Millets Market

Millets Market was valued at USD 9,300 Million in 2019 and is expected to register a CAGR of 4.2% during the forecast period.

Introduction of the Millets Market Report

Millet is the cereal grain that belongs to the Poaceae family, also called the grass family. This type of crop is considered an important crop in the semiarid tropics of Asia and Africa, with around 97% of millet production in the developing economies.

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Market Dynamic

Key Drivers and Emerging Trends

One of the major factor that is responsible for the growth of the global millets market includes the increasing inclination of urban pollution towards healthy food products, especially in the Asia-Pacific region. The emerging trend of urban lifestyle along with the changing eating patterns is further surging the growth of the market during the forecast period. There has been an increase in the number of chronic diseases around the world, such as obesity, diabetes, and other cardiovascular problems is further driving the demand for millets over the coming years. As per the IDF, in 2020, there were around 463 million people having diabetes in the world and 88 million people in the SEA region. In India, the adult population amounted to 859 million, and the prevalence rate of diabetes in this population was around 8.9% for the same year.

As per the FAO, India is one of the largest global producers with 41.0% contribution in the global market share for the year 2019. Millet is a superfood that has an ample amount of nutrients such as magnesium, copper, phosphorus, and manganese. They are gaining traction over the coming years due to the changing climatic conditions. This has encouraged the farmers to shift towards the cultivation of millets, which stands in times of drought and can withstand excessive high temperature. Additionally, the growing awareness related to the benefits provided by millets, such as help in weight loss, has a low glycemic index, and a superfood, is further contributing to the market growth.

Restraint in the Millets Market

On the other edge, the high price of millets as compared to other largely consumed grains is a major factor that is hampering the market growth.

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Product – Segment Analysis

Based on the product, the pearl is projected to grow at a higher CAGR during the forecast period. This is mainly due to its highest cultivation in the millets market. This product type is considered as an important species of millet in terms of harvested areas and food security in the Asia-Pacific and Africa region. It is a type of organic millet and is rich in starch and protein content.

Application – Segment Analysis

Based on the application, infant food is predicted to grow at a higher CAGR during the forecast period. The increasing popularity of millet based infant food products such as porridge as they reduce the possibility of malnutrition in infants and babies is surging the market growth. Moreover, they are easily available through different platforms such as supermarkets and e-commerce sites, which is further driving the market growth.

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Regional – Segment Analysis:

On the basis of regional coverage, Asia-Pacific is expected to dominate the market over the forecast period. As per FAO, in 2017, India, China, , Niger, and Mali, were the top five millets production countries. Thus, the growing production of millets is contributing to the market growth. In India, 2023 will be considered as the International Year of Millets after the country’s proposal to the Food and Agricultural Organization (FAO) got approved. Moreover, the Indian government initiated 2018 as the National Year of Millets to increase the production of the nutrition-rich millets, and the agro-industries involves in its production. Thus, the rising support from the government to increase the production of millets is further surging the market growth.

Top Market Players

Some of the leading players operating in the market, include Viruthai Millets, Sahaja Organics, Janadhanya, Dharani FaM CooP Ltd., Shimlahills, South Indian Grains Corporation, Earthon Products Pvt. Ltd., Dharmapuri District Minor Millet Farmers Producers Company Ltd., Prisrine Organics, and Just Organik, among others.

Segments covered in the Report:

The global Millets market has been segmented on the basis of Product, Application, and regions. Based on Product, the market is segmented into Pearl, Finger, Proso, Foxtail, and Others. Based on Application, the market is segmented into Infant Food, Bakery Food, Breakfast Food, Beverages, Fodder, and Others Based on Distribution Channel, the market is segmented into Trade Associations, Supermarkets, Traditional Grocery stores, Online stores, and Others. 

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Key questions answered in this research report:

• • At what pace is global Millets market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Millets market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Millets market?
  • Which Product generated maximum revenues in 2019 and identify the most promising Product during the forecast period?
  • What are the various Application areas of global Millets market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Millets Market by Product

• • Pearl
  • Finger
  • Proso
  • Foxtail
  • Others

Global Millets Market by Application

• • Infant Food
  • Bakery Food
  • Breakfast Food
  • Beverages
  • Fodder
  • Others

Global Millets Market by Region

• • North America Millets Market (Option 1: As a part of the free 25% customization)
    • North America Millets Market by Product
    • North America Millets Market by Application
    • US Millets Market All-Up
    • Canada Millets Market All-Up
  • Europe Millets Market (Option 2: As a part of the free 25% customization)
    • Europe Millets Market by Product
    • Europe Millets Market by Application
    • UK Millets Market All-Up
    • Germany Millets Market All-Up
    • France Millets Market All-Up
    • Spain Millets Market All-Up
    • Rest of Europe Millets Market All-Up
  • Asia-Pacific Millets Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Millets Market by Product
    • Asia-Pacific Millets Market by Application
    • China Millets Market All-Up
    • India Millets Market All-Up
    • Japan Millets Market All-Up
    • Rest of APAC Millets Market All-Up
  • RoW Millets Market (Option 4: As a part of the free 25% customization)
    • RoW Millets Market by Product
    • RoW Millets Market by Application
    • Brazil Millets Market All-Up
    • South Africa Millets Market All-Up
    • Saudi Arabia Millets Market All-Up
    • UAE Millets Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Millets Market All-Up

Major Players Operating in the Millets (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Viruthai Millets
  • Sahaja Organics
  • Janadhanya
  • Dharani FaM CooP Ltd.
  • Shimlahills
  • South Indian Grains Corporation
  • Earthon Products Pvt. Ltd.
  • Dharmapuri District Minor Millet Farmers Producers Company Ltd.
  • Prisrine Organics
  • Just Organik