Millet Based Snacks Market expected to Witness a Sustainable Growth over 2024 - 2031 | Kiru Millet, Orgtree , Mood foods, Shri Foods India

Market Overview:

The millet based snacks market is estimated to be valued at USD 2.64 Bn in 2024 and is expected to reach USD 3.84 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031.

Market Dynamics:

Growing health awareness among consumers regarding benefits of millet based snacks is driving market growth. Millet is a highly nutritious cereal crop that contains higher levels of various vitamins and minerals compared to other grains. It is a rich source of protein, fiber, antioxidants, magnesium and phosphorus. Moreover, rising cases of celiac disease have augmented the demand for gluten-free snacks made from millets. Additionally, increasing obese and diabetic population is also prompting consumers towards healthy snacking options. These factors are expected to propel the millet based snacks market growth over the forecast period.

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Millet Based Snacks Market Restrain: High Price Point Compared to Standard Snacks

Although millets provide various health benefits, they tend to be more expensive than standard rice, wheat or corn. This directly increases the production cost of millet based snacks. Due to relatively higher prices compared to regular snacks, some consumers perceive millet snacks as a niche product. The affordability factor poses a major challenge for mass market acceptance of millet snacks. The industry players need to optimize the cost of raw materials and production processes to make millet snacks more accessible to price sensitive consumers.

Millet Based Snacks Market Opportunity: Scope for Product Innovation

There exists a vast opportunity for food innovators to leverage the nutritional profile of millets and diversify the application of millets in snacks. While the market currently has basic millet cookies, chips and bars, new formats like ready-to-eat cereals, pasta, noodles, granola etc. could be explored. Different variations in flavors, textures and formats can capture consumer interest beyond the health-conscious segment. Companies may also consider collaborating with leading food brands and quick service restaurants to widen the availability and increase trial among casual users. Product development backed by aggressive marketing campaigns focusing on health and wellness can unlock huge market potential.

Millet Based Snacks Market Trends: Rising Focus on Clean Label and Sustainable Production

The concept of clean label and sustainability have become integral to mainstream food production and sourcing in recent years. Food companies are ensuring transparency in ingredients and sourcing while minimizing environmental impact. Millet farming has relatively lower carbon footprint compared to other grains. Besides, millets are naturally pest resistant requiring minimal or no chemical fertilizers and pesticides. Brands are highlighting these sustainability attributes of millets while promoting snacks. The focus on clean label and sustainable sourcing aligns well with the nutritional benefits of millet and appeals to conscious buyers taking sustainable lifestyle decisions. This emerging trend can bolster future growth opportunities for millet snacks market.

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Top Companies Featured in This Report:

★ Kiru Millet
★ Orgtree
★ Mood foods
★ Shri Foods India
★ Millet Amma
★ Kaulige Foods
★ e-Millet
★ Tru Millet
★ Ratham Exports
★ Arvees India
★ NaNee's
★ Nutraahaar
★ Shanti Food Chem Private Limited

Market Segmentation:

By Product Type:

★ By Type: Namkeen, Noodles, Chips, Bakery Snacks, and Others
★ By Distribution Channels: Online and Offline (Sub channel, Hypermarket and Supermarket, Specialty Stores, Convenience Stores, Departmental Stores, and Others)

Key Regions/Countries Classified as Follows:

» 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)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

The report offers insights on the following aspects:

Chapter 1: Study Coverage

Chapter 2: Executive Summary

Chapter 3: Analysis of Millet Based Snacks Market Market Competition Landscape by Players

Chapter 4: Assessment of Millet Based Snacks Market Market Size by Type and Application

Chapter 5: Global and Regional Analysis

Chapter 6: Company Profiles, recent developments, and investments

Chapter 7: Analysis of Market Opportunities, Challenges, Risks, and Influencing Factors

Chapter 8: Evaluation of Value Chain and Sales Channels, including breakthrough product developments

Chapter 9: Research Findings and Conclusion

Chapter 10: Methodology/Research Approach

The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.

In summary, whether you're engaged in manufacturing, distribution, or investment within the Millet Based Snacks Market sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.

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Author Bio:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)

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