Millets Market size, share, trends & Forecast

 

The Millets Market was estimated around USD 9,300 million in 2019 and is predicted to grow at a robust CAGR of 4.2% over the forecast period (2020-2027).

The factors driving growth of the market includes growing prevalence of diabetes and obesity around the world, nutrition programs launched by Governments, increasing availability of millet products at e-commerce platforms, emerging trend of veganism, and improvements in the living standards. For instance, the number of people worldwide living with diabetes is expected to increase from 643 million in 2030 to 783 million by the end of 2045, which is expected to push the demand for millet products in the approaching years. Millets are in nutrients such as copper, magnesium, and phosphorus, enhances digestion, prevents gastrointestinal problems, and combat against bowel related problems, are some of the features propelling the market growth. Moreover, growing adoption of advanced technologies by manufacturers, rise in the launch of innovative products, and rapid urbanization, are some of the additional factors supplementing the Millets Market size. In addition, the increasing investments by leading players on research and development, strategic partnerships between companies and growing population growth rates, are further pushing the market growth.

However, millets are comparatively expensive, which might hamper the market growth.

The leading players operating in the market are South Indian Grains Corporation, Earthon Products Pvt. Ltd., Dharmapuri District Minor Millet Farmers Producers Company Ltd., Viruthai Millets, Sahaja Organics, Janadhanya, Prisrine Organics, Dharani FaM CooP Ltd., Shimlahills, and Just Organik, among others.

Based on Product, the Pearl segment is predicted to grow at a significant CAGR during the forecast period

Pearl based millet helps in reduces, lowers cholesterol levels and reduces blood sugar levels, are some of the features pushing growth of the segment.

Based on Application, the Infant Food segment is projected to expand at a robust CAGR over the forecast period

Rising concerns related to malnutrition in children and increasing availability of infant based millet products at e-commerce platforms, are propelling segment’s growth.

Based on Region, the Asia-Pacific region is predicted to hold the largest market share during the forecast period

Increase in production of millets across India, growing prevalence of diabetes and cardiovascular diseases, rise in the launch of innovative products, rapid urbanization, increasing per capita incomes and high population growth rates, are some of the important factors augmenting the Millets Market share in Asia-Pacific region.

 

Market Segmentation

Segmentation by Product

• Pearl
• Finger
• Proso
• Foxtail
• Others

Segmentation by Application

• Infant Food
• Bakery Food
• Breakfast Food
• Beverages
• Fodder
• Others

Segmentation by Region

• Asia Pacific
  • China
  • Japan
  • India
  • Rest of APAC
• North America
  • United States of America
  • Canada
• Europe
  • United Kingdom
  • Germany
  • France
  • Spain
  • Rest of Europe
• RoW
  • Brazil
  • South Africa
  • Saudi Arabia
  • UAE

 

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