Wheat Value Chain Analysis Market Size

Wheat Market Analysis

The Wheat Market size is estimated at USD 161.12 billion in 2023, and is expected to reach USD 208.69 billion by 2028, growing at a CAGR of 5.31% during the forecast period (2023-2028).

• Wheat is one of the key global commodities in terms of acreage and tradeable value and is a staple in household diets. Many factors affect wheat prices, including climate, yields, oil prices, lagged prices, and imports. In addition to gradually and consistently increasing global wheat demand, these market drivers are posited to impact world prices and food security. 
• Approximately 21% of the world's food depends on annual wheat crop harvests, which often have relatively low stocks. The developing countries, mostly net wheat importers, consume 77% of the total global wheat production. Accordingly, wheat accounts for approximately 24% of food commodities imported by developing countries.
• The wheat market is much more dispersed than other grain markets, and the countries of the former Soviet Union represent a relatively small share of that market. Hence, the wheat trade restrictions result in a 4% increase in global prices. Wheat has seen a minimal direct impact from the outbreak of the pandemic across the world. As an essential food alongside its staple by-products, flour and bread, any price change minimally affects the demand.
• Countries like the United States, Canada, Australia, China, France, and Russia are major players worldwide in intense wheat trade activities. Hence, over the long term, the increased food security, focus on trade initiatives, and increased participation of the major producing countries are anticipated to drive the growth of the wheat market during the forecast period.