$15.3bn
$X.Xbn
51,017
9,080
$XXX.Xm
Canadian wheat farms have grown despite considerable economic volatility through the end of 2023. The industry is highly globalized and reliant on trade, which has improved following the dismantling of the Canadian Wheat Board in 2012; the board had restricted the marketing freedom of farms. Demand for Canadian wheat abroad has risen because of its reputation for high quality. Favourable price increases driven by world wheat prices have improved farm revenue and profitability. Improved trade ties with emerging economies have also aided growth by helping farmers tap into demand from new markets. Wheat farming revenue is expected to climb at a CAGR of 4.2% to an estimated $15.3 billion through the end of 2023, despite a decrease of 1.2% in 2023 because of lower wheat prices.
Industry revenue has grown at a CAGR of 4.2 % over the past five years, to reach an estimated $15.3bn in 2023.
Market size is projected to decline over the next five years.
Company | Market Share (%)
2023 | Revenue ($short_0)
2023 | Profit ($short_0)
2023 | Profit Margin (%)
2023 |
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There are no companies that hold a large enough market share in the Wheat Farming in Canada industry for IBISWorld to include in this product.
Industry revenue is measured across several distinct product and services lines, including Spring wheat, Winter wheat and Durum wheat. Spring wheat is the largest segment of the Wheat Farming in Canada.
Spring wheat production climbs further
The Wheat Farming industry in Canada comprises establishments primarily engaged in growing one or more varieties of wheat.
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NAICS 111140 - Wheat Farming in Canada
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Canadian wheat farms have exhibited growth, even amid economic volatility. Global supply concerns caused the world price of wheat to skyrocket and Canada's position as one of...
Learn about an industry's products and services, markets and trends in international trade.
Spring wheat is the most popular product. Spring wheat is used for baked goods, including pastries, cakes, cereal, crackers, biscuits and pasta and is much better suited to C...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Most farmers are concentrated in Saskatchewan and Alberta, with those two provinces containing about three-quarters of all establishments. These two provinces have desirable ...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Most wheat farmers compete on price and product mix. Types of wheat include durum wheat, winter wheat and spring wheat, with more than half a dozen different varieties of spr...
Learn about the performance of the top companies in the industry.
Most wheat farms are single locations serving a single geographic area. No company accounts for a significant share of revenue.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
World wheat prices determine a farm’s performance. When prices grow, farmers achieve greater profit and sales climb.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Climbing wheat prices are boosting profit. Wheat farmers in Canada have been better able to manage fixed costs and are using advanced technology to improve their yields at lo...
Including values and annual change:
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Key data sources in Canada include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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The market size of the Wheat Farming industry in Canada is $15.3bn in 2024.
There are 9,080 businesses in the Wheat Farming industry in Canada, which has declined at a CAGR of 1.8 % between 2018 and 2023.
The market size of the Wheat Farming industry in Canada has been growing at a CAGR of 4.2 % between 2018 and 2023.
Over the next five years, the Wheat Farming industry in Canada is expected to decline.
Spring wheat and Winter wheat are part of the Wheat Farming industry.
The level of competition is moderate and steady in the Wheat Farming industry in Canada.