Millet Flour Market Forecasted to Expand from USD 5.1 Billion to USD 7.8 Billion by 2034

According to recent analysis, the global millet flour market will reach USD 5.1 billion by 2024. Sales are projected to grow steadily at a 5.3% CAGR during the forecast period, with the market size expected to hit USD 7.8 billion by 2034.

Demand for organic millet flour is predicted to grow at a higher CAGR of 6.0% between 2024 and 2034. This can be attributed to rising consumer demand for organic food products.

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Several factors are anticipated to drive the growth of the global millet flour industry during the next ten years. These include:

Rising awareness of the health benefits of millet flour
Increasing consumer preference for gluten-free food products
Growing prevalence of food allergies and intolerances
Favorable government support
Expanding usage of millet flours in baby food
Due to their outstanding nutritional profile, millet flours lead the way in the health food movement. These flours are valued for their nutritional value, flexibility, tenacity, and gluten-free nature.

Consumers worldwide are becoming aware of the health benefits of millet flour, including its high nutritional value and gluten-free nature. This will continue to fuel demand during the forecast period.

The gluten-free nature of millet flour is a key factor fueling their demand globally. Millet flours are becoming a safer option for consumers seeking gluten-free alternatives to barley, wheat, and rye flours.

The gluten-free profile of millet caters to consumers with special dietary needs. It also satisfies the needs of health-conscious consumers who perceive the gluten-free diet as inherently healthier.

Along with its gluten-free profile, millet flour's highly nutritional profile, such as the presence of vitamins, minerals, and dietary fiber, is also significantly contributing to high adaption. Thanks to their high protein content, millet flours are becoming ideal protein sources for the vegan and vegetarian population who want to add plant-based protein.

Key Takeaways from the Millet Flour Report:

The global millet flour market is estimated to be valued at US$ 7.8 billion in 2034.
Based on nature, the conventional segment is set to hold a dominant market share of 89.7% in 2024, while the organic segment will likely grow at a CAGR of 6.0%.
By application, the bakery & confectionery segment is expected to account for a market share of 39.8% in 2024.
Based on the distribution channel, the direct segment will likely hold a value share of 76.5% in 2024.
Revenue in the United States is expected to total US$ 1,621.2 million in 2034.
Japan is poised to register a CAGR of 6.4% from 2024 to 2034.

"Growing consumer preference for gluten-free food products and development of cutting-edge milling technologies are expected to foster growth of the millet flour market. Prospering with healthy potential and international appeal, those who plant the seeds of innovation and foster cooperative growth will reap the abundant rewards of success in this developing and enlightening sector." - Nandini Roy Choudhury, Client Partner at Future Market Insights

Who is Winning?

Bob's Red Mill Natural Foods, Arrowhead Mills, Azure Standard, Great River Organic Milling, Pristine Organics, OOO Farms, Authentic Foods, RiceBran Technologies, Bayer AG, Grain Millers, and ARDENT MILLS are key millet flour manufacturers and suppliers listed in the report.

Key players are continuously launching new products with attractive packaging to cater to rising consumer demand for healthy, gluten-free flour. They are also adopting strategies like mergers, acquisitions, distribution agreements, acquisitions, and facility expansions to gain a competitive advantage in the market. For instance:

In 2021, Ardent Mills completed the acquisition of all the assets of Firebird Artisan Mills brand. With this acquisition, all products of the Firebird Artisan Mills are fully integrated into Ardent Mills.

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Millet Flour Market Segmentation

By Nature:

Organic
Conventional

By Application:

Bakery and Confectionary
Sauces, Dressings, and Condiments
Snacks
Baby Food
Others

Distribution Channel:

Direct
Indirect
Hypermarkets/Supermarkets
Convenience Stores
Mom and Pop Stores
Discount Stores
Food & Drink Specialty Stores
Independent Small Groceries
Online Retail
Other Retail Formats

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa

Explore FMI's Related Ongoing Coverage on Food and Beverage Industry

Coconut Flour Industry: https://www.futuremarketinsights.com/reports/coconut-flour-market

Konjac Flour Market: https://www.futuremarketinsights.com/reports/konjac-flour-market

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This release was published on openPR.