Market Size of Asia-Pacific Wheat Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 72.33 Billion |
| Market Size (2029) | USD 83.84 Billion |
| CAGR (2024 - 2029) | 3.00 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific Wheat Market Analysis
The Asia-Pacific Wheat Market size is estimated at USD 72.33 billion in 2024, and is expected to reach USD 83.84 billion by 2029, growing at a CAGR of 3% during the forecast period (2024-2029).
- The wheat production in the Asia Pacific region was 372.8 million metric tons in 2021. China and India dominate Asia-Pacific wheat production. In addition, they are also the primary wheat consumers in the region. It is the largest cultivated commercial crop in terms of arable land and is the most critical grain source for people.
- In India, wheat production increased in 2021. The high increase in the minimum support price of 20% since 2018 and government procurement are the two key factors contributing to the large growth in the area under wheat cultivation in India in 2021.
- The animal sector is one of the major wheat end-users in the Asia-Pacific region. For instance, according to the USDA, the human consumption of wheat is expected to remain stable at 3.3 million metric tons in 2021. Around 6 million metric tons in eastern Australia are expected to be used as animal feed.
- The other drivers, like rising health consciousness among consumers and as an alternative to meat products and wheat as a popular feed crop for animals, are contributing to the market's steady growth. Industries frequently utilize poor-quality grain to produce adhesives, paper additives, and alcohol.
Asia-Pacific Wheat Industry Segmentation
Wheat is a grass widely cultivated for its seed, a cereal grain that is a worldwide staple food. It yields fine white flour used chiefly in bread, baked goods (such as cakes and crackers), and pasta (such as macaroni or spaghetti), and is important in animal feeds.
The Asia-Pacific Wheat market is segmented by geography into India, China, Japan, Australia, and the Rest of Pakistan. The report includes production analysis (volume), consumption analysis (value and volume), export analysis (value and volume), import analysis (value and volume), and price trend analysis.
The report offers data in terms of Value (USD) and Volume (Metric Ton) for the above-mentioned segments.
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Asia-Pacific Wheat Market Size Summary
The Asia-Pacific wheat market is poised for steady growth, driven by significant production and consumption in China and India, the region's leading wheat producers and consumers. Wheat stands as the largest cultivated commercial crop in terms of arable land, serving as a crucial grain source for the population. The market's expansion is supported by factors such as increased health consciousness among consumers, who are turning to wheat as a protein-rich alternative to meat, and its widespread use in the animal feed industry. The demand for wheat protein, particularly vital wheat gluten, is on the rise due to its functionality as a binder and its role as an alternative to fish- and animal-based feeds. This trend is further bolstered by the growing preference for organic and natural foods, as well as the increasing intake of protein by athletes for muscle gain and strength.
In the Asia-Pacific region, wheat production is expected to grow to meet the rising demand, influenced by factors such as improved seed availability in China and the need to compensate for production deficits due to geopolitical tensions. Despite being the largest wheat producer, China continues to import wheat to satisfy its domestic consumption needs. The region's wheat market is also witnessing innovations and strategic partnerships, with companies like ADM and BASF introducing new wheat varieties and products to enhance yield and quality. These developments, along with the cultivation of disease-resistant wheat varieties, are anticipated to drive the market's growth during the forecast period.
Asia-Pacific Wheat Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Value Chain/Supply Chain Analysis
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2. MARKET SEGMENTATION
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2.1 Geography
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2.1.1 India
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2.1.1.1 Production Analysis
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2.1.1.2 Consumption Analysis and Market Value
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2.1.1.3 Import Market Analysis (Volume and Value)
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2.1.1.4 Export Market Analysis (Volume and Value)
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2.1.1.5 Price Trend Analysis
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2.1.2 China
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2.1.2.1 Production Analysis
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2.1.2.2 Consumption Analysis and Market Value
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2.1.2.3 Import Market Analysis (Volume and Value)
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2.1.2.4 Export Market Analysis (Volume and Value)
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2.1.2.5 Price Trend Analysis
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2.1.3 Japan
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2.1.3.1 Production Analysis
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2.1.3.2 Consumption Analysis and Market Value
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2.1.3.3 Import Market Analysis (Volume and Value)
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2.1.3.4 Export Market Analysis (Volume and Value)
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2.1.3.5 Price Trend Analysis
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2.1.4 Australia
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2.1.4.1 Production Analysis
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2.1.4.2 Consumption Analysis and Market Value
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2.1.4.3 Import Market Analysis (Volume and Value)
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2.1.4.4 Export Market Analysis (Volume and Value)
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2.1.4.5 Price Trend Analysis
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2.1.5 Pakistan
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2.1.5.1 Production Analysis
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2.1.5.2 Consumption Analysis and Market Value
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2.1.5.3 Import Market Analysis (Volume and Value)
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2.1.5.4 Export Market Analysis (Volume and Value)
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2.1.5.5 Price Trend Analysis
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Asia-Pacific Wheat Market Size FAQs
How big is the Asia-Pacific Wheat Market?
The Asia-Pacific Wheat Market size is expected to reach USD 72.33 billion in 2024 and grow at a CAGR of 3% to reach USD 83.84 billion by 2029.
What is the current Asia-Pacific Wheat Market size?
In 2024, the Asia-Pacific Wheat Market size is expected to reach USD 72.33 billion.
