Wheat Market is expected to grow with a CAGR 2.5% from 2022 to 2028
As stated in our extensive report; providing insights by segments i.e., Type, Application, Distribution Channel and Region; the Global Wheat Market accounted for USD 731.5 Million in the year 2021
“Key Factors Likely to Drive Growth of Wheat Market”
Wheat is one of the fundamental cereal grains produced and consumed globally. It is grown on more land than any other commercial crop and remains to be the most important grain food source for human intake. This is likely because of the reality that wheat may be cultivated in many regions with heterogeneous styles of weather, elevation, or soil. Wheat is purchased frequently for intake and increasing shares as a buffer. The consumption share may be used each as human food or as a feed input for livestock production.
The increasing demand for the product is being aided by the swiftly growing population, which has an increasing demand for wheat and its starch. The demand for wheat is higher among the middle-medium population, which influences the enterprise substantially. The worldwide wheat market is being pushed substantially through the developing starch enterprise. The demand for wheat has been witnessing a wholesome increase for many years and increasing popularity for the coming years, as a result of the growing popularity of processed food.
The growing demand for wheat among customers has appreciably accelerated the demand for complete wheat in the past years. The growing awareness concerning the positive health results of fiber-rich ingredients among customers has considerably accelerated the utilization of whole flour across numerous segments of the food industry. The growing perception among customers that organic products are more secure and healthier than confidential ones is further predicted to increase the demand for organic whole flour among the main food manufacturers.
Asia Pacific held the largest market share due to the increase in demand of innovative baked goods which will turn propellant the wheat based flour market growth. South America is also witnessing prominent growth due to the increased discretionary income levels among consumers. Baked foods made by wheat based flour are becoming popular among the millennial population.
Some of the key players in the Global Wheat Market include Farmers Grain Company, Wudeli Flour Mill Group, Ardent Mills LLC, Archer Daniels Midland Company, General Mills, Allied Pinnacle Pty Limited, Manildra Milling Pvt Ltd. Acarsan Flour, Korfez Flour Mills, George Weston Foods Ltd., Hodgson Mill Inc. and others.
Browse the full Report - Wheat Market Size, Share & Trends Analysis Report by Type (Whole/Raw, Flour, Others), by Application (Household, Food and Beverages, Pharmaceutical, Dietary Supplements), by Distribution Channels (Supermarket/Hypermarket, Grocery Stores, Wholesalers, E-Commerce Platform), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)