Global Grain Market Report and Forecast 2024-2032

Global Grain Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global grain market size reached a volume of 2.3 billion tons in 2023. Aided by the increasing demand for staple foods and the increasing population, the market is projected to further grow at a CAGR of 1.20% between 2024 and 2032 to reach a value of 2.56 billion tons by 2032.

Grains, including wheat, rice, corn, and barley, increasingly utilized in the production of biofuels, food ingredients, and various industrial applications. They are crucial not only for direct human consumption but also as essential feedstock in the livestock and poultry sectors. serve as a fundamental component of the global food supply.

The global grain market growth is primarily fuelled by the increasing consumption of grain-based food products. With global urbanisation and growing disposable incomes, consumer preferences are shifting towards more convenient and processed food options, many of which rely on grains as a core ingredient. In particular, rice and wheat remain staple foods for over half of the global population, while corn plays a key role in processed foods and as an industrial raw material.

Moreover, government initiatives promoting food security and sustainable agricultural practices are boosting the market demand. Governments in major grain-producing countries like the United States, China, India, and Brazil have introduced subsidy programs and incentives for farmers to increase grain production. These initiatives aim to mitigate the impacts of climate change and ensure a stable supply of grains for both domestic consumption and export, thereby driving the grain market value. Additionally, technological advancements in farming practices, including the use of genetically modified seeds and precision agriculture, are improving crop yields, reducing costs, and further boosting the market growth.

One of the major factors driving the demand for grains in the livestock feed industry. Grains such as corn and barley are widely used as feedstock in the poultry, dairy, and meat production industries. The rising consumption of meat and dairy products, particularly in developing regions, is leading to a surge in demand for grain-based animal feed. This trend is expected to continue in the forecast period, significantly contributing to the market expansion.

Additionally, the biofuel industry is playing a critical role in shaping the grain market dynamics. Corn, in particular, is a primary feedstock for the production of ethanol, a biofuel that is increasingly used as a renewable energy source. With the rising demand for cleaner energy alternatives to reduce carbon emissions, the use of grains in biofuel production is expected to rise.

The food and beverage industry remains the largest consumer of grains, accounting for a substantial portion of the global grain market share. Grains are utilised in the production of a wide array of food products, including bread, pasta, cereals, and snack foods. The increasing demand for ready-to-eat and convenient food products is further driving the demand for grains in this sector.

Moreover, the use of grains in the pharmaceutical industry is gaining momentum, particularly in the formulation of dietary supplements and nutraceuticals. Grains such as oats and barley are known for their high fibre content and are increasingly being incorporated into health products targeting cardiovascular health, digestive wellness, and overall nutrition. This is driving the global grain market demand.

The market is poised for steady growth over the next decade, supported by the increasing demand for staple foods, biofuels, and livestock feed. However, challenges such as climate change, water scarcity, and fluctuating commodity prices could pose risks to the market’s stability. Governments and industry players are focusing on sustainable agriculture and innovative farming practices to address these challenges and ensure a consistent supply of grains. This is expected to drive the grain market expansion over the forecast period.

Market Segmentation

The market can be divided based on grain type, production method, end use, and region.

Market Breakup by Grain Type

• Wheat
• Rice
• Corn
• Barley
• Oats
• Others

Market Breakup by Production Method

• Conventional
• Organic

Market Breakup by End Use

• Food and Beverages
• Animal Feed
• Biofuels
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global grain market. Some of the major players explored in the report by Expert Market Research are as follows:

• Archer Daniels Midland Company
• Bunge Global SA
• Cargill, Incorporated
• Continental Grain Company
• CGB Enterprises, Inc.
• COFCO Corporation
• Louis Dreyfus Company B.V.
• KRBL Limited
• ITC Limited
• LT Foods Limited
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.