Global Millet Market was valued at USD 10.47 billion in 2021 and is expected to reach USD 14.44 billion by the year 2028, at a CAGR of 4.7%. Analysis Of (2024-2032)
A class of grasses with tiny seeds called millet is commonly cultivated as cereal crops or grains for human consumption and animal fodder worldwide. Millets are mostly grown in Asia and Africa, where they are staple foods in many areas and are renowned for their tenacity and adaptability. Pearl millet, finger millet, proso millet, and foxtail millet are among the varieties; each has a distinct nutritional profile and culinary application.
Millets are a nutrient-dense substitute for more popular grains like rice and wheat because they are high in key elements like proteins, fiber, vitamins, and minerals. They are low in glycemic index and gluten, making them a good choice for those with diabetes and celiac disease. The demand for millet has surged globally due to greater knowledge of gluten-free diets and healthy eating.
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Top Key players:
- Archer Daniels Midland Company
- Cargill Inc.
- Nestle S.A.
- Wise Seed Company Inc.
- Roundstone Native Seed Company
- E.I. DuPont De Nemours and Company
- Bayer Crop Science AG
- Ernst Conservation Seeds
- Brett-Young Seeds Limited
- Treta Agro (P) Ltd
- Sresta Natural Bioproducts Pvt Ltd
- Janadhanya Farmers Producer Company Limited
- Dharani FaM CooP Ltd
- Mayoora Foods
- Navan Foods LLC
- Sydler India Pvt. Ltd.
- Nature's Logic.
- Tata Consumer Products Limited (TCPL) and other major players.
Millet Market Dynamics:
The worldwide millet market is expected to be driven by rising urban population knowledge of the health advantages of millet consumption during the forecast period. A wide range of illnesses, such as diabetes, obesity, myocardial infarction, coronary heart disease, and arrhythmia, have been connected to dietary and lifestyle modifications. High in proteins and minerals like calcium and iron, millet can help prevent a number of illnesses. Manufacturers are being forced by consumer demand for healthier bakery mixes to use naturally occurring gluten-free ingredients that have the same flavor and consistency but contain less trans and saturated fat. If consumers adopt better eating practices and are more likely to switch to lower-calorie products, millet's market share may increase.
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Segmentation Analysis of Millet Market:
By Type
- Finger Millet
- Pearl Millet
- Proso Millet
- Foxtail Millet
- Others
By Application
- Flour
- Bakery Products
- Infant Food
- Steam Cooked Products
- Porridges
- Others
By Distribution Channels
- Supermarket
- Trade Associations
- Online Stores
- Traditional Grocery Stores
By Region
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Millet Market Regional Analysis:
In February 2021, Tata Consumer Products Limited (TCPL) stated that it has inked definitive agreements to buy Kottaram Agro Foods (KAF), the owner of the "Soulful" brand, outright. This move is in line with TCPL's strategic goal of expanding its product portfolio and engaging in a variety of consumer opportunities. The 'Soulfull' brand was launched in 2013 by Prashant Parameswaran, Rasika Prashant, Dr. KK Narayanan, and Amith Sebastian, who founded KAF. With a range of millet products for kids and adults, the brand competes in the health and wellness food segment. It is one of the fastest-growing brands in the Indian packaged food market for better for you.
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COMPANY PROFILES AND COMPETITIVE ANALYSIS:
- COMPETITIVE LANDSCAPE
- Competitive Positioning
- Industrial Lighting Market Share By Manufacturer (2022)
- Industry BCG Matrix
- Heat Map Analysis
- Mergers & Acquisitions
- ARIEL CORPORATION
- Company Overview
- Key Executives
- Company Snapshot
- Role of the Company in the Market
- Sustainability and Social Responsibility
- Operating Business Segments
- Product Portfolio
- Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
- Key Strategic Moves and Recent Developments
- SWOT Analysis
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