In 2023, the global wheat market observed China leading with a market size of 18.67 thousand metric tons, followed closely by India with 16.83 thousand metric tons. The United States and Pakistan were also significant contributors, with 5.27 and 4.62 thousand metric tons respectively. Europe had notable entries with Russia, France, and Germany garnering shares of 3.85, 1.56, and 1.43 thousand metric tons respectively. Africa's leading representatives were Egypt and Nigeria with 2.86 and 1.01 thousand metric tons. South American countries like Brazil and Argentina showed mixed results with 2.24 and 0.91 thousand metric tons.
For the future, trends to watch include:
- Continued growth in Asian markets, particularly China and India.
- Potential fluctuations in the United States' production due to climatic conditions.
- Growing contributions from African markets, notably Ethiopia and Nigeria.
- Potential economic and political impacts on European producers, especially Russia and Ukraine.
- Innovation in agricultural technology which may lead to efficiency gains and changes in production volumes globally.
- Variable year-on-year growth rates across different regions indicating dynamic changes in market demands and capabilities.
Top countries in Wheat Market Size Volume Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 18.67 | 2023 | +0.27% | +0.21% | View data |
| 2 | 2 India | 16.83 | 2023 | +0.55% | +0.48% | View data |
| 3 | 3 United States | 5.27 | 2023 | +0.25% | +0.18% | View data |
| 4 | 4 Pakistan | 4.62 | 2023 | +0.31% | +0.22% | View data |
| 5 | 5 Russia | 3.85 | 2023 | -0.041% | +0.49% | View data |
| 6 | 6 Egypt | 2.86 | 2023 | +0.49% | +0.4% | View data |
| 7 | 7 Iran | 2.43 | 2023 | +0.081% | +0.16% | View data |
| 8 | 8 Brazil | 2.24 | 2023 | +0.3% | -0.32% | View data |
| 9 | 9 Indonesia | 2.15 | 2023 | +1.72% | +2.08% | View data |
| 10 | 10 Italy | 1.73 | 2023 | -0.068% | -0.029% | View data |
