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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 Region, Market Share, Forecast Data, In-Depth Analysis, And Detailed Overview, and Forecast, 2022 to 2027

Published: January, 2022
ID: 11684
Pages: 150

Millets Market Size Analysis Report:

Millets Market Size is expected at USD 9.4 billion in 2018 and is anticipated to extent an over of USD 12.0 billion by the end of the assessment period. The Millets Market is estimated to experience reasonable growth to record a CAGR of 4.49% throughout the estimate period (2022 - 2027).

Millet is generally a small seed crop and is known for its high nutritional value. All over the world there are varieties of millet in different colors, such as white, gray, pale yellow and red. They outperform traditional grains like rice and wheat in terms of nutrition. The trend towards the reactivation of millet consumption in several countries favors the growth prospects of this market in recent years. There are several plans to improve the cultivation and consumption of millet to reduce the health risks associated with diabetes, obesity, and cardiovascular disease. Millet plays an important role in many countries in Africa and Asia with regard to food security and the economy. It is gaining popularity in Europe and North America due to its gluten-free and hypoglycemic properties. Millet is a small grain seed that retains its excellent nutritional properties. In terms of nutritional properties, it is superior to some high-consumption grains such as rice and wheat. Despite its excellent nutritional properties, millet has received less attention than the main grain.

Recent Developments

  1. In February 2021, Tata Consumer Products Limited (TCPL) announced today that it has signed definitive agreements to acquire 100% of the shares of Kottaram Agro Foods (KAF), owner of the “Soulfull” brand. This move is in line with TCPL's strategic intention to expand its product portfolio and engage in multiple opportunities for consumers. KAF was founded by Prashant Parameswaran, Rasika Prashant, Dr. KK Narayanan and Amith Sebastian and the 'Soulfull' brand was launched in 2013. The brand operates in the health and wellness oriented food segment with a portfolio of millet products for kids and adults. It is one of the fastest growing brands in the Indian 'best for you' packaged food market.
  2. The United Nations has declared 2023 as the International Year of Millet. India is quickly catching up with the Western world when it comes to millet consumption, said N. Murugan, CEO of Southern Health Foods, maker of the Manna food brand. Extracts: India, Nigeria and China are the world's largest millet producers and account for more than 55% of world production. For many years, India has been a major producer of millet. However, in recent years, millet production has increased dramatically in Africa. In India, pearl millet is the fourth most cultivated food crop after rice, wheat and maize.

Market Drivers and Restraints:

Increased awareness among the urban population about the health benefits associated with consuming millet will drive the growth of the global millet market during the forecast period. Changes in lifestyle and eating habits have led to a number of diseases, including cardiovascular problems such as diabetes, obesity, myocardial infarction, coronary heart disease, and arrhythmia. Millet is rich in minerals and proteins, such as calcium and iron, which can help prevent these diseases. Growing consumer preferences for healthy bakery mixes are prompting producers to use natural gluten-free ingredients that provide the same flavor and consistency without high concentrations of saturated and trans-fats. Adoption of healthy eating habits and a greater tendency to switch to low-calorie alternatives can increase the market share of millet. The millet business is expected to show significant earnings during the forecast period due to important factors, including climate change. But millet will be a more important solution for farmers. Millet is the last crop of the drought and endures extremely high temperatures. Also, due to its great properties like ancient grains gluten free, superfoods, good for weight loss, low glycemic index, millet is now suitable for the biggest global health food trends, so it is important to capitalize on it now to stimulate the market and research. With the growing demand in the Asian and Pacific countries, mainly China and India, farmers began to turn to the cultivation of millet through wheat and rice.

Several diseases, such as diabetes, obesity, cardiovascular problems such as heart attacks and coronary artery diseases, have been caused by eating habits associated with the urban lifestyle. Therefore, increased public awareness of the health benefits associated with consuming millet will drive the future growth of the industry. However, its gluten-free properties should provide beneficial opportunities for the production of low-GI and gluten-free foods. Many developing countries and federal governments have long-term policies to implement nutrition programs to combat malnutrition. Promoting government initiatives and including millet in a variety of foods and beverages will increase the size of the industry. Product demand increased during the forecast period, with an increase in the urban population, a propensity for healthy foods in the Asia-Pacific region, and an increase in the unsustainability of rice and wheat production. More efficient use of water in millet production is expected to boost the global millet market in the coming years. The high costs of products associated with cereals that are mainly consumed impede the penetration of urbanized food markets. This price is generally high compared to rice and wheat due to the weak supply chain and lower production in the millet market. Millet has a limited shelf life which is believed to hamper market growth. Difficult handling is a major challenge that slows consumer demand and increases the potential for minority accounting. Various interventions can be made to give entities in the value chain access to processing plants, on the one hand, and to facilitate consumer access to processed millet products, on the other. Local producers have to transport their products remotely, as there is no suitable processing unit near the millet. High commodity prices relative to mass consumption grains play an important role in preventing the penetration of urban food markets.

Millets Market Segmentation:

The Millets Market can be segmented according to Type, Application, and Distribution channel. Depending on the type, the millet market can be classified into pearl millet, finger millet, prose millet, foxtail millet and others. Pearl sorghum adapts well to hot climates and is drought tolerant. It grows better than other grains in hot, dry areas. Pearl sorghum does well in sandy soils where most other crops fail. Proso millet is mainly adapted to a drier continental climate than most other millets. Also known as common millet, it requires the least amount of water. By application, the millet market is segmented into bakery products, baby food, steamed products, porridge, bread, breakfast food, beverage and animal feed. Porridge and steamed dishes are among the main products traditionally cooked in millet. They are mainly consumed in India and other parts of Africa. It is a food that is usually prepared with oat millet. Sorghum and other sorghum-producing countries tend to consume a thick, hard porridge. Bakery products, including packaged cookies, are becoming increasingly important as they are available in supermarkets, hypermarkets, and e-commerce sites, especially in Asia-Pacific countries. By distribution channel, the market is segmented into supermarkets, trade associations, online stores and traditional grocery stores. Online stores or e-commerce sites are emerging as viable distribution channels for product processors and should show promise. Average growth rate of more than 3% or more per year by 2025. This is one of the best-known channels for canned millet brands and helps processors build their own supply chains that provide services such as home delivery. It also reduces dependence on third-party retailers and traditional grocery stores.

Impact of covid-19 on Millets Market

The COVID-19 outbreak has slowed the growth of the global industry, causing great confusion between buyers and sellers. The production, sale and marketing of products ceased when markets and production units around the world were closed. It also provided the company with the opportunity to nurture its supply chain relationships and business models for the future. The impact of the coronavirus on the food system, especially in China, has caused a loss of market demand. The food and beverage industry also faces many challenges, mainly due to the implementation of the lockdown and transportation restrictions. Social distancing and cleanup orders are further closing restaurants and food chains, negatively impacting the millet market.

Millets Market Regional Analysis:

The Market for Millets has been categorized on the basis of geography to offer a clear understanding of the global market, the world Market for Millets has been studied in four regions: North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.

Among all regions, North America is expected to emerge as the largest market for millet, followed by Asia-Pacific excluding Japan (APEJ), in terms of sales. North American millet and APEJ sales revenue will account for more than a third of the total market during the forecast period. Europe will also remain a lucrative market for millet, which is expected to post a CAGR similar to the APEJ by 2026. Africa and Asia-Pacific are the main regions where almost all varieties of millet are produced. The arid climate regions of the country in this sub-region of Africa are suitable for millet production. India produces all kinds of products and processed forms, which attract the attention of the urban population of the country. Nigeria is a renowned producer of pearl and dog grass products. The governments of these countries have also understood the importance of products in terms of food safety and environmental sustainability. Therefore, they are gradually taking steps to increase yields and introduce products to people through various forms of processing.

Latin America is expected to show steady expansion in the world millet market, but sales in this region are expected to maintain a low share of market revenue. Millet plays an important role in many countries in Africa and Asia in terms of food security and economy. Due to their hypoglycemic and gluten-free properties, they are gaining popularity in Europe and North America.

The Middle East and Africa is one of the main emerging regions, which will generate significant opportunities in the market during the anticipated period due to the increasing because it contains calcium, iron and fiber that help strengthen essential nutrients for healthy growth in children. The region is expected to experience moderate growth during the forecast period due to the above factors. Turkey is considered a crucial market in the Middle East and Africa.

Leading Company

Archer Daniels Midland Company had the largest share of the Millets Market in terms of sales revenue in 2021.

Millets Market Key Players

The Millets Market is concentrated with well-established players. Key players in the Millets Market include Roundstone Native Seed Company, Archer Daniels Midland Company, Bayer Crop Science AG, Ernst Conservation Seeds, Wise Seed Company, Inc, E.I. DuPont De Nemours and Company, Brett-Young Seeds Limited, and Cargill

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                 

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                           

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling     

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                        

                                4.1.1 Drivers      

                                4.1.2 Restaints 

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis         

                                5.1.2 Products/Service 

                                5.1.3 Regional Presence

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Aroma Market, By Type                        

                                6.1.1 Pearl Millet             

                                6.1.2 Finger Millet           

                                6.1.3 Proso Millet            

                                6.1.4 Foxtail Millet          

                                6.1.5 Others      

                                6.1.6 Market Size Estimations & Forecasts (2022 - 2027)   

                                6.1.7 Y-o-Y Growth Rate Analysis              

                                6.1.8 Market Attractiveness Index           

                6.2 Aroma Market, By Application                            

                                6.2.1 Bakery Products   

                                6.2.2 Infant Food             

                                6.2.3 Steam Cooked Products    

                                6.2.4 Porridges 

                                6.2.5 Breads      

                                6.2.6 Breakfast Food      

                                6.2.7 Beverages

                                6.2.8 Fodder     

                                6.2.9 Market Size Estimations & Forecasts (2022 - 2027)   

                                6.2.10 Y-o-Y Growth Rate Analysis           

                                6.2.11 Market Attractiveness Index        

                6.3 Aroma Market, By Distribution Channel                         

                                6.3.1 Supermarket         

                                6.3.2 Trade Associations              

                                6.3.3 Online Stores         

                                6.3.4 Traditional Grocery Stores

                                6.3.5 Market Size Estimations & Forecasts (2022 - 2027)   

                                6.3.6 Y-o-Y Growth Rate Analysis              

                                6.3.7 Market Attractiveness Index           

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                    

                7.2 North America - Market Analysis (2018 - 2024)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Type    

                                7.2.3 By Application       

                                7.2.4 By Distribution Channel     

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Type    

                                7.3.3 By Application       

                                7.3.4 By Distribution Channel     

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Type    

                                7.4.3 By Application       

                                7.4.4 By Distribution Channel     

                7.5 Latin America                            

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Type    

                                7.5.3 By Application       

                                7.5.4 By Distribution Channel     

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Type    

                                7.6.3 By Application       

                                7.6.4 By Distribution Channel     

8. Key Player Analysis                                    

                8.1 Roundstone Native Seed Company                  

                                8.1.1 Business Description           

                                8.1.2 Products/Service 

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis      

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Archer Daniels Midland Company                     

                8.3 Bayer Crop Science AG                          

                8.4 Ernst Conservation Seeds                    

                8.5 Wise Seed Company, Inc                      

                8.6 E.I. DuPont De Nemours and Company                           

                8.7 Brett-Young Seeds Limited                  

                8.8 Cargill                            

9. Market Outlook & Investment Opportunities                                 

Appendix                                           

                List of Tables                     

                List of Figures                   

  1. Global Millets Market By Region, From 2022 - 2027 ( USD Billion )
  2. Global Millets Market By Type, From 2022 - 2027 ( USD Billion )
  3. Global Pearl Millet Market By Region, From 2022 - 2027 ( USD Billion )
  4. Global Finger Millet Market By Region, From 2022 - 2027 ( USD Billion )
  5. Global Proso Millet Market By Region, From 2022 - 2027 ( USD Billion )
  6. Global Foxtail Millet  Market By Region, From 2022 - 2027 ( USD Billion )
  7. Global Others Market By Region, From 2022 - 2027 ( USD Billion )
  8. Global Millets Market By Application, From 2022 - 2027 ( USD Billion )
  9. Global Bakery Products Market By Region, From 2022 - 2027 ( USD Billion )
  10. Global Infant Food Market By Region, From 2022 - 2027 ( USD Billion )
  11. Global Steam Cooked Products Market By Region, From 2022 - 2027 ( USD Billion )
  12. Global Porridges Market By Region, From 2022 - 2027 ( USD Billion )
  13. Global Breads Market By Region, From 2022 - 2027 ( USD Billion )
  14. Global Breakfast Food Market By Region, From 2022 - 2027 ( USD Billion )
  15. Global Beverages Market By Region, From 2022 - 2027 ( USD Billion )
  16. Global Fodder Market By Region, From 2022 - 2027 ( USD Billion )
  17. Global Millets Market By Distribution Channel, From 2022 - 2027 ( USD Billion )
  18. Global Supermarket Market By Region, From 2022 - 2027 ( USD Billion )
  19. Global Trade Associations Market By Region, From 2022 - 2027 ( USD Billion )
  20. Global Online Stores  Market By Region, From 2022 - 2027 ( USD Billion )
  21. Global Traditional Grocery Stores Market By Region, From 2022 - 2027 ( USD Billion )

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