According to a new report, published by KBV research, The Global Staple Food Market size is expected to reach $2.6 trillion by 2031, rising at a market growth of 7.0% CAGR during the forecast period.
Staple foods are fundamental agricultural commodities that are the foundation of diets and the source of essential nutrients for a substantial fraction of the global population. These foods are typically consumed regularly and in large quantities, serving as primary sources of energy and nutrition. Staple foods vary across regions and cultures but generally include grains, cereals, tubers, and legumes that are widely cultivated and consumed.
The Conventional segment is registering a CAGR of 6.3 % during the forecast period. Conventional staple foods often cost less to produce compared to organic or specialty varieties. This affordability makes them accessible to a broader segment of consumers, particularly those with lower disposable incomes or budget constraints.
The Cereals segment led the Global Staple Food Market by Product Type in 2023; thereby, achieving a market value of $499.8 billion by 2031. Cereals, such as wheat, rice, maize (corn), and barley, form the foundation of diets for billions worldwide. They are consumed daily in various forms, including bread, pasta, rice dishes, and breakfast cereals, making them indispensable for meeting basic nutritional needs.
The Wholesale Distributors segment is growing at a CAGR of 6 % during the forecast period. Wholesale distributors play a critical role in the staple food market by efficiently connecting producers (farmers, manufacturers) with retailers, food service providers, and institutional buyers. They streamline the distribution process, ensuring timely delivery and a consistent supply of staple foods to meet market demand.
Full Report: https://www.kbvresearch.com/staple-food-market/
The Asia Pacific region dominated the Global Staple Food Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $960 billion by 2031. The North America region is anticipated to grow at a CAGR of 6.3% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 6.8% during (2024 - 2031).
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