Global Millets Market - 2023-2030

Market Overview

The Global Millets Market reached US$ 6.2 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 9.5 billion by 2030. The market is expected to exhibit a CAGR of 5.5% during the forecast period 2023-2030.

Millets are a diverse group of small-seeded grains cultivated for their nutritional value and adaptability to various growing conditions. They encompass different varieties such as pearl millet, finger millet, foxtail millet, and sorghum. Millets are known for their high fiber content, protein, and minerals, making them a healthy choice in diets. They have versatile culinary applications, including porridge, flatbreads, and fermented beverages.

The millets market is experiencing significant growth driven by increasing consumer demand for nutritious and healthy food options. The market is witnessing expanding distribution channels, including traditional retail outlets, supermarkets, online platforms, and direct sales. The rising awareness of the health benefits associated with millets and their versatile culinary applications is contributing to the market's growth. With a focus on sustainable agriculture and food security, the millets market is poised for continued expansion in the coming years.

Market Dynamics

Growing Demand for Nutritious and Whole Grains Drives Expansion of Millets Market Share

The millets market trend is driven by a key driver of the millets market is the increasing demand for nutritious grains, including whole grains and small-seeded grains. Millets, known for their high nutritional value, including fiber, protein, and minerals, are gaining popularity among health-conscious consumers. The growing recognition of the health benefits associated with consuming nutritious grains not only drives the demand for millets but also contributes to the growth of the millets market share. As consumers prioritize healthier food options, the millets market share continues to expand, positioning them as a preferred choice among nutritious, whole, and small-seeded grains.

Consumer Awareness and Acceptance of Ancient and Gluten-Free Grains Pose Key Restraint for Millets Market

One key restraint of the millets market is the limited consumer awareness and acceptance of ancient grains and gluten-free grains. Despite the nutritional benefits and versatility of millets, including their classification as ancient and gluten-free grains, there is still a lack of widespread knowledge and understanding among consumers. This constraint affects the market's potential for growth and expansion.

To overcome this challenge, efforts are needed to educate consumers about the health advantages of incorporating millets into their diets and to promote the value of ancient grains and gluten-free options. By raising awareness and addressing consumer perceptions, the millets market can unlock its full potential and drive increased demand for these nutritious and sustainable grain alternatives.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global millets market is segmented based on type, consumption, and region.

Diverse Distribution Channels Drive Millets Market Penetration, to Reach Wide Consumer Base

According to the millets market analysis, the distribution channels for the millets market, including sorghum, involve a variety of avenues to reach consumers. Typically, millets are distributed through various channels, including traditional retail outlets, supermarkets, specialty health food stores, online platforms, and direct sales from farmers or cooperatives.

While specific percentage data may vary, traditional retail outlets and supermarkets generally hold a significant share in millets distribution, accounting for approximately 50-60% of sales. Online platforms have been experiencing growth in recent years, capturing around 20-30% of the millets market share. Specialty health food stores and direct sales from farmers or cooperatives make up the remaining portion of the distribution channel, typically constituting 10-20% of the market.

Geographical Analysis

Asia Pacific Millets Market Thrives on Rising Health Consciousness and Diverse Distribution Channels in the Region

By region, the global millets market is segmented into North America, South America, Europe, Asia-Pacific, and Middle-east & Africa.

The Asia Pacific millets market, encompassing pearl millet, finger millet, foxtail millet, and sorghum, is witnessing significant growth and opportunity, as indicated by millets market analysis. The millets market trend is driven by factors such as rising health consciousness and changing consumer preferences, contributing to the expansion of the millets market share.

Traditional retail outlets and local markets play a dominant role in distribution, while online platforms and supermarkets are gaining momentum due to convenience and shifting consumer preferences. The nutritional benefits of millets, coupled with the region's rich agricultural heritage, fuel market growth in the Asia Pacific region, providing ample opportunities for market expansion and penetration.

Competitive Landscape

The major global players include: AgMotion Specialty Grains, Goya Foods, Inc. Bob's Red Mill Natural Foods, Navdanya International, Shiloh Farms, Nature's Path Foods, Rich Grains International, Ceres Organic Harvest, Sahaja Samrudha Organic Producer Company Ltd, and Aarkay Food Products Ltd.

Why Purchase the Report?

• To visualize the global millets market segmentation based on type, application, distribution channel, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of millets market-level with all segments.
• The PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global millets market report would provide approximately 61 tables, 63 figures, and 195 pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies