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Millets Market Global Top Trends, Key Drivers, Share Analysis, Major Players, Segmentation And Forecast To 2033
Millets Market
The Business Research Company's Millets Global Market Report 2024 identifies growing number of obesity-related problems as the major driver for the Millets Market's growth in the forecast period. Obesity refers to a range of health issues that can arise from excessive body fat. Obesity-related disorders occur when the body cannot burn body fat through physical activity and exercise. Millets are high in critical vitamins and minerals, which can improve overall health and well-being, in addition to weight management and lowering obesity-related disorders.
The millets market size has grown strongly in recent years. It will grow from $10.99 billion in 2023 to $11.67 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to increasing nutritional awareness, increasing health and wellness trends, rise in sustainable agriculture, government initiatives.
The millets market size is expected to see strong growth in the next few years. It will grow to $14.39 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to global population growth, climate change resilience, urbanization and convenience, research and development. Major trends in the forecast period include consumer education, research and innovation, culinary diversity, gluten-free and allergen-friendly foods.
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Major competitors in the millets market are Cargill Inc., Nestle S.A., Archer Daniels Midland Company, Bayer Crop Science AG, E.I. DuPont De Nemours and Company, Glanbia Nutritionals Inc., Warburtons Ltd., Bobs Red Mill UK Ltd., Bay State Milling Company, Grain Millers Inc., Woodland Foods, Eden Foods Inc., Sresta Natural Bioproducts Pvt. Ltd., Ernst Conservation Seeds, Sydler India Pvt. Ltd., Brett-Young Seeds Limited, Minn-Dak Growers Ltd., Wise Seed Company Inc., Avena Foods Limited, Roundstone Native Seed Company, To Your Health Sprouted Flour Co., Dharani FaMCooP Ltd., Nature's Logic, Arrowhead Mills Inc., Navan Foods LLC, Mayoora Foods LLC.
A key trend in the Millets Market includes Strategic Investments. Companies operating in the millet market are investing and identifying opportunities within the food industry to create or promote products to sustain their position in the market. Investment in millets is required to support market growth, address climate and food security problems and encourage millets' health benefits. For instance, in February 2022, Wholsum Foods Pvt. Ltd., an India-based food startup, raised $7 million to expand millet-based offerings and the investment will help Wholsum Foods achieve its mission of making millets more accessible and appealing to consumers. Furthermore, in March 2023, Ivar Agro, an India-based food startup, invested 27.5 million (200 crores) to set up a millet-based food products project in Uttarakhand. The project is expected to be completed by 2024 and will have a monthly production capacity of 1,000 metric tons of millet-based products, including biscuits, cookies and flour.
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The Millets Market is segmented -
By Product Type: Pearl Millet, Foxtail Millet, Sorghum, Finger Millet, Other Products
By Distribution Channel: Trade Associations, Supermarkets, Grocery Stores, Online Platforms, Other Distribution Channels
By End Use: Ready To Eat Food, Direct Consumption, Bakery Products, Alcoholic Beverages, Non-Alcoholic Beverages, Breakfast Foods, Fodder
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Millets Market.
The Business Research Company's "Global Millets Market Report 2024" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Millets Market Include:
1. Executive Summary
2. Millets Market Characteristics
3. Millets Market Trends And Strategies
4. Millets Market - Macro Economic Scenario
5. Global Millets Market Size and Growth
……
32. Global Millets Market Competitive Benchmarking
33. Global Millets Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Millets Market
35. Millets Market Future Outlook and Potential Analysis
36. Appendix
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