The millet flour global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Millet Flour Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The millet flour market size has grown strongly in recent years. It will grow from $5.37 billion in 2023 to $5.83 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to increased awareness of the health benefits, high prevalence of gluten intolerance and celiac disease, government support and subsidies for millet cultivation in certain countries, the relative affordability of millet compared to other grains, demand for millet flour in traditional and ethnic cuisines.
The millet flour market size is expected to see strong growth in the next few years. It will grow to $8.15 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to increasing focus on health and wellness, expanding gluten-free product lines by food manufacturers, new product innovations and diversification, such as ready-to-eat millet snacks and millet-based beverages, growing middle-class populations in developing countries, enhanced distribution networks and the growth of e-commerce platforms, continued emphasis on sustainable agriculture and eco-friendly practices. Major trends in the forecast period include expanding gluten-free product lines, innovative millet-based products, rising middle-class demand in developing countries, enhanced distribution channels, growth of e-commerce platforms, and emphasis on sustainable agriculture.
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Scope Of Millet Flour Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Millet Flour Market Overview
Market Drivers –
The increasing demand for healthy and nutritious food products is expected to propel the growth of the millet flour market going forward. Healthy and nutritious food products encompass a variety of whole foods rich in essential nutrients, vitamins, and minerals, supporting overall well-being and optimal health. The increasing demand for healthy and nutritious food products reflects a growing awareness and prioritization of personal health and well-being among consumers worldwide. Healthy and nutritious food products utilize millet flour for its gluten-free properties and nutrient-rich profile, contributing to diverse and wholesome dietary options. For instance, in May 2022, according to an online survey conducted by the International Food Information Council of 1,005 Americans ages 18 to 80., a US-based non-profit organization, 52% of Food and Health Survey participants followed a specific diet or eating pattern, up from 39% in 2021. The increased dieting has come primarily from consumers under the age of 50. The most common diets or eating patterns this year include clean eating (16%), mindful eating (14%), calorie counting (13%), and plant-based eating (12%). Therefore, increasing demand for healthy and nutritious food products will drive the millet flour market.
Market Trends –
Major companies operating in the millet flour market are adopting innovative millet flour bakery and patisserie mixes to meet the rising demand for gluten-free and nutritious baked goods, catering to health-conscious consumers worldwide. Millet flour enhances bakery and patisserie mixes by providing gluten-free alternatives with a nutritious profile, catering to dietary preferences and health-conscious consumers. In August 2023, PURATOS INDIA, an India-based bakery and confectionery manufacturer, launched millets-based products such as Easy Puravita Millet Bread Mix and Tegral Satin Millet Cake Mix. These innovations promote health benefits by substituting jaggery for refined sugar and eliminating both refined sugar and refined wheat flour (maida), catering to the increasing demand for vegan options in the food industry while being entirely plant-based.
The millet flour market covered in this report is segmented –
1) By Type: Sorghum Millet Flour, Proso Millet Flour, Pearl Millet Flour, Foxtail Millet Flour, Finger Millet Flour, Browntop Millet Flour, Barnyard Millet Flour, Little Millet Flour, Buckwheat Millet Flour, Other Types
2) By Nature: Organic, Conventional
3) By Application: Bakery And Confectionary, Sauces Dressings and Condiments, Snacks, Baby Food, Dietary Supplement, Other Applications
4) By Distribution Channel: Direct Sales, Indirect Sales
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Regional Insights –
Asia-Pacific was the largest region in the millet flour market in 2023. The regions covered in the millet flour market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the millet flour market are ITC Limited, Hain Celestial Group, Ardent Mills LLC, Vitacost.com Inc., Bob’s Red Mill Natural Foods Inc., King Arthur Baking Company, Azure Standard, Raja Foods LLC, Hodgson Mill, Doves Farm, Pristine Organics Pvt. Ltd., Conscious Food Pvt. Ltd., Jiwa, Desi Foods LLC, Great River Organic Milling Co., Just Organik, Manna Foods, Native Food Store Pvt. Ltd., Organic Tattva, Rani Foods Inc.
Table of Contents
1. Executive Summary
2. Millet Flour Market Report Structure
3. Millet Flour Market Trends And Strategies
4. Millet Flour Market – Macro Economic Scenario
5. Millet Flour Market Size And Growth
…..
27. Millet Flour Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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