Global Millets Market Report Forecast by Product, Application, Distribution Channels, Countries and Company Analysis

Global Millets Market Size

Global millets market is expected to touch US$ 17.65 billion by 2032 from US$ 10.56 billion in 2023, with a CAGR of 5.88% between 2023-2032. The driving forces are rising customer demand for health and fitness requirements, shift in dietetics: vegan and vegetarian meals, millets being large scale food crops, more stress on nutritionals around the world.

Millets Industry Overview

Millets are small-seed fraternity plants that has been cultivated as cereals from time immemorial. Of all these crops some of the most popular drought resistant crops are the pearl millet, finger millet, the foxtail millet as well as the sorghum. Originally grown in African and Asian countries, millets are produced and consumed all over the world and especially in the regions which receive low rainfall. For that reason, they are labelled as nutrient-dense foods that contain essential amino acids, vitamins, minerals and dietary fibre. It is among the grains which do not contain gluten and have low glycemic index and should therefore be taken by people with the diseases of celiac disease and diabetes. Such qualities as ability to reproduce in unfavorable environments, and lack of attention have driven the demand of millets as climate smart crops.

There is vast uses and benefits of millet and it is consumed in all the regions of the globe. People of many parts of Africa and Asia rely on them as their staple foods; they are taken in the form of porridge, bread and fermented drink. Millet is gradually being accepted in the western oriented countries as health functional food and is being utilized in breakfast cereals, snacks and gluten free products among others Its importance is seen in the livestock industry where it is used as fodder Some of the types of millet are grown for bird feed. Besides foods and feeds, millet has the industrial potential for ethanol and the other bio fuels. Due to its ability to feed the people better break the boring usage of few staple crops, besides seeing through climate shocks, Millets is now embraced by the whole world.

Growth Drivers of the Worldwide Millets Market

Rising Demand for Healthy and Nutrient-Dense Foods

The global millet market is on the rise due to the rising demand for healthy and nutritional food products in the global market. Millets contains fibers, vitamins, antioxidants, and minerals; therefore, they are popular with clients who are cutting on their calorie intake. With a change in diet from the popular vegan and gluten-free diets around the world the millet is coming out as a superfood. This is the reason the consumers are more concerned with the products that can help in managing their diabetes, digestion problems and in losing weight. Organic fight also added extra advantage to millet uptake as people are embracing 'Natural and Organic' foods including grains. This change in preferences directs demand for millet and its products prepared as, for instance, flour, snaks and FOCPs.

Government Policies and Agricultural Promotion

Government policies and program in favour of the crop are the growth factors of the global millets market. Many countries especially in the Asian and Africa continent are urging the production and use of millet in food security and food diversification. Many governments have adopted policies such as provision of incentives, subsidies, and training to farmers to embrace millet farming than other crops since the former is resistant to climate change. The United Nations later in identifying and promoting the grains globally declared the year 2023 as the International Year of Millets. These initiatives are traditional millet farming and investing in technologies and supply chains for processing purpose and doubled up availability, demand of millet products.

Rising Demand for Gluten Free and Eco-Friendly Products

Major trends influencing the consumption of millet are the gluten-free foods market and the trend towards the environmental friendliness of products. With increased cases of celiac disease coupled with other personal preference diets that Gluten free, millets apply as a natural as gluten free grains as compared to wheat and barleys. Also, yields from millets are relatively low on water and inputs, which is a good thing environmentally. Due to increasing awareness of available fresh water and sustainable agriculture around the world millets are now being cultivated as climate smart crops. The combined effect of these health and environmental impact is turning millets into many sectors like packed food products, specialty health foods, and other various markets around the globe.

Europe Millets Market

The European millet market is currently on an impressive growth trajectory triggered by numerous factors. A main trend fueling this growth is the emergent health consciousness among consumers, thus the need for clean-label foods. Also, the growing number of vegan's results in the demand for millet products as well as products containing millet. Germany, France, and the U. K are expected to lead such growth as exhibition strong demand towards the millet-based products in the forthcoming years.

Understanding the prospect of Europe market, firms are positioning themselves to focus on carrying out research and developmental studies to developed innovative millet-based food products that will fit the palate of consumers. The proactive planning for this approach foresees positive results to boost the regional market prospects in the near future.

Global Millets Company Analysis

The key players in the global millets market are Archer Daniels Midland Company, Cargill, Bayer Crop Science AG and Nestle S. A., NH Foods Ltd These companies are involved in both production and marketing of millets across the world.

Global Millets Company News

In September 2023, Nestle India introduced Nestle a+ Masala Millet-based porridges made with locally sourced ingredients, such as barley, vegetables, bajra, and spices. Available in Veggie Masala and Tangy Tomato flavors, they take just two minutes to make.

In May 2023, Bonn Group of Industries introduced a range of bakery goods based on millet, including Millet Pizza, Millet Bread, and Millet Burgers. These products are made with Bajra, Jowar, and Ragi and promote a healthy millet-based diet in support of the International Millets Year and the Millet Mission in India.

May 202- ITC introduced Sunfeast Farmlite Super Millets Cookies, made from a combination of millets like jowar and ragi and without maida. They offer Multi Millet and Choco-chip Multi Millet varieties, balancing taste and nutrition as a source of iron, fiber, and protein. This launch supports ITC's Mission Millet program.

Product - Market breakup in 2 viewpoints:

1. Organic

2. Regular

Application - Market breakup in 6 viewpoints:

1. Infant Food

2. Bakery Product

3. Breakfasts

4. Beverages

5. Fodder

6. Others

Distribution Channel - Market breakup in 5 viewpoints:

1. Trade Associations & organizations

2. Supermarkets

3. Traditional Grocery Stores

4. Online Stores

5. Others

Countries - Market breakup in 25 viewpoints:

North America

United States

Canada

Europe

France

Germany

Italy

Spain

United Kingdom

Belgium

Netherland

Turkey

Asia Pacific

China

Japan

India

South Korea

Thailand

Malaysia

Indonesia

Australia

New Zealand

Latin America

Brazil

Mexico

Argentina

Middle East & Africa

Saudi Arabia

UAE

South Africa

All the key players have been covered from 5 Viewpoints:

• Overviews
• Key Person
• Recent Developments & Strategies
• Product Portfolio & Product Launch in Last 1 Year
• Revenue

Key Players Analysis:

1. Archer Daniels Midland Company

2. Cargill

3. Bayer Crop Science AG

4. Nestle S.A.

5. NH Foods Ltd