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Global Millet Market: Industry Analysis

Submitted by pallavis on Sat, 06/12/2021 - 06:20

According to Maximize Market Research, the Global Millet market is expected to grow at a moderate growth rate and reach a significant market value by the end of the forecast period. The Global Millet market has been witnessing steady growth during the 2019-2026 period. It is anticipated to grow at a CAGR of 8.32% throughout the period of assessment to reflect a market value of US$ XX Bn by 2026 from a value of US$ XX Bn in 2019.

Global Millet Market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The Global Millet Market report also provides trends by market segments, technology, and investment with a competitive landscape.

Global Millet Market

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Global Millet Market Overview:

Millets are a type of small-seeded cereal with high nutritional value. Millet comes in almost 6,000 different colour variants around the world, including pale yellow, white, grey, and red. They outperform several commonly consumed cereals, such as rice and wheat, in terms of nutritional value. Millets have received less attention than the other grains, despite their high nutritional value. Millets are vital to the food security and economies of many African and Asian countries. Because of their gluten-free and hypoglycemic qualities, they are gaining popularity in Europe and North America.
Global Millet Market Dynamics:

Over the projection period, rising urban consumer demand for healthy food in Asia Pacific countries such as China and India, along with the increasingly unsustainable nature of wheat and rice processing, will boost product demand. Obesity, diabetes, and cardiovascular disorders such as coronary artery disease, heart attack, and arrhythmias, to name a few, have all been linked to changes in lifestyle and eating habits. Millets are abundant in minerals and proteins, such as calcium and iron, which can aid to prevent disorders like these. As a result, rising urban population knowledge of the health benefits of millet consumption will drive market expansion over the forecast period.

Millets are small-seeded cereals with the highest nutritional value. Millet comes in about 6,000 different colours and varieties around the world, including white, pale yellow, red, and grey. They outperform certain commonly consumed grains, such as wheat and rice, in terms of nutritional value. Millets, despite their excellent nutritional value, have received less attention than cereals. Millets are important for food security and the economy in many Asian and African countries. Because of their hypoglycemic and gluten-free qualities, they are gaining popularity in North America and Europe.

Millets are expected to grow rapidly over the projection period due to a number of factors, including climate change. Because of pollution, climate change is projected to worsen. Droughts are projected to become more common during the predicted period. Millets, on the other hand, will be a more crucial solution for farmers. Millets are a drought-resistant crop that can survive exceptionally high temperatures. Furthermore, millet fits the current largest global health food trends due to outstanding characteristics such as gluten-free, ancient grain, superfood, helpful for reducing weight, and low glycemic index, therefore it's critical to capitalise immediately to drive markets and R&D.

Furthermore, millet fits the current largest global health food trends due to outstanding characteristics such as gluten-free, ancient grain, superfood, helpful for reducing weight, and low glycemic index, therefore it's critical to capitalise immediately to drive markets and R&D.
Challenge of Processing (India):

Consumer demand and upscaling potential for tiny millets are being hampered by difficult processing. On the one hand, value chain actors can gain access to processing factories, and on the other hand, consumers can gain access to processed millet goods. Due to a shortage of sufficient processing equipment close to millet fields, local growers are forced to transport their goods to a dispensary. Little millets and Kodo millets, for example, must be carried to Nasik (Maharashtra) for processing from Dharmapuri (Tamil Nadu), Koraput (Odisha), or Dindori and Mandla districts (Madhya Pradesh). This raises prices throughout the value chain, including for consumers, who must pay more for millet items than they do for paddy or wheat items.

In this regard, it's worth noting that the private sector's establishment of large-scale regional processing units in Southern India (for example, in Tamil Nadu's Theni district) and, more recently, in Chhattisgarh's Raipur) is having a very positive impact, shortening value chains and favouring local and regional consumption through cheaper products. Similar actions in the country's other millet-growing regions might be useful.
Global Millet Market Segment Analysis:

Based on the product, the millet market is classified into finger, peral, foxtail, porso and others. Over the predicted period, Pearl is expected to hold the biggest share. Almost half of the world's millet is produced with this product. In the Asia Pacific and Africa regions, the aforementioned product is regarded as the most important millet species in terms of harvested areas and contributions to food security. Millet production in India is the most significant in terms of volume.

Most millets are more suited to a dry continental climate than proso millet. It is also known as common millet and has the lowest water requirement. Eastern Asia, including Japan, India, Mongolia, and Manchuria, as well as eastern and central Russia, are the primary producers of proso millet.

Based on the application, the millet market is classified into infant food, bakery products and beverages (inclusive of Alcoholic and Non-Alcoholic). Infant food made from millets, such as porridge, is perfect for market growth and will help to reduce the incidence of malnutrition in babies and infants. Bakery products, such as packaged cookies, are gradually increasing in popularity as a result of their widespread availability in supermarkets, hypermarkets, and e-commerce sites, particularly in Asia Pacific countries.

Global Millet Market
Global Millet Market Regional Analysis:

Almost all millet varieties are produced in the Asia Pacific and Africa, according to geography. Nigeria, India, Mali, China, and Niger were the top five product-growing countries in 2019, according to the FAO. India has the largest production volume in the world, whereas Mali, Nigeria, and Niger are largely Sub-Saharan African countries that have been producing millets for decades. The arid climatic zones of countries in a subregion of Africa are ideal for millet cultivation.

These countries' governments have also recognised the product's relevance in terms of food security and environmental sustainability. As a result, they are gradually increasing yield and introducing goods to the people in various processed forms.

Global Millet Market

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Global Millet Market
Global Millet Market, by Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Global Millet Market Key Players

• Cargill
• Archer Daniels Midland Company
• Wise Seed Company
• E.I. DuPont De Nemours and Company
• Bayer Crop Science AG
• Ernst Conservation Seeds
• Brett-Young Seeds Limited
• Roundstone Native Seed Company
• Janadhanya Farmers Producer Company Limited
• Dharani FaM CooP Ltd
• Treta Agro (P) Ltd
• Sresta Natural Bioproducts Pvt Ltd
• Just Organik
• Earthon Products Pvt Ltd
• Shimla Hills Offerings Pvt. Ltd.
• Pristine Organics Pvt Ltd.
• Sresta Natural Bioproducts Pvt. Ltd.
• Dharmapuri District Minor Millet Farmer Producer Company Limited
• Sahaja Samrudha Organic Producer Company Ltd (SSOPCL)
• Viruthai Millets Farmer Producer Company Ltd. (VMFP

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