According to a research report published by Spherical Insights & Consulting, the Global Millet-Based Product Market Size is Expected to Grow from USD 39.847 Million in 2023 to USD 93.19 Million by 2033, Growing at a CAGR of 8.87% during the forecast period 2023-2033.

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All around the world, millets, a collection of incredibly varied small-seeded grasses, are widely grown as cereal crops or grains. Millets are incredibly nutritious. Since millet products are gluten-free, low in GI (glycemic index), and high in B vitamins, calcium, iron, potassium, magnesium, and zinc, they are an excellent choice for people who have wheat allergies or intolerances. Millets are inherently sustainable crops since they use less water and fertilizer than other grains. Millet-based products are an excellent option for diabetics to lose weight. Agricultural practices, research and development initiatives to improve millet production, and focused marketing activities to promote millet-based products are all part of the millet-based product market. Products made from millet have been demonstrated to provide several advantages, such as a lower risk of diabetes, cancer, heart disease, and stroke. This is brought on by millet’s high fiber and antioxidant content, which increases the market for goods made from millet. Sustainability and environmental awareness are also driving demand for millet-based products. However, the general public is still unaware of and unaccepting of millet-based products, despite their growing popularity.

Browse key industry insights spread across 200 pages with 100 Market data tables and figures & charts from the report on the Global Millet-Based Product Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Millet-Based Snacks, Millet-Based Baked Goods, Millet-Based Beverages, and Others), By Demography (Kids and Adults), By Distribution Channel (Supermarket and Hypermarkets, Traditional Grocery Stores, Online Stores, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.

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The millet-based snacks segment is predicted to grow at the fastest pace in the global millet-based product market through the forecast period.

Based on the product type, the millet-based product market is classified into millet-based snacks, millet-based baked goods, millet-based beverages, and others. Among these, the millet-based snacks segment is predicted to grow at the fastest pace in the global millet-based product market through the forecast period. This is a result of increased awareness of millet’s nutritional benefits and its mouth-watering, crunchy chips and puffs. In areas such as North America and Europe, where consumers are growing more health concerned, this is particularly true.

The adult segment is anticipated to grow at the highest pace in the global millet-based product during the projected timeframe. 

Based on the demography, the millet-based product market is divided into kids and adults. Among these, the adult segment is anticipated to grow at the highest pace in the global millet-based product during the projected timeframe. This is because the adult sector offers millet-based goods that are suited to adult consumers’ dietary and nutritional demands. The adult sector, with its greater market size and wider range of product offerings, is frequently used and has the potential to significantly expand the global marketplace for millet-based products in the future as consumers continue to seek out convenient and nutrient-dense millet-based products.

The online stores segment is expected to hold the largest market share of the global millet-based product market through the projected period.

Based on the distribution channel, the millet-based product market is classified into supermarkets and hypermarkets, traditional grocery stores, online stores, and others. Among these, the online stores segment is expected to hold the largest market share of the global millet-based product market through the projected period. All of these distribution channels, and online store platforms have the biggest potential for growth because e-commerce is becoming more and more convenient for consumers. Online shopping is positioned as a significant distribution channel with significant development potential in the coming years, given the availability of millet-based products and the increasing propensity of consumers towards e-commerce.

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Asia Pacific is estimated to hold the largest share of the millet-based product market over the forecast period.

Asia Pacific is estimated to hold the largest share of the millet-based product market over the forecast period. The growing demand for gluten-free products and rising health consciousness have given the region a significant market share. Government initiatives such as the Millet Mission in India and the integration of millets into public distribution networks continue to support the industry’s growth. With its strong cultural ties to millet and the ongoing support of the government, the Asia-Pacific region is expected to maintain its leading position in the market for millet-based products.

North America is predicted to grow at the fastest pace in the millet-based product market over the forecast period. The availability of innovative millet-based cereals and snacks, as well as consumer awareness of the nutritional benefits of millets, are expected to drive the worldwide millet-based product market to become one of the important areas in the near future. Additionally, the expanding popularity of better living options including natural and gluten-free diets.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global millet-based products along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.Major key players in the millet-based product market include Bliss Tree, Coastal Foods, FirmRoots Private Limited, ITC Limited, Marico, Quaker Oats Company, Slurrp Farms, Swiss Bake Ingredients Pvt. Ltd., Tata Consumer Soulfull Pvt. Ltd., Urban Millets Pvt. Ltd., and Urban Monk Private Limited, and Others.

Recent Developments

• In November 2022, to promote millet in the global market, the Indian government created a five-year strategic strategy. To grow domestic export millets globally, the plan called for the participation of Indian missions overseas as well as international retail stores such as Carrefour, Walmart, Al Ruya, Lulu Group, etc.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the millet-based product market based on the below-mentioned segments:

Global Millet-Based Product Market, By Product Type

• Millet-Based Snacks
• Millet-Based Baked Goods
• Millet-Based Beverages
• Others

Global Millet-Based Product Market, By Demography

• Kids
• Adults

Global Millet-Based Product Market, By Distribution Channel

• Supermarket and Hypermarkets
• Traditional Grocery Stores
• Online Stores
• Others

Global Millet-Based Product Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company’s mission is to work with businesses to achieve business objectives and maintain strategic improvements.

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