The global wheat market is projected to reach a value of USD 270.88 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.28% during the forecast period from 2024 to 2030, according to a new report by Grand View Research, Inc. This growth is being propelled by significant changes in consumer eating patterns, particularly a rapid shift toward healthier and more sustainable food choices. As dietary preferences evolve and more consumers seek out organic food products, the global demand for wheat has intensified due to its versatility and nutritional value.

In addition to organic trends, the rising popularity of processed and convenience foods is contributing significantly to wheat market growth. Consumers, especially in urban areas, are leaning toward time-saving food options such as pre-packaged meals, snacks, and ready-to-cook products. These trends are increasing the consumption of wheat-based ingredients, subsequently boosting wheat production on a global scale.

In 2023, conventional wheat dominated the market in terms of revenue share. The production of conventional wheat relies on the application of synthetic fertilizers and pesticides, which are used to enhance crop yields and ensure consistent output to meet global demand. This method of cultivation also benefits from a robust and well-developed supply chain infrastructure, allowing for efficient distribution and wide accessibility of wheat products across various regions.

The business-to-business (B2B) segment also held a dominant position in the wheat market in 2023. This segment plays a critical role in facilitating commercial transactions within the food and beverage production sector. The food and beverage industry remains one of the largest end-users of wheat, using it as a core ingredient in the manufacturing of items such as bread, pasta, pastries, and breakfast cereals. Businesses such as bakeries and large-scale food processing facilities depend heavily on reliable B2B supply chains to ensure the steady availability of high-quality wheat and its derivatives.

Regionally, the Asia Pacific emerged as the leading market in terms of share. A major contributor to this dominance is the region’s animal husbandry sector, which uses wheat extensively in the formulation of livestock feed. Wheat serves as a valuable energy source for animals such as poultry, cattle, and swine, making it a staple ingredient in balanced and nutrient-rich animal feed. The Asia Pacific region is home to a rapidly growing poultry and dairy industry, and the increasing demand for poultry feed is directly influencing the rise in wheat consumption. Livestock farmers and feed manufacturers in the region continue to rely on wheat to support production efficiency and meet nutritional standards for livestock.

Curious about the Wheat Market? Download your FREE sample copy now and get a sneak peek into the latest insights and trends. 

Wheat Market - Frequently Asked Questions (FAQ)

1. What is the estimated size of the global wheat market?

The global wheat market size is projected to reach USD 270.88 billion by 2030, expanding at a compound annual growth rate (CAGR) of 4.28% from 2024 to 2030.

2. What factors are driving the growth of the wheat market?

Several factors are contributing to the growth of the wheat market, including:

• Changing dietary preferences with a rising demand for organic food products.

• The increasing consumption of processed and convenient foods, which heavily use wheat-based ingredients.

• The growing popularity of wheat as a staple ingredient in various food products like bread, pasta, and breakfast cereals.

3. Which segment is leading the wheat market in terms of revenue?

In 2023, conventional wheat dominated the market in terms of revenue. This type of wheat benefits from high-yield cultivation techniques that use synthetic fertilizers and pesticides, which help meet the global demand for wheat.

4. Which region holds the largest share of the wheat market?

The Asia Pacific region holds the largest share of the global wheat market. This is largely due to the region’s animal husbandry sector, where wheat is widely used as a key ingredient in livestock feed, especially for poultry, cattle, and swine. The growing demand for poultry feed and dairy products is boosting wheat consumption in the region.

5. What challenges does the wheat market face?

The wheat market faces challenges such as:

• Resource depletion due to high global demand and limited availability of high-quality wheat.

• Environmental concerns associated with conventional wheat farming practices, including the use of synthetic fertilizers and pesticides.

6. What is the future outlook for the wheat market?

The wheat market is expected to continue growing due to the rising demand for wheat-based food products and its significant role in the animal feed industry. The market will likely see increased production, particularly in regions like Asia Pacific, to meet growing consumption needs.

Order a free sample PDF of the Wheat Market Intelligence Study, published by Grand View Research.