Technology

Global Millets Market Set to Grow at Healthy CAGR of 19.2% by 2026

Global Millets Market

Global Millets Market By Product (Organic, Regular), Application (Infant Food, Bakery Products, Beverages, Breakfast Food, Fodder), Distribution Channel (Trade Associations, Supermarket, Traditional Grocery Stores, Online Stores)

Market Analysis: Global Millets Market

Global millets market is expected to rise from its estimated value by registering steady CAGR of 4.75% in the forecast period of 2019-2026. Increasing population is the major growth factor for the growth of this market.

Competitive Analysis:

Global millets market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of millets market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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Market Definition: Global Millets Market

Global Millet Market is a variety of small-seeded grasses which are widely grown around the world as cereal crops for fodder and human food. A large volume of millet produced, is to be consumed and the remaining is used to produce beer, infant food and breakfast. It is a widely used to make breakfast products such as flakes and cereals. Millet beer is popular in African culture. The mostly grown millet is pearl millet. It is an important crop in India and parts of Africa. Millets are rich in of protein, fiber, vitamins and minerals.

Market Drivers

  • Rising unsustainable nature of rice and wheat production will boost the growth of the market
  • Increasing  awareness in people about the health benefits related with millets consumption is a driver for the market
  • High demand of fibrous food for breakfast meals and high gluten free food consumption is driving the growth of the market
  • Growing online e-commerce sites owned by either retailers or processors will propel the market growth

Market Restraints

  • Short shelf life of millets will hamper the market growth
  • High prices as compared to largely consumed grains is restraining the growth of the market

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Segmentation: Global Millets Market

By Product

  • Organic
    • Pearl
    • Finger
    • Proso
    • Foxtail
  • Regular
    • Pearl
    • Finger
    • Proso
    • Foxtail

By Application

  • Infant Food
  • Bakery Products
  • Beverages
    • Alcoholic
    • Non-Alcoholic
  • Breakfast Fodder
  • Fodder

By Distribution Channel

  • Trade Associations
  • Supermarket
  • Traditional Grocery Stores
  • Online Stores

Key Development in the Market:

In April, 2018, Agri-business firm Syngenta sold some part of its seed business to Crystal Crop Protection for an unsaid amount. Syngenta is investing in the pearl-millet, sorghum and fodder business to have an attention and synergy to enlarge its field crop and vegetable seeds policies. After this acquisition of seeds from Syngenta, the company strengthened their seed portfolio

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