Press release
Millet Based Packaged Food Market Forecast 2022-2032 - Market Size, Drivers, Trends, And Competitors
Millet Based Packaged Food Market
๐๐๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐ซ๐๐ฉ๐จ๐ซ๐ญ @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=84859
Key Players and Market Developments
The India millet based packaged food market is a fragmented, with the presence of large numbers of small scale manufacturers. Large players hold minimum share of the market. Most of the millet based processed food companies are focusing on comprehensive research and development (R&D) activities. They are striving to expand their product portfolios and create innovative millet based packaged food. Bliss Tree India, Coastal Foods, Early Foods, FirmRoots Private Limited, ITC Limited, Marico, Moon Foods, Naturally Yours, Num Num, OGMO Foods, Priya Foods, Quaker Oats Company, Slurrp Farms, Sri Lakshmi Foods, Swiss Bake Ingredients Pvt. Ltd., Tata Consumer Soulfull Pvt. Ltd., Tropolite, Truefarm Foods, Urban Millets Pvt. Ltd., and Urban Monk Private Limited are some of the prominent companies operating in the millet based packaged food market in India.
Overview of India's Millet-Based Packaged Food Market:
Millet-based packaged foods, rich in protein, antioxidants, and other essential nutrients, have emerged as a boon for health-conscious consumers in India. With a market value of US$ 37.7 Mn in 2022, this segment is projected to grow at an impressive CAGR of 9.2% until 2032, reaching US$ 91.1 Mn by the end of the forecast period.
Driving Factors for Market Growth:
Health Awareness and Nutritional Properties: The increasing awareness of the nutritional properties of millets has propelled the demand for millet-based packaged foods. Rich in protein and antioxidants, millets offer a healthy alternative to conventional grains, making them popular among consumers seeking wholesome dietary options.
Government Initiatives and Promotional Activities: Government-led initiatives and promotional campaigns have played a crucial role in promoting millets and encouraging their inclusion in packaged foods. Collaborations with farmers and investments in distribution channels have facilitated the availability of high-quality raw materials, further fueling market growth.
COVID-19 Pandemic Boost: The COVID-19 pandemic has heightened consumer awareness about health and immunity, leading to an increased demand for millet-based packaged foods. Recognized as a super grain, millets have gained traction as immunity-boosting foods, driving their consumption during the pandemic.
Diverse Product Offerings: Manufacturers are diversifying their product offerings to cater to evolving consumer preferences. Products like dosa & idli premixes, popular in South India, have witnessed significant demand due to their convenience, gluten-free nature, and instant preparation, reflecting changing lifestyle trends.
๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ | ๐๐ฆ๐ฆ๐๐๐ข๐๐ญ๐ ๐๐๐ฅ๐ข๐ฏ๐๐ซ๐ฒ ๐๐ฏ๐๐ข๐ฅ๐๐๐ฅ๐ ๐๐ญ - https://www.transparencymarketresearch.com/checkout.php?rep_id=84859<ype=S
Regional Outlook:
South India: Holding the largest value share of 44.0% in 2022, South India leads the consumption of millet-based packaged foods. Factors such as changes in lifestyle, health consciousness, and the presence of established manufacturing units contribute to the region's dominance in the market.
West India: With a robust CAGR of 9.6%, West India emerges as a significant growth driver in the millet-based packaged food market. The rise in the service class population, changing lifestyles, and the proliferation of sales channels contribute to the region's expanding market share.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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