Dublin, July 02, 2024 (GLOBE NEWSWIRE) -- The "India Wheat Survey Report 2023-2024" report has been added to ResearchAndMarkets.com's offering.
The wheat market in India has witnessed significant growth, with wheat being a staple crop vital for the nation's food security. India's wheat production is projected to reach 111.32 million tonnes in 2023-24, up from 109.52 million tonnes in 2022-23, reflecting a compound annual growth rate (CAGR) of 1.64%.
Historically, the growth in wheat production has been driven by improved agricultural practices, the adoption of high-yielding varieties, and favorable government policies. These factors have collectively contributed to the expansion of wheat acreage and yields.
The wheat market is expected to continue growing in the coming years, with production anticipated to reach 120 million tonnes by 2028 at a CAGR of 1.52%. This growth will be driven by increasing investments in agricultural infrastructure, advancements in irrigation technology, and enhanced support for farmers through subsidies and minimum support prices. Notable trends include the integration of precision farming techniques, greater emphasis on sustainable farming practices, and the expansion of wheat cultivation in non-traditional areas.
The increasing importance of wheat as a food security crop is a key driver for its market growth. The heightened demand for wheat-based products, such as bread, pasta, and other processed foods, has significantly boosted wheat production and market value.
North Indian states constitute the largest region in the wheat market in 2023-24. Uttar Pradesh is expected to be the fastest-growing region in the forecast period. The regions covered in the wheat estimates market report are Gujarat, Bihar, Haryana, Madhya Pradesh, Uttar Pradesh, West Bengal, Punjab, Maharashtra, and Rajasthan, covering 90% of India's wheat acreage.
The growing e-commerce sector is expected to further propel the growth of the wheat market. E-commerce platforms offer a dynamic and efficient channel for wheat producers and retailers, providing consumers with convenient access to a variety of wheat products. According to industry reports, online sales of agricultural products, including wheat, are projected to grow at an average rate of 15% annually, contributing to the overall expansion of the wheat market.
Product innovation is emerging as a notable trend in the wheat market. Major companies are developing fortified wheat products to address nutritional deficiencies and cater to health-conscious consumers. For instance, some firms are introducing wheat flour enriched with iron and vitamins to improve public health outcomes. This focus on innovation and added value is crucial for meeting evolving consumer preferences and sustaining market growth.
Major players in the wheat market are actively pursuing innovations and strategic initiatives to strengthen their market positions. Companies are investing in research and development to improve wheat yield and quality, adopting sustainable farming practices, and expanding their distribution networks to reach a larger customer base. These efforts are essential for maintaining competitiveness and driving revenue growth in the dynamic wheat market.
The India Wheat Survey Report provides strategists, policymakers, and agricultural stakeholders with critical insights into wheat production estimates. Covering 90% of India's wheat acreage, this report offers a comprehensive analysis crucial for informed decision-making and policy formulation.
Reasons to Purchase
- Gain a comprehensive perspective on India's wheat production, covering 9 key states and 252 districts.
- Utilize accurate and up-to-date production estimates essential for strategic planning and policy evaluation.
- Benefit from GIS technology and remote sensing for precise triangulation methodology.
- Access data endorsed by the Government of India and the Roller Flour Miller Foundation, ensuring credibility and reliability.
- Enhance decision-making with detailed district-level estimates of wheat acreage and yields.
- Obtain support from research analysts for strategic planning and decision-making processes.
- Benchmark performance using reliable high-quality data and analysis.
- Create effective regional and national strategies based on localized data.
- Identify key growth segments and investment opportunities within the wheat market.
- Utilize the report for robust internal and external presentations with comprehensive data delivered in an accessible excel dashboard format.
Key Topics Covered:
1. Executive Summary
2. Acreage contribution all over India
3. Methodology
4. Approach & Framework of Study
5. Sample distribution
6. Weather Parameters Analysis for nine major wheat-producing states
- Rainfall pattern
- Soil moisture
- Temperature
- Crop health- Normalized difference vegetation index (NDVI)
7. Field Survey Analysis and Framers Response
8. District-wise wheat production estimates
9. All India Wheat Crop Estimates-2023-24
10. State-wise Wheat Production Estimates - All India
For more information about this report visit https://www.researchandmarkets.com/r/sbrb0m
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