Global Cereal Market 2024

Cereal Market Size

In 2022, the global cereal market increased by X% to $X.9B, rising for the sixth consecutive year after two years of decline. Over the period under review, consumption showed a relatively flat trend pattern. Global consumption peaked in 2022 and is likely to continue growth in the immediate term.

Cereal Production

In value terms, cereal production totaled $X in 2022 estimated in export price. Overall, the total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Global production peaked at $X.5B in 2020; however, from 2021 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were China (X tons), the United States (X tons) and India (X tons), with a combined X% share of global production. Russia, Brazil, Argentina, Indonesia, Ukraine, France, Bangladesh, Canada, Australia and Pakistan lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Argentina (with a CAGR of X%), while production for the other global leaders experienced more modest paces of growth.

In 2022, the global average cereal yield stood at X tons per ha, leveling off at the previous year. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the yield increased by X%. Over the period under review, the average cereal yield hit record highs in 2022 and is likely to see steady growth in years to come. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the global harvested area of cereals shrank to X ha, flattening at 2021. Overall, the harvested area, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the harvested area increased by X%. The global harvested area peaked at X ha in 2021, and then shrank slightly in the following year.

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Cereal Exports

Exports

After two years of growth, overseas shipments of cereals decreased by X% to X tons in 2022. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X%. The global exports peaked at X tons in 2021, and then dropped in the following year.

In value terms, cereal exports skyrocketed to $X in 2022. Overall, total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The global exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

In 2022, the United States (X tons), distantly followed by Argentina (X tons), Brazil (X tons), Australia (X tons), Ukraine (X tons), France (X tons), Canada (X tons) and Russia (X tons) represented the largest exporters of cereals, together making up X% of total exports. Romania (X tons), India (X tons), Germany (X tons), Poland (X tons) and Kazakhstan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of X%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the largest cereal supplier worldwide, comprising X% of global exports. The second position in the ranking was taken by Argentina ($X), with a X% share of global exports. It was followed by Brazil, with a X% share.

From 2012 to 2022, the average annual growth rate of value in the United States stood at X%. In the other countries, the average annual rates were as follows: Argentina (X% per year) and Brazil (X% per year).

Export Prices by Country

The average cereal export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cereal export price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. The global export price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($X per ton), while Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (X%), while the other global leaders experienced more modest paces of growth.

Cereal Imports

Imports

In 2022, approx. X tons of cereals were imported worldwide; with an increase of X% on 2021 figures. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, cereal imports soared to $X in 2022. Overall, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons), followed by Mexico (X tons) and Japan (X tons) were the key importers of cereals, together mixing up X% of total imports. Algeria (X tons), Spain (X tons), Egypt (X tons), South Korea (X tons), Italy (X tons), Vietnam (X tons), Turkey (X tons), the Netherlands (X tons), Iran (X tons) and Saudi Arabia (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by China (with a CAGR of X%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Mexico ($X) were the countries with the highest levels of imports in 2022, together comprising X% of global imports.

China, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average cereal import price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the import price saw a slight expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. Global import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while Algeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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