Millets Market
Millets Market Forecasts to 2030 - Global Analysis By Products Type (Pearl Millet, Foxtail Millet, Sorghum Millet, Finger Millet, Proso Millet, Barnyard Millet and Other Products Types), Distribution Channel, End User and By Geography
According to Stratistics MRC, the Global Millets Market is accounted for $10.8 billion in 2023 and is expected to reach $17.0 billion by 2030 growing at a CAGR of 6.6% during the forecast period. Millets refer to a group of small-seeded grasses that are cultivated for human consumption. They are highly nutritious grains and include various types such as sorghum, pearl millet, finger millet, foxtail millet, proso millet, and others. Millets are known for their resilience in diverse environmental conditions, requiring less water compared to some other grains. They are rich in nutrients like protein, fiber, vitamins, and minerals, making them a valuable part of diets worldwide. These grains are used in a variety of culinary applications, including porridges, bread, cereals, and beverages.
According to Food and Agriculture Organization (FAO), global millet production was estimated at 28.33 million metric tons in 2019, which increased to 30.08 million metric tons in 2021. India is the largest global producer, with a 43.0% global market share in 2021 with Sorghum(jowar), Pearl Millet (bajra), Finger millet (ragi), and other minor millets are grown in the country.
Market Dynamics:
Driver:
Rising demand for gluten-free products
The market has witnessed a surge in demand for gluten-free products, driven by increasing health-conscious consumer preferences. As more individuals opt for gluten-free diets due to gluten intolerance or lifestyle choices, the demand for millet-based gluten-free alternatives has escalated. Millets, being naturally gluten-free and nutritionally rich, have become a favored choice, prompting the market to expand its offerings to cater to this growing segment of health-conscious consumers.
Restraint:
Challenges in processing and distribution
Processing and distributing millets face challenges due to limited infrastructure, outdated technology, and inadequate storage facilities. Lack of standardized processing methods and transportation networks also hinder efficient distribution. Variable demand and market access further complicate the supply chain. Additionally, awareness about the nutritional benefits of millets needs improvement to stimulate demand. These challenges collectively impact the accessibility, quality, and widespread availability of millets in the market.
Opportunity:
Health and nutrition awareness
Millets are gaining traction due to their nutritional punch, sustainability, and versatility. With rising health consciousness, there's a growing awareness of millets benefits – they are gluten-free, rich in nutrients, and have a lower glycemic index. Their resurgence in the market reflects a shift towards healthier eating habits, offering a range of options for those seeking balanced diets. This trend aligns with the increased focus on sustainable and diverse food choices, driving the millets market forward.
Threat:
Price volatility and economic factors
Price volatility in the millets market is influenced by several economic factors. Fluctuations in demand due to changing consumer preferences, limited supply owing to weather conditions affecting harvests, and agricultural policies impacting production and distribution contribute to this volatility. Additionally, global market dynamics, trade regulations, and currency fluctuations can also affect millet prices, creating uncertainty in the market.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the millets market worldwide. Initially, supply chain disruptions led to shortages, affecting production and distribution. However, as awareness of their nutritional value grew, demand surged, creating opportunities for millet producers. Increased consumer interest in healthier, gluten-free options boosted millet sales. Furthermore, as people sought resilient crops adaptable to climate change, millets gained attention for their sustainability. Despite initial challenges, the pandemic ultimately catalyzed a positive shift, elevating the market prospects for millets due to their nutritional benefits and adaptability.
The pearl millet segment is expected to be the largest during the forecast period
The pearl millet segment is expected to be the largest during the forecast period. Its versatility in various cuisines and nutritional value, rich in protein, fiber, and micronutrients, fuels its demand. With adaptability to harsh climates, it serves as a staple for regions facing arid conditions. Increasing recognition for its health benefits, including diabetes management and improved digestion, has surged its popularity in the health-conscious market.
The bakery segment is expected to have the highest CAGR during the forecast period
The bakery segment is expected to have the highest CAGR during the forecast period. Embracing traditional recipes with a modern twist, it tantalizes taste buds with its diverse range of freshly baked goods. From flaky croissants to heavenly cakes, each creation is a testament to skill and passion. The aroma of warm, golden loaves fills the air, inviting patrons to savour the finest baked delights. Millets Market Bakery: Where every bite tells a story of craftsmanship and flavor.
Region with largest share:
North America is projected to hold the largest market share during the forecast period due to increasing health-conscious consumer trends. Millets, known for their nutritional value and gluten-free nature, have gained traction among consumers seeking diverse and sustainable food options. Despite challenges in widespread adoption, the market has shown promise with rising awareness of their health benefits, leading to their incorporation in various food products and an expanding presence in health food stores and online platforms.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period due to rising health consciousness and the popularity of gluten-free diets. Millets, being nutrient-rich and drought-resistant crops, have gained traction among consumers and farmers. Increased awareness of their benefits, coupled with government initiatives promoting their cultivation, has fueled market expansion. With a diverse range of millet-based products and their affordability, the region has become a hub for millet consumption, catering to health-conscious individuals seeking sustainable food options.
Key players in the market
Some of the key players in Millets market include Cargill , Archer Daniels Midland Company, Britannia, BrettYoung, Kerry Group plc, BASF SE, Nestle S.A., Croda International Plc, Crystal Crop Protection Pvt. Ltd., Bayer Crop Science AG, Allied Seed, LLC, Ernst Conservation Seeds, Mayoora Foods, Navan Foods, LLC, Sydler India Pvt. Ltd., Nature’s Logic. and Sresta Natural Bioproducts Pvt. Ltd.
Key Developments:
In August 2023, Nestle India intensified its commitment to ready-to-make millet-based offerings. The company is well-known for its products such as Ceregrow grain selection featuring Ragi, Koko Krunch breakfast cereals incorporating millet and Jowar, and Milo Cocoa Malt enriched with Bajra.
In April 2023, Britannia, a renowned Indian food company, launched millet bread, which contains zero added maida. Packed with ragi, jowar, bajra, and oats, the bread includes fiber and minerals that provide consumers a convenient way to include millet-based options in their meals.
Products Types Covered:
• Pearl Millet
• Foxtail Millet
• Sorghum Millet
• Finger Millet
• Proso Millet
• Barnyard Millet
• Other Products Types
Distribution Channels Covered:
• Trade Associations
• Supermarkets
• Grocery Stores
• Online Platforms
End Users Covered:
• Ready to eat food
• Bakery
• Beverages
• Breakfast
• Fodder
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Millets Market, By Product Type
5.1 Introduction
5.2 Pearl Millet
5.3 Foxtail Millet
5.4 Sorghum Millet
5.5 Finger Millet
5.6 Proso Millet
5.8 Barnyard Millet
5.9 Other Products Types
6 Global Millets Market, By Distribution Channel
6.1 Introduction
6.2 Trade Associations
6.3 Supermarkets
6.4 Grocery Stores
6.5 Online Platforms
7 Global Millets Market, By End User
7.1 Introduction
7.2 Ready to eat food
7.3 Bakery
7.4 Beverages
7.5 Breakfast
7.6 Fodder
7.7 Other End Users
8 Global Millets Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Cargill
10.2 Archer Daniels Midland Company
10.3 Britannia
10.4 BrettYoung
10.5 Kerry Group plc
10.6 BASF SE
10.7 Nestle S.A.
10.8 Croda International Plc
10.9 Crystal Crop Protection Pvt. Ltd.
10.10 Bayer Crop Science AG
10.11 Allied Seed, LLC
10.12 Ernst Conservation Seeds
10.13 Mayoora Foods
10.14 Navan Foods, LLC
10.15 Sydler India Pvt. Ltd.
10.16 Nature’s Logic.
10.17 Sresta Natural Bioproducts Pvt. Ltd.
List of Tables
1 Global Millets Market Outlook, By Region (2021-2030) ($MN)
2 Global Millets Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Millets Market Outlook, By Pearl Millet (2021-2030) ($MN)
4 Global Millets Market Outlook, By Foxtail Millet (2021-2030) ($MN)
5 Global Millets Market Outlook, By Sorghum Millet (2021-2030) ($MN)
6 Global Millets Market Outlook, By Finger Millet (2021-2030) ($MN)
7 Global Millets Market Outlook, By Proso Millet (2021-2030) ($MN)
8 Global Millets Market Outlook, By Barnyard Millet (2021-2030) ($MN)
9 Global Millets Market Outlook, By Other Products Types (2021-2030) ($MN)
10 Global Millets Market Outlook, By Distribution Channel (2021-2030) ($MN)
11 Global Millets Market Outlook, By Trade Associations (2021-2030) ($MN)
12 Global Millets Market Outlook, By Supermarkets (2021-2030) ($MN)
13 Global Millets Market Outlook, By Grocery Stores (2021-2030) ($MN)
14 Global Millets Market Outlook, By Online Platforms (2021-2030) ($MN)
15 Global Millets Market Outlook, By End User (2021-2030) ($MN)
16 Global Millets Market Outlook, By Ready to eat food (2021-2030) ($MN)
17 Global Millets Market Outlook, By Bakery (2021-2030) ($MN)
18 Global Millets Market Outlook, By Beverages (2021-2030) ($MN)
19 Global Millets Market Outlook, By Breakfast (2021-2030) ($MN)
20 Global Millets Market Outlook, By Fodder (2021-2030) ($MN)
21 Global Millets Market Outlook, By Other End Users (2021-2030) ($MN)
22 North America Millets Market Outlook, By Country (2021-2030) ($MN)
23 North America Millets Market Outlook, By Product Type (2021-2030) ($MN)
24 North America Millets Market Outlook, By Pearl Millet (2021-2030) ($MN)
25 North America Millets Market Outlook, By Foxtail Millet (2021-2030) ($MN)
26 North America Millets Market Outlook, By Sorghum Millet (2021-2030) ($MN)
27 North America Millets Market Outlook, By Finger Millet (2021-2030) ($MN)
28 North America Millets Market Outlook, By Proso Millet (2021-2030) ($MN)
29 North America Millets Market Outlook, By Barnyard Millet (2021-2030) ($MN)
30 North America Millets Market Outlook, By Other Products Types (2021-2030) ($MN)
31 North America Millets Market Outlook, By Distribution Channel (2021-2030) ($MN)
32 North America Millets Market Outlook, By Trade Associations (2021-2030) ($MN)
33 North America Millets Market Outlook, By Supermarkets (2021-2030) ($MN)
34 North America Millets Market Outlook, By Grocery Stores (2021-2030) ($MN)
35 North America Millets Market Outlook, By Online Platforms (2021-2030) ($MN)
36 North America Millets Market Outlook, By End User (2021-2030) ($MN)
37 North America Millets Market Outlook, By Ready to eat food (2021-2030) ($MN)
38 North America Millets Market Outlook, By Bakery (2021-2030) ($MN)
39 North America Millets Market Outlook, By Beverages (2021-2030) ($MN)
40 North America Millets Market Outlook, By Breakfast (2021-2030) ($MN)
41 North America Millets Market Outlook, By Fodder (2021-2030) ($MN)
42 North America Millets Market Outlook, By Other End Users (2021-2030) ($MN)
43 Europe Millets Market Outlook, By Country (2021-2030) ($MN)
44 Europe Millets Market Outlook, By Product Type (2021-2030) ($MN)
45 Europe Millets Market Outlook, By Pearl Millet (2021-2030) ($MN)
46 Europe Millets Market Outlook, By Foxtail Millet (2021-2030) ($MN)
47 Europe Millets Market Outlook, By Sorghum Millet (2021-2030) ($MN)
48 Europe Millets Market Outlook, By Finger Millet (2021-2030) ($MN)
49 Europe Millets Market Outlook, By Proso Millet (2021-2030) ($MN)
50 Europe Millets Market Outlook, By Barnyard Millet (2021-2030) ($MN)
51 Europe Millets Market Outlook, By Other Products Types (2021-2030) ($MN)
52 Europe Millets Market Outlook, By Distribution Channel (2021-2030) ($MN)
53 Europe Millets Market Outlook, By Trade Associations (2021-2030) ($MN)
54 Europe Millets Market Outlook, By Supermarkets (2021-2030) ($MN)
55 Europe Millets Market Outlook, By Grocery Stores (2021-2030) ($MN)
56 Europe Millets Market Outlook, By Online Platforms (2021-2030) ($MN)
57 Europe Millets Market Outlook, By End User (2021-2030) ($MN)
58 Europe Millets Market Outlook, By Ready to eat food (2021-2030) ($MN)
59 Europe Millets Market Outlook, By Bakery (2021-2030) ($MN)
60 Europe Millets Market Outlook, By Beverages (2021-2030) ($MN)
61 Europe Millets Market Outlook, By Breakfast (2021-2030) ($MN)
62 Europe Millets Market Outlook, By Fodder (2021-2030) ($MN)
63 Europe Millets Market Outlook, By Other End Users (2021-2030) ($MN)
64 Asia Pacific Millets Market Outlook, By Country (2021-2030) ($MN)
65 Asia Pacific Millets Market Outlook, By Product Type (2021-2030) ($MN)
66 Asia Pacific Millets Market Outlook, By Pearl Millet (2021-2030) ($MN)
67 Asia Pacific Millets Market Outlook, By Foxtail Millet (2021-2030) ($MN)
68 Asia Pacific Millets Market Outlook, By Sorghum Millet (2021-2030) ($MN)
69 Asia Pacific Millets Market Outlook, By Finger Millet (2021-2030) ($MN)
70 Asia Pacific Millets Market Outlook, By Proso Millet (2021-2030) ($MN)
71 Asia Pacific Millets Market Outlook, By Barnyard Millet (2021-2030) ($MN)
72 Asia Pacific Millets Market Outlook, By Other Products Types (2021-2030) ($MN)
73 Asia Pacific Millets Market Outlook, By Distribution Channel (2021-2030) ($MN)
74 Asia Pacific Millets Market Outlook, By Trade Associations (2021-2030) ($MN)
75 Asia Pacific Millets Market Outlook, By Supermarkets (2021-2030) ($MN)
76 Asia Pacific Millets Market Outlook, By Grocery Stores (2021-2030) ($MN)
77 Asia Pacific Millets Market Outlook, By Online Platforms (2021-2030) ($MN)
78 Asia Pacific Millets Market Outlook, By End User (2021-2030) ($MN)
79 Asia Pacific Millets Market Outlook, By Ready to eat food (2021-2030) ($MN)
80 Asia Pacific Millets Market Outlook, By Bakery (2021-2030) ($MN)
81 Asia Pacific Millets Market Outlook, By Beverages (2021-2030) ($MN)
82 Asia Pacific Millets Market Outlook, By Breakfast (2021-2030) ($MN)
83 Asia Pacific Millets Market Outlook, By Fodder (2021-2030) ($MN)
84 Asia Pacific Millets Market Outlook, By Other End Users (2021-2030) ($MN)
85 South America Millets Market Outlook, By Country (2021-2030) ($MN)
86 South America Millets Market Outlook, By Product Type (2021-2030) ($MN)
87 South America Millets Market Outlook, By Pearl Millet (2021-2030) ($MN)
88 South America Millets Market Outlook, By Foxtail Millet (2021-2030) ($MN)
89 South America Millets Market Outlook, By Sorghum Millet (2021-2030) ($MN)
90 South America Millets Market Outlook, By Finger Millet (2021-2030) ($MN)
91 South America Millets Market Outlook, By Proso Millet (2021-2030) ($MN)
92 South America Millets Market Outlook, By Barnyard Millet (2021-2030) ($MN)
93 South America Millets Market Outlook, By Other Products Types (2021-2030) ($MN)
94 South America Millets Market Outlook, By Distribution Channel (2021-2030) ($MN)
95 South America Millets Market Outlook, By Trade Associations (2021-2030) ($MN)
96 South America Millets Market Outlook, By Supermarkets (2021-2030) ($MN)
97 South America Millets Market Outlook, By Grocery Stores (2021-2030) ($MN)
98 South America Millets Market Outlook, By Online Platforms (2021-2030) ($MN)
99 South America Millets Market Outlook, By End User (2021-2030) ($MN)
100 South America Millets Market Outlook, By Ready to eat food (2021-2030) ($MN)
101 South America Millets Market Outlook, By Bakery (2021-2030) ($MN)
102 South America Millets Market Outlook, By Beverages (2021-2030) ($MN)
103 South America Millets Market Outlook, By Breakfast (2021-2030) ($MN)
104 South America Millets Market Outlook, By Fodder (2021-2030) ($MN)
105 South America Millets Market Outlook, By Other End Users (2021-2030) ($MN)
106 Middle East & Africa Millets Market Outlook, By Country (2021-2030) ($MN)
107 Middle East & Africa Millets Market Outlook, By Product Type (2021-2030) ($MN)
108 Middle East & Africa Millets Market Outlook, By Pearl Millet (2021-2030) ($MN)
109 Middle East & Africa Millets Market Outlook, By Foxtail Millet (2021-2030) ($MN)
110 Middle East & Africa Millets Market Outlook, By Sorghum Millet (2021-2030) ($MN)
111 Middle East & Africa Millets Market Outlook, By Finger Millet (2021-2030) ($MN)
112 Middle East & Africa Millets Market Outlook, By Proso Millet (2021-2030) ($MN)
113 Middle East & Africa Millets Market Outlook, By Barnyard Millet (2021-2030) ($MN)
114 Middle East & Africa Millets Market Outlook, By Other Products Types (2021-2030) ($MN)
115 Middle East & Africa Millets Market Outlook, By Distribution Channel (2021-2030) ($MN)
116 Middle East & Africa Millets Market Outlook, By Trade Associations (2021-2030) ($MN)
117 Middle East & Africa Millets Market Outlook, By Supermarkets (2021-2030) ($MN)
118 Middle East & Africa Millets Market Outlook, By Grocery Stores (2021-2030) ($MN)
119 Middle East & Africa Millets Market Outlook, By Online Platforms (2021-2030) ($MN)
120 Middle East & Africa Millets Market Outlook, By End User (2021-2030) ($MN)
121 Middle East & Africa Millets Market Outlook, By Ready to eat food (2021-2030) ($MN)
122 Middle East & Africa Millets Market Outlook, By Bakery (2021-2030) ($MN)
123 Middle East & Africa Millets Market Outlook, By Beverages (2021-2030) ($MN)
124 Middle East & Africa Millets Market Outlook, By Breakfast (2021-2030) ($MN)
125 Middle East & Africa Millets Market Outlook, By Fodder (2021-2030) ($MN)
126 Middle East & Africa Millets Market Outlook, By Other End Users (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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