The millets 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.
Millets 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 millets market size has grown strongly in recent years. It will grow from $10.99 billion in 2023 to $11.67 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to increasing nutritional awareness, increasing health and wellness trends, rise in sustainable agriculture, government initiatives.
The millets market size is expected to see strong growth in the next few years. It will grow to $14.39 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to global population growth, climate change resilience, urbanization and convenience, research and development. Major trends in the forecast period include consumer education, research and innovation, culinary diversity, gluten-free and allergen-friendly foods.
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Scope Of Millets 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.
Millets Market Overview
Market Drivers –
The growing number of obesity-related problems is expected to propel the growth of the millets market. Obesity refers to a range of health issues that can arise from excessive body fat. Obesity-related disorders occur when the body cannot burn body fat through physical activity and exercise. Millets are high in critical vitamins and minerals, which can improve overall health and well-being, in addition to weight management and lowering obesity-related disorders. For instance, according to the World Obesity Atlas 2022, published by the World Obesity Federation, a UK-based non-profit organization, one billion people globally, including 1 in 5 women and 1 in 7 men, will be living with obesity by 2030. It will increase to 4 billion people, or 51% of the global population, living either overweight or obese by 2035. Therefore, the growing number of obesity-related problems is driving the growth of the millet market.
Market Trends –
Companies operating in the millet market are investing and identifying opportunities within the food industry to create or promote products to sustain their position in the market. Investment in millets is required to support market growth, address climate and food security problems and encourage millets’ health benefits. For instance, in February 2022, Wholsum Foods Pvt. Ltd., an India-based food startup, raised $7 million to expand millet-based offerings and the investment will help Wholsum Foods achieve its mission of making millets more accessible and appealing to consumers. Furthermore, in March 2023, Ivar Agro, an India-based food startup, invested 27.5 million (200 crores) to set up a millet-based food products project in Uttarakhand. The project is expected to be completed by 2024 and will have a monthly production capacity of 1,000 metric tons of millet-based products, including biscuits, cookies and flour.
The millets market covered in this report is segmented –
1) By Product Type: Pearl Millet; Foxtail Millet; Sorghum; Finger Millet; Other Products
2) By Distribution Channel: Trade Associations; Supermarkets; Grocery Stores; Online Platforms; Other Distribution Channels
3) By End Use: Ready To Eat Food; Direct Consumption; Bakery Products; Alcoholic Beverages; Non-Alcoholic Beverages; Breakfast Foods; Fodder
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Regional Insights –
Asia-Pacific was the largest region in the millets market in 2023. Africa is expected to be the fastest-growing region in the forecast period. The regions covered in millets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major players in the millets market are Cargill Inc., Nestle S.A., Archer Daniels Midland Company, Bayer Crop Science AG, E.I. DuPont De Nemours and Company, Glanbia Nutritionals Inc., Warburtons Ltd., Bobs Red Mill UK Ltd., Bay State Milling Company, Grain Millers Inc., Woodland Foods, Eden Foods Inc., Sresta Natural Bioproducts Pvt. Ltd., Ernst Conservation Seeds, Sydler India Pvt. Ltd., Brett-Young Seeds Limited, Minn-Dak Growers Ltd., Wise Seed Company Inc., Avena Foods Limited, Roundstone Native Seed Company, To Your Health Sprouted Flour Co., Dharani FaMCooP Ltd., Nature’s Logic, Arrowhead Mills Inc., Navan Foods LLC, Mayoora Foods LLC.
Table of Contents
1. Executive Summary
2. Millets Market Report Structure
3. Millets Market Trends And Strategies
4. Millets Market – Macro Economic Scenario
5. Millets Market Size And Growth
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27. Millets Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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