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)
Around the world, millets are a family of small-seeded grasses that are widely cultivated as cereal crops or grains for human consumption and animal fodder. While most millets are categorized as members of the Paniceae tribe, others are classified as members of other taxa. 97% of millet is produced in developing nations and is a key crop in the semiarid tropical regions of Asia and Africa, including in India, Mali, Nigeria, and Niger. The crop is prized for its high yield and short growing season in hot, dry conditions. Around the world, millet grows wild in many different places. The most widely planted millet is pearl millet, which is used as a major crop in parts of Africa and India. Proso millet, foxtail millet, and finger millet are other significant agricultural species. Millets may have been a "key role" in the formation of permanent farming civilizations and multi-crop agriculture, as people may have been consuming them for 7,000 years.
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Top Key players:
- Archer Daniels Midland Company
- Cargill Inc.
- Nestle S.A.
- Wise Seed Company Inc.
- Roundstone Native Seed Company
- 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.
Market Dynamics:
Drivers of the Millet Market:
Growing knowledge of the health advantages of this ancient grain is driving the millet market. Due to its gluten-free status, high fiber content, and abundance of vital elements like iron, phosphorus, and magnesium, millet is becoming more and more popular among health-conscious customers and people with dietary limitations like celiac disease. Furthermore, millet's appeal is boosted by the growing desire for environmentally friendly and sustainable crops because it needs less water and can withstand harsher climates than other grains. Due to its resilience, millet may be grown in areas that are vulnerable to drought, which is in line with international initiatives to support food security and sustainable agriculture.
Opportunities in the Millet Market:
The millet market offers a lot of room for expansion and creativity. Product diversification presents a big opportunity for firms, as they may create a broad range of millet-based products, including snacks, health bars, and ready-to-eat meals, to accommodate a variety of consumer tastes. Investigating the functional food and beverage sector and promoting millet for its particular health advantages such as improving digestion, decreasing blood sugar, and promoting heart health is another promising avenue. To further boost market growth, consider venturing into new geographic areas, particularly those with growing health consciousness and a desire for gluten-free products.
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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)
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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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