The global wheat market is experiencing a significant growth, and is expected to continue this trend in next few years. Wheat is consumed as staple food in most of the countries. Wheat is a grass commonly grown for its seed, a cereal grain that is a staple food worldwide. The Triticum genus comprisesseveral types of wheat together, among which the most frequently grown is common wheat (T. aestivum). Botanically the kernel of wheat is a type of fruit known as caryopsis. Wheat is produced on more farmland area than any other type of food crops. World wheat trade is higher than all other types crops combined. Several types of wheat are cultivated and sold in the market such as einkorn wheat, hard white wheat, soft white wheat, hard red winter wheat, hard sprint winter wheat, soft red winter wheat, and durum wheat. The amount of nutrients present in wheat varies by type. The common types of nutrients present in all the types of wheat are protein, thiamin, riboflavin, niacin, vitamin B6, carotene alpha, carotene beta, vitamin A, lutein, zeaxanthin, and minerals include iron, zinc, phosphorus, potassium, and manganese.
COVID-19 scenario analysis
The worldwide outbreak of COVID-19 has led to serious implications in all the economic sectors. The COVID-19 outbreak has created medical emergency, due to which the demand for food items, hygiene products, and medical productsis increasing. Moreover, during this pandemic, the sales of traditional, healthy, and staple food items has increased considerably. Frozen non-veg food, fruits& vegetables, eggs, pulses, flour, and whole grains are further experiencing increased demand. However, nonessential products such as packaged foods, coffee, pastries, milkshakes, sweets, chocolates, cheese, and other bakery products have witnessed decline in their sale. In addition, lockdown imposed across various countries has hampered the production and supply chain of wheat manufacturers. Furthermore, the consumer buying behavior may change permanently post COVID-19. On the contrary, companies have to build robust sales plan for recovery, for instance, they might have to adopt e-commerce platform and omnichannel in their supply chain.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
The key drivers of wheat market areincrease in worldwide consumption of wheat coupled with rise in population. Moreover,increase in health awareness among public has led to rise in consumption of wheat and decline in junk food consumption. Wheat is used to make biscuits, cakes, crumpets, sauces, bread, muffins, noodles, pastries, cereal bars, sweet and savory snack foods, pasta, crackers, crisp-breads, and other confectionery food items, which boost its demand, globally.
The organically grown wheat segment is expected to dominate the date market during the projected years, due to increase in awareness about health benefits offered by organic food.
In addition, wide usage of wheat in food &beverage, cosmetic &personal care, pharmaceutical companies, animal feed, and dietary supplements industry is supporting the market to remain profitable in coming years.Furthermore, wheat meal is now also used for the production of adhesives, bioplastics, and paper.
The global wheatmarket trends are as follows:
New product launches to flourish the market
Manufacturers are engaged in increasing production of wheat to serve the rising demand. New technology in farming techniques and government support accelerate the wheat production. In addition,usage of wheat in the food &beverage industry has increased. For instance, Nestle launched MaggieAtta Noodle to serve to health-conscious customers. In august 2019, Arcadia planned to introduce value-added wheat commercially. It announced to introduce “goodwheat” as retail flour with reduced allergenicity and high protein content in wheat flour.
Key benefits of the report
- This study presents the analytical depiction of the global wheat industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global wheat market share.
- The current market is quantitatively analyzed to highlight the global wheat market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global wheat market research report:
- Which are the leading players active in the global wheatmarket?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
Wheat Market Report Highlights
By Distribution Channel
Key Market Players
Manildra Milling Pvt Ltd. Acarsan Flour, Farmers Grain Company, Wudeli Flour Mill Group, Archer Daniels Midland Company, General Mills, Hodgson Mill Inc., Korfez Flour Mills, Allied Pinnacle Pty Limited, George Weston Foods Ltd., Ardent Mills LLC