Europe Wheat Market Size (2024 - 2029)

Europe Wheat Market Analysis

The Europe Wheat Market size is estimated at USD 57.38 billion in 2024, and is expected to reach USD 76.32 billion by 2029, growing at a CAGR of 5.87% during the forecast period (2024-2029).

• Europe is the world's largest wheat producer, contributing 139 million metric tons in 2021. In this region, more than half of cereals grown are wheat. The demand for wheat and wheat flour is increasing due to growing consumer preference towards processed or convenience foods. Wheat flour is added as a vital ingredient in convenience food items such as bakery and confectionery products, snacks, and ready-to-eat foods to improve the texture and profile of the food product. Due to the growing food & beverages industry and improving economic conditions, consumers in developed and developing European countries are inclining more toward convenience foods, bolstering the market's growth.
• Additionally, over the past few years, the region's consumption of ready-to-eat food and beverages increased noticeably. Due to this, the demand for convenience foods increased significantly. For instance, according to Office for National Statistics (UK), in 2021, the sales of prepared meals and dishes increased to approximately GBP 3.76 billion (USD 4.52 billion), which was GBP 3.51 billion (USD 4.22 billion) in 2020. With the increase in the demand for convenience food items, the need for wheat and wheat flour is set to propel. Convenience foods across Europe widely meet the rising demand for food.
• Moreover, European wheat prices in 2022 are supported by renewed demand and bargain buying in the absence of the US markets and with traders unimpressed by Russia's decision to cut its grain export tax to make wheat more competitive on world markets. To meet the increasing demands, companies are coming up with improved quality of grain and efficient distribution channels to serve the broader customer base.

Europe Wheat Industry Segmentation

Wheat is a grass widely cultivated for its seed, a cereal grain that is a worldwide staple food and is grounded to make flour for bread, pasta, pastry, etc. The Europe Wheat Market is segmented by geography (Spain, France, United Kingdom, Germany, and Russia). The report includes production (volume), consumption (volume and value), import (volume and value), export (volume and value), and price trend analyses. The report offers market estimation and forecasts value in (USD thousand) and volume (metric ton) for the above segments.