Wheat Market Size to grow by USD 73.16 billion between 2024-2028
The Wheat Market is segmented by Application (Human and Feed ), Type (Hard red winter, Hard red spring, Soft red winter, and Others ), and Geography (APAC, Europe, Middle East and Africa, North America, and South America). As per the Global Forecast research report 2024-2028 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. There are several companies that are contributing to the market as per this report. Expansion of retail stores offering organic wheat-based supplements .
By Application, the Human segment is projected to dominate the market size in 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.
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By Type, Hard red winter segment is expected to hold the largest market size for the year 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.
Why is APAC forecasted to hold the largest regional market size 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.
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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
According to Technavio's market research, the global wheat market is situated within the broader context of the global packaged foods and meats market, which falls under the food products segment of the food, beverage, and tobacco industry. This market encompasses food processing vendors engaged in food processing to eliminate microbes and enhance shelf life. Technavio determines the market size by aggregating the revenues of the participating vendors. It's important to note that this market excludes manufacturers of food processing equipment and producers of packaged alcoholic and non-alcoholic beverages, including mineral waters. - The Wheat Market is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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