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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
Market Size (2024) USD 14.5 Billion
Market Size (2029) USD 16.90 Billion
CAGR (2024 - 2029) 3.11 %

North America Wheat Market Analysis

The North America Wheat Market size is estimated at USD 14.5 billion in 2024, and is expected to reach USD 16.90 billion by 2029, at a CAGR of 3.11% during the forecast period (2024-2029).

  • Wheat stands as one of North America's most crucial staple food crops. In 2023, North America contributed 9.8% to global wheat production. More significantly, the region accounts for 30% of the world's high-quality wheat exports, according to FAO. As a result, North American wheat production plays a vital role in both regional food production and the global food supply chain.
  • Wheat is the third most important field crop in the United States in terms of planted acreage and production, following corn and soybeans. In the 2023 marketing year, United States farmers produced 45.9 million metric tons of wheat from a harvested area of 14.8 million hectares, according to FAO data. The states with the largest wheat-planted areas are Kansas, North Dakota, Montana, Texas, and Oklahoma. The country cultivates six classes of wheat, including hard red winter, hard red spring, soft red winter, soft white, hard white, and durum. Winter wheat production typically accounts for about 70% of total United States wheat production.
  • Canada maintains its status as one of the world's leading exporters of premium wheat, supplying over 80 countries annually. The country primarily cultivates four wheat classes, including Canada Western Red Spring, Canada Western Amber Durum, Canada Prairie Spring Red, and Canada Eastern Soft Red Winter. On average, Canada's wheat harvest yields approximately 30 million metric tons, which is seven times the domestic consumption. The extensive arable land allocated to wheat cultivation, combined with advanced farming techniques, has enabled Canadian farmers to achieve high yields, contributing to production growth.

North America Wheat Industry Segmentation

Wheat, a key cereal predominantly cultivated in temperate nations, is ground into flour for making bread, pasta, pastries, and more. The North America wheat market includes Production Analysis (Volume), Consumption Analysis (Value and Volume), Import Analysis (Value and Volume), Export Analysis (Value and Volume), and Price Trend Analysis. The market is segmented by country (United States, Canada, and Mexico). The report offers the market size and forecasts regarding volume (Metric Tons) and value (USD) for all the above 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

      1. 1.2.1 High Demand for Diverse Wheat Varieties in Food and Feed Industries

      2. 1.2.2 Technological Advancements in Wheat Farming

      3. 1.2.3 Strong Export Demand from International Markets

    3. 1.3 Market Restraints

      1. 1.3.1 Fluctuating Weather Patterns and Climate Change Impacting Crop Yields

      2. 1.3.2 Competition from Alternative Crops and Shifting Acreage

    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 size is expected to reach USD 14.5 billion in 2024 and grow at a CAGR of 3.11% to reach USD 16.90 billion by 2029.

In 2024, the North America Wheat Market size is expected to reach USD 14.5 billion.

North America Wheat Market Report Snapshots

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