Explore the factors influencing milling wheat prices in 2023, including climatic conditions, geopolitical events, supply chain challenges, and trade policies. Understand how these dynamics affect global markets and strategies for navigating price volatility.

Wheat fell to 541.48 USd/Bu on July 14, 2025, down 0.65% from the previous day. Over the past month, Wheat's price has risen 0.93%, and is up 1.69% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Wheat - values, historical data, forecasts and news - updated on July of 2025.

Get the latest insights on price movement and trend analysis of Milling Wheat in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Graph and download economic data for Producer Price Index by Industry: Flour Milling: Wheat Mill Products, Except Flour (PCU3112113112114) from Jan 1967 to May 2025 about flour, wheat, mills, PPI, industry, inflation, price index, indexes, price, and USA.

United States - Producer Price Index by Industry: Flour Milling: Wheat Flour (Except Flour Mixes), Made in Flour Mills was 242.27100 Index Jun 1983=100 in May of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Flour Milling: Wheat Flour (Except Flour Mixes), Made in Flour Mills reached a record high of 305.23600 in May of 2022 and a record low of 53.30000 in June of 1972. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Flour Milling: Wheat Flour (Except Flour Mixes), Made in Flour Mills - last updated from the United States Federal Reserve on July of 2025.

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Wheat Market Size 2025-2029

The wheat market size is forecast to increase by USD 87.6 billion at a CAGR of 4.6% between 2024 and 2029.

The market is experiencing significant shifts driven by several key trends and challenges. The growing vegan population represents a notable trend, as an increasing number of consumers adopt plant-based diets, leading to a higher demand for wheat-based food products and supplements. Simultaneously, the expansion of retail stores offering organic wheat-based supplements caters to the health-conscious consumer segment, further fueling market growth. The market plays a significant role in the global food industry, with its production and consumption influencing various sectors such as food manufacturing, food retail, and food service. However, the market faces challenges due to climate change and unpredictable weather patterns. Extreme weather conditions, such as droughts and heavy rainfall, can negatively impact wheat production, leading to supply chain disruptions and price volatility.
These challenges necessitate strategic planning and adaptability from market players to ensure a consistent supply of high-quality wheat products and maintain competitiveness. Companies seeking to capitalize on market opportunities and navigate challenges effectively must focus on innovation, sustainability, and risk management strategies. Durum wheat, a key component in pasta and craft beer production, is also gaining attention, and will subsequently help with market expansion in the coming years. 

What will be the Size of the Wheat Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The market encompasses various aspects, including gluten-free wheat, grain drying, and farming practices. Farmers employ precision agriculture to optimize wheat production, while grain drying ensures optimal moisture levels before storage in silos. Flour fortification enhances nutritional value, and flour milling technology, such as roller mills and stone mills, transforms wheat into various products like pasta and bread. Grain transportation and handling are crucial components, with grain elevators facilitating efficient movement. Grain inspection ensures grain quality, and certification guarantees adherence to industry standards. Wheat-based products, including bakery items, require careful flour blending and gluten content control. Wheat industry trends lean towards organic and non-GMO production, sustainability, and innovation in flour milling technology. The market is expected to witness notable expansion due to its increasing use in various industries, including food and animal feed.
Grain cleaning and grain storage are essential for maintaining grain quality and mitigating wheat price volatility. Pastry making and bread making continue to be significant applications, with the bakery industry driving demand for high-quality wheat and flour. Flour milling technology advances, such as grain inspection and grain handling systems, contribute to improved grain quality control. The market outlook remains positive, with ongoing research and development in wheat farming practices and wheat substitutes.

How is this Wheat Industry segmented?

The wheat industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Human
  Feed


Type

  Hard red winter
  Hard red spring
  Soft red winter
  Others


Distribution Channel

  Direct sales (B2B)
  Retail stores
  Online platforms


Geography

  North America

    US


  Europe

    France
    Germany
    Russia
    UK


  APAC

    China
    India
    Indonesia
    Pakistan
    South Korea


  Rest of World (ROW)

By Application Insights

The human segment is estimated to witness significant growth during the forecast period. Wheat, a significant global staple food, is renowned for its high carbohydrate content, primarily in the form of starch. Beyond its carbohydrate value, wheat offers essential nutrients, including protein, vitamins, soluble fiber, and phytochemicals. Consequently, wheat-based foods are popular worldwide, catering to both human consumption and industrial applications. These include refined wheat flour, pasta, noodles, beverages like wheat beer and malted milk, and various other processed goods. Wheat farming involves the use of fertilizers, herbicides, and water for optimal growth. Diseases and pests pose challenges to production, necessitating ongoing research and innovation. Winter and spring wheat varieties are cultivated, with spring wheat being more commonly used for food products due to its higher protein content.

Wheat proce

Grain milling is an advanced, modern industry with highly specialised automated production processes. The industry's revenue performance depends on several highly variable factors that impact growing conditions, like climate, pests and grain prices. Wheat, the industry's primary input, is one of the world's most important agricultural commodities and essential for producing several staple foods. Volatile wheat prices have contributed to revenue fluctuations over the past few years. Prices spiked in 2022-23, surging revenue; since then, prices have been falling and taking revenue with it. Over the five years through 2025-26, revenue is anticipated to fall at a compound annual rate of 2.4% to reach £2.3 billion. In 2025-26, the industry will continue to face challenges. With wheat prices experiencing sustained falls driven by global economic uncertainty, healthier supply numbers and shrunken demand, grain millers' revenue is dropping due to inelastic demand and tight industry competition, which means they have to pass on price changes. However, reduced costs mean that industry profit has been expanding after being squeezed a few years ago. Additionally, while grain millers have been keen to improve the sustainability of production to attract eco-friendly customers, changing consumer demand for healthier and less processed alternatives leaves sales numbers vulnerable if millers aren’t proactive in innovating new products. Furthermore, poor domestic growing conditions for key inputs could force grain millers to rely more on imports of these goods, making UK grain millers' revenue more vulnerable to the volatile global wheat price market. These issues have worked together to drive an expected fall of 3.7% in 2025-26. Product and technology innovations provide the industry with some optimism. Artificial intelligence and machine learning provide millers with new opportunities to make efficiency gains and enhance output. At the same time, new wheat varieties and alternative flours allow grain millers to provide higher quality, more consistent and exciting products, enabling them to tap into new markets and soak up demand. With health consciousness rising in the future, taking advantage of these new niches will be critical for grain millers’ survival as consumers move away from the consumption of highly processed foods that make up a large share of millers’ customers. Over the next five years, through 030-31, revenue is anticipated to fall at an annual rate of 1.1% to £2.2 billion.

Weekly overview of European grain prices for milling wheat, feed wheat, feed barley, malting barley, milling rye and maize.

United States - Producer Price Index by Industry: Flour Milling: Wheat Mill Products, Except Flour was 107.46200 Index Jun 1983=100 in May of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Flour Milling: Wheat Mill Products, Except Flour reached a record high of 234.30000 in August of 2012 and a record low of 41.40000 in September of 2005. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Flour Milling: Wheat Mill Products, Except Flour - last updated from the United States Federal Reserve on July of 2025.

39699 Global import shipment records of Milling Wheat with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

This statistic shows the average price per tonne of wheat in the United Kingdom (UK) between 2002 and 2015 by year, according to published agricultural and commodity price figures. In 2012, the price of wheat was 179.26 British Pound Sterling (GBP) per tonne.

124 Global export shipment records of Milling Wheat with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

Graph and download economic data for Producer Price Index by Industry: Flour Milling: Corn Mill Products (PCU3112113112117) from Jun 1983 to May 2025 about flour, corn, mills, PPI, industry, inflation, price index, indexes, price, and USA.

Europe’s Grain Milling and Starch Manufacturing industry has battled high inflation and supply chain instability, driving revenue down. Producers adapted to shifting consumer preferences as the pan-European surge in popularity for whole grains, organic and gluten-free options became evident in countries like Spain and Italy, where wholegrain flatbreads have been embraced. Amid COVID-19, health-focused choices saw an uptick, while environmentally-friendly starch products have also gained traction. Over the five years through 2024, revenue is expected to dip at a compound annual rate of 2.1% to €90.9 billion. In 2024 , revenue is forecast to fall 2.1% as inflation continues to squeeze downstream demand. In the last half-decade, Europe’s starch producers have profited from innovations in starch applications, particularly in the domain of sustainable packaging. Recognising the pressing global need for eco-friendly materials, manufacturers have turned to starch-based biodegradable packaging, providing a green alternative to non-degradable plastics. As trade tensions and disrupted supply chains led to notable fluctuations in grain and starch prices, the industry contended with ballooning commodity prices. Grain and starch producers have withstood increased production costs by passing these hikes onto consumers, keeping profit afloat while downstream demand has slowed. Revenue for grain and starch producers will swell as inflation cools and consumer spending picks up, driving demand for staple food items like grains. An ongoing push for sustainable practices and healthier lifestyles will bolster demand for starches and whole grains. As disposable income rises, consumers will spend more on high margin goods. Starch producers will benefit from a demand spike for starch-based biodegradable packaging materials as green policies strengthen. In a more stable economic climate, producers will invest more in innovation and expansion, helping them weather price fluctuations in global grain markets. Over the five years through 2029, revenue is forecast to expand at a compound annual rate of 4.5%, reaching €113.4 billion.

The global commercial grain mill products market is experiencing robust growth, driven by increasing demand for processed grains in food and beverage applications. The market, estimated at $50 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 4% between 2025 and 2033, reaching an estimated value of approximately $70 billion by 2033. This growth is fueled by several key factors. Firstly, the rising global population necessitates increased food production, leading to higher demand for efficient grain processing. Secondly, evolving consumer preferences toward convenient and ready-to-eat foods are boosting the market for processed grain-based products. Furthermore, advancements in milling technology, including the adoption of automation and precision milling techniques, contribute to improved efficiency and product quality, further driving market expansion. Major players like ADM, Ardent Mills, and General Mills are investing significantly in research and development, expanding their product portfolios, and strategically acquiring smaller companies to strengthen their market positions. However, the market also faces challenges. Fluctuations in raw material prices, particularly grain prices, can impact profitability. Stringent regulatory frameworks regarding food safety and labeling standards pose compliance challenges for manufacturers. Furthermore, the increasing prevalence of alternative dietary choices, like veganism and gluten-free diets, presents a potential constraint on the market's growth, although the market is adapting with the production of specialized grain mill products to accommodate these trends. Regional variations in consumption patterns and market dynamics will also affect growth trajectories. North America and Europe currently hold significant market shares due to established infrastructure and high consumption rates, but emerging markets in Asia and Africa are showing considerable promise, offering significant untapped potential for future growth. The segmentation within the market, encompassing various grain types and processing methods, presents opportunities for specialized producers to focus on niche segments with high growth potential.

1526 Global import shipment records of Milling Wheat with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

Graph and download economic data for Producer Price Index by Industry: Grain and Oilseed Milling (PCU31123112) from Dec 2003 to May 2025 about grains, mills, PPI, industry, inflation, price index, indexes, price, and USA.

United States - Producer Price Index by Industry: Grain and Oilseed Milling was 175.83900 Index Dec 2003=100 in May of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Grain and Oilseed Milling reached a record high of 203.80700 in June of 2022 and a record low of 95.80000 in December of 2004. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Grain and Oilseed Milling - last updated from the United States Federal Reserve on July of 2025.

Increasing health awareness and rising consumer spending led to an average annual increase in industry sales of 3.6% in the period from 2019 to 2024. In 2020, demand for ground products was primarily influenced by the effects of the coronavirus pandemic. While demand from end consumers and baked goods manufacturers rose significantly at times, demand from other bulk buyers fell. In 2022, the Ukraine conflict led to a sharp rise in the global market price for wheat, which also increased the cost of materials for grinding and hulling mills. Mill operators were largely able to pass on the higher purchasing costs to their customers, as a result of which their turnover also increased significantly. In the current year, industry turnover is expected to fall by 4.6% to 6.1 billion euros.The most important input factor for mills is grain. As the prices for wheat and other types of grain depend on the grain farmers' harvest yields, which in turn are influenced by weather conditions, grain prices can be very volatile. If the grain harvest is particularly poor, prices rise, which leads to an increase in material costs for industry players. If industry players are unable to pass this cost increase on to their customers, this has a negative impact on profit margins. Another factor influencing the industry is the demand for milled products from downstream sectors such as artisan bakers, industrial baked goods manufacturers and supermarkets. The sales growth of these important customer markets has tended to have a positive effect on the sales development of grinding and peeling mills in recent years.In the period from 2024 to 2029, turnover in grinding and peeling mills is expected to fall by an average of 1.3% per year to 5.7 billion euros. The ongoing health trend and continued high consumer spending on food should ensure that sales volumes remain stable in the coming years. However, grain prices are likely to fall again somewhat, which means that industry sales are also expected to decline. Due to market saturation, there is likely to be little growth potential for industry players in the future, which is why the number of grinding and hulling mills is likely to fall.

The Flour Milling industry manufactures milled products, including various flours, rice and malt. Despite a significant shift away from wheat flour consumption, demand for products has grown as rising health consciousness has driven consumers toward gluten-free and whole-grain foods. Also, the pandemic sparked a trend in at-home baking, attracting more consumers. At the same time, the price of certain input commodities has increased in recent years, raising operational costs. Imports into the Flour Milling industry have also risen. However, revenue is expected to inch down at a CAGR of 0.1% over the past five years to $21.6 in 2024, including a 4.8% dip in 2024 alone. Profit, meanwhile, remained relatively stagnant during the same timeframe, representing an estimated 6.9% of revenue in 2024. Stay-at-home orders associated with the pandemic spurred an interest in at-home baking. The sudden boost in demand for flour from individual consumers and the significant loss in demand from commercial consumers like restaurants temporarily disrupted industry supply chains but eventually yielded a rise in demand. Operators have also responded to a widespread shift in consumer preferences toward healthier and gluten-free options by increasing the production of rice, almond and hempseed flour varieties, appealing to a niche market of consumers with gluten-free products. The industry's most prominent players have been consolidating to strengthen efficiency and produce products at maximum capacity to remain competitive. Moving forward, the prices of several agricultural commodities, including wheat and corn, are expected to remain relatively stable. Low volatility in input prices prevents operators from hiking prices for consumers, limiting revenue and putting pressure on profit. While import penetration is expected to fall, a drop in wheat flour consumption will constrain revenue. Shifting consumer preferences will continue to encourage consolidation and force flour milling companies into more niche markets to remain competitive. Overall, revenue is estimated to remain constant, growing at a CAGR of 0.0% over the next five years to $21.7 billion in 2029.