Wheat Market Expected to Flourish with a CAGR of 3.7% by 2030, According to MarkWide Research

MarkWide Research’s recent report, titled “Wheat Market,” reveals a promising outlook for global growth in the wheat industry. With a projected compound annual growth rate (CAGR) of 3.7% from 2023 to 2030, this market is set to play a pivotal role in the global food and agriculture sectors.

Wheat, a staple crop and a key source of nutrition worldwide, is essential for the production of various food products, including bread, pasta, and breakfast cereals. This press release outlines the key drivers and trends propelling the wheat market’s expansion and provides insights into the factors shaping its dynamic future.

Global Food Demand

The increasing global population and rising food demand are driving the growth of the wheat market. Wheat is a fundamental ingredient in many staple foods, making it a critical component of the world’s food supply. As the population grows, so does the need for wheat production.

The market is poised to benefit from the ever-increasing demand for food.

Processed Food Industry

The processed food industry relies heavily on wheat as a primary ingredient. Wheat flour is used in the production of a wide range of processed foods, from baked goods to convenience foods. As consumer lifestyles become busier, the demand for processed and convenience foods continues to rise.

The market is expected to grow as the processed food industry expands.

Health and Nutrition

Wheat is a significant source of carbohydrates, fiber, and essential nutrients. Consumers are increasingly aware of the nutritional benefits of wheat-based products. Whole wheat options, in particular, are gaining popularity due to their higher fiber content and perceived health benefits.

The market is poised to benefit from the focus on health and nutrition.

Export and Trade

Wheat is a major agricultural export commodity for many countries. International trade in wheat allows regions with surplus production to supply regions with deficits. Wheat export and import markets play a crucial role in ensuring a stable global food supply.

The market is expected to grow as international trade in wheat continues.

Market Regional Analysis

• North America: North America leads the wheat market, with the United States and Canada being major wheat producers and exporters.
• Europe: Europe is experiencing steady growth in the wheat market, with a focus on sustainable and quality wheat production.
• Asia-Pacific: Asia-Pacific is emerging as a key growth region, driven by a rising population and increased wheat consumption.
• Latin America and Middle East: These regions are witnessing growth in the wheat market, fueled by changing dietary preferences and urbanization.

Competitive Landscape

The wheat market features a competitive landscape with numerous agricultural producers, milling companies, and food manufacturers. Market leaders are investing in research and development to improve wheat varieties, increase yield, and enhance sustainability. Notable companies and organizations in the market include:

• Archer Daniels Midland Company
• Cargill, Incorporated
• Bunge Limited
• Dreyfus Company
• Conagra Brands, Inc.
• General Mills, Inc.
• Buhler Group
• GrainCorp Limited
• The International Grains Council
• United Nations Food and Agriculture Organization (FAO)

Conclusion

The wheat market is on an upward trajectory, driven by global food demand, the processed food industry, health and nutrition trends, and international trade. With a projected CAGR of 3.7% from 2023 to 2030, this market is well-poised to continue playing a vital role in the global food and agriculture sectors.