Millet Market Share Expected to Reach USD 15.82 Billion Through 2030

The Millet Market Share was worth USD 11.38 billion in 2023, with a 4.82% CAGR to be valued nearly USD 15.82 billion by 2030. The augmented consumer knowledge about the health benefits of millets and the ability of the crop to survive the draught conditions are responsible for this growth.

Market Drivers & Opportunities The growth in the market

Millets are small whole grains and round grains, grown mainly in India, Nigeria and also some countries in Asia and Africa. They have many benefits over other crops, like being drought and pest resistant so they can grow in rough conditions, or less fertile soils. They rank highest among traditional grains such as wheat and rice in nutrition because of their gluten-free and hypoglycemic nature, which is why many consumers choose them for healthy breakfast. Millets are offered in colors like white, red, gray, and pale yellow, and they are less susceptible to insect attacks compared with other major cereals, hence do not need pesticides. Millets are consumed as a staple diet as well as animal fodder by various regions in Africa. As millet becomes the go-to grain for modern consumers. They also help drive sustainability in agriculture, thus advancing the UN Sustainable Development Goal on ensuring healthy lives and promoting well-being for all at all ages.

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Segmentation Analysis

Millet Market Report Segmentation The millet market is segmented into product type, application, distribution channel, and region.

by Millet Types: The millet types available in the market include finger millet, pearl millet, Kodo millet, foxtail millet, proso millet, barnyard millet, and little millet. These are grown depending on the climate conditions of the area due to the different nutritional values of these varieties.

by Utilization: Millets are used in bakery products, breakfast foods, beverages, fodder etc. It makes it easy enough to use them in multiple food products for a greater range of healthy and nutritious food products.

The market can be divided into online stores, grocery stores, and trade associations, among others. A growing share of millet-based products can be found at the hands of consumers through the increasing penetration of e-commerce platforms.

Regional Insights

On the basis of geography, the market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Millets Market: Region-wise Outlook Asia Pacific region accounts for substantial share of the millet market [image: (Asia Pacific region accounts for substantial share of the millet market)], in millet producing and consuming Individuals are biggest millet producers and egory consumers in Asia Pacific. Market growth is bolstered by the consumption of millets regularly as part of daily diets and increased awareness regarding health benefits associated with these products.

Africa: Millets are a staple food and animal fodder in several of its countries. This drought tolerance and poor soil adaptability combine to make the crop a staple of food security in the region.

North America and Europe– In these regions, the demand for gluten-free and health-promoting foods is increasing day by day, which is increasing millet imports and developing products from millet.

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Competitor Analysis

Most of the key players in the millet market are concentrates on expanding the product portfolio and reach of the product and technology. This includes some big name companies such as:

Nestle S.A. One of the leading nutrition and health company in the world, has supplemented millet in their product for health cautious consumer.

GSK PLC (Horlicks): Offers millet-based health food drinks to cater to the growing demand for health food drinks.

Briess Malt and Ingredients: Focused on all-natural grain products, their millet ingredients are used by the food and beverage industry.

Imperial Malts Ltd: One of the largest malt players in the country, Imperial Malts has diversified into millet processing to meet the growing demand.

Abbott — which has included millet in some of its products — is a global health care company that maintains nutrition products for balanced diets.

These companies are trying to innovate and come out with various new products based on millet and they are also trying to grab a decent portion of the health conscious consumer segment by pouring a lot of money in R&D towards this end.

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Conclusion

Millet is expected to see a major expansion in the Global market as consumers continue to recognize the health advantages of the crop and its ability to grow in challenging climatic conditions. With growing market interest in healthy, sustainable food, millets could have a crucial role in food systems worldwide, creating new opportunities for producers to processors to marketeers.

Explore More: Visit our website for Additional reports:

Millet Based Packaged Food Market https://www.maximizemarketresearch.com/market-report/millet-based-packaged-food-market/193879/ 

Millet Flour Market https://www.maximizemarketresearch.com/market-report/millet-flour-market/187340/ 

Gluten Free Product Market https://www.maximizemarketresearch.com/market-report/gluten-free-products-market/187675/ 

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