World Millets Market Report 2021: Compound Annual Growth of 2.33% Forecast During 2021-2027
DUBLIN, Dec. 29, 2021 /PRNewswire/ -- The "Millets Market Size, Share, Global Forecast 2021-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The growing inclination of the urban population towards healthy food coupled with the increasing unsustainable rice and wheat production will drive millet product demand during the forecast period. Opting towards keeping healthy meals to boost immunity, people shifted from having junk foods to eating notorious rich superfoods like millets and derivatives. The rise in consumers demands towards having millets as a healthy option is expected to rise during the forecast period
Global Millets Market Size was US$ 10.3 Billion in 2021
The millet industry is segmented into bakery products, infant food, breakfast food, Beverages, fodder, and others. Millets based infant meals such as porridge is excellent for infant trade growth and will aid in reducing the occurrence of malnutrition in babies and infants. Bakery goods, including packaged wafers, are gradually gaining importance because of their easy accessibility throughout traditional grocery stores, supermarkets and e-commerce sites worldwide
Asia-Pacific is anticipated to retain its position of being the most Significant Region for Millets
Millets play an essential role in food security and the economy in Asia- Pacific. India has the highest millet production globally; India produces all varieties of millets products and processes forms, which are gaining attention from its urban population. Moreover, millets are gaining prominence in Europe and North America due to their breakfast use; it is attributed to the increasing demand for fibre-rich, gluten-free, and hypoglycemic food products among health-conscious consumers
COVID-19 Impact on Worldwide Millet Market
COVID-19 impacted the millet market in negative ways. Counting the negative side, due to the pressure of repeated lockdowns, the business witnessed a disruption in the labor shortage, supply chain, shutting of small processing units, etc. Since India has the highest millet production globally, there was a severe lockdown in India in 2020. Due to this, millet exports from India suffered a bit for the year 2020. However its forecast looks bright for the future.
Key Market Players Continue Focusing on Empowering the Industry Positioning
Companies operating in the millets market such as Archer Daniels Midland Company, Cargill, Bayer Crop Science AG, Nestle S.A., NH Foods Ltd are focusing on offering services that drive business growth and enhance customer experience. As per the research findings, the Global Millets Market will grow with a CAGR of 2.33% during 2021-2027.
This report is segmented as follows:
Product Type
1. Organic
2. Regular
Application
1. Infant Food
2. Bakery Product
3. Breakfasts
4. Beverages
5. Fodder
6. Others
Distribution Channels
1. Trade Associations & organizations
2. Supermarkets
3. Traditional Grocery Stores
4. Online Stores
5. Others
Region
1. North America
2. Europe
3. Asia-Pacific
4. Middle East & Africa
5. South Africa
Company Analysis
- Archer Daniels Midland Company
- Cargill
- Bayer Crop Science AG
- Nestle S.A.
- NH Foods Ltd
For more information about this report visit https://www.researchandmarkets.com/r/xpau9m
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