The Asia-Pacific wheat market is expected to witness a CAGR of 4.8% during the forecast period (2020-2025). China and India mainly dominate the Asia-Pacific wheat production. However, they are also the primary wheat consumers in the region. It is the largest cultivated commercial crop, in terms of arable land, and is the most critical grain source for people. The other drivers, like rising health consciousness among the consumers and as an alternative to the meat products and wheat as a popular feed crop for animals, are contributing to the steady growth of the market. The poor quality grain is frequently utilized by industries to produce adhesives, paper additives, and alcohol.
Key Market Trends
The Increasing Demand for Wheat Protein
The demand for wheat protein is increasing, due to the rising health consciousness among the consumers and as alternative meat products. Additional factors, like increased protein intake by athletes for the purpose of muscle gain and to increase strength, are driving the wheat protein market, which encourages the production of wheat in this region.
The demand for wheat gluten is increasing due to the change in consumers' eating habits. Health issues and disorders such as diabetes, cholesterol, blood pressure, etc., are increasing in all age groups. Due to increasing awareness about healthy living and nutritional food, consumers prefer organic and natural food. This increased preference towards the wheat protein is encouraging the growth of the wheat market.
China is the Largest Producer of Wheat
China is the largest producer of wheat. It produced approximately 131 million metric tons of wheat in 2016, over a land area of 24 million hectares. Wheat serves as one of the most important staple foods of the Chinese population, accounting for 40% of the grain consumption in the country. Wheat is cultivated extensively in the Yellow River and Huai River valleys of China, where the crop is rotated with maize. Even after being the largest producer of wheat, China still has to import wheat to meet wheat consumption in the nation. China is estimated to have imported around USD 780 million wheat in 2018 as against 801 million USD in 2016. This indicates that Chinese wheat imports are likely to decline during the forecast period, as China is gaining self-sufficiency in wheat production.
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