A new market study, titled “Discover Global Wheat Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Wheat refers to a cereal crop that is widely cultivated across the globe. Wheat is a grass that is usually cultivated for its seed as it is a staple food in different regions. It is an important grain crop that is produced as well as traded globally. The diverse culinary applications of wheat have made it a favorite grain. China is the largest producer of wheat and the fourth largest exporter of wheat across the globe. Wheat is grown on more than one area of land.
The trading of wheat across the globe is greater than the combined trading of all other crops. Wheat finds wide application in food products like bakery items, noodles, pasta, and various other processed foods. Wheat is a rich source of carbohydrates. It is also an important source of proteins, dietary fiber, and nutrients. The latest advancements in technology are boosting the growth of the global wheat market. Wheat can provide the required nutrients to humans and offer other health benefits too.
The growing demand for bread is a major driver for the growth of the global wheat market. The health benefits associated with wheat further augments the market growth across the globe. The use of wheat in demanding food products like pancakes, noodles, pasta, cookies, pastries, and other items propels the market growth. The growing concern about the diseases caused by the consumption of wheat is a potential barrier that restricts the growth of the global market. The global wheat market is anticipated to register notable growth during the forecast period.
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Global Market Bifurcation
The global wheat market is segmented based on type and region.
Depending on the type, the global market is bifurcated into durum wheat and bread wheat. The segment of bread wheat holds the highest share in the global market due to the presence of higher protein content. Bread wheat is further segmented into hard wheat and soft wheat. Hard wheat has more protein content is used for baking bread. The soft bread with low protein content is used for sweet cakes and biscuits. The durum wheat is popularly used for the manufacturing of pasta.
The global market consists of many important market regions across the globe. The global wheat market includes the region of North America, the Middle East and Africa, Europe, South America, and the Asia Pacific.
Asia Pacific region is the leading segment of the global wheat market. China is the largest producer of wheat across the globe. China is an important contributor to the growth of the market in the Asia Pacific region. Russia is the largest exporter of wheat across the globe. The increasing initiatives in Russia are anticipated to grow the wheat market in the coming years.
Key Industry News
A Mohali-based institute, National Agri-Food Biotechnology Institute (NABI) signed MOUs with four different companies for the generation of seed as well as wheat-based products for the colored wheat that is rich in nutraceuticals.
In September 2019, the US and Japan entered into a tariff agreement for the wheat farmers and their customers.
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