Press release
Wheat Market Size to Grow at a CAGR of 2.7% in the Forecast Period of 2022-2027
Wheat Market
The report studies the latest updates in the market, along with their impact across the market. It is also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
Wheat Market Share, Size, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 2.7%
Wheat is used as a principal ingredient in various food products which is a driving factor of the global wheat market. Wheat is used in pasta, cookies, pastries, and various bakery and confectionery products. Moreover, wheat is also witnessing a heightened demand for bread, pizza, wafers, etc., which is further escalating the market numbers.
The increasing demand for enriched flour, owing to the presence of additional nutrients, is leading to the heightened incorporation of wheat in baked goods and noodles.
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The growing expansion of the food and beverage industry, fuelled by the rising population, increasing disposable income, and increasing awareness pertaining to the nutritional benefits of wheat is increasing its demand.
In addition, the changing lifestyles of consumers are leading to heightened demand for wheat in order to cope with the daily nutritional requirements of the body.
Over the forecast period, the market is expected to be driven by increasing demand for wheat from the industrial sector for the manufacture of various products such as dextrose, alcohol, gluten, and malt, among others. In addition, it is a crucial ingredient in the production of starch, which is anticipated to see steady demand in the coming years.
Wheat Industry Definition and Major Segments
Wheat is an edible grain that belongs to the family of Poaceae. It is an important traditional cereal crop that is available in numerous varieties. The nutritional profile of wheat includes proteins, carbohydrates, calcium, folate, and magnesium, among others. It is extensively used in the food and beverage industry which is why the global wheat market is witnessing steady growth.
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Based on type, the market can be segmented into:
• Hard Red Winter (HRW)
• Hard Red Spring (HRS)
• Soft Red Winter (SRW)
• White Wheat
• Durum Wheat
On the basis of application, the market has been classified into:
• Feed
• Food
• Industrial
• Others
Based on region, the market can be categorised into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Wheat Market Trends
The key trends in the global wheat market include the growing research and development activities in the food and beverage industry leading to heightened demand for wheat owing to its cost-effectiveness and food texture-enhancing properties. The development of specialised wheat is growing in popularity, increasing the overall demand for wheat.
The thriving e-commerce industry is a key trend in the market that is fuelling the demand for wheat for household cooking.
The increasing sale of downstream bakery and main course meals based on wheat, via the online food service platforms, is providing impetus to the wheat market. Due to the health benefits of wheat, home chefs and professional chefs frequently experiment with new recipes that utilise wheat.
In regional terms, Asia Pacific accounts for a significant share in the market and is expected to witness a heightened demand in the forecast period.
The growing domestic demand for wheat across emerging economies such as China and India is propelling the demand for the product. Europe is another significant market for wheat with Russia accounting for significant production capacities.
Key Market Players
The major players in the wheat market report include:
Cargill, Incorporated
Archer Daniels Midland Company
Roquette Frères
The Tereos Group
Tate and Lyle PLC
AGRANA Beteiligungs-AG
Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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