Global Millets Market, By Product (Organic and Regular), Application (Infant Food, Bakery Products, Beverages, Breakfast Food and Fodder), Distribution Channel (Trade Associations, Supermarket, Traditional Grocery Stores, Online Stores and Others), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights of Millets Market
Data Bridge Market Research analyses that the global millets market will project a CAGR of 4.76% for the forecast period of 2021-2028. Growth and expansion of the food and beverages industry, increasing demand and consumption of safe and natural food products with high nutritional content globally, ever-rising population and increasing personal disposable income are the major factors responsible for the growth of millets market.
With nearly 6000 varieties, millets are small-seeded cereals that offer a wide range of nutritional properties. A large volume of millet is produced globally of which the majority is consumed and the remaining is used to produce beer, infant food and breakfast. Millets are widely consumed for breakfast. Available in various colours such as pale yellow, white, grey and red, millets are superior in nutritional value than its competitors. However, millets have received less attention as compared to its competitors such as corn flakes, cereals and so on. The gluten-free and hypoglycaemic properties of millets are gaining popularity all over the world.
Rising personal disposable income and increasing awareness about the health benefits of food products with nutritional content such as millets are the major factors fostering the growth of millets market. Rising unsustainable nature of rice and wheat production is another important factor acting as a millets market growth determinant. High demand of fibrous food for breakfast meals and high gluten free food consumption will further create lucrative growth opportunities for the millets market. Growth and expansion of e-commerce sector especially in the developing economies will induce growth in the millets market value. Changing lifestyle and increasing prevalence of cardiovascular problems such as diabetes and obesity will also induce growth in the demand for millets.
However, high product costs related to consumable millets will pose a major challenge to the growth of millets market. Rising availability of substitutes in the market will further derail the millets market growth rate. Limited shelf life will also hamper the millets market growth rate.
This millets market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on millets market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Millets Market Scope and Market Size
The millets market is segmented on the basis of product, application, and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the millets market is segmented into organic and regular. Organic segment is sub-segmented into pearl, finger, proso and foxtail. Regular segment is sub-segmented into pearl, finger, proso and foxtail.
- On the basis of application, the millets market is segmented into infant food, bakery products, beverages, breakfast food and fodder. Beverages segment is sub-segmented into alcoholic beverages and non-alcoholic beverages.
- On the basis of distribution channel, the millets market is segmented into trade associations, supermarket, traditional grocery stores, online stores and others.
Millets Market Country Level Analysis
The millets market is analyses and market size, volume information is provided by country, product, application, and distribution channel as referenced above.
The countries covered in the millets market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
Asia-Pacific spearheads the millets market and will continue to flourish its trend of dominance during the forecast period. India and China have emerged to become the major contributors from this region owing to the increasing personal disposable incomes, growing urbanization, and supportive government policies. Rising awareness about the health benefits of millets and its nutritional content will further aggravate the demand and supply of millets in the future. Increasing demand for fibre-rich and gluten-free food products among health-conscious consumers is another factor bolstering the growth of market in this region.
The country section of the millets market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Millets Market Share Analysis
The millets market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to millets market.
The major players covered in the millets market report are DSM, Croda International Plc, ADM, BASF SE, Bayer AG, Kerry Group plc, Cargill, Incorporated., OceanWP, Kottaram Agro Foods Pvt Ltd, Rich Millet, Just Organik, Roundstone., Ernst Conservation Seeds, Inc., DuPont., BRETTYOUNG, Seedway, LLC., Sresta Natural Bioproducts Pvt. Ltd., Janadhanya and Pramoda Exim Corporation among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.