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%.
Millets are considered small-seeded cereals that hold the best nutritional qualities. There are almost 6,000 diversities of millet across the globe with numerous colors such as white, pale yellow, red, and gray. With regards to nutritional property, they are superior to certain highly consumed cereals such as wheat and rice. Even though millets have high nutritional qualities, it has received less attention compared to cereals. Millets play a significant role in food security and the economy of many countries in Asia and Africa. They are gaining importance in North America and Europe owing to their hypoglycemic and gluten-free properties.
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Over the forecast period of 2022-2028, the size of the Millet Market is predicted to grow rapidly and at a considerable CAGR. The market's expansion is thought to be due to rising demand for Millet Market Applications over the world. At a country level, the report shows the potential opportunities in the Millet Market. Furthermore, for the forecast period, the research includes a detailed analysis of the cost, segmentation, trends, region, and commercial growth of the most prominent major players around the world.
The Major Players In The Millet Market Include:
- 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 has segmented the global Millet market on the basis of type, application, and region:
The Millet market is segmented by type and application. Growth between segments over the period 2022-2028 provides accurate calculations and forecasts of revenue by type and application in terms of volume and value. This analysis can help you expand your business by targeting eligible niches.
By Type:
- Finger Millet
- Pearl Millet
- Proso Millet
- Foxtail Millet
- Others
By Application:
- Flour
- Bakery Products
- Infant Food
- Steam Cooked Products
- Porridges
- Others
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By Regional Outlook
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
- Middle East Africa (GCC Countries, South Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of South America)
Covid-19 Impact and Recovery Analysis on Industry:
COVID-19's situation in 2020 had a beneficial and negative impact on the millet market. On the negative side, the market has seen supply chain disruptions, workforce shortages, and the closure of small processing units as a result of periodic lockdowns. The impact of the coronavirus on the food chain has resulted in a drop-in market demand, particularly in China. The food and beverage business is also facing numerous obstacles, owing to the lockdown and transit constraints. Restaurants and food chains are closing as a result of social alienation and cleanup orders, significantly harming the millet market.
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
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Reasons to Purchase the Millet Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
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