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Europe Millets Market by Type (Pearl Millet, Finger Millet, Proso Millet, Foxtail Millet and Others), by Application (Bakery Products, Infant Food, Steam Cooked Products, Porridges, Breads, Breakfast Food, Beverages, and Fodder), by Distribution Channel (Supermarket, Trade Associations, Online Stores and Traditional Grocery Stores), and country, Market Share, Forecast Data, In-Depth Analysis, And Detailed Overview, and Forecast, 2022 to 2027

Published: March, 2023
ID: 11686
Pages: 140
Formats: report pdf report excel report power bi report ppt

Europe Millets Market Grwoth Analysis:

Europe Millets Market is expected at USD 1.29 billion in 2018 and is anticipated to extent an over of USD 2.1 billion by the end of the assessment period. The Europe Millets Market is estimated to experience reasonable growth to record a CAGR of 5.4% throughout the estimate period (2022 - 2027).

Millet belongs to a family of small-seeded grasses that offer high productivity and yield. Grasses can grow in hot, dry regions, and are hardy and durable in regions with little water resources. Millet flour is the main base of flat breads and is also used as an ingredient in beers and other fermented beverages and porridges. Millet is a nutritious, non-sticky, non-acidifying and easily digestible food. Millet is known to improve skin health, reduce wrinkles, and improve skin discoloration and pigmentation. Millet is rich in fiber and protein and rich in B vitamins, including niacin, B6, and folate, phosphorus, and manganese, and is widely considered a "nutritious grain." Trace elements act as antioxidants and are believed to provide benefits for people with poor bone health, arthritis, inflammation, and PMS or PMS.

Recent Developments

JD Sports acquired the retailer Go Outdoors for £ 112 million from its private equity owners. As part of the deal, JD Sports will buy the 58-store chain, whose products range from tents to bicycles, from YFM Equity Partners and 3i Group. This purchase will be added to the JD Sports team of outdoor brands such as Blacks, Millets, and Ultimate Outdoors. Following the agreement, Go Outdoors founders Paul Caplan and John Graham will leave the company.

In April 2018, Syngenta India Ltd, a Syngenta company, agreed to sell its millet, sorghum and forage business to Crystal Crop Protection Ltd. The business sold includes seed brands such as Mahalaxmi, Atheeva and SX-17. Crystal Crop Protection is an agrochemical company in India. The sale of the seed business, which only affects operations in India, comes as Syngenta AG completed the acquisition of Nidera Seeds from COFCO International earlier this year. Syngenta bought Nidera from the Chinese grain trader in an attempt to strengthen its reach in South America.

Market Drivers and Restraints:

Factors resulting from climate change, global warming, ever-changing climatic conditions, and the unstable or volatile nature of wheat and rice cultivation are expected to lead to an increasing demand and preference for millet and millet products. . Increasing product visibility and availability via social media and e-commerce platforms is expected to continue to support demand and market growth during the forecast period. The health benefits associated with consumption, reviews, and information available online and on social media platforms are also expected to continue to drive demand. Another factor that is expected to drive market growth is the increasing demand and consumption of more fibrous and gluten-free breakfast food products. The increased focus on health and wellness and the shift in preference towards consumer products that provide health benefits among a growing base of health-conscious consumers in both developed and developing countries should continue to open opportunities with high potential for the main players in the sector target market. One of the most recent and fast growing trends in the market is the shift in preference for these food products, which is expected to continue in the future. Some of the main factors that can hamper market growth include millet's short shelf life and comparatively higher prices than other widely consumed grains in the world.

Market Segmentation

The Europe Millets Market can be segmented according to type, Distribution Channel, and Application. Depending on the type it can be divided into Foxtail Millet, Proso Millet, Finger Millet, Pearl Millet, and Others (Includes Japanese barnyard millet, Kodo millet, etc.). The pearl millet segment currently represents the largest share of revenue among the product segments and is expected to maintain its dominance over the next five years. Pearl millet adapts well to growing in hot, dry conditions and is more resistant than other grains. Pearl millet can also be grown on sandy soils and is grown mainly in African countries. On the basis on Distribution Channel for Europe Millets Market it can be divided into supermarkets, trade associations, online stores and traditional grocery stores. Among the distribution channel segments, the modern retail and specialty store segments are expected to maintain their dominant position in terms of revenue share over others during the forecast period. This can be attributed to the easy availability of a variety of brands and the convenience of these channels to access and purchase products. Depending on the Application it can be divided into bakery products, baby food, steamed products, porridge, bread, breakfast food, beverage and animal feed. The soft drink segment among the application segments is expected to account for a comparatively higher revenue share, and applications in various other food and beverage industries are expected to continue to grow in the future.

Impact of covid-19 on Europe Millets Market

COVID-19 started in Wuhan, China in December 2019 and has since spread at a rapid pace around the world. The food and beverage industry is one of the top industries experiencing severe disruptions such as supply chain disruptions, technology event cancellations, office closures, and more as a result of this epidemic. The closure of several factories and factories in the main regions of Europe is affecting supply chains and negatively affecting the manufacturing, delivery times and sales of various products in Europe. In addition, global travel bans imposed by countries in Europe, Asia and Europe affect business collaborations and partnership opportunities, thus negatively impacting the European food and beverage industry, thus limiting the growth of various markets related. In Europe, Italy has the highest number of confirmed cases of the corona virus, compared to other countries. This is likely to affect the food and beverage industry in the region as due to the COVID-19 outbreak, the supply and distribution chain is likely to be affected.

Regional Analysis

The Europe Millets market has been classified on the basis of geography to offer a clear understanding of the market. The Europe Millets Market has been divided into United Kingdom, Germany, France, Italy, Spain and the rest of Europe. The United Kingdom represents the majority of the millet market. Millet companies in this region continually improve their overall business processes and product portfolio to meet the growing demand from Beverage, Dairy and Frozen dessert, Confectionery and bakery producers. Many national and international companies are firmly established in Europe. The region primarily supports the growth of the millet market through an efficient food manufacturing sector and flexible trade policies. The steady growth of millet production in Europe is driven by a steady demand for millet from retailers and an efficient supply chain.

Leading Company

Organik had the largest share of the Europe Millets Market in terms of sales revenue in 2021.

Key Players

The Europe Millets Market is concentrated with well-established players. Key players in the Europe Millets Market include Bob's Red Mill Natural Foods, Inc., Organik, Ufenal Ltd, Sresta Natural BioproductsPvt. Ltd, and Shimla Hills Offerings

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