Millet Market to Reach USD 15.82 Billion by 2030, Fueled by 4.82% CAGR

The Millet Market size was valued at USD 11.38 Billion in 2023 and the total Millet Market revenue is expected to grow at 4.82 % from 2024 to 2030, reaching nearly USD 15.82 Billion.

Millet Market Overview:

Millets are small-seeded grains cultivated primarily in Asia and Africa, valued for their resilience in arid conditions and high nutritional content. They serve as a vital food source and animal fodder in several countries, offering advantages over traditional cereals like wheat and rice. The global millet market was valued at USD 11.38 billion in 2023 and is projected to reach nearly USD 15.82 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.82%.

Download a Free Sample Report Today: https://www.maximizemarketresearch.com/request-sample/105674/

Millet Market Dynamics:

The market's growth is propelled by several factors:

Health Benefits: Millets are gluten-free, non-allergenic, easy to digest, and rich in proteins, antioxidants, and dietary fiber. They aid in weight management, improve hemoglobin levels, and help combat anemia, diabetes, and cardiovascular diseases.

Sustainable Agriculture: Millets require minimal water and are less susceptible to pests, making them ideal for sustainable farming practices. Their cultivation supports environmental conservation and offers economic benefits to farmers.

Government Initiatives: The United Nations General Assembly declared 2023 as the International Year of Millets, encouraging global production and consumption. Governments worldwide are promoting millets through subsidies, research, and development programs.

Millet Market Outlook and Future Trends

The future of the millet market appears promising, with trends indicating:

Product Innovation: Food companies are developing a variety of millet-based products, including ready-to-eat meals, snacks, and beverages, catering to health-conscious consumers.

Market Expansion: Emerging economies are witnessing increased millet cultivation and consumption, driven by traditional dietary habits and rising health awareness.

Sustainability Focus: As climate change impacts agriculture, millets' resilience positions them as a crucial crop for ensuring food security and promoting sustainable farming practices.

Key Recent Developments:

Vietnam: The Vietnamese economy has seen a surge in mergers and acquisitions, with 1,120 inbound deals totaling nearly USD 15 billion, reflecting foreign companies' interest in accessing the Vietnamese market.
Wikipedia

Thailand: Thai Union Group expanded its portfolio by acquiring German seafood company Rügen Fisch AG in 2016 and investing USD 575 million in Red Lobster, the world's largest seafood restaurant company, in the same year.
Wikipedia

Japan: In May 2023, Ajinomoto signed a letter of intent for a strategic alliance with Solar Foods, a company that developed Solein, a microbial protein, and obtained a marketing license in Singapore. In November 2023, Ajinomoto acquired US-based Forge Biologics for USD 620 million.
Wikipedia

South Korea: The South Korean food industry is witnessing increased incorporation of millets into various products, aligning with the global trend of health-conscious consumption.

Singapore: Ajinomoto's strategic alliance with Solar Foods in May 2023 highlights Singapore's role in advancing sustainable food technologies and alternative proteins.

United States: In April 2024, General Mills launched a new line of millet-based cereals under its Nature Valley brand, targeting the growing market for nutritious breakfast options.

Europe: The European millet market is experiencing growth driven by health consciousness and a rising number of vegans. Countries like Germany, France, and the UK are leading this trend, with companies focusing on developing innovative millet-based food products.

Millet Market Segmentation

by Product Type

finger millet
pearl millet
Kodo millet
foxtail millet
proso millet
barnyard millet
little millet

by Application

Bread goods,
Alcoholic and non-alcoholic beverages
Breakfast foods
Infant food

by Distribution Channel

super and hypermarkets
grocers
online retailers
Others

To Gain More Insights into the Market Analysis, Browse Summary of the Research Report: https://www.maximizemarketresearch.com/request-sample/105674/

Some of the current players in the Millet Market are:

1. Cargill (US)
2. Archer Daniels Midland Company (US)
3. Seedway, LLC. (US)
4. Ernst Conservation Seeds (US)
5. Eastern Colorado Seeds, LLC (US)
6. Roundstone Native Seed Company (US)
7. Allied Seed, LLC (US)
8. Janadhanya Farmers Producer Company Limited (India)
9. Sresta Natural Bioproducts Pvt Ltd (India)
10. Just Organik (India)
11. Earthon Products Pvt Ltd (India)
12. Shimla Hills Offerings Pvt. Ltd. (India)
13. Pristine Organics Pvt Ltd. (India)
14. Sahaja Samrudha Organic Producer Company Ltd (SSOPCL) (India)
15. Viruthai Millets Farmer Producer Company Ltd. (India)
16. Crystal Crop Protection Pvt. Ltd. (India)
17. DUGAD Agro Foods (India)
18. Croda International Plc (UK)
19. Nestlé S.A. (Switzerland)
20. NH Foods Ltd (Japan)
21. Bayer Crop Science AG (Germany)
22. BASF SE (Germany)
23. Mirfak Pty Ltd, Nuts in Bulk (Australia)
24. RR Agroflorestal LTDA (Brazil)
25. Kerry Group plc (Ireland)
26. BrettYoung (canada)

For additional reports on related topics, visit our website

♦ Fast Food Market https://www.maximizemarketresearch.com/market-report/global-fast-food-market/28718/

♦ Chocolate Market https://www.maximizemarketresearch.com/market-report/global-chocolate-market/13157/

Contact Maximize Market Research:

MAXIMIZE MARKET RESEARCH PVT. LTD.
⮝ 3rd Floor, Navale IT park Phase 2,
Pune Banglore Highway, Narhe
Pune, Maharashtra 411041, India.
✆ +91 9607365656
🖂 sales@maximizemarketresearch.com

About Maximize Market Research:

Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.

This release was published on openPR.