Asia-Pacific Wheat Market Size

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.