Millet Market size was valued at USD 10.86 Billion in 2022 and the total Millet Market revenue is expected to grow at 4.82 % from 2023 to 2029, reaching nearly USD 15.11 Billion.
Millet Market Overview:
The goal of this research is to provide an overview of the Millet market as well as detailed market segmentation based on connection type, end-use, and geography. The study contains critical information on the market positions of the leading Millet players, as well as noteworthy industry trends and opportunities.
The analysis also focuses on the Global Millet market’s key top industry players, providing information such as company biographies, product pictures and specifications, capacity, production, price, cost, revenue, and contact information. This study examines the Millet Market Trends, Volume, and Value at the Global, Regional, and Company Levels. This report analyses the entire Millet Market Size from a global perspective by analyzing historical data and prospects.
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Millet Market Scope:
The report also focuses on the leading industry players in the Global Millet market, giving information such as company biographies, product images and specifications, capacity, production, price, cost, revenue, and contact information.
Millet Market Dynamics:
Millet is a tiny, round whole grain that is widely farmed in India, Nigeria, and other Asian and African countries. Drought and insect resistance are two of millet’s many advantages over other crops.These millets may even survive in hostile conditions and poor soil.Millets are popular in many Asian and African nations due to their gluten-free and hypoglycemic qualities. They exceed traditional grains like wheat and rice in terms of nutrients and come in a variety of colours including white, red, grey, and pale yellow. The main advantage of millets is that they do not require pesticides because they are less susceptible to insect attack than other major grains. Millets are the principal stable crops for food and animal feed in various countries.
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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
In India and other Asian and African countries, millets frequently include sorghum, pearl millet, and a variety of tiny millets.India is the world’s largest producer and consumer of millets, including finger millet, pearl millet, Kodo millet, foxtail millet, proso millet, barnyard millet, and tiny millet.India is the world’s sixth largest producer of sorghum. Millets have been studied in terms of perceptions, consciousness, and knowledge. The nutritional benefits of finger millet have been widely recognised through research on pearl millet, finger millet, and sorghum undertaken in India and South Africa.
The millet market is classified as fodder, bread goods, alcoholic and non-alcoholic beverages, breakfast meals, and infant feeding. Infant food prepared from millets, such as porridge, is ideal for expanding the infant market and reducing the incidence of malnutrition in newborns. Bakery items, notably packaged cookies, are increasing appeal as they become more widely available in supermarkets, hypermarkets, and e-commerce sites, particularly in Asia Pacific countries.
The millets market is split into super and hypermarkets, grocers, online retailers, and others based on distribution channel. The others sector dominated the millets market, while the online segment is expected to grow at the fastest rate over the forecast period. Millets are also available through wholesalers, specialty stores, and direct sales. Direct sales channels connect millet product producers with food processing enterprises, as well as consumers with millet product producers. Millets sold in speciality stores yield lower sales revenues. Many millet producers desire to sell their products through retail locations because purchasers are more confidence when they can see the product in person.
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Millet Market Key Players:
Inorganic growth techniques noted in the sector included acquisitions, partnerships, and collaborations. With growing demand, industry participants in the Millet market are projected to benefit from excellent future growth opportunities. The following are a few companies participating in the worldwide Millet industry.
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)
Regional Analysis:
The research also includes a comprehensive PESTLE analysis for each of the five areas, namely North America, Europe, Asia Pacific, the Middle East, and Africa, and South America, after examining the political, economic, social, and technological variables influencing the Millet market in these regions.
COVID-19 Impact Analysis on Millet Market:
As a result of the COVID-19 outbreak, customer behavior has transformed throughout all sectors of society. Industries, on the other hand, will need to adjust their strategies to account for altering market supplies. This study gives an outline of the COVID-19’s impact on the Millet market and will help you build your business in compliance with the new industry standards.
Key Questions Answered in the Millet Market Report are:
- What will be the CAGR of the Millet market during the forecast period?
- Which segment emerged as the leading segment in the Millet market?
- Which are the prominent players in the Millet market?
- What will be the Millet market size by 2027?
- Which company held the largest share in the Millet market?
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