Millet Market: Global Industry Forecast (2022-2029) by Product type, Application, Distribution Channel, Region

Millet Market size was valued at USD 10.37 Billion in 2021 and the total Millet Market revenue is expected to grow at 4.82 % from 2022 to 2029, reaching nearly USD 15.11 Billion.

Millet Market Overview:

Millet are small, round whole grain grown in India, Nigeria and other Asian and African countries. Millet has multiple advantages over other crops, including drought and pest resistance .These millets even survive during harsh environments and less fertile soil .Millets plays an important role in many countries like Asia and Africa, due to gluten free and hypoglycemic properties. They outperform traditional grains like wheat and rice in terms of nutrition and are available in variety of different colors such as white, red, gray, pale yellow. The Great advantage of the millets is that they do not require any pesticides as they are less vulnerable to insect attack when compared with other major cereals. Millets are the main stable crops food and animal fodder in several parts of Africa. There has been steadily hike in consumer preference for millet which has increased the millet production. While ensuring the sustainable agriculture production, millets also helps to attain another goal of UN, ensuring healthy lives and promoting well-being for all at all ages.

Research Methodology:

In this report, the analysis of the future trends has incorporated with statistical and econometric methods which are further scrutinized by primary as well as secondary research. The research is carried out for analyzing the future trends for the studied market during the forecasted period. Maximize Market Research uses a thorough and iterative research technique with a minimal deviation focus to produce the most precise estimations and forecasts. For market segmentation and estimation of quantitative features, the report has been made by using top-down and bottom-up methodologies. The report of Global Millets Market is segmented by product type (finger millet, pearl millet, Kodo millet, foxtail millet, proso millet, barnyard millet and little millet) ,Application ( Bakery products , breakfast food, Beverages ,fodder and others)by region (North America, Asia Pacific,Europe,Middle East & Africa and South Africa) By Distribution Channel (Online stores, Traditional grocery stores Trade Association and others). Millet MarketTo know about the Research Methodology :- Request Free Sample Report

Report scope:

The report provides comprehensive market insights for industry stakeholders, including an explanation of complicated market data in simple language, the industry's history and present situation, as well as expected market size and trends. The research investigates all industry categories, with an emphasis on key companies such as market leaders, followers, and new entrants. The paper includes PESTLE analysis for each country. A thorough picture of the competitive landscape of major competitors in the Contact Centre Software market by goods and services, revenue, financial situation, portfolio, growth plans, and geographical presence makes the study an investor's guide.

Millet Market Dynamics:

Market Drivers: Data on health indicators, published by NFHS (National Family Health Survey) report 2021 shows that 59.1% of women are anaemic, 35.6% of children are stunted, and 32.2% of children are underweight. As millet are nutritionally superior to cereals, on-acid forming, on allergic, easy to digest and rich in protein antioxidants, dietary fibre, there has been great demand of Millets. The proposal to the United Nations General Assembly (UNGA) year 2023 has been declared as the International Year of Millets. As Millets helps in maintaining body weight, improving haemoglobin levels, reducing iron deficiency, fighting anaemia, diabetes, cardiovascular diseases there has been higher production and productivity of millets across the globe. Around 70 countries have pledged to engage various stakeholders for promoting the wilder usage of millets. Farmers have started shifting away from wheat and rice farming in favour of millet because of the steadily rising demand from Asia Pacific nations, primarily China and India. Demand for millets products will increase during the projection period as the urban population's preference for healthy foods grows and as unsustainable rice and wheat production rises. People decided to switch from eating junk food to renowned rich super foods like millets and derivatives in order to strengthen their immunity. During the projection period, more consumers are anticipated to want millets as a healthy option. One of the main drivers of the demand for organic millet internationally is the change in consumer lifestyles, which has increased their propensity for healthier foods. High levels of protein and minerals found in organic millets assist prevent ailments including obesity, diabetes, and cardiovascular issues. Market Restraints: Lack of access to quality seeds is the biggest reason for low consumption levels of millet. Inadequate primary processing at the village level and a huge distance between production units to processing units has inflated the cost of processed millet products. Private entrepreneurs are unaware of the existing government policies and programme that enable them to avail credit and other support to procure and process millets using technology into ready to eat /ready to cook value added millet products, which in turn has limited the marketing of millets. Market Opportunities: Promotional intervention for millets are government driven in many regions. The government has provided different kinds of supports like finance, infrastructure, technology etc. for the various stakeholders. The Minimum Support Price (MSP) for significant millets has already been announced in most states which has created tremendous opportunities for millet productions The processing units are placed closer to production sites where at first primary processing and quality control checks are made and then secondary processing quality control checks packaging and branding are done at central level in bigger scale. This has helped in reducing the factory gate pricing of millet products and has generated farm opportunities and better monetary benefits for millet cultivators.

Millet Market Segment Analysis:

Based on Product Type, In India and other Asian and African countries millets commonly include sorghum, pearl millet and range of small milltes.India is the leading producer and consumer of different type of millets such as finger millet, pearl millet, Kodo millet, foxtail millet, proso millet, barnyard millet and little millet.India is the sixth largest producer of sorghum globally. Studies have investigated the perceptions, awareness and knowledge on millets. Research conducted on pearl millet, finger millet and sorghum conducted in India, South Africa has recognized the widespread about the nutritional benefits of finger millet. Millet Market Based on Application, the millet market is divided into fodder, bread goods, alcoholic and non-alcoholic beverages, breakfast foods, and infant food. Infant food made of millets, like porridge, is perfect for the expansion of the infant market and will help to reduce the incidence of malnutrition in new-borns. Due to their widespread availability in supermarkets, hypermarkets, and e-commerce sites, particularly in Asia Pacific nations, bakery items, including packaged cookies, are progressively gaining popularity. Millet Market Based on the distribution channel, the millets market is divided into super and hypermarkets, grocers, online retailers, and others. The market for millets was dominated by the others sector, but throughout the projected period, the online segment is anticipated to develop at the highest rate. Millets can also be distributed through wholesalers, specialised shops, and direct sales. Direct sales channels establish connections between millet product producers and food processing businesses as well as between consumers and millet product producers. The sale of millets in specialty stores generates lower sales revenues. Many millet producers want to offer their products through retail outlets because buyers are more confident when products are physically accessible

Millet Market Regional Insights:

In 2021 ,Millets were the world’s 3501st most traded product with the total share of $205M.The past few years has seen significant rise in the global demand for millets with the global exports growing by 45.8% between 2020-2021.India is the topmost producer of Millets , the United states leads the contribution in exports with a share of around 30%.50% of the Millets produced globally are imported to Indonesia, Iran, Germany, Belgium and South Korea among others establishing the Asia Pacific, Middle East and EU as regions of major global demand. The Asia –Pacific is emerging as a hotspot for activity around millets, with pearl millets being one of the most popular commodities due to its high volume share in the global trade. India contributes to nearly 20% of the global export value of Millets and thus is a key player in terms of ability to provide for global demand. China has shown gradual increase in the yields of millets. Other countries with relatively lower share in exports from India for Millets, like Kenya and Oman have shown even higher growth in the amount exported during the last few years.

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Millet Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US $ 10.37 Bn.
Forecast Period 2022 to 2029 CAGR: 4.82% Market Size in 2029: US $ 15.11 Bn.
Segments Covered: 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

Millet Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Millet Market Key Players

• Cargill • Archer Daniels Midland Company • Wise Seed Company • E.I. DuPont De Nemours and Company • Bayer Crop Science AG • Ernst Conservation Seeds • Brett-Young Seeds Limited • Roundstone Native Seed Company • Janadhanya Farmers Producer Company Limited • Dharani FaM CooP Ltd • Treta Agro (P) Ltd • Sresta Natural Bioproducts Pvt Ltd • Just Organik • Earthon Products Pvt Ltd • Shimla Hills Offerings Pvt. Ltd. • Pristine Organics Pvt Ltd. • Sresta Natural Bioproducts Pvt. Ltd. • Sahaja Samrudha Organic Producer Company Ltd (SSOPCL) • Viruthai Millets Farmer Producer Company Ltd. (VMFP FAQs: 1. Which is the potential market for the Millet Market in terms of the region? Ans. In Asia-Pacific region, the growing business and educational sectors are expected to help drive the use of collaborative screens. 2. What are the opportunities for new market entrants? Ans. The key opportunity in the market is new initiatives from governments that provide funding for Millet Markets. 3. What is expected to drive the growth of the Millet Market in the forecast period? Ans. A major driver in the Millet Market is the prevalence of work from home and remote collaboration created by the COVID-19 pandemic 4. What is the projected market size & growth rate of the Millet Market? Ans. The Millet Market size was valued at US$ 10.37 Billion in 2021 and the total Millet Market revenue is expected to grow at 4.82 % through 2021 to 2029, reaching nearly US$ 15.11 Billion. 5. What segments are covered in the Millet Market report? Ans. The segments covered by Product Type, Application, Distribution Channel and Region.
1. Global Millet Market: Research Methodology 2. Global Millet Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Millet Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Millet Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Millet Market Segmentation 4.1 Global Millet Market, by Product Type (2021-2029) • finger millet • pearl millet • Kodo millet • foxtail millet • proso millet • barnyard millet • little millet 4.2 Global Millet Market, by Application (2021-2029) • bread goods, • alcoholic and non-alcoholic beverages • breakfast foods • infant foo 4.3 Global Millet Market, by Distribution Channel (2021-2029) • super and hypermarkets • grocers • online retailers • others 5. North America Millet Market (2021-2029) 5.1 North America Millet Market, by Product Type (2021-2029) • finger millet • pearl millet • Kodo millet • foxtail millet • proso millet • barnyard millet • little millet 5.2 North America Millet Market, by Application (2021-2029) • bread goods, • alcoholic and non-alcoholic beverages • breakfast foods • infant food 5.3 North America Millet Market, by Distribution Channel (2021-2029) • super and hypermarkets • grocers • online retailers • others 5.5 North America Millet Market, by Country (2021-2029) • United States • Canada • Mexico 6. Europe Millet Market (2021-2029) 6.1. European Millet Market, by Product Type (2021-2029) 6.2. European Millet Market, by Application (2021-2029) 6.3. European Millet Market, by Distribution Channel (2021-2029) 6.4. European Millet Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Millet Market (2021-2029) 7.1. Asia Pacific Millet Market, by Product Type (2021-2029) 7.2. Asia Pacific Millet Market, by Application (2021-2029) 7.3. Asia Pacific Millet Market, by Distribution Channel (2021-2029) 7.4. Asia Pacific Millet Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Millet Market (2021-2029) 8.1 Middle East and Africa Millet Market, by Product Type (2021-2029) 8.2. Middle East and Africa Millet Market, by Application (2021-2029) 8.3. Middle East and Africa Millet Market, by Distribution Channel (2021-2029) 8.4. Middle East and Africa Millet Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Millet Market (2021-2029) 9.1. South America Millet Market, by Product Type (2021-2029) 9.2. South America Millet Market, by Application (2021-2029) 9.3. South America Millet Market, by Distribution Channel (2021-2029) 9.4. South America Millet Market, by Country (2021-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 . Cargill 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Wise Seed Company 10.3 E.I. DuPont De Nemours and Company 10.4 Bayer Crop Science AG 10.5 Ernst Conservation Seeds 10.6 Brett-Young Seeds Limited 10.7 Roundstone Native Seed Company 10.8 Janadhanya Farmers Producer Company Limited 10.9 Dharani FaM CooP Ltd 10.10 Treta Agro (P) Ltd 10.11 Sresta Natural Bioproducts Pvt Ltd 10.12 Just Organik 10.13 Earthon Products Pvt Ltd 10.14 Shimla Hills Offerings Pvt. Ltd. 10.15 Pristine Organics Pvt Ltd. 10.16 Sresta Natural Bioproducts Pvt. Ltd. 10.17 Sahaja Samrudha Organic Producer Company Ltd (SSOPCL) 10.18 Viruthai Millets Farmer Producer Company Ltd. (VMFP

About This Report

Report ID 105674
Category Food & Beverages
Published Date Sept 2022
Updated Date
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