Millet Based Snacks Market Projected to Discern Stable Expansion During 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:

The millet based snacks market is expected to witness high growth owing to rising health consciousness among consumers and increasing cases of celiac disease. Consumers are shifting towards healthy snack options to meet their nutrition requirements. According to the Celiac Disease Foundation, around 1% of the global population suffers from celiac disease. Moreover, growing awareness about the nutritional benefits of millets is also driving the demand for millet-based snacks. Millets are a rich source of antioxidants, minerals and fibers. They help maintain blood sugar levels and lower cholesterol. The increasing product launches catering to health-conscious demographics will further aid the market growth over the forecast period.

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Major Driver: Growing Health Consciousness Among Consumers is Driving the Millet Based Snacks Market

Health consciousness has been on the rise among consumers especially with growing lifestyle diseases. Millet is a highly nutritious cereal with high fiber, proteins and minerals content. It helps in weight management, digestion and managing diabetes. Consumers are increasingly opting for healthier snacks made from millets as they are gluten-free and nutritious. Millet snacks like roasts, granola bars, multigrain cookies are gaining popularity due to their nutritional profile. Food companies are innovating with millet based snacks understanding the consumer demands for healthier options.

Major Opportunity: Growth of Organic and Natural Food Market Presents Opportunity

Organic and natural foods market has been witnessing double digit growth globally driven by health and sustainability motivations. Consumers are increasingly demanding organic, clean label and natural food products free from additives, preservatives and artificial ingredients. Millet being an organic crop by nature fits well in this consumer trend. There is immense scope for food brands to launch organic millet snacks made from ingredients that consumers can recognize and pronounce easily. This provides an opportunity to position millet snacks as a natural, organic niche offering to tap into the fast expanding organic and natural foods industry. Companies can leverage this trend to gain market share and premium pricing in this segment.

Major Market Trend: Innovation in Millet Based Snack Formats and Fusions is a Growing Trend

While staple millet roasted snacks dominate currently, food innovators are experimenting with novel forms and fusions to make millet snacks more exciting and drive wider trials. Some of the emerging trends include multigrain and flavors fusions in millet granola bars, cookies with exotic superfoods and herbs, pops and puffs in different flavors, baking snacks like pizza crusts and baskets with millets. Savory fusions like millet crackers, croutons and nachos are also throwing up. Innovation helps address the perception of millets being bland and introduces more versatile consumption occasions beyond transitioning from roasted to baked snacks. Such innovations align well to experience seeking young consumers and increasing snacks occasions.

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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)

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Report Highlights:

📈 Examination of navigation keyword market share at both country and regional levels

📈 Thorough analysis of the competitive landscape and emerging trends

📈 Detailed review of product advancements, technological developments, drivers, and limitations

📈 Strategic recommendations tailored for key business segments based on market insights

📈 Valuable guidance for newcomers venturing into the navigation keyword market

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Author Bio:

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

(LinkedIn: https://www.linkedin.com/in/alice-mutum-3b247b137 )

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