North America Wheat Market Size (2024 - 2029)

The North America Wheat Market is experiencing growth driven by various factors, including increasing demand for animal feed and biofuels, which has led to heightened wheat production. Wheat is a crucial commodity in global trade and food security, with a significant portion of the world's food supply dependent on its annual harvests. The United States and Canada play vital roles in wheat production and export, with the Wheat Belt in the North American Great Plains being a key agricultural region. The market's expansion is influenced by climate, yields, and government subsidies, particularly in biofuel production, which enhance the economic viability of wheat as a renewable energy source.

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Market Size of North America Wheat Industry

North America Wheat Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 3.01 %

Major Players

North America Wheat Market Major Players

*Disclaimer: Major Players sorted in no particular order

North America Wheat Market Analysis

The North America Wheat Market size is estimated at USD 125.23 billion in 2023, and is expected to reach USD 145.25 billion by 2028, growing at a CAGR of 3.01% during the forecast period (2023-2028).

  • Wheat is one of the key global commodities in terms of acreage and tradeable value and is a staple in household diets. Many factors affect wheat prices, including climate, yields, oil prices, lagged prices, and imports. In addition to gradually and consistently increasing global wheat demand, these market drivers are posited to impact world prices and food security. Approximately 21% of the world's food depends on annual wheat crop harvests, which often have relatively low stocks. The developing countries, mostly net wheat importers, consume 77% of total global wheat production.
  • Wheat ranks third among United States' field crops in planted acreage, production, and gross farm receipts behind corn and soybeans. In the marketing year 2022, United States farmers produced 1.6 billion bushels of winter, durum, and other spring wheat from a harvested area of 35.5 million acres. Canada remains one of the world's top exporters of high-quality durum. Canada's wheat harvest is about 30 million metric tons on average, about 7 times what Canadians consume.
  • Wheat Belt, the part of the North American Great Plains, is the major growing wheat region. The southern area, where hard red winter wheat is grown, includes parts of the states of Kansas, Oklahoma, Texas, Nebraska, and Colorado since this area is hot and dry in summer and is thus well suited to winter wheat. On average, winter wheat production represents approximately 70 percent of total U.S. production. Across the United States, there are six classes of wheat grown. The six classes grown in the United States are hard red winter, hard red spring, soft red winter, soft white, hard white, and durum.
  • Growing demand for animal feed and biofuels in North America has led to an increase in wheat production. The massive increase in biofuel production is majorly driven by the very large government subsidies provided in many western countries, which have simultaneously increased the subsidization of biofuel. The federal government is providing subsidies to increase the consumption of biofuels such as wheat ethanol. Some biofuels are cost-competitive with traditional fuels and make a useful addition to gasoline.

North America Wheat Industry Segmentation

Wheat is a grass widely cultivated for its seed, a cereal grain that is a worldwide staple food. It is one of the world's most commonly consumed cereal grains.

The North American wheat market analyses trends, growth, and demand along with their scenarios across the United States, Canada, and Mexico in North America. The report offers an analysis of production (volume), consumption (value and volume), import (value and volume), export (value and volume), and price trend analysis.

The market sizing has been done in value terms in USD for all the abovementioned segments.

United States
Production Analysis
Consumption Analysis
Import Analysis (Value and Volume)
Export Analysis (Value and Volume)
Price Trend Analysis
Canada
Production Analysis
Consumption Analysis
Import Analysis (Value and Volume)
Export Analysis (Value and Volume)
Price Trend Analysis
Mexico
Production Analysis
Consumption Analysis
Import Analysis (Value and Volume)
Export Analysis (Value and Volume)
Price Trend Analysis
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North America Wheat Market Size Summary

The North America wheat market is a significant component of the agricultural landscape, driven by its status as a staple food and a key global commodity. Wheat's importance is underscored by its substantial role in household diets and its tradeable value, which is influenced by various factors such as climate, yields, and oil prices. The market is characterized by a steady increase in demand, which is crucial for global food security, as a significant portion of the world's food supply relies on wheat harvests. In the United States, wheat ranks third among field crops in terms of planted acreage and production, with the country being a major exporter despite producing a smaller percentage of the world's total wheat. Canada, on the other hand, is renowned for its high-quality durum wheat, contributing significantly to global exports.

The Wheat Belt, encompassing parts of the North American Great Plains, is the primary growing region, with winter wheat production dominating U.S. output. The growing demand for animal feed and biofuels, particularly in the United States and Canada, has further stimulated wheat production. Government subsidies in Western countries have bolstered biofuel production, with wheat ethanol being a notable focus, although corn remains the primary crop for bioethanol in Canada. The stable consumer demand for wheat-based food products in the United States, coupled with ongoing innovations in wheat cultivation, such as those by Syngenta and BASF, underscores the sector's resilience and potential for growth. These developments are expected to enhance the market's capacity to meet both domestic and international needs, ensuring a steady supply of high-quality wheat for various applications.

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North America Wheat Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Value Chain/Supply Chain Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 United States

      1. 2.1.1 Production Analysis

      2. 2.1.2 Consumption Analysis

      3. 2.1.3 Import Analysis (Value and Volume)

      4. 2.1.4 Export Analysis (Value and Volume)

      5. 2.1.5 Price Trend Analysis

    2. 2.2 Canada

      1. 2.2.1 Production Analysis

      2. 2.2.2 Consumption Analysis

      3. 2.2.3 Import Analysis (Value and Volume)

      4. 2.2.4 Export Analysis (Value and Volume)

      5. 2.2.5 Price Trend Analysis

    3. 2.3 Mexico

      1. 2.3.1 Production Analysis

      2. 2.3.2 Consumption Analysis

      3. 2.3.3 Import Analysis (Value and Volume)

      4. 2.3.4 Export Analysis (Value and Volume)

      5. 2.3.5 Price Trend Analysis

North America Wheat Market Size FAQs

The North America Wheat Market is projected to register a CAGR of 3.01% during the forecast period (2024-2029)

The report covers the North America Wheat Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Wheat Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

North America Wheat Market Report Snapshots

North America Wheat Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)