Millet Market size was valued at USD 11.38 Billion in 2023 and the total Millet Market revenue is expected to grow at 4.82 % from 2024 to 2030, reaching nearly USD 15.82 Billion.
Millet Market Overview:
The millet market has experienced notable growth in recent years due to a shift in consumer preferences toward healthier and more sustainable food choices. As a nutritious and versatile ancient grain, millet offers various health benefits, such as being gluten-free, rich in fiber, and providing essential vitamins and minerals. With increasing awareness of the importance of plant-based diets and natural foods, millet is becoming a popular choice for consumers looking to incorporate more whole grains into their diets. Millet is used in a wide range of products, from breakfast cereals to snacks and even gluten-free flour alternatives, making it an attractive ingredient for both consumers and food manufacturers.
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Millet Market Trends:
One of the prominent trends in the millet market is the increasing demand for gluten-free and plant-based alternatives. As more individuals adopt gluten-free and vegan diets, millet is gaining popularity due to its natural gluten-free properties and its versatility as a substitute for wheat and other grains in various food products. This trend is particularly evident in the production of gluten-free flour, snacks, and energy bars, where millet serves as a healthier, more sustainable option. Additionally, the rising prevalence of chronic diseases such as obesity and diabetes has led consumers to seek out grains like millet, which are lower in glycemic index and provide long-lasting energy, contributing to their growing popularity in health-conscious communities.
What are Millet Market Dynamics?
The millet market is driven by several key factors, including increasing consumer demand for gluten-free and plant-based foods, which has fueled the popularity of millet as a substitute for wheat and other grains. The growing awareness about the health benefits of millet, such as its high nutritional content, fiber, and antioxidants, is also influencing market dynamics. Moreover, the increasing focus on sustainable and resilient agricultural practices is helping to boost the cultivation of millet, as it is known for its ability to thrive in drought-prone and marginal lands. This makes millet a viable option for farmers in regions facing challenges related to climate change and water scarcity, further driving its growth in the market.
Millet Market Opportunities:
The millet market presents numerous opportunities, particularly in the realm of product innovation and expansion into new markets. There is a growing potential for the development of new millet-based food products, such as ready-to-eat meals, energy snacks, and health supplements, that cater to the increasing demand for functional foods. Additionally, as the global trend toward plant-based diets and gluten-free lifestyles continues to rise, the market for millet flour, millet-based beverages, and other millet-derived products is expected to expand significantly. Food manufacturers can capitalize on these opportunities by introducing innovative products that meet consumer demands for convenience, nutrition, and sustainability.
What is Millet Market Regional Insight?
The millet market is experiencing steady growth across various regions, with Asia and Africa being key contributors due to the long-standing cultivation and consumption of millet in these regions. In countries such as India, China, and several African nations, millet is an important staple crop that forms the foundation of many traditional diets. In these regions, the millet market benefits from a deep-rooted cultural connection to the grain, making it an essential component of local food systems. The growing recognition of millet’s health benefits, along with efforts to promote its cultivation as a drought-resistant crop, is driving increased production and consumption in these regions.
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What is Millet Market Segmentation?
by Product Type
finger millet
pearl millet
Kodo millet
foxtail millet
proso millet
barnyard millet
little millet
by Application
Bread goods,
Alcoholic and non-alcoholic beverages
Breakfast foods
Infant food
by Distribution Channel
super and hypermarkets
grocers
online retailers
Others
Some of the current players in the Millet Market are:
1. Cargill (US)
2. Archer Daniels Midland Company (US)
3. Seedway, LLC. (US)
4. Ernst Conservation Seeds (US)
5. Eastern Colorado Seeds, LLC (US)
6. Roundstone Native Seed Company (US)
7. Allied Seed, LLC (US)
8. Janadhanya Farmers Producer Company Limited (India)
9. Sresta Natural Bioproducts Pvt Ltd (India)
10. Just Organik (India)
11. Earthon Products Pvt Ltd (India)
12. Shimla Hills Offerings Pvt. Ltd. (India)
13. Pristine Organics Pvt Ltd. (India)
14. Sahaja Samrudha Organic Producer Company Ltd (SSOPCL) (India)
15. Viruthai Millets Farmer Producer Company Ltd. (India)
16. Crystal Crop Protection Pvt. Ltd. (India)
17. DUGAD Agro Foods (India)
18. Croda International Plc (UK)
19. Nestlé S.A. (Switzerland)
20. NH Foods Ltd (Japan)
21. Bayer Crop Science AG (Germany)
22. BASF SE (Germany)
23. Mirfak Pty Ltd, Nuts in Bulk (Australia)
24. RR Agroflorestal LTDA (Brazil)
25. Kerry Group plc (Ireland)
26. BrettYoung (canada)
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Key Offerings:
- Past Market Size and Competitive Landscape
- Millet Market Size, Share, Size & Forecast by different segment
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Millet Market Segmentation – A detailed analysis by Product
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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