World Millets Market value to surpass $12 billion by 2025: Global Market Insights, Inc.

Pearl segment of millets market accounted for the largest industry share in 2018 and expected to achieve moderate 3%+ CAGR from 2019 to 2025 driven by the cultivation and consumption pattern of the APAC region specially in India.

Selbyville, Delaware, June 10, 2019 (GLOBE NEWSWIRE) --

The Millets market is highly fragmented and has been witnessing participation from various producers and processors. FPOs and organic processors are operational in tapping into larger farmer base to increase millet production. Customer awareness programs from the government and international organization such as UN FAO shall fuel industry growth. Also, FAO has declared 2023 as international year of millets.

Millets are largely grown in Asia Pacific and West Africa, also known as Sub Saharan region. Asia Pacific, mainly India, accounted for over 45% of the overall millets demand in 2018. India is the largest producer of pearl millets followed by Nigeria and China. Massive demand in Asia Pacific is mainly due to emerging nutritional security issues in the region along with massive population. For instance, high nutritional value containing protein and rich dietary fibers, makes it an ideal part of vegetarian diet.

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Distribution channels play a vital role in value chain of millets market. FPOs and processors are engaged into supply agreements with farmers to bypass the traditional middlemen. They play greater role in proliferation of the various products in market. Supermarkets and traditional grocery stores are important channels in several Asian countries. Online E-commerce sites owned by either retailers or processors are also important kind of channel for reaching large consumer base and shall witness highest growth in developing regions.

Global Millets Market is set to cross USD 12 billion by 2025; according to a new research report by Global Market Insights, Inc. Unbalanced urban lifestyle and improper eating habits has resulted into number of ailments such as obesity, diabetes, high blood pressure and has given rise to cardiovascular diseases such as cardiac arrest, arrhythmia, coronary artery disease, etc. Additionally, the pollution and work-related stress are also responsible for feeble urban health. Rice and wheat, the common staple food is unable to provide the necessary nutrients. Millets have high proteins, mineral, carbohydrates, iron, fats and calcium contents. These are gluten-free, making them an excellent choice for the millions of people around the world who suffer from celiac diseases or have gluten sensitivity.

Rice & wheat are water intensive crops, that have put enough pressure on already scarce water resources. According to UN’s FAO data, agriculture takes share of about 70% of global water resources. Large use of water for growing rice and wheat makes its cultivation unsustainable. The product fulfills both, human nutrient requirements and is a sustainable solution for long term owing to its low water requirement.

Browse key industry insights spread across 453  pages with 1563 market data tables & 23 figures & charts from the report, “Millets Market Size Product (Organic [Pearl, Finger, Proso, Foxtail], Regular [Pearl, Finger, Proso, Foxtail]), By Application (Infant Food, Bakery Products, Beverages[Alcoholic, Non-Alcoholic], Breakfast Food, Fodder), By Distribution Channel (Trade Associations, Supermarket, Traditional Grocery Stores, Online Stores),Industry Analysis Report, Regional (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Indonesia, Australia, Argentina, Brazil, Mexico, Niger, Mali, Nigeria, Sudan, Rest of Africa, Middle East), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:

In 2018, pearl held highest share in terms of product volume in millets market and is likely to expand at more than 3% CAGR by 2025. Massive demand share of pearl millets is due to its rich nutritional value as it has 8 times higher iron content than rice. Finger millets are popular among several cultures and have demand from processors. Foxtail, proso and other millets are also rich in fiber, calcium and other minerals. Increasing fibrous food demand for breakfast meals in shall positively impact on the industry growth over the forecast timeframe. Thus, breakfast food accounted for over than 20% of the overall revenue generation for millets market in 2018.

A large volume of millet produced, is locally grown and consumed. The remaining produce is used to make beer, infant food and breakfast. It is a commonly used to make breakfast products such as flakes and cereals. Millet beer is popular in African culture and is also finding a market in countries such as India and the U.S.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.


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