The new report by Expert Market Research titled, 'Global Wheat Market Size, Share, Price, Trends, Report and Forecast 2020-2025′, gives an in-depth analysis of the global wheat market, assessing the market based on its segments like types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2015-2025)
- Historical Market Size (2019): 734.7 million metric tons
- Forecast CAGR (2020-2025): 2.7%
- Forecast Market Size (2025): 861.5 million metric tons
The market is driven by the growing food industry, along with the proliferation of the global population. Other factors, such as rapid urbanisation, increasing disposable incomes, and changing lifestyles, which has led to the trend of eating out in the recent years, have influenced the market positively. Wheat is a staple food product in several regions, particularly in India and among other Asian countries. Further, as the product is in high demand within the middle-class population, the industry is propelled further. Due to rapid globalisation, the market for processed food has grown significantly. Thereby, the market for wheat is expected to grow rapidly in the forecast period.
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Industry Definition and Major Segments
Wheat is the essential cereal, which is cultivated in temperate regions. The grains of the crop is crushed to produce flour for making food products like pasta, bread, and pastry, among others. Wheat is also a staple food in many regions.
On the basis of type, the market is divided into:
- Hard Red Winter (HRW)
- Hard Red Spring (HRS)
- Soft Red Winter (SRW)
- White Wheat
- Durum Wheat
The hard red winter (HRW) is the dominating type of wheat, which accounts for about 40% of the total production of the crop. This can be attributed to its major use in bread production.
By application, the industry is segmented into:
Regionally, the market can be segmented into:
- North America
- Latin America
- Middle East and Africa
- Asia Pacific
The market is expected to be defined by the emerging trends, such as the rising food industry, innovations in food products, rising trend of buying processed food products due to busy lifestyles, growing awareness of the benefits of wheat, and increasing demand for personal care products.
Further, the rising awareness of people regarding wheat is expected to strengthen the market in the forecast period. Wheat starch is observing high demand due to the growing demand for gluten-free and low-calorie content products. These products are also in demand due to emerging diets by nutritionists on various platforms. The popularisation of such diets is aiding the growing demand for wheat and its products.
Key Market Players
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of the market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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