June 2025
The global wheat market size stood at USD 202.05 billion in 2024 with projections indicating a rise from USD 210.74 billion in 2025 to approximately USD 307.82 billion by 2034, expanding at a CAGR of 4.30% throughout the forecast period from 2025 to 2034. The growing shift towards improved agricultural productivity and significant efforts for sustainable agriculture practices make wheat crop production of the utmost importance.
Study Coverage | Details |
Growth Rate from 2025 to 2034 | CAGR of 4.30% |
Market Size in 2025 | USD 210.74 Billion |
Market Size in 2026 | USD 219.80 Billion |
Market Size by 2034 | USD 307.82 Billion |
Largest Market | Asia Pacific |
Base Year | 2024 |
Forecast Period | 2025 to 2034 |
Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Wheat production in the rabi season is expected to reach 115.43 million tonnes in the year 2024-25. According to the Ministry of Agriculture and Farmers' Welfare, India achieved the production of rice, wheat, and maize in the period 2024-25 in the Kharif season. In June 2024, the UK Flour Millers published an online wheat guide that can be used by farmers and agronomists to know the preferences of miller varieties. India is the biggest wheat consumer and grower in the world after China. It is expected that India will produce 105 million metric tons of wheat in 2024. Wheat is one of the most important grains in the world and requires high environmental costs. According to the National Research Institute for Agriculture, Food and Environment (INRAE) of France and researchers at the Technical University of Munich (TUM), new varieties of wheat can produce higher yields with the same amount of nitrogen fertilizer.
The Global Wheat Consumption (1,000 metric tons) in September 2024-25 by the U.S. Department of Agriculture (USDA), Economic Research Service
Sr. No. | Country | Use Category | August | September |
1 | Australia | Feed and residual | 3,500 | 4,000 |
2 | Canada | Feed and residual | 4,000 | 4,500 |
3 | European Union | Feed and residual | 46,000 | 44,500 |
4 | Philippines | Feed and residual | 2,700 | 3,500 |
5 | Turkey | Feed and residual | 1,300 | 1,000 |
6 | Ukraine | Feed and residual | 2,500 | 2,200 |
7 | United Kingdom | Feed and residual | 6,000 | 6,500 |
8 | Vietnam | Feed and residual | 1,900 | 2,500 |
9 | World | Feed and residual | 1,51,159 | 1,51,909 |
10 | Bangladesh | Food, seed, and industrial consumption | 7,400 | 7,700 |
11 | Canada | Food, seed, and industrial consumption | 5,300 | 5,100 |
12 | Philippines | Food, seed, and industrial consumption | 3,250 | 3,500 |
13 | World | Food, seed, and industrial consumption | 6,46,399 | 6,46,754 |
14 | World | Total consumption | 7,97,558 | 7,98,663 |
15 | World | Trade-adjusted consumption | 8,04,015 | 8,04,901 |
(Source: USDA)
The Global Wheat Trade in 2024-25 by the U.S. Department of Agriculture (USDA), Economic Research Service
Sr. No. | Trade Year Exports | Country/Region | August 2024-25 (MMT) | September 2024-25 (MMT) |
1 | Australia | 23 | 25 | |
2 | Canada | 25 | 26 | |
3 | European Union | 34 | 32 | |
4 | Ukraine | 14 | 15 | |
5 | World Total | 215 | 217 | |
6 | Trade Year Imports | Bangladesh | 7 | 7 |
7 | European Union | 11 | 12 | |
8 | Nigeria | 5 | 6 | |
9 | Philippines | 6 | 7 | |
10 | Turkey | 8 | 7 | |
11 | Vietnam | 5 | 5 | |
12 | World Total | 209 | 211 |
(Source: USDA)
There are several opportunities to farmers, and they can have access to premium markets. By accessing premium markets, farmers can achieve a consistent production of high-quality wheat and better prices. The integration of advanced technologies and precision agriculture technologies enables farmers to achieve improved yields, reduced costs, and better alignment with market demands. The various digital platforms allow farmers to connect with international buyers to increase their profit margins. The implementation of sustainable environment-friendly agricultural practices maintains a competitive edge among farmers from all around the world.
Precision agriculture technology is one of the smart solutions and an important tool for agribusinesses and farmers. It helps to resolve the complexities associated with crop yield forecasting, resource optimization, risk management, and market intelligence. Farmers do not face challenges in predicting crop yields due to advanced satellite-based monitoring systems which provide accurate and timely data about crop yields. The farmers found the best solutions to optimize water, pesticides, and fertilizers with the help of precision agriculture tools.
These smart solutions introduce reduced input costs and improved profitability even in challenging situations in the market. The agtech solutions can provide real-time data on crop health and weather conditions, which helps to meet risks associated with climate change and fluctuations in the market. There can be better decision-making about sales timing, pricing strategies, and crop selection due to the insertion of market intelligence.
How Asia Pacific Dominated the Wheat Market in 2024?
Asia Pacific dominated the wheat market in 2024. In South Asia, the planting of the wheat crop in 2025 is driven by favorable conditions for soil and soil moisture. Farmers are looking for affordable and accessible ways to obtain fertilizers, pesticides, herbicides, fuel, etc. to improve agricultural production. People are focusing on sustainable establishment and early development of crops. Efforts are made to protect the crops from frost damage, snow, and freezing temperatures to maintain the yields.
Central Asia
The Kazakh Ministry of Agriculture announced that it will provide financial support to suppliers to export 1.5 million tonnes of food grain to major markets at an amount of 30 billion tenge and at 20,000 tenge per tonne. For this purpose, the ministry developed rules and action plans to assist suppliers with money through a national budget. These allocations were planned to provide through China to the Southeast Asian markets, Iran, Afghanistan, Georgia, etc.
East Asia and the Pacific
The East Asian and Pacific countries are facing rising food prices that present challenges associated with food security and economic stability. In Myanmar, the rice prices are approximately 40% higher than last year. Agricultural production and the lives of people are largely impacted by climate conditions. The governments across the region took several initiatives to improve food security. They make efforts to promote domestic production by raising crop yields and reducing dependency on imports. The government authorities planned to expand the farming land by 4.5 million hectares along with advancements in irrigation systems.
What is the Significant Scenario Regarding Food Security in China?
The Central Government of China focuses on food security by increasing agricultural productivity and imports. The president of China makes efforts to promote domestic food security and related policies. The stronger measures ensure stable agricultural production and supply of products in both the rural areas and industries. The Central Rural Work Conference of 2023 focused on the importance and maintenance of grain production, grain security, and supply. Local governments play major roles in seed security, food security, agricultural innovations, and security of genetically modified seeds.
North America is Expected to Grow at the Fastest CAGR in the Wheat Market During the Forecast Period.
The National Association of Wheat Growers was introduced by the producers willing to work together towards the betterment of the industry. It states that wheat is one of the most important plants in the world and about 50 million acres of wheat is produced by U.S. farmers. The farmers in northern American countries provide food for hundreds of millions of people at home and abroad. They also support jobs of people in rural communities, mills, bakeries, restaurants, and grocery stores.
How Does the U.S. Make Significant Efforts to Understand the Challenging Markets?
According to the National Agricultural Statistics Service of the U.S. Department of Agriculture (USDA), U.S. farmers are expected to produce 1.28 billion bushels of wheat in the winter of the year 2024. This was a 2% increase in winter wheat production compared to 2023.
The U.S. Wheat Associates Board team met with customers and 3 unique markets along with the producers from Arizona, Idaho and Nebraska to exchange information about U.S. wheat. They have explored challenges and opportunities in Morocco, Egypt, and Portugal in June 2025.
The Wheat Supply in the U.S. in 2024-25 (in Million Bushels) by the U.S. Department of Agriculture (USDA), Economic Research Service
Sr. No. | Balance Sheet Items | August 2024-25 |
Supply, total | ||
1 | Beginning Stocks | 702 |
2 | Production | 1,982 |
3 | Imports | 105 |
4 | Supply, total | 2,789 |
Demand | ||
5 | Food | 964 |
6 | Seed | 62 |
7 | Feed and Residual | 110 |
8 | Domestic, total | 1,136 |
9 | Exports | 825 |
10 | Use, total | 1,961 |
11 | Ending Stocks | 828 |
12 | Season-average farm price | $5.70 |
(Source: USDA)
Europe is Seen to Grow at a Notable Rate in the Wheat Market in 2024.
According to the EU agricultural outlook 2024-2035, the agricultural sector of the European Union is expected to become the net exporter of agri-food products such as wheat, barley, dairy products, meat, olive oil, wine, etc. It contributes to global food security while staying self-sufficient for several communities. The amount of land for agriculture and forestry in the European Union is projected to remain stable in the period 2024-2035. The European Union is the second-largest wheat consumer and the largest producer globally.
How did Soft Wheat gain traction in the United Kingdom and European Countries?
The EU and the UK play major roles in global wheat production. France is the largest producer of soft wheat in the EU, and which also faces some challenges due to adverse weather conditions during production. The imports of soft wheat have increased in the EU, driven by Spain and Germany. The UK suppliers, including Ukraine and Canada, have strengthened their presence in the market. There was a strong demand in the UK, Spain, and Italy for product exports from Canada. Red Spring Wheat grades 1 and 2 were the largest contributors to the export growth rate of Canada.
Soft Wheat Production in the European Union in thousand tons in 2024 by the European Commission based on Eurostat Crop Production Annual Data
Sr. No. | Member State | 2024 Period Projection |
1 | European Union | 1,21,762.80 |
2 | France | 29,652.00 |
3 | Germany | 20,152 |
4 | Poland | 12,992.20 |
5 | Romania | 9,900 |
6 | Spain | 6,565.60 |
7 | Bulgaria | 6,532.20 |
8 | Hungary | 4,974.50 |
9 | Denmark | 4,198.10 |
10 | Sweden | 3,094 |
11 | Italy | 2,851.30 |
(Source: Canada.ca)
How Conventional Segment Dominated the Wheat Market in 2024?
The conventional segment dominated the wheat market in 2024. Conventional wheat production offers opportunities to explore new modes in farming practices by incorporating synthetic chemicals to control pests and improve growth. Conventional farming methods can also increase crop yield with the help of different chemicals and modern techniques. Researchers are looking into emerging trends and innovations in conventional farming practices to achieve improved agricultural productivity.
The Organic Segment is Expected to Grow at the Fastest CAGR in the Wheat Market During the Forecast Period.
Organic wheat production provides favorable farming opportunities without the use of herbicides, fertilizers, and synthetic pesticides. The organic wheat farming practices focus on maintaining soil health by using natural pest control methods and promoting biodiversity. The organic products are cleaner, natural, and nutrient-rich.
What Made B2B the Dominant Segment in the Wheat Market in 2024?
The B2B segment dominated the wheat market in 2024. The B2B channels help businesses to reach more buyers and explore new markets. B2B communications result in increased sales of products and improved brand recognition. Business to business opportunities lead to enhanced efficiency of businesses through rapid delivery and reduced costs. The B2B end users enable businesses to stay competitive in the global market. It also accelerates the analytics and scalability of businesses.
The B2C Segment is Expected to Grow at the Fastest CAGR in the Wheat Market During the Predicted Timeframe.
The B2C platforms offer bigger customer reach, reduced overhead costs, and faster sales cycles. They provide favorable opportunities to build brands by introducing flexibility and adaptability. The presence of various types of B2C businesses, such as direct sellers, online intermediaries, advertisement-based, community-based, and fee-based, present different business models and target different audiences.
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