Millet Market Size, Share & Growth | Industry Analysis 2028

Market Overview:
Global Millet Market was valued at USD 10.47 billion in 2021 and is expected to reach USD 14.44 billion by the year 2028, at a CAGR of 4.7%.

Millet is a widely distributed small grass seed. They are treated as grains for human consumption. Generally, most of the produced millet is consumed, the remaining percentage of the millet being used to make beer and ready-to-eat foods. Breakfast foods such as cornflakes are made from millet. The cultivated millet is mainly pearl millet and it is widely distributed in India and Africa. Millet is rich in dietary fiber, vitamins, minerals, and protein, and there are various types of millet, such as pearl millet, foxtail millet, sorghum, and crab millet.

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Market Dynamics:
Driver:
The growing urban population with increased awareness about the benefits of health associated with millet consumption. Different kinds of diseases have been linked to changes in lifestyle and eating habits, including diabetes, obesity, myocardial infarction, coronary heart disease, and arrhythmia. Millet contains are high in minerals and proteins including iron and calcium, which can help in the prevention of different disorders. Hence the demand for millet-based products and their production is dramatically increased which propels the growth of the millet market.

Opportunities:
Millet promotion is driven by governments in many regions. Governments have provided different types of support, including technology, finance, and infrastructure to different stakeholders. The significant millets minimum support prices (MSPs) have already been announced in most states, creating huge opportunities for millet production. Processing units are located close to the production site where primary processing and quality control are performed first, then secondary processing quality control, packaging, and branding are largely performed at the central level. This has led to lower factory prices for millet products and created agricultural opportunities for millet production.

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Market Segmentation
By Type, the pearl millet segment is expected to capture the maximum millet market share over the forecast period. Almost half of the world's millet is produced with this product. In the Asia Pacific and Africa regions, the aforementioned product is regarded as the most important millet species in terms of harvested areas and contributions to food security. Millet production in India is the world's largest in terms of volume. Furthermore, wheat, along with rice and corn, is the most widely consumed cereal in the world, yet it contains gluten, a protein that causes gastrointestinal issues such as bloating, flatulence, and irritable bowel syndrome. Pearl millet, on the other hand, is gluten-free and is most usually used as a gluten-free replacement.
• Finger Millet
• Pearl Millet
• Proso Millet
• Foxtail Millet
• Others

By Application, the bakery product segment is anticipated to dominate the millet market over the forecast period. Bakery products, such as packaged cookies, are becoming more popular as they become more readily available in supermarkets, hypermarkets, and e-commerce sites, particularly in Asia-Pacific countries. Furthermore, millet is high in both soluble and insoluble dietary fiber. Millet's insoluble fiber is a "prebiotic," which means it helps your digestive system's healthy bacteria thrive. This sort of fiber also helps keep you regular and lowers your risk of colon cancer by adding bulk to your stools.
• Flour
• Bakery Products
• Infant Food
• Steam Cooked Products
• Porridges
• Others

In the millets business, distribution channels are extremely important since they provide for greater exposure to the general market. Agriculture trade associations have traditionally included middlemen. Processors frequently collaborate with farmers to obtain crops directly from them. FPOs (farmer producer organizations) are now playing an increasingly important role in product procurement and distribution. Consumers buy the product and similar processed goods such as bakery products, cereals, and other items from traditional grocery stores, which are part of the open market.
• Supermarket
• Trade Associations
• Online Stores
• Traditional Grocery Stores

Regional Analysis for the Millet Market:
The Asia Pacific and Africa regions are expected to hold the maximum millet market during the forecast period. India is the world's leading millet producer. Global millet production was anticipated at 28.4 million metric tons in 2019, according to the FAO. India is the world's largest producer, accounting for 41.0 percent of the global market. Millet's prominence as a food staple has declined in India over the previous two decades due to a variety of causes, including increased earnings, urbanization, and government policy. Currently, more than 50.0 percent of millet output is going to other applications rather than being consumed just as a staple. Furthermore, during the projection period, Africa would dominate worldwide millet consumption. African countries, including Niger, Mali, Nigeria, Burkina Faso, and Sudan, consume more than 40.0 percent of the world's millet. Millets are widely consumed in poor countries such as India and Africa, where food and nutrition security are key concerns. The arid climatic zones of countries in a sub-region of Africa are ideal for millet cultivation.

North America is expected to hold its position of being the largest market for millets, closely followed by Asia-Pacific excluding Japan (APEJ) based on the revenues. Revenues from sales of millets in North America and APEJ will capture more than one-third share of the overall market over the projected period.
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

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Players Covered in Millet market are:
• Archer Daniels Midland Company
• Cargill Inc.
• Nestle S.A.
• Wise Seed Company Inc.
• Roundstone Native Seed Company
• E.I. DuPont De Nemours and Company
• Bayer Crop Science AG
• Ernst Conservation Seeds
• Brett-Young Seeds Limited
• Treta Agro (P) Ltd
• Janadhanya Farmers Producer Company Limited
• Dharani FaM CooP Ltd
• Mayoora Foods
• Navan Foods LLC
• Sydler India Pvt. Ltd.
• Nature's Logic.
• Tata Consumer Products Limited (TCPL) and other major players.

Key Industry Developments in the Millet Market:
In October 2021, Crystal Crop Protection, a leading crop solution company focused on research and development, has signed a definitive agreement with Bayer to purchase cotton, mustard, pearl millet, and grain sorghum hybrids in India. Both companies will collaborate to complete the deal by December 2021. Crystal Crop Protection's acquisition represents a very minor part of Bayer's Indian and global business portfolio.

In February 2021, Tata Consumer Products Limited (TCPL) stated that it has inked definitive agreements to buy Kottaram Agro Foods (KAF), the owner of the "Soulful" brand, outright. This move is in line with TCPL's strategic goal of expanding its product portfolio and engaging in a variety of consumer opportunities. The 'Soulfull' brand was launched in 2013 by Prashant Parameswaran, Rasika Prashant, Dr. KK Narayanan, and Amith Sebastian, who founded KAF. With a range of millet products for kids and adults, the brand competes in the health and wellness food segment. It is one of the fastest-growing brands in the Indian packaged food market for "better for you."

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Table Of Contents
Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment
 3.1 By Type
 3.2 By Application
 3.3 By Distribution Channels

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing
Continue.
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