Asia-Pacific Wheat Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 72.33 Billion |
| Market Size (2029) | USD 83.84 Billion |
| CAGR (2024 - 2029) | 3.00 % |
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Asia-Pacific Wheat Market Analysis
The Asia-Pacific Wheat Market size is estimated at USD 72.33 billion in 2024, and is expected to reach USD 83.84 billion by 2029, growing at a CAGR of 3% during the forecast period (2024-2029).
- The wheat production in the Asia Pacific region was 372.8 million metric tons in 2021. China and India dominate Asia-Pacific wheat production. In addition, they are also the primary wheat consumers in the region. It is the largest cultivated commercial crop in terms of arable land and is the most critical grain source for people.
- In India, wheat production increased in 2021. The high increase in the minimum support price of 20% since 2018 and government procurement are the two key factors contributing to the large growth in the area under wheat cultivation in India in 2021.
- The animal sector is one of the major wheat end-users in the Asia-Pacific region. For instance, according to the USDA, the human consumption of wheat is expected to remain stable at 3.3 million metric tons in 2021. Around 6 million metric tons in eastern Australia are expected to be used as animal feed.
- The other drivers, like rising health consciousness among consumers and as an alternative to meat products and wheat as a popular feed crop for animals, are contributing to the market's steady growth. Industries frequently utilize poor-quality grain to produce adhesives, paper additives, and alcohol.
Asia-Pacific Wheat Market Trends
The Increasing Demand for Wheat Protein
- The demand for wheat protein is increasing due to the rising health consciousness among consumers and as an alternative meat product. Additional factors, like increased protein intake by athletes for muscle gain and to increase strength, drive the wheat protein market, encouraging wheat production in this region.
- The animal feed industry has been a significant user of wheat proteins, especially vital wheat gluten, due to its functionality as a binder and alternative to fish- and animal-based feeds. Vital wheat gluten is a protein-rich powder obtained from wheat flour by washing the dough with water until the starch and other components are removed, leaving behind a concentrated form of wheat protein.
- The companies focus on product innovations and partnerships as key strategies to build their position in the market. For instance, in September 2021, ADM supplemented its product offering by introducing a range of wheat proteins, including Prolite MeatTEX textured wheat protein and Prolite MeatXT non-textured wheat protein.
- The demand for wheat gluten is increasing due to the change in consumers' eating habits. Health issues and disorders like diabetes, cholesterol, blood pressure, etc., are growing in all age groups. Due to increasing awareness about healthy living and nutritional food, consumers prefer organic and natural food. This increased preference for wheat protein and increased production of wheat in the region from 347.1 million metric tons in 2018 to 372.8 million metric tons in 2021 are the factors that increased the market value of the region's wheat protein value from USD 325 million in 2018 to USD 399.8 million in 2021.
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China is the Largest Producer of Wheat
- In Asia - the Pacific region, India and China occupy the major cultivated area in the region with 31.1 million ha and 23.5 million ha. Even though India has the largest area under wheat cultivation, China has higher wheat production due to improved seed availability. For instance, China produced 136.9 million metric tons, and India produced 109.5 million tons of wheat in 2021.
- Wheat is one of the most important staple foods of the Chinese population, accounting for 40% of grain consumption in the country. The growers are expected to cultivate more wheat during the forecast period to compensate for the deficit in production and demand for wheat due to the war between Ukraine and Russia. Therefore, factors such as an increase in growers' income are expected to drive the growth of the wheat segment during the forecast period.
- In China, more than 95% of wheat is sown in the autumn. It is cultivated extensively in China's Yellow and Huai River valleys, where the crop is rotated with maize. Sumai 3, a major wheat variety selected by breeders for its desirable characteristics, is used globally to improve scab resistance. Hence, the varieties with resistance to major infestations are expected to grow.
- Even after being the largest wheat producer, China still has to import wheat to meet wheat consumption in the nation. China imported around USD 1.3 million in wheat in 2021, which increased from USD 1.1 million in 2020. This indicates that Chinese wheat imports will likely increase during the forecast period.
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Asia-Pacific Wheat Market News
- February 2022: Limagrain launched the First CoAXium Soft White Winter wheat variety with high yield potential, good straw strength, and very good tolerance to wheat streak mosaic virus and stripe rust.
- October 2022: BASF and its commercial partner Seednet released two new wheat varieties, Kingston and Reilly, for the 2023 season to the Australian market. Kingston wheat has high-end yield potential and grain quality, exceptional straw strength, and outstanding lodging resistance. In contrast, Reilly wheat offers excellent grain quality and exceptional resistance to all the major pathotypes of stripe rust.
- July 2021: BASF introduced Ideltis as the seed brand name for its future hybrid wheat to enable higher and more stable performance in yield and quality for farmers.
Asia-Pacific Wheat Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain/Supply Chain Analysis
5. MARKET SEGMENTATION
5.1 Geography
5.1.1 India
5.1.1.1 Production Analysis
5.1.1.2 Consumption Analysis and Market Value
5.1.1.3 Import Market Analysis (Volume and Value)
5.1.1.4 Export Market Analysis (Volume and Value)
5.1.1.5 Price Trend Analysis
5.1.2 China
5.1.2.1 Production Analysis
5.1.2.2 Consumption Analysis and Market Value
5.1.2.3 Import Market Analysis (Volume and Value)
5.1.2.4 Export Market Analysis (Volume and Value)
5.1.2.5 Price Trend Analysis
5.1.3 Japan
5.1.3.1 Production Analysis
5.1.3.2 Consumption Analysis and Market Value
5.1.3.3 Import Market Analysis (Volume and Value)
5.1.3.4 Export Market Analysis (Volume and Value)
5.1.3.5 Price Trend Analysis
5.1.4 Australia
5.1.4.1 Production Analysis
5.1.4.2 Consumption Analysis and Market Value
5.1.4.3 Import Market Analysis (Volume and Value)
5.1.4.4 Export Market Analysis (Volume and Value)
5.1.4.5 Price Trend Analysis
5.1.5 Pakistan
5.1.5.1 Production Analysis
5.1.5.2 Consumption Analysis and Market Value
5.1.5.3 Import Market Analysis (Volume and Value)
5.1.5.4 Export Market Analysis (Volume and Value)
5.1.5.5 Price Trend Analysis
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
Asia-Pacific Wheat Industry Segmentation
Wheat is a grass widely cultivated for its seed, a cereal grain that is a worldwide staple food. It yields fine white flour used chiefly in bread, baked goods (such as cakes and crackers), and pasta (such as macaroni or spaghetti), and is important in animal feeds.
The Asia-Pacific Wheat market is segmented by geography into India, China, Japan, Australia, and the Rest of Pakistan. The report includes production analysis (volume), consumption analysis (value and volume), export analysis (value and volume), import analysis (value and volume), and price trend analysis.
The report offers data in terms of Value (USD) and Volume (Metric Ton) for the above-mentioned segments.
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Asia-Pacific Wheat Market Research FAQs
How big is the Asia-Pacific Wheat Market?
The Asia-Pacific Wheat Market size is expected to reach USD 72.33 billion in 2024 and grow at a CAGR of 3% to reach USD 83.84 billion by 2029.
What is the current Asia-Pacific Wheat Market size?
In 2024, the Asia-Pacific Wheat Market size is expected to reach USD 72.33 billion.
What years does this Asia-Pacific Wheat Market cover, and what was the market size in 2023?
In 2023, the Asia-Pacific Wheat Market size was estimated at USD 70.22 billion. The report covers the Asia-Pacific Wheat Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Wheat Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
APAC Wheat Industry Report
Statistics for the 2024 APAC Wheat market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. APAC Wheat analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
APAC Wheat Market Report Snapshots
