The millet market is anticipated to reach a valuation of US$ 12.5 billion in 2023 to reach a valuation of US$ 44.1 billion by 2033. The market is expected to record a CAGR of 13.4% over the forecast period.
Millets are typically small-seeded cereal plants that are valued highly for their nutritional content. Millet comes in a variety of colors, including red, white, grey, and pale yellow. In terms of nutritional value, they outperform several popular kinds of cereal like wheat and rice.
Significant Growth Aspects of the Millet Market
Restraining Factors of the Millet Market
Millets have a short shelf life, which is predicted to negatively impact market growth. Moreover, urban food market penetration is hampered by high product prices relative to widely consumed grains.
Attributes | Values |
---|---|
Millet Market CAGR (2023 to 2033) | 13.4% |
Millet Market Size (2023) | US$ 12.5 billion |
Millet Market Size (2033) | US$ 44.1 billion |
Market Trends
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Millet Market:
Attributes | Millet Market |
---|---|
CAGR (2023 to 2033) | 13.4% |
Market Value (2033) | US$ 44.1 billion |
Growth Factor | The growing health and wellness consciousness |
Opportunity | Being a staple food and easy to grow the crop, it is gaining popularity around the world. |
Restraint | Shorter shelf life is the key restraint of millet |
Plant-based Food Market:
Attributes | Plant-based Food Market |
---|---|
CAGR (2023 to 2033) | 12.2% |
Market Value (2033) | US$ 35.9 billion |
Growth Factor | Consumers who are concerned about their health and the environment are becoming more and more interested in plant-based diets. |
Opportunity | With more consumers seeking plant-based options, there is a significant opportunity for companies to gain market share and increase profitability by providing products that meet the evolving needs of consumers. |
Restraint | The accessibility of plant-based food is still low in many parts of the world. |
Egg Substitute Market:
Attributes | Egg Substitute Market |
---|---|
CAGR (2023 to 2033) | 5.9% |
Market Value (2033) | US$ 2.06 billion |
Growth Factor | There is a growing demand for egg substitutes among health-conscious and ethically aware consumers. |
Opportunity | The egg substitute market presents an opportunity for companies to develop innovative and diverse product offerings that cater to the needs and preferences of different consumer segments. |
Restraint | Many consumers still perceive egg substitutes as inferior to real eggs in terms of taste and texture |
The Indian government refocused its attention on millet farming practices and passed legislation to create an environment that is supportive of farmers.
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Since the National Programme for Organic Production (NPOP's) was established in 2001, as announced under the Foreign Trade (Development and Regulations) Act, 1992, APEDA has been implementing it. Standards for livestock, poultry, aquaculture, apiculture, and other agricultural practices are covered by NPOP. The nation exports under NPOP's guidelines.
The European Union and Switzerland have acknowledged the NPOP certification, allowing India to export unprocessed plant products such as millet to these nations without the need for extra certification.
Asia Pacific is the region that is likely to contribute the most in terms of production and export, expected to be followed by Africa. The significant production and consumption share in Asia Pacific belongs to India. Globally, India produces the most millet. Nigeria, Mali, and Niger, among other African nations, consistently produce a good amount of goods. A favourable environment for the growth of millets is provided by the arid climate of these regions.
Competitive Landscape
The global millet market is highly competitive. Due to the increasing focus on health benefits, the market is observing the continuous entry of new players. Key players are therefore concentrating on research & development and joint ventures to diversify their portfolio and launch innovative products more frequently.
Attribute | Details |
---|---|
Forecast Period | 2023 to 2033 |
Historical Data Available for | 2018 to 2022 |
Market Analysis | US$ billion for Value and Metric Ton for Volume |
Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and The Middle East & Africa |
Key Countries Covered | United States of America, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, Spain, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Singapore, Australia, New Zealand, GCC countries, North Africa, South Africa, others |
Key Segments Covered | Product, End Use, and Region |
Key Companies Covered | Britannia; Hindustan Unilever; ITC; Tata Soulfull; Nestle; True Elements; Mayoora Foods; Navan Foods, LLC.; Sydler India Pvt. Ltd; Cargill Inc. |
Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Customization & Pricing | Available upon Request |
The projected CAGR of the millet market by 2033 is 13.4%.
The projected market value by 2033 is US$ 44.1 billion.
The market is estimated to secure a valuation of US$ 12.5 billion in 2023.
The food industry is the key consumer of the millet market.
The opportunities in the millet market are increasing demand for healthy food.
1. Executive Summary | Millet Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Product launches & Recent Developments 3.4. Product Life Cycle Analysis 3.5. Value Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. % of Operating Margin Analysis 3.5.3. List of Existing and Potential Buyer’s 3.6. Pricing Analysis 3.6.1. Price Point Assessment by Region 3.6.2. Price Point Assessment by Application 3.6.3. Price Forecast till 2033 3.6.4. Factors affecting pricing 3.7. Forecast Factors - Relevance & Impact 3.8. Regulatory Landscape 3.9. Regional Parent Market Outlook 3.10. Production and Consumption Statistics 3.11. Consumers Survey Analysis 3.12. Macro-Economic Factors 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) & Volume (MT) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) & Volume (MT) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Product, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Product, 2023 to 2033 5.3.1. Sorghum 5.3.2. Pearl Millet 5.3.3. Finger Millet 5.3.4. Little Millet 5.3.5. Porso Millet 5.3.6. Kodo Millet 5.3.7. Foxtail Millet 5.3.8. Barnyard Millet 5.4. Y-o-Y Growth Trend Analysis By Product, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Product, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use Application 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By End Use Application, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By End Use Application, 2023 to 2033 6.3.1. Bakery & Confectionery 6.3.2. Protein and Nutritional Bars 6.3.3. Breakfast Cereals 6.3.4. Functional Beverages 6.3.5. Dairy Alternatives 6.3.6. Frozen Desserts 6.3.7. Dietary Supplements 6.3.8. Sports Nutrition 6.3.9. Infant Nutrition 6.3.10. Meat Additives, Analogs & Substitutes 6.3.11. Dressings, Sauces & Spreads 6.3.12. Pharmaceutical Products 6.3.13. Personal Care Products 6.3.14. Animal Nutrition 6.3.15. Animal Feed 6.3.16. Aquaculture 6.4. Y-o-Y Growth Trend Analysis By End Use Application, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By End Use Application, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Region, 2018 to 2022 7.3. Current Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Region, 2023 to 2033 7.3.1. North America 7.3.2. Latin America 7.3.3. Europe 7.3.4. East Asia 7.3.5. South Asia 7.3.6. Oceania 7.3.7. MEA 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 8.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 8.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 8.2.1. By Country 8.2.1.1.USA 8.2.1.2. Canada 8.2.2. By Product 8.2.3. By End Use Application 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Product 8.3.3. By End Use Application 8.4. Key Takeaways 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Argentina 9.2.1.4. Chile 9.2.1.5. Peru 9.2.1.6. Rest of Latin America 9.2.2. By Product 9.2.3. By End Use Application 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Product 9.3.3. By End Use Application 9.4. Key Takeaways 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. Italy 10.2.1.3. France 10.2.1.4. United kingdom 10.2.1.5. Spain 10.2.1.6. Russia 10.2.1.7. BENELUX 10.2.1.8. Poland 10.2.1.9. Nordic Countries 10.2.1.10. Rest of Europe 10.2.2. By Product 10.2.3. By End Use Application 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Product 10.3.3. By End Use Application 10.4. Key Takeaways 11. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. China 11.2.1.2. Japan 11.2.1.3. South Korea 11.2.2. By Product 11.2.3. By End Use Application 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Product 11.3.3. By End Use Application 11.4. Key Takeaways 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Thailand 12.2.1.3. Malaysia 12.2.1.4. Indonesia 12.2.1.5. Singapore 12.2.1.6. Rest of South Asia 12.2.2. By Product 12.2.3. By End Use Application 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Product 12.3.3. By End Use Application 12.4. Key Takeaways 13. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. Australia 13.2.1.2. New Zealand 13.2.2. By Product 13.2.3. By End Use Application 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Product 13.3.3. By End Use Application 13.4. Key Takeaways 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 14.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. South Africa 14.2.1.3. Central Africa 14.2.1.4. North Africa 14.2.2. By Product 14.2.3. By End Use Application 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Product 14.3.3. By End Use Application 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1.USA 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2022 15.1.2.1. By Product 15.1.2.2. By End Use Application 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2022 15.2.2.1. By Product 15.2.2.2. By End Use Application 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2022 15.3.2.1. By Product 15.3.2.2. By End Use Application 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2022 15.4.2.1. By Product 15.4.2.2. By End Use Application 15.5. Argentina 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2022 15.5.2.1. By Product 15.5.2.2. By End Use Application 15.6. Chile 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2022 15.6.2.1. By Product 15.6.2.2. By End Use Application 15.7. Peru 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2022 15.7.2.1. By Product 15.7.2.2. By End Use Application 15.8. Germany 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2022 15.8.2.1. By Product 15.8.2.2. By End Use Application 15.9. Italy 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2022 15.9.2.1. By Product 15.9.2.2. By End Use Application 15.10. France 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2022 15.10.2.1. By Product 15.10.2.2. By End Use Application 15.11. Spain 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2022 15.11.2.1. By Product 15.11.2.2. By End Use Application 15.12. United kingdom 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2022 15.12.2.1. By Product 15.12.2.2. By End Use Application 15.13. Russia 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2022 15.13.2.1. By Product 15.13.2.2. By End Use Application 15.14. Poland 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2022 15.14.2.1. By Product 15.14.2.2. By End Use Application 15.15. BENELUX 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2022 15.15.2.1. By Product 15.15.2.2. By End Use Application 15.16. Nordic Countries 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2022 15.16.2.1. By Product 15.16.2.2. By End Use Application 15.17. China 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2022 15.17.2.1. By Product 15.17.2.2. By End Use Application 15.18. Japan 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2022 15.18.2.1. By Product 15.18.2.2. By End Use Application 15.19. South Korea 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2022 15.19.2.1. By Product 15.19.2.2. By End Use Application 15.20. India 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2022 15.20.2.1. By Product 15.20.2.2. By End Use Application 15.21. Thailand 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2022 15.21.2.1. By Product 15.21.2.2. By End Use Application 15.22. Indonesia 15.22.1. Pricing Analysis 15.22.2. Market Share Analysis, 2022 15.22.2.1. By Product 15.22.2.2. By End Use Application 15.23. Malaysia 15.23.1. Pricing Analysis 15.23.2. Market Share Analysis, 2022 15.23.2.1. By Product 15.23.2.2. By End Use Application 15.24. Singapore 15.24.1. Pricing Analysis 15.24.2. Market Share Analysis, 2022 15.24.2.1. By Product 15.24.2.2. By End Use Application 15.25. Australia 15.25.1. Pricing Analysis 15.25.2. Market Share Analysis, 2022 15.25.2.1. By Product 15.25.2.2. By End Use Application 15.26. New Zealand 15.26.1. Pricing Analysis 15.26.2. Market Share Analysis, 2022 15.26.2.1. By Product 15.26.2.2. By End Use Application 15.27. GCC Countries 15.27.1. Pricing Analysis 15.27.2. Market Share Analysis, 2022 15.27.2.1. By Product 15.27.2.2. By End Use Application 15.28. South Africa 15.28.1. Pricing Analysis 15.28.2. Market Share Analysis, 2022 15.28.2.1. By Product 15.28.2.2. By End Use Application 15.29. North Africa 15.29.1. Pricing Analysis 15.29.2. Market Share Analysis, 2022 15.29.2.1. By Product 15.29.2.2. By End Use Application 15.30. Central Africa 15.30.1. Pricing Analysis 15.30.2. Market Share Analysis, 2022 15.30.2.1. By Product 15.30.2.2. By End Use Application 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Product 16.3.3. By End Use Application 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. Britannia 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments (Product/Age /Sales Channel/Region) 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.1.5.2. Product Strategy 17.1.1.5.3. Channel Strategy 17.1.2. Hindustan Unilever 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments (Product/Age /Sales Channel/Region) 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.2.5.2. Product Strategy 17.1.2.5.3. Channel Strategy 17.1.3. ITC 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments (Product/Age /Sales Channel/Region) 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.3.5.2. Product Strategy 17.1.3.5.3. Channel Strategy 17.1.4. Tata Soulfull 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments (Product/Age /Sales Channel/Region) 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.4.5.2. Product Strategy 17.1.4.5.3. Channel Strategy 17.1.5. Nestle 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments (Product/Age /Sales Channel/Region) 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.5.5.2. Product Strategy 17.1.5.5.3. Channel Strategy 17.1.6. True Elements 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments (Product/Age /Sales Channel/Region) 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.6.5.2. Product Strategy 17.1.6.5.3. Channel Strategy 17.1.7. Mayoora Foods 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments (Product/Age /Sales Channel/Region) 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.7.5.2. Product Strategy 17.1.7.5.3. Channel Strategy 17.1.8. Navan Foods, LLC. 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments (Product/Age /Sales Channel/Region) 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.8.5.2. Product Strategy 17.1.8.5.3. Channel Strategy 17.1.9. Sydler India Pvt. Ltd 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments (Product/Age /Sales Channel/Region) 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.9.5.2. Product Strategy 17.1.9.5.3. Channel Strategy 17.1.10. Cargill Inc. 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments (Product/Age /Sales Channel/Region) 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 17.1.10.5.2. Product Strategy 17.1.10.5.3. Channel Strategy 17.1.11. Others 17.1.11.1. Overview 17.1.11.2. Product Portfolio 17.1.11.3. Profitability by Market Segments (Product/Age /Sales Channel/Region) 17.1.11.4. Sales Footprint 17.1.11.5. Strategy Overview 17.1.11.5.1. Marketing Strategy 17.1.11.5.2. Product Strategy 17.1.11.5.3. Channel Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
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