF. Shares of the combined company’s common stock will trade on the New York Stock Exchange under the symbol “IFF.”
- In February 2022, Inari, the SEEDesign company, and InterGrain, a leading cereal breeding company in Australia, announced a strategic collaboration to dramatically improve the yield potential of wheat, enhancing the crop's long-term viability in the face of an increasingly variable climate.
Why Purchase the Report?
- To visualize the global wheat market segmentation based on type, application, distribution channel, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities in the market by analyzing trends and co-development.
- Excel data sheet with numerous data points of wheat market-level with all segments.
- The PDF report consists of cogently put-together market analysis after exhaustive qualitative interviews and in-depth market study.
- Product mapping is available as Excel consists of key products of all the major market players.
The global Wheat market report would provide approximately 61 tables, 60 figures and 190 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
