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Global Wheat Market is Expected to Grow at a CAGR of 5.3% in the Forecast Period of 2023-2028

According to a new report by EMR titled, ‘Global Wheat Market Report and Forecast 2023-2028’, the global wheat market reached a consumption value of around USD 153.2 billion in 2022. The market is likely to increase at a CAGR of 5.3% in the forecast period of 2023-2028.

The global wheat market is being significantly supported by the growth of the wheat starch market. The major regions that produce significant volumes of wheat starch are the United States, the Netherlands, France, the United Kingdom, Australia, Canada, China, and Japan, among others. Europe is a leading producer of wheat starch. The region also witnesses a healthy wheat output. India and China are also major wheat producing nations.

 

Wheat is considered to be a staple food product in many Asian as well as Middle Eastern countries. Wheat is one of the most significant staple crops in temperate zones and is witnessing an increasing demand in nations experiencing rapid industrialisation and urbanisation.

 

In 2020, a significant player in the industry and a major starch producer, Archer Daniels Midland Company (NYSE: ADM) joined hand with General Starch Limited (GSL), another leading starch producer in Thailand. These two companies together will expand their speciality as well as clean label starch portfolio. In 2020, another major producer of wheat starch, Cargill announced its investments of nearly USD 22.5 million in its production facility in Netherlands in order to increase its productivity, which will boost the consumer demand for convenience food. These developments are expected to affect the wheat industry positively.

 

Market Analysis by Types, Applications, and Regions:

  • The major types of wheat include whole/raw and flour, among others.
  • The major applications include feed, food, and biofuel, among others.
  • The regional markets for wheat include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Key Findings of the Report:

  • The growing food industry is aiding the wheat industry growth.
  • The rising population, especially the middle-class is driving the market growth further.
  • The increased purchasing power of the consumers is also propelling the market growth further, especially in developing nations like India and China.
  • The rising urbanisation and globalisation have led to an increased trend of processed food, which is driving the wheat market further.
  • The popularity of wheat as a staple food in India as well as some other Middle Eastern countries is driving the demand growth further.
  • The growing popularity of gluten-free and low-calorie food is aiding the market growth.
  • The increasing application in personal care products and animal feed is fuelling the market growth.

 

Key Offerings of the report:

  • The EMR report gives an overview of the global wheat market for the periods (2018-2022) and (2023-2028).
  • The report also offers the historical (2018-2022) and forecast (2023-2028) markets for the major regions, types, and applications of the product.
  • The EMR report provides a cost as well as a value chain analysis of the market.
  • It looks into the regional historical (2018-2022) and forecast (2023-2028) price trends of wheat.
  • A trade data analysis has also been provided within the report, covering the volume and value of the major importing and exporting countries.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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