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Wheat Market

Global Wheat Market Size, Share, Growth, Trends, Forecast: By Type: Whole/Raw, Flour, Others; By Application: Feed, Food, Biofuel, Others; Regional Analysis; Market Dynamics: SWOT Analysis: Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Value Chain Analysis; Price Analysis; Competitive Landscape; 2024-2032

Global Wheat Market Outlook

The global wheat market size reached a consumption value of around USD 161.32 billion in 2023. The consumption is expected to grow at a CAGR of 5.3% in the forecast period of 2024-2032.

 

Wheat is an essential type of cereal cultivated in temperate regions, the grain of which is crushed to produce flour for making products like bread, pasta, and pastry, among others. Wheat is cultivated in a larger area when compared to other crops and is also a major source of carbohydrates. In addition, it is rich in major nutrients like protein, dietary fibre, manganese, phosphorus, and vitamin B.

 

Wheat belongs to the genus Triticum and includes several species, the most commonly cultivated being common wheat (Triticum aestivum). It is an annual plant, typically harvested in the temperate regions of the world. Wheat has been cultivated for over 10,000 years and was one of the first crops to be domesticated in the Near East's Fertile Crescent. It played a key role in the development of ancient civilisations.

 

Wheat is rich in carbohydrates, making it an important energy source. It also contains protein, dietary fibre, and various vitamins and minerals like B vitamins, iron, and magnesium. As a major food crop, wheat is crucial to the global food supply. It is traded internationally and has a significant impact on the world's economy. The price and availability of wheat can affect food prices and security worldwide.

 

wheat market

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China, India, and Russia are Leading the Market in Terms of Wheat Production

The major wheat-producing regions include the European Union, China, India, Russia, and the United States, with the European Union accounting for a fifth of the total global wheat output. Russia, along with the European Union, the United States, Canada, and Australia exports large volumes of the crop to other regions. Russia is the leading exporter of the crop, accounting for nearly 18.5% of the total global exports of the crop. The output level especially in Russia and the European Union is rising owing to consumption growth and low harvest in the United States. The growing end-use sectors in Southeast Asia and potential export growth in Russia are providing a push to production growth and boosting the supply share globally.

 

The major consuming regions for wheat include the European Union, accounting for nearly 45% of the global consumption. Other major consumers of wheat include China, India, Russia, and the United States. The European Union also imports wheat to meet the regional wheat demand. Egypt, Indonesia, Brazil, and Algeria are among the major importing regions.

 

The global wheat market demand is being aided by the growing wheat starch market, which reached a volume of around 5 million metric tons in 2020. The starch market is likely to witness steady growth in the coming years, which is expected to further propel the demand for wheat. The major wheat starch-producing regions are France, the United States, the Netherlands, the United Kingdom, Australia, Belgium, Canada, China, and Japan.

 

Global Wheat Market Segmentation

The market for wheat, based on type, is divided into:

  • Whole/Raw
  • Flour
  • Others

 

Flour occupies a substantial portion of the wheat market share. As the global population increases, the demand for basic food items like wheat flour typically rises. This is because wheat flour is a staple ingredient in many diets around the world. Changes in dietary trends can significantly impact wheat flour demand. For instance, a rise in the popularity of baking or an increased preference for wheat-based products can drive up demand.

 

The supply of wheat is heavily dependent on agricultural conditions, such as weather patterns, climate change, and farming practices. A good harvest can lead to increased supply and potentially lower prices, boosting demand. Government decisions regarding agriculture can also increase the overall wheat flour demand.

 

wheat market by segments

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Based on application, the market is segmented into:

  • Feed
  • Food
  • Biofuel
  • Others

 

Biofuel is also expected to witness considerable growth in the market in the coming years. The use of wheat as a biofuel primarily revolves around the production of bioethanol, a renewable energy source. Wheat-based ethanol is renewable and can help reduce dependence on fossil fuels. Burning wheat ethanol produces fewer greenhouse gases compared to conventional fuels, thus contributing to reduced environmental impact. In regions with surplus wheat production, converting wheat to bioethanol can provide an alternative market for farmers.

 

Additionally, research is ongoing to improve the fermentation and distillation processes, making wheat ethanol production more efficient and cost-effective. Developing wheat strains that yield more biomass or have a higher starch content can enhance the viability of wheat as a biofuel source.

 

The EMR report also covers the regional markets of wheat like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Growing Food Demand to Drive the Market Growth

The global wheat market growth is being driven by the demand from the food sector, which is rapidly growing across all the regions with the increasing disposable income of the population, especially in developing nations like India and China. With globalisation, the prevalence of processed food has seen a faster growth and, thus, is driving the demand for wheat. The crop is a staple food product in many regions, especially in India, among other Asian countries.

 

The growing demand for the product is being aided by the rapidly rising population, which has an increasing demand for both wheat and its starch. The global wheat market is being driven by the growing starch market. The demand for wheat starch has been witnessing a healthy growth for many years and the growth is likely to be more in the coming years, owing to the increasing popularity of processed food.

 

Wheat starch is also in demand among health-conscious people due to the product being gluten-free and low in calorie content. Additionally, wheat also provides protein, vitamin B, dietary fibre, and phytochemicals. The increasing demand for personal care products including dry shampoo, cleansers, and lotions, is further pushing the wheat starch market, and thus, driving the overall wheat market growth.

 

The growing demand for animal feed is also providing an impetus to the market. The demand for processed flour is also rising due to the growing food and beverage sector. The increasing utilisation of wheat in the production of processed foods owing to its unique viscoelastic and adhesive properties is likely to aid the market.

 

The increasing import and export of wheat are accelerating the market development. Also, the government initiatives to boost the production of wheat in order to make the country self-sufficient and improve food security are some of the crucial wheat market trends aiding the market expansion. For instance, the National Food Security Mission (NFSM) in India aims to increase the production of wheat and other food grains through productivity enhancement and soil fertility restoration. The efforts taken to provide novel and improved crop production technologies and the distribution of high-yielding varieties/hybrid seeds are expected to augment the market growth over the forecast period.

 

Global Wheat Market By Region

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Global Wheat Market Analysis

The wheat market is a critical segment of the global agricultural economy, influenced by a range of factors. Wheat is one of the world's most produced cereals, alongside rice and maize. The top wheat-producing countries typically include China, India, Russia, the United States, and France. These countries' production levels significantly influence global supply.

 

Wheat is a staple food for over a third of the world's population, making its consumption patterns crucial to global food security. It is primarily used for human consumption, in forms like bread, pasta, noodles, and other processed foods. A smaller proportion is used for animal feed and industrial purposes.

 

Major exporters of wheat typically include Russia, the United States, Canada, France, and Ukraine. Many countries, especially in the Middle East and Africa, rely heavily on wheat imports to meet their consumption needs.

 

Key Players in the Global Market for Wheat

The report gives a detailed analysis of the following key players in the global wheat market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

 

  • Nisshin Flour Milling INC.
  • Siemer Milling Company
  • Miller Milling Company
  • Grain Craft
  • General Mills
  • ITC Limited
  • Ardent Mills
  • Farm Fresh Wheat
  • Sunnyland Mills
  • Bay State Milling Company
  • Others

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

Report Features Details
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Application
  • Region
Breakup by Type
  • Whole/Raw
  • Flour
  • Others
Breakup by Application
  • Feed
  • Food
  • Biofuel
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Trade Data Analysis
  • Major Exporting Countries
    • By Value
    • By Volume
  • Major Importing Countries
    • By Value
    • By Volume
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Competitive Landscape
  • Nisshin Flour Milling INC.
  • Siemer Milling Company
  • Miller Milling Company
  • Grain Craft
  • General Mills
  • ITC Limited
  • Ardent Mills
  • Farm Fresh Wheat
  • Sunnyland Mills
  • Bay State Milling Company
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*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.

1    Preface    
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions 
5    Executive Summary 

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Wheat Market Analysis 

    8.1    Key Industry Highlights
    8.2    Global Wheat Historical Production (2018-2023) 
    8.3    Global Wheat Production Forecast (2024-2032)
    8.4    Global Wheat Historical Consumption (2018-2023) 
    8.5    Global Wheat Consumption Forecast (2024-2032)
    8.6    Global Wheat Market by Type
        8.6.1    Whole/Raw
            8.6.1.1    Historical Trend (2018-2023) 
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Flour
            8.6.2.1    Historical Trend (2018-2023) 
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Others
    8.7    Global Wheat Market by Application 
        8.7.1    Feed
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Food
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Biofuel
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Others
    8.8    Global Wheat Market by Region
        8.8.1    North America
            8.8.1.1    Historical Production (2018-2023) 
            8.8.1.2    Production Forecast (2024-2032)
            8.8.1.3    Historical Consumption (2018-2023) 
            8.8.1.4    Consumption Forecast (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Production (2018-2023) 
            8.8.2.2    Production Forecast (2024-2032)
            8.8.2.3    Historical Consumption (2018-2023) 
            8.8.2.4    Consumption Forecast (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Production (2018-2023) 
            8.8.3.2    Production Forecast (2024-2032)
            8.8.3.3    Historical Consumption (2018-2023) 
            8.8.3.4    Consumption Forecast (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Production (2018-2023) 
            8.8.4.2    Production Forecast (2024-2032)
            8.8.4.3    Historical Consumption (2018-2023) 
            8.8.4.4    Consumption Forecast (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Production (2018-2023) 
            8.8.5.2    Production Forecast (2024-2032)
            8.8.5.3    Historical Consumption (2018-2023) 
            8.8.5.4    Consumption Forecast (2024-2032)
9    North America Wheat Market Analysis
    9.1    Market by Type 
    9.2    Market by Application
    9.3    Market by Country
        9.3.1    United States of America 
            9.3.1.1    Historical Trend (2018-2023) 
            9.3.1.2    Forecast Trend (2024-2032)
        9.3.2    Canada
            9.3.2.1    Historical Trend (2018-2023) 
            9.3.2.2    Forecast Trend (2024-2032)
10    Europe Wheat Market Analysis
    10.1    Market by Type
    10.2    Market by Application
    10.3    Market by Country
        10.3.1    United Kingdom
            10.3.1.1    Historical Trend (2018-2023) 
            10.3.1.2    Forecast Trend (2024-2032)
        10.3.2    Germany
            10.3.2.1    Historical Trend (2018-2023) 
            10.3.2.2    Forecast Trend (2024-2032)
        10.3.3    France
            10.3.3.1    Historical Trend (2018-2023) 
            10.3.3.2    Forecast Trend (2024-2032)
        10.3.4    Italy
            10.3.4.1    Historical Trend (2018-2023) 
            10.3.4.2    Forecast Trend (2024-2032)
        10.3.5    Others
11    Asia Pacific Wheat Market Analysis
    11.1    Market by Type
    11.2    Market by Application
    11.3    Market by Country
        11.3.1    China
            11.3.1.1    Historical Trend (2018-2023) 
            11.3.1.2    Forecast Trend (2024-2032)
        11.3.2    Japan
            11.3.2.1    Historical Trend (2018-2023) 
            11.3.2.2    Forecast Trend (2024-2032)
        11.3.3    India
            11.3.3.1    Historical Trend (2018-2023) 
            11.3.3.2    Forecast Trend (2024-2032)
        11.3.4    ASEAN
            11.3.4.1    Historical Trend (2018-2023) 
            11.3.4.2    Forecast Trend (2024-2032)
        11.3.5    South Korea
            11.3.5.1    Historical Trend (2018-2023) 
            11.3.5.2    Forecast Trend (2024-2032)
        11.3.6    Australia
            11.3.6.1    Historical Trend (2018-2023) 
            11.3.6.2    Forecast Trend (2024-2032)
        11.3.7    Others
12    Latin America Wheat Market Analysis
    12.1    Market by Type
    12.2    Market by Application
    12.3    Market by Country
        12.3.1    Brazil
            12.3.1.1    Historical Trend (2018-2023) 
            12.3.1.2    Forecast Trend (2024-2032)
        12.3.2    Argentina
            12.3.2.1    Historical Trend (2018-2023) 
            12.3.2.2    Forecast Trend (2024-2032)
        12.3.3    Mexico
            12.3.3.1    Historical Trend (2018-2023) 
            12.3.3.2    Forecast Trend (2024-2032)
        12.3.4    Others
13    Middle East and Africa Wheat Market Analysis
    13.1    Market by Type
    13.2    Market by Application
    13.3    Market by Country
        13.3.1    Saudi Arabia
            13.3.1.1    Historical Trend (2018-2023) 
            13.3.1.2    Forecast Trend (2024-2032)
        13.3.2    United Arab Emirates
            13.3.2.1    Historical Trend (2018-2023) 
            13.3.2.2    Forecast Trend (2024-2032)
        13.3.3    Nigeria
            13.3.3.1    Historical Trend (2018-2023) 
            13.3.3.2    Forecast Trend (2024-2032)
        13.3.4    South Africa
            13.3.4.1    Historical Trend (2018-2023) 
            13.3.4.2    Forecast Trend (2024-2032)
        13.3.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Trade Data Analysis (HS Code - 1001)

    16.1    Major Importing Countries
        16.1.1    By Volume
        16.1.2    By Value
    16.2    Major Exporting Countries
        16.2.1    By Volume
        16.2.2    By Value
17    Price Analysis
    17.1    North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
    17.2    Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
    17.3    Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
    17.4    Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
    17.5    Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
18    Competitive Landscape 
    18.1    Market Structure
    18.2    Company Profiles
        18.2.1    Nisshin Flour Milling INC.
            18.2.1.1    Company Overview
            18.2.1.2    Product Portfolio
            18.2.1.3    Demographic Reach and Achievements
            18.2.1.4    Certifications
        18.2.2    Siemer Milling Company
            18.2.2.1    Company Overview
            18.2.2.2    Product Portfolio
            18.2.2.3    Demographic Reach and Achievements
            18.2.2.4    Certifications
        18.2.3    Miller Milling Company
            18.2.3.1    Company Overview
            18.2.3.2    Product Portfolio
            18.2.3.3    Demographic Reach and Achievements
            18.2.3.4    Certifications
        18.2.4    Grain Craft
            18.2.4.1    Company Overview
            18.2.4.2    Product Portfolio
            18.2.4.3    Demographic Reach and Achievements
            18.2.4.4    Certifications
        18.2.5    General Mills
            18.2.5.1    Company Overview
            18.2.5.2    Product Portfolio
            18.2.5.3    Demographic Reach and Achievements
            18.2.5.4    Certifications
        18.2.6    ITC Limited
            18.2.6.1    Company Overview
            18.2.6.2    Product Portfolio
            18.2.6.3    Demographic Reach and Achievements
            18.2.6.4    Certifications
        18.2.7    Ardent Mills
            18.2.7.1    Company Overview
            18.2.7.2    Product Portfolio
            18.2.7.3    Demographic Reach and Achievements
            18.2.7.4    Certifications
        18.2.8    Farm Fresh Wheat
            18.2.8.1    Company Overview
            18.2.8.2    Product Portfolio
            18.2.8.3    Demographic Reach and Achievements
            18.2.8.4    Certifications
        18.2.9    Sunnyland Mills
            18.2.9.1    Company Overview
            18.2.9.2    Product Portfolio
            18.2.9.3    Demographic Reach and Achievements
            18.2.9.4    Certifications
        18.2.10    Bay State Milling Company
            18.2.10.1    Company Overview
            18.2.10.2    Product Portfolio
            18.2.10.3    Demographic Reach and Achievements
            18.2.10.4    Certifications
        18.2.11    Others
19    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Wheat Market: Key Industry Highlights, 2018 and 2032
2.    Global Wheat Historical Market: Breakup by Type (MMT), 2018-2023
3.    Global Wheat Market Forecast: Breakup by Type (MMT), 2024-2032
4.    Global Wheat Historical Market: Breakup by Application (MMT), 2018-2023
5.    Global Wheat Market Forecast: Breakup by Application (MMT), 2024-2032
6.    Global Wheat Historical Market: Breakup by Region (MMT), 2018-2023
7.    Global Wheat Market Forecast: Breakup by Region (MMT), 2024-2032
8.    North America Wheat Historical Market: Breakup by Country (MMT), 2018-2023
9.    North America Wheat Market Forecast: Breakup by Country (MMT), 2024-2032
10.    Europe Wheat Historical Market: Breakup by Country (MMT), 2018-2023
11.    Europe Wheat Market Forecast: Breakup by Country (MMT), 2024-2032
12.    Asia Pacific Wheat Historical Market: Breakup by Country (MMT), 2018-2023
13.    Asia Pacific Wheat Market Forecast: Breakup by Country (MMT), 2024-2032
14.    Latin America Wheat Historical Market: Breakup by Country (MMT), 2018-2023
15.    Latin America Wheat Market Forecast: Breakup by Country (MMT), 2024-2032
16.    Middle East and Africa Wheat Historical Market: Breakup by Country (MMT), 2018-2023
17.    Middle East and Africa Wheat Market Forecast: Breakup by Country (MMT), 2024-2032
18.    Major Importing Countries by Volume
19.    Major Exporting Countries by Volume
20.    Major Importing Countries by Value
21.    Major Exporting Countries by Value
22.    Global Wheat Market Structure

Key Questions Answered in the Report

The global wheat starch market reached a value of around USD 161.32 billion in 2023.

The market is projected to grow at a CAGR of nearly 5.3% in the forecast period of 2024-2032.

The market is estimated to reach a value of USD 315.69 million by 2032.

The major drivers of the market include the rising disposable incomes, increasing population, and rising demand for low-calorie sweeteners and gluten-free food.

The overall rise in starch production and consumption is expected to be a key trend guiding the growth of the industry.

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

The major types of the product include whole/raw and flour, among others.

The major applications include feed, food, and biofuel, among others.

The leading players in the global wheat market are Nisshin Flour Milling INC., Siemer Milling Company, Miller Milling Company, Grain Craft, General Mills, ITC Limited, Ardent Mills, Farm Fresh Wheat, Sunnyland Mills, and Bay State Milling Company, among others.

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