Europe Wheat Market Size (2024 - 2029)

Europe Wheat Market Analysis

The Europe Wheat Market size is estimated at USD 194.54 billion in 2024, and is expected to reach USD 256.11 billion by 2029, growing at a CAGR of 5.70% during the forecast period (2024-2029).

Europe emerged as the world's leading wheat producer, contributing 282.7 million metric tons, as reported by the FAO during the year 2022. Eurostat data highlights France as the European Union's foremost wheat producer, with a yield of 34.6 million tons in 2022. Germany followed with a production of 22.7 million tons, while Poland contributed 13.2 million tons. Spain and Italy share the fifth spot among the European Union's top producers. Notably, wheat constitutes over half of the cereals grown in the region. The rising demand for wheat and wheat flour is largely attributed to a growing consumer preference for processed and convenience foods. Wheat flour plays a crucial role in enhancing the texture and profile of various convenience food items, including bakery products, snacks, and ready-to-eat meals. As the food & beverages industry expands and economic conditions improve, there's a noticeable shift towards convenience foods among consumers in both developed and developing European nations, driving the market's growth.

In recent years, there's been a marked increase in the region's consumption of ready-to-eat food and beverages, further fueling the demand for convenience foods. For example, data from the Office for National Statistics (UK) reveals that in 2022, sales of prepared meals and dishes surged to approximately GBP 3.82 billion (USD 4.71 billion), up from GBP 3.51 billion (USD 4.50 billion) in 2020. This rising demand for convenience food items is set to drive the need for wheat and wheat flour. Across Europe, convenience foods are increasingly catering to the surging food demand.

In 2022, European wheat prices were buoyed by renewed demand and bargain buying, especially in the absence of US market influences. Traders, however, remained skeptical of Russia's move to reduce its grain export tax, aiming to make its wheat more competitive globally. In response to the surging demands, companies are focusing on enhancing grain quality and optimizing distribution channels to cater to a wider 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 ground to make flour for bread, pasta, pastry, etc. The Europe Wheat Market is segmented by Geography into 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) and volume (metric tons) for the above segments.