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Report Overview
The global wheat market 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, to reach a value of USD 256.8 billion.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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.
Wheat Market Report Snapshots
Wheat Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the wheat market reached a value of USD 161.32 billion.
The market for wheat is expected to grow at a CAGR of 5.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 256.8 billion 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.
Key trends aiding the market expansion include the increasing focus on sustainable farming methods and the development and adoption of genetically modified wheat varieties.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the significant markets for wheat.
The major types of the product include whole/raw and flour, among others.
The major applications include feed, food, and biofuel, among others.
Key players in the 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, Bay State Milling Company, and Others.
The wheat market demand is being driven by the demand from the food sector, especially in developing nations like India and China.
Unpredictable weather patterns and extreme conditions, increased incidence of pests and diseases, and geopolitical tensions are the key challenges in the market.
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+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124