Cracked Wheat Market Scope
Australia ranks 8th position across the world in wheat production. Australia realized 3,3% of world wheat production with its 22,4 million-ton wheat production in the 2012/13 season. The Australian cracked wheat market is expected to grow at a healthy pace during the forecast period, according to the AMA study. The growing demand for high-protein bakery products and the introduction of innovative bakery products along with new flavors, taste, & texture are expected to be some of the major factors aiding the growth of the market. However, the market is expected to witness a decline in growth during FY 2020 but it is again expected to rise at a healthy pace after the COVID-19 pandemic is over.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Ardent Mills LLC (United States), Bob’s Red Mill (United States), Four Leaf Milling (Australia), Franz Family Bakeries (United States), Heidelberg Baking Co. (United States), Hodgson Mill, Inc. (United States), KP Snacks (United Kingdom) and Parrish & Heimbecker (Canada) |
CAGR | % |
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Cracked Wheat market throughout the predicted period.
Ardent Mills LLC (United States), Bob’s Red Mill (United States), Four Leaf Milling (Australia), Franz Family Bakeries (United States), Heidelberg Baking Co. (United States), Hodgson Mill, Inc. (United States), KP Snacks (United Kingdom) and Parrish & Heimbecker (Canada) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Cracked Wheat market by Type , by Application (Food Industry {Bakery, Confectionery, Cereals, Others}, Foodservice Industry and Retail) and Region with country level break-up.
On the basis of geography, the market of Cracked Wheat has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In 2023, Kellogg's partnered with The Chia Company to develop a new line of breakfast cereals featuring cracked wheat and chia seeds. This partnership aims to cater to the growing demand for healthy and protein-rich breakfast options.
In 2022, Farmer's Choice Partners with Montana Specialty Mills to launch a new line of organic cracked wheat products. This collaboration leverages Farmer's Choice's distribution network and Montana Specialty Mills' expertise in organic grain processing.
Stringent Government Regulations Regarding Lock-Down of Cities & Shutting Down of Operations Across Different Industries Across the World Due to the COVID-19 Pandemic is Impacting the Demand for Cracked Wheat
Influencing Trend:
Rising Adoption of Online Sales Channels
Market Growth Drivers:
Growing Demand for High Protein Bakery Products Across Australia and Introduction of Innovative Bakery Products Along with New Flavors, Taste, and Texture
Challenges:
Demand & Supply Gap Due to COVID-19 Pandemic Across Australia
Restraints:
Volatility in Raw Material Prices
Opportunities:
Expansion of Vendors Across Different Parts of Australia is Expected to Generate Huge Opportunities During the Forecast Period
Analyst View
Since the COVID-19 virus outbreak in December 2019, the disease has spread to more than 200 countries across the world along with the World Health Organization declaring it a public health emergency. The impact of the COVID-19 has already hit many industries and will affect the Australian cracked wheat market in FY 2020. The outbreak of COVID-19 has brought effects on many aspects, like scheduled public transportation cancellations; downfall in the real estate sector; travel bans and quarantines; closed operations across hotels & restaurants; banning of public gatherings & events; large slow-down in the supply chain of different markets; stock market unpredictability; declining business assurance, and uncertainty in the future market dynamics.
Key Target Audience
Manufacturer, New Entrance, Potential Investors, Suppliers & Distributors and Others