Wheat Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply Gap, End-User Industries, Sales Channel, Regional Demand, Company Share, Manufacturing Process, Foreign Trade, 2015-2034

The global Wheat market stood at approximately 800 million tonnes in 2023 and is anticipated to grow at a CAGR of 4.5% during the forecast period until 2034. Geographically, China and India are the largest producers and suppliers of Wheat. 

 

Wheat, classified as a grain, is primarily cultivated for human consumption. It belongs to the annual grass plant family, typically growing to heights of 2 to 3 feet and producing dry edible seeds known as kernels. Wheat, a versatile grain, finds extensive applications across diverse industries. In food production, wheat serves as a cornerstone ingredient, predominantly in the form of flour, for an array of staple foods including bread, pasta, noodles, and pastries. It also contributes to the production of breakfast cereals, couscous, and bulgur, enriching the global culinary landscape. Moreover, wheat is a vital component of animal feed formulations, providing essential carbohydrates, proteins, and nutrients to livestock and poultry, supporting their growth and well-being. Additionally, wheat plays a significant role in the brewing and distilling sectors, where it adds flavour and body to beers as wheat malt and lends a distinctive taste profile to spirits such as whiskey. Wheat extends its utility beyond food, finding applications in various non-food industries. It serves as a potential source for bioethanol production, contributing to renewable fuel alternatives, albeit raising concerns regarding environmental impact and competition with food production. Additionally, wheat starch is utilized in diverse sectors such as adhesives, textiles, and pharmaceuticals. Furthermore, wheat straw, a byproduct of wheat harvesting, finds use in the production of insulation materials and particleboard, showcasing wheat's versatility in contributing to industrial processes beyond its traditional role as a staple food crop.

 

The growth of the Wheat market can be attributed to several key factors. The demand for baked goods, particularly bread, is poised to fuel significant expansion in the wheat market. Bread stands as a ubiquitous staple worldwide, heavily reliant on wheat as its primary ingredient. The Food and Agriculture Organization of the United Nations (FAO) reports a consistent uptick in global bread consumption, reflecting a sustained trend over time. Furthermore, the global population's steady growth, is expected to further escalate the demand for essential food staples like bread, pasta, and bakery items— all of which rely heavily on wheat. Moreover, shifts in dietary preferences, spurred by factors such as westernization, exposure to diverse cuisines, and evolving consumer tastes, have fuelled a surge in global demand for wheat-driven products. Notably, many Asian countries, where rice has traditionally been a dietary staple, are witnessing a rising acceptance and preference for wheat-based items like bread and noodles. In the foreseeable future, the wheat market is anticipated to witness growth propelled by heightened wheat consumption across nations, driven by diverse culinary preferences and the utilization of wheat by processing industries for the production of various products like flour, pasta, noodles, and beverages, alongside increasing food demand. Factors such as the expanding global population, heightened research and development initiatives, and growing health consciousness are expected to contribute to increased wheat consumption worldwide during the projected period. However, certain factors such as heightened awareness of gluten allergies or sensitivity, as well as uncertainties in weather patterns observed in several regions, may restrain market growth during the forecast period. The global Wheat market is likely to reach approximately 1298 million tonnes in 2034. 

 

Geographically, the Asia Pacific region is poised as the foremost consumer of wheat, a trend expected to persist in the foreseeable future due to several compelling reasons. Firstly, the Asia Pacific region encompasses densely populated countries such as China, India, and Indonesia, where wheat holds a significant dietary importance alongside rice. The cultural and culinary traditions in these nations heavily incorporate wheat-based products, including bread, noodles, and pastries, contributing to substantial consumption. Moreover, the rising population and evolving dietary preferences in these countries further fuel the demand for wheat. Additionally, rapid urbanization and increasing disposable incomes in the region lead to a shift towards convenience foods, many of which are wheat-based, further driving consumption. Furthermore, the Asia Pacific region is witnessing notable economic growth and development, leading to improved living standards and dietary diversification, which often includes an increased intake of wheat products. Moreover, government initiatives promoting food security and agricultural development also play a crucial role in sustaining wheat consumption in the region.  The leading wheat-producing nations include China, the USA, India, and France. India is a major in terms of cultivated area and total production. Wheat cultivation in India is primarily concentrated in states such as Uttar Pradesh, Madhya Pradesh, Punjab, Haryana, Rajasthan, Bihar, Maharashtra, and Gujarat. Uttar Pradesh contributes the highest acreage and production, while Punjab leads in average productivity, followed by Haryana. China is the leading consumer of wheat globally, followed by India.

 

Based on the end-user industry, the global Wheat market is divided into Food & Beverages, Biofuel, Animal Feed, and Others. Among these, Food & Beverages is the major segment and held about 65% of the global Wheat market in 2023 and is anticipated to prevail the same trend in the forthcoming years. 

 

Major players in the Global Wheat market are China National Cereals, Oils and Foodstuffs Corporation (COFCO), Archer-Daniels-Midland (ADM), Cargill, Inc., CHS Inc., Bunge, Glencore, Louis Dreyfus Company; Ardent Mills, The Scoular Company, Munsa, Nisshin Seifun Group Inc., SENSAKO, The Soufflet Group, Adani Wilmar, and Others. 

 

Years considered for this report:

 

Historical Period: 2015- 2022

Base Year: 2023

Estimated Year: 2024

Forecast Period: 2025-2034

 

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Objective of the Study: 

 

• To assess the demand-supply scenario of Wheat which covers production, demand and supply of Wheat market in the globe.

• To analyse and forecast the market size of Wheat   

• To classify and forecast Global Wheat market based on end-use and regional distribution.

• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Wheat market in the globe.

 

To extract data for Global Wheat market, primary research surveys were conducted with Wheat manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Wheat market over the coming years. 

 

ChemAnalyst calculated Wheat demand across the globe by analyzing the volume of Wheat consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst. 

 

 

Key Target Audience:

 

• Wheat manufacturers and other stakeholders

• Organizations, forums and alliances related to Wheat distribution

• Government bodies such as regulating authorities and policy makers

• Market research organizations and consulting companies

 

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Wheat manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

 

Report Scope:

 

In this report, Global Wheat market has been segmented into following categories, in addition to the industry trends which have also been detailed below: 

 

Attribute	Details
Market size Volume in 2023	800 million tonnes
Market size Volume in 2034	1298 million tonnes
Growth Rate	CAGR of 4.5% from 2024 to 2034
Base year	2023
Estimated year	2024
Historical Data	2015 – 2022
Forecast period	2025 – 2034
Quantitative units	Demand in million tonnes and CAGR from 2024 to 2034
Report coverage	Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Foreign Trade.
Segments covered	By End-Use: (Food & Beverages, Biofuel, Animal Feed, and Others) By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope	North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Available Customizations:

 

With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.

 

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