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Global Millet Industry Report: Analysis and Forecast 2022-2027

3 Mins read

Global Millet Industry Report: Analysis and Forecast 2022-2027

Regional Category Spend, Primary Demand, Price Analysis and Indicators, and Best Buying Practices of the Millet Industry Report

The global Millet industry achieved a volume of 33.35 MMT in 2021. In the projection period of 2022-2027, the industry is expected to grow at a CAGR of around 1.7 percent, attaining a volume of around 36.82 MMT by 2027.

The Millet industry report broadly studies the industry, together with important segments, movements, drivers, constraints, the competitive landscape, and other critical market features.

The industry’s key driving forces include unstable rice production, increased health consciousness, and the rapid development of internet sales channels. The Asia Pacific is the biggest category spender by region which is impelling the demand for the Millet industry.

Millet: Industry Definition and Segmentation

Scope

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The millet industry report comprises segments by:

  • Product Type: Pearl millet, Foxtail Millet, Sorghum, Finger Millet, and others
  • Geography: North America, Europe, the Asia Pacific, Latin America, the Middle East, and Africa
  • Distribution Channel: Modern Trade, Specialty Stores, Convenience stores, Traditional Grocery Stores, online stores, and others.
  • Application: Flour, Direct Consumption, Bakery Products, Alcoholic Beverages, Non-Alcoholic Beverages, Breakfast Foods, Fodder, and Others

Snapshot of the Report

The regional market for the Cassava industry can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East, and Africa.

Read Full Report with Table of Contents: – https://www.procurementresource.com/reports/millets-procurement-report

Category Drivers

  • The millets market will be driven by an increase in millet production and water efficiency during the next few years. The gluten-free property of millets is expected to increase the profit potential of gluten-free and low-GI foods.
  • The global expenditure on weight loss has increased. People are trying to eat healthier foods. This momentum, along with the availability of healthy nutritional options like millets, has created a potential market for this sector.
  • The introduction of eCommerce platforms has tempted several industries to offer their products online. As a result, online competition is heating up. Furthermore, the expenses of internet dissemination are substantially lower. These promotions are encouraging more individuals to shop online.

Category Insight by Region

  • Africa accounts for 41% of the worldwide market. Millet’s prominence as a food staple in India has declined in recent decades because of a variety of factors such as increased income, urbanisation, and government policy.
  • More than half of millet production, however, will be used for other reasons rather than as a staple. Geographically, practically all millet cultivars are grown in the Asia Pacific and Africa. According to the FAO, the top five product-growing countries were Nigeria, India, Mali, China, and Niger.
  • India has the most important global production volume, although Mali, Nigeria, and Niger are mostly Sub-Saharan African countries that have been growing the grains for decades. The arid climatic zones of African countries are suited for millet growing.

Best Procurement Practices

The Procurement Resource’s global Millet industry report gives an extensive analysis of the best buying practices followed by Millet supplying and consuming regions around the world, including engagement models, buyer, and supplier negotiation levers, and contract terms among others.

Category Management Analyses

The prominent companies in the market Millet are Cargill, Inc., Archer Daniels Midland Company, Wise Seed Company, Inc., E.I. DuPont De Nemours and Company, Bayer Crop Science AG, Ernst Conservation Seeds, Brett-Young Seeds Limited, and Roundstone Native Seed Company.

The industry report contains mergers and acquisitions, plant shutdowns, investments/divestments, capacity additions, and other latest developments in the market.

Also Check Other Industry Reports

We Provide Lots of Industries Reports With Full Analysis, For That You Should Visit Our Procurement Resource Website, Apart From This, We Also Provide the Latest Price Trends of Various Products Including DAP Price, Sunflower Seed Price and Chloroform Price.

About Us:

Procurement Resource ensures that our clients remain at the vanguard of their industries by providing actionable procurement intelligence with the help of our expert analysts, researchers, and domain experts. Our team of highly seasoned analysts undertake extensive research to provide our customers with the latest and up-to-date market reports, cost-models, price analysis, benchmarking, and category insights, which aid in simplifying the procurement process for our clientele.

We work with a diverse range of procurement teams across industries to get real-time data and insights that can be effectively implemented by our customers. We also track the prices and production costs of an extensive range of goods and commodities, thus, providing you with the updated and reliable data.

We, at Procurement Resource, with the help of the latest and cutting-edge techniques in the industry, help our clients understand the supply chain, procurement, and industry climate, so that they can form strategies which ensure their optimum growth.

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