Wheat Market Size to grow by USD 73.16 billion between 2024-2028
According to a research report “ Wheat Market” by Application (Human, Feed ) Type (Hard red winter, Hard red spring, Soft red winter, Others ) Geography (APAC, Europe, Middle East and Africa, North America, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 73.16 billion, at a CAGR of 4.54% during the forecast period. The global vegan population is expanding at an accelerated rate, driven by the rising awareness and adoption of plant-based diets. Particularly noteworthy is the increasing preference for wheat-based protein supplements, fueled by the veganism trend. Millennials, in countries such as the US, Canada, and Mexico, are leading this shift, with a growing number opting for veganism. This trend is anticipated to persist, as health-conscious consumers seek sustainable and ethical sources of nutrition. The demand for wheat-based protein supplements is poised to surge, offering significant growth opportunities for businesses in this sector.
Browse market data tables, figures, and in-depth TOC on “Wheat Market” by Application (Human, Feed ) Type (Hard red winter, Hard red spring, Soft red winter, Others ) Geography (APAC, Europe, Middle East and Africa, North America, South America) Global Forecast to 2028. Download Free Sample
By Application, the Human segment is projected to dominate the market size in 2024
Hard red winter wheat is a highly sought-after variety in the global agricultural market, with the United States being a significant producer. This wheat type, recognized for its reddish husk, is favored by home flour millers for its superior taste compared to white wheat alternatives. With a protein content of approximately 10.5% and a higher gluten level than spring wheat variants, hard red winter wheat is a versatile general-purpose grain. Additionally, it offers essential nutrients such as dietary fiber, selenium, and manganese, contributing to optimal metabolism and overall health. Winter wheat's larger yield of berries, coupled with its rich nutritional profile, makes it an indispensable commodity in the wheat market.
By Type, Hard red winter segment is expected to hold the largest market size for the year 2024
Wheat is a crucial commodity in the global food industry, serving as a primary source of carbohydrates in the form of starch for humans. This cereal grain is rich in essential and beneficial nutrients, including protein, vitamins, soluble fiber, and phytochemicals. Consequently, wheat is extensively consumed as a staple food in numerous countries and is also a key ingredient in food processing industries. Products derived from wheat, such as refined wheat flour (all-purpose flour), pasta, noodles, and beverages like wheat beer and malted milk, hold significant market value in the food sector.
APAC is forecasted to hold the largest market size by region in 2024
The Asia-Pacific (APAC) region is the world's largest and fastest-growing market for wheat production and consumption. China, a key player in this market, is the world's largest consumer of wheat, utilizing it to produce various noodles, dumplings, buns, and pastries that are integral to the country's culinary traditions. India, another significant contributor, primarily uses wheat to make roti or chapati, a staple food item in northern states. The demand for wheat in APAC is projected to surge due to increasing consumer awareness regarding the health benefits of wheat-based protein supplements.
The Wheat Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The wheat market is a significant player in the agriculture industry, with applications ranging from livestock feed to food production. The animal feed sector relies heavily on wheat as a primary source of carbohydrates for livestock, including poultry and cattle. Wheat is also used in producing essential nutrients like Corn Flour and Rice Flour for various industries. However, ensuring food safety regulations are met is crucial, with mycotoxin levels and pesticide residues being closely monitored. Companies like Archer-Daniels-Midland lead innovation in the sector, employing gene editing and marker-assisted selection in plant breeding. Wheat farming associations and innovation centers collaborate to improve farming practices and develop new varieties. Wheat's versatility extends to food production, with applications in brewing, baking, and pastry products. The Brewers Association and craft breweries utilize wheat to create popular beverages like wheat beers. Meanwhile, the bakery industry uses wheat flour to create a wide range of baked goods. The Ministry of Agriculture sets food safety regulations, ensuring organic food products meet specific standards. In the energy sector, wheat is used for bioethanol production, while in the protein industry, it is a key ingredient in livestock diets. Overall, the wheat market is a dynamic and essential sector that continues to innovate and adapt to changing consumer demands.
Market Research Overview
Wheat is a crucial commercial crop and a major grain food source, occupying approximately 220 million hectares of land area worldwide. As a staple crop, it provides essential nutrients, including protein and carbohydrates, for human consumption. Cereal grains like wheat are used to make various food items, such as flatbread, bread, rice, noodles, pasta, and beverages. The consumption of wheat is sensitive to weather uncertainties, making production a significant concern for both consumers and wheat producers. The B2C segment of the wheat market includes food products for human consumption, such as baked goods, pasta, and beverages. In contrast, the B2B sector caters to industries like construction materials, cosmetics, starch, biofuels, and the animal feed sector. The latter uses wheat as a primary ingredient for livestock diets, with poultry and dairy being the primary consumers. Wheat production faces challenges due to mycotoxin levels and pesticide residues, necessitating strict food safety regulations. Companies like Archer-Daniels-Midland invest in innovation centers and collaborate with plant breeders to develop new wheat varieties using gene editing and marker-assisted selection. The wheat farming associations also play a crucial role in ensuring sustainable farming practices and addressing consumer concerns, such as gluten allergies and health consciousness. In addition to food applications, wheat is used in various industries, including the brewing sector, with craft breweries and the Brewers Association producing wheat beers. The essential nutrients in wheat are also used in pastry products and bakery items, making it a versatile crop with a wide range of applications.
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