The Millet Industry is experiencing a period of dynamic growth, projected to reach USD 15.82 billion by 2030, expanding at a compound annual growth rate (CAGR) of 4.82% from its estimated value of USD 11.38 billion in 2023. The growth is fueled by rising health awareness, increasing demand for gluten-free foods, and government-backed initiatives promoting sustainable agriculture and nutrient-dense crops.

Market Estimation & Definition

Millets are a group of small-seeded cereal crops that have been cultivated for centuries across Asia and Africa. Known for their resilience to drought and pests, millets thrive in less fertile soils where other crops struggle. Nutritionally, they offer rich sources of proteins, dietary fibers, antioxidants, and essential minerals. Their gluten-free nature, combined with their high nutritional profile, makes them a favorable alternative to conventional grains such as wheat and rice, especially for health-conscious consumers and those managing chronic lifestyle-related ailments.

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Millet Industry Snapshot:

Millet are small, round whole grain grown in India, Nigeria and other Asian and African countries. Millet has multiple advantages over other crops, including drought and pest resistance .These millets even survive during harsh environments and less fertile soil .Millets plays an important role in many countries like Asia and Africa, due to gluten free and hypoglycemic properties. They outperform traditional grains like wheat and rice in terms of nutrition and are available in variety of different colors such as white, red, gray, pale yellow. The Great advantage of the millets is that they do not require any pesticides as they are less vulnerable to insect attack when compared with other major cereals. Millets are the main stable crops food and animal fodder in several parts of Africa. There has been steadily hike in consumer preference for millet which has increased the millet production.

Report scope:

The report provides comprehensive market insights for industry stakeholders, including an explanation of complicated market data in simple language, the industry's history and present situation, as well as expected market size and trends. The research investigates all industry categories, with an emphasis on key companies such as market leaders, followers, and new entrants. The paper includes PESTLE analysis for each country. A thorough picture of the competitive landscape of major competitors in the Contact Centre Software market by goods and services, revenue, financial situation, portfolio, growth plans, and geographical presence makes the study an investor's guide.

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Segmentation Analysis

Based on Product Type,

In India and other Asian and African countries millets commonly include sorghum, pearl millet and range of small milltes.India is the leading producer and consumer of different type of millets such as finger millet, pearl millet, Kodo millet, foxtail millet, proso millet, barnyard millet and little millet.India is the sixth largest producer of sorghum globally.

Based on Application,

the millet market is divided into fodder, bread goods, alcoholic and non-alcoholic beverages, breakfast foods, and infant food. Infant food made of millets, like porridge, is perfect for the expansion of the infant market and will help to reduce the incidence of malnutrition in new-borns. Due to their widespread availability in supermarkets, hypermarkets, and e-commerce sites, particularly in Asia Pacific nations, bakery items, including packaged cookies, are progressively gaining popularity.

Based on the distribution channel,

the millets market is divided into super and hypermarkets, grocers, online retailers, and others. The market for millets was dominated by the others sector, but throughout the projected period, the online segment is anticipated to develop at the highest rate. Millets can also be distributed through wholesalers, specialised shops, and direct sales. Direct sales channels establish connections between millet product producers and food processing businesses as well as between consumers and millet product producers.

Regional Insights:

In 2021 ,Millets were the world’s 3501st most traded product with the total share of $205M.The past few years has seen significant rise in the global demand for millets with the global exports growing by 45.8% between 2020-2021.India is the topmost producer of Millets , the United states leads the contribution in exports with a share of around 30%.50% of the Millets produced globally are imported to Indonesia, Iran, Germany, Belgium and South Korea among others establishing the Asia Pacific, Middle East and EU as regions of major global demand.

Competitor Analysis

1. Cargill (US)
2. Archer Daniels Midland Company (US)
3. Seedway, LLC. (US)
4. Ernst Conservation Seeds (US)
5. Eastern Colorado Seeds, LLC (US)
6. Roundstone Native Seed Company (US)
7. Allied Seed, LLC (US)

Conclusion

The global millet market is on a steady upward trajectory, underpinned by rising health awareness, sustainable agriculture trends, and proactive government initiatives. As consumers increasingly seek nutrient-dense, climate-friendly, and gluten-free food options, millets are well-positioned to meet these demands. With ongoing product innovations and expanding global market presence, the millet industry offers promising opportunities for investors, producers, and health-focused food brands alike.

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Frequently Asked Questions:

1. Which is the potential market for the Millet Market in terms of the region?

2. What are the opportunities for new market entrants?

3. What is expected to drive the growth of the Millet Market in the forecast period?

4. What is the projected market size & growth rate of the Millet Market?

5. What segments are covered in the Millet Market report?