Millet Seeds Market Report
Millet Seeds Market by Type (Pearl Millet, Finger Millet, Proso Millet, Foxtail Millet, and Others), Sales Channel (Specialty Stores, Online Channels, and Others), and Regional Analysis (Asia-Pacific, LAMEA, and Rest of the World): Global Opportunity Analysis and Industry Forecast, 2021–2028
Global Millet Seeds Market Analysis
The global millet seeds market size is predicted to garner $551,469.70 thousand in the 2021–2028 timeframe, growing from $350,000.00 thousand in 2020, at a healthy CAGR of 6.00%.
Strategic alliances among market players, along with growing demands for millet seeds across the globe, are expected to accelerate the growth of the millet seeds market.
However, higher cost of millet seeds products is one of the growth-restricting factors for the market.
According to the regional analysis, the Asia-Pacific millet seeds market size is anticipated to grow during the review period and generate a revenue of $273,529.00 thousand, with CAGR of 6.00%, due to increasing adoption of staple food in the region.
Millet Seeds Overview
Millet seeds are the cereal grains that are mostly grown in Africa and Asia region. Also, millets require comparatively very less amount of water for growth as compared to other cereals such as wheat, rice, and others. Millets are very rich in nutrition such as calcium, proteins, fibre, vitamins, and minerals that are beneficial for human nourishment.
Covid-19 Impact on Millet Seeds Market Shares
The novel coronavirus pandemic had a devastating effect on several industries. The global millet seeds market experienced a moderate growth during this period. Millet seeds market growth was affected due to restrictions in inter-state movements along with disruption of transportation and food supply chains and therefore affected the farm operations throughout the pandemic. Also, India is the largest producer of millet seeds and disrupted Indian agricultural system is one of the factors that decreases the market for millet seeds.
On the other hand, there are many countries that are working dedicatedly to support farmers in pandemic times for producing millet seeds in the region. For instance, according to a news published by The Indian Express, in September 2020, people are adopting millets for boosting up their immunity levels as millets are gluten-free and rich in proteins & fiber. In addition to this, growing adoption of organic millet seeds is also one of the factors that can increase the adoption of millet seeds. The above-stated factors show that the pandemic may positively affect the growth of the market and it will ultimately increase the sustainable opportunities for millet seeds market in the coming years.
Increasing Prevalence of Gluten-Free food among the Health-Conscious Consumers to Surge the Market Growth
The global millet seeds industry is witnessing a massive growth mainly due to increasing adoption of gluten-free food among the diabetic people as millets have low-glycemic index that can slow down the sugar release in the blood. Also, millets have rich nutritional content for maintaining a healthy life. These will help people that are suffering from chronic diseases such as obesity, diabetes, and heart diseases. All such aspects may boost expansions to fuel growth of the global millet seeds market.
Furthermore, according to an article published by NDTV, Indian news media company, in November 2021, millets can regulate the blood sugar levels and reduce the risk of developing type-2 diabetes and therefore it is considered as one of the best diabetic diet foods. These types of factors are predicted to drive the growth of the market.
To know more about global millet seeds market trends, drivers, get in touch with our analysts here.
High Cost of Millet Seeds Products to Restrain the Market Growth
Millet seeds products are very costly in many countries that can restrain the global market growth. Also, millets are always advised to consume in moderate quantity; higher consumption can affect the health and slowdown the digestion due to high fiber content. These are some of the factors anticipated to hinder the market value of the millet seeds in the next few years.
Nutraceutical Health Benefits of Millets to Create Massive Investment Opportunities
The global millet seeds market is spreading at a very fast pace due to its associated health benefits such as improves the function of digestive system, reduces cholesterol, preserves heart disease, protects against the diabetes, lowers down the risk of cancer, increases the levels of energy, and also improves the muscular system. Moreover, technological advancements such genetically modified seeds and product innovations are some of the factors that are positively affecting the millet seeds market growth.
Furthermore, according to research article published by ResearchGate, a Europe based social networking site for researchers and scientists to share papers, in January 2021, millets are the best food for small farmers as it is the only source of livelihood for them. Millets are one of the best sources of protein or fiber; therefore, making them as high-energy food. All such aspects may further lead to lucrative market opportunities for key players in the upcoming years.
To know more about global millet seeds market trends, opportunities, get in touch with our analysts here.
Millet Seeds Market
Source: Research Dive Analysis
The pearl millet type sub-segment is predicted to have a dominating share as well as fastest market growth in the global market. The sub-segment is expected to register a revenue of $417,600.30 thousand during the forecast period. Pearl millet is considered as the best plant-based protein source across the Asian and African countries. Also, pearl millet is used as baby food due to its nutritional content along with its usefulness in treating iron deficiency due to anemia. These factors and strategic alliances may bolster the growth of the sub-segment during the forecast period and increase the millet seeds market demand.
Millet Seeds Market
By Sales Channel
Source: Research Dive Analysis
The specialty stores sub-segment of the global millet seeds market growth is projected to have the dominant share as well as fastest growth. It is also projected to surpass $15,046.10 thousand by 2028, with an increase from $8,106.80 thousand in 2020. This growth in the market can be attributed to growing demand for brands within the category of millets. Specialty stores of millets or any other goods can sell selective items of particular brands for consumers, and they are primarily focusing on high customer satisfaction. All such elements may increase the demand for sub-segment and millet seeds market demand.
Millet Seeds Market
Source: Research Dive Analysis
The Market for Millet Seeds in Asia-Pacific to be the Most Dominant
The Asia millet seeds market accounted $173,250.00 thousand in 2020 and is projected to register a revenue of $273,529.00 thousand by 2028. The extensive growth of the Asia-Pacific millet seeds market is because of the presence of Asian countries such as India, the largest producer of millets, and also, in Asian countries millets are considered as the staple food. Moreover, growing trends of healthy foods among urban population along with favorable government initiatives to produce millets are some of the factors that are fueling the market growth across the globe. Furthermore, according to UN General Assembly, that is sponsored by India and supported by 70 nations, they declared 2023 as “International Year of Millets”, and the main aim of this declaration is to create awareness about the benefits of grains. These factors will ultimately drive the demand for the millet seeds market across the region.
The Market for Millet Seeds in Rest of the World to be the Fastest Growing
The share of Rest of the World millet seeds market is expected to rise at a CAGR of 7.20%, by registering a revenue of $33,088.20 thousand by 2028. The growth shall be a result of rising demand for gluten free foods among the health-conscious consumers. Also, the presence of obese and diabetic people in the North America and Europe regions is one of the factors fueling the market for Rest of the World millet seeds across globe. Such aspects may bolster the demand for millet seeds market in the upcoming years.
Competitive Scenario in the Global Millet Seeds Market
Product launches and mergers & acquisitions are common strategies followed by major market players.
Source: Research Dive Analysis
Some of the leading millet seeds market players are Allied Seed, LLC, Crystal Crop Protection Pvt. Ltd., Eastern Colorado Seeds, LLC, Mirfak Pty Ltd, Nuts in Bulk, RR Agroflorestal LTDA, BRAHMA STRAtegies Pvt Ltd, DUGAD Agro Foods, Treta Agro (P) Ltd, and Sresta Natural Bioproducts Pvt Ltd.
Porter’s Five Forces Analysis for the Global Millet Seeds Market:
- Bargaining Power of Suppliers: The product suppliers of millet seeds market are high in number and are larger and more globalized. So, there will be less threat from the suppliers.
Thus, the bargaining power of suppliers is low.
- Bargaining Power of Buyers: Buyers have high buying powers due to availability of different types of millets in cost effective deal. This has increased the pressure on the millet seeds providers to offer the best millet seeds products. This gives the buyers the option to freely choose millet seeds that best fit their preference.
Thus, the bargaining power of the buyers is high.
- Threat of New Entrants: Companies entering the millet seeds market are adopting various innovations such as developing millet seeds that are genetically modified and healthy.
Thus, the threat of the new entrants is moderate.
- Threat of Substitutes: There are different types of cereals available as a substitute for millet seeds, but they are not considered as gluten free food.
Thus, the threat of substitutes is moderate.
- Competitive Rivalry in the Market: The competitive rivalry among industry leaders is rather intense, especially between the global players Eastern Colorado Seeds, LLC and Crystal Crop Protection. These companies are launching their value-added services in the international market and strengthening the footprint worldwide.
Therefore, competitive rivalry in the market is high.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
Asia-Pacific, LAMEA, and Rest of the World
Segmentation by Type
Segmentation by Sales Channel
Key Companies Profiled
Q1. What is the size of the global millet seeds market?
A. The size of the global millet seeds market was over $350,000.00 thousand in 2020 and is projected to reach $5,51,469.70 thousand by 2028.
Q2. Which are the major companies in the millet seeds market?
A. Allied Seed, LLC and Crystal Crop Protection Pvt. Ltd. are some of the key players in the global millet seeds market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Rest of the World region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What will be the growth rate of the Asia-Pacific millet seeds market?
A. Asia-Pacific millet seeds market is anticipated to grow at 6.00% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. Technological development and strategic partnerships are the key strategies opted by the operating companies in this market.
Q6. What is the market price of millet?
A. The market price of millet is approximately USD 250-270 and varies according to brand.
Q7. Which brand of millet is best?
A. 24 Mantra Organic is one of the best brands of millet.
Q8. Who is the largest producer of millets?
A. Asia and Africa regions are the largest producers of millets.
Q9. What are the 5 different types of millets?
A. Pearl millet, finger millet, proso millet, foxtail millet, and small millet are the 5 different types of millets.
1.2.Real time insights and validation
1.4.Assumptions and forecast parameters
2.2.By type trends
2.3.By sales channel trends
3.1.Market segmentation & definitions
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis
3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market
3.8.Market value chain analysis
3.8.1.Stress point analysis
3.8.2.Raw sales channel analysis
3.8.4.Sales channel analysis
188.8.131.52.Raw sales channel suppliers
4.Millet Seeds Market, by Type
4.1.1.Market size and forecast, by type
4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region, 2020-2028
4.2.3.Market share analysis, by country 2020 & 2028
4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region, 2020-2028
4.3.3.Market share analysis, by country 2020 & 2028
4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast, by region, 2020-2028
4.4.3.Market share analysis, by country 2020 & 2028
4.5.1.Key market trends, growth factors, and opportunities
4.5.2.Market size and forecast, by region, 2020-2028
4.5.3.Market share analysis, by country 2020 & 2028
4.6.1.Key market trends, growth factors, and opportunities
4.6.2.Market size and forecast, by region, 2020-2028
4.6.3.Market share analysis, by country 2020 & 2028
5.Millet Seeds Market, by Sales channel
5.1.1.Market size and forecast, by Sales channel
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region, 2020-2028
5.2.3.Market share analysis, by country 2020 & 2028
5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region, 2020-2028
5.3.3.Market share analysis, by country 2020 & 2028
5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region, 2020-2028
5.4.3.Market share analysis, by country 2020 & 2028
6.Millet Seeds Market, by Region
6.1.1.Market size and forecast, by region
6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by type , 2020-2028
6.2.3.Market size and forecast, by Sales channel , 2020-2028
6.2.4.Market size and forecast, by country, 2020-2028
184.108.40.206.Market size and forecast, by type , 2020-2028
220.127.116.11.Market size and forecast, by Sales channel , 2020-2028
18.104.22.168.Market size and forecast, by type , 2020-2028
22.214.171.124.Market size and forecast, by Sales channel , 2020-2028
126.96.36.199.Market size and forecast, by type , 2020-2028
188.8.131.52.Market size and forecast, by Sales channel , 2020-2028
184.108.40.206.Market size and forecast, by type , 2020-2028
220.127.116.11.Market size and forecast, by Sales channel , 2020-2028
18.104.22.168.Market size and forecast, by type , 2020-2028
22.214.171.124.Market size and forecast, by Sales channel , 2020-2028
6.2.10.Rest of Asia-Pacific
126.96.36.199.Market size and forecast, by type , 2020-2028
188.8.131.52.Market size and forecast, by Sales channel , 2020-2028
6.3.Rest of World
6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by type , 2020-2028
6.3.3.Market size and forecast, by Sales channel , 2020-2028
6.3.4.Market size and forecast, by country, 2020-2028
184.108.40.206.Market size and forecast, by type , 2020-2028
220.127.116.11.Market size and forecast, by Sales channel , 2020-2028
18.104.22.168.Market size and forecast, by type , 2020-2028
22.214.171.124.Market size and forecast, by Sales channel , 2020-2028
6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by type , 2020-2028
6.4.3.Market size and forecast, by Sales channel , 2020-2028
6.4.4.Market size and forecast, by country, 2020-2028
126.96.36.199.Market size and forecast, by type , 2020-2028
188.8.131.52.Market size and forecast, by Sales channel , 2020-2028
184.108.40.206.Market size and forecast, by type , 2020-2028
220.127.116.11.Market size and forecast, by Sales channel , 2020-2028
18.104.22.168.Market size and forecast, by type , 2020-2028
22.214.171.124.Market size and forecast, by Sales channel , 2020-2028
7.1.Allied Seed, LLC,
7.1.2.Operating business segments
7.1.5.Recent strategic moves & developments
7.2.Crystal Crop Protection Pvt. Ltd.
7.2.2.Operating business segments
7.2.5.Recent strategic moves & developments
7.3.Eastern Colorado Seeds, LLC
7.3.2.Operating business segments
7.3.5.Recent strategic moves & developments
7.4.Mirfak Pty Ltd
7.4.2.Operating business segments
7.4.5.Recent strategic moves & developments
7.5.Nuts in Bulk
7.5.2.Operating business segments
7.5.5.Recent strategic moves & developments
7.6.RR Agroflorestal LTDA
7.6.2.Operating business segments
7.6.5.Recent strategic moves & developments
7.7.BRAHMA STRAtegies Pvt Ltd
7.7.2.Operating business segments
7.7.5.Recent strategic moves & developments
7.8.DUGAD Agro Foods
7.8.2.Operating business segments
7.8.5.Recent strategic moves & developments
7.9.Treta Agro (P) Ltd
7.9.2.Operating business segments
7.9.5.Recent strategic moves & developments
7.10.Sresta Natural Bioproducts Pvt Ltd
7.10.2.Operating business segments
7.10.5.Recent strategic moves & developments
Millet seeds are coarse grains that are majorly grown in Asia and Africa and is also a part of a staple diet of people residing in the regions. Millets are not harmed by severe climatic conditions and require relatively less amount of water for growth compared to other cereals such as rice, wheat, and others. Therefore, millets are prominent source of nutrition in geographical areas having tough climatic conditions especially in the southwestern and western African countries. Millet seeds are rich in nutrition such as of proteins, fiber, calcium, minerals, and vitamins which are beneficial for human nourishment.
COVID-19 Impact on Millet seeds Market
The outbreak of COVID-19 across the globe has moderately impacted the global millet seeds market growth. The moderate growth of the millet seeds market is majorly owing to closing of stores and disruptions in supply chain due to lockdown restrictions. Besides, various issues faced by major players across the industry, such as less availability of millets for manufacturing products and the decreased demand for millet seeds amid the pandemic, which is hugely impacting the global market.
However, several countries are taking initiatives to support farmers during the pandemic period. Additionally, many people are increasingly adopting healthy food habits throughout the pandemic to boost immunity. All these factors are projected to bring novel growth opportunities for the global millet seeds market.
Millet Seeds Market Trends and Developments
The companies operating in the global industry are adopting several growth strategies and business tactics such as partnerships, collaboration, business expansion, and product launches to obtain a leading position in the global industry, which is predicted to drive the global millet seeds market growth in the upcoming years.
For instance, in January 2020, Urban Millets Pvt Ltd., the Bengaluru-based manufacturer of millet products, launched its new brand namely, ‘Trumillets’ that includes an extensive range of healthy ready to cook products, millet Xpress, and healthy snacks for Indian consumers. The new range of products offers millet solutions through various millet premixes from Idli and Dosa mix, Pongal, Upma, Kesaribath, Murukku, Kheer, Chiwda, Poridges, and Smoothies.
In October 2021, Crystal Crop Protection Limited, the leading Indian R&D-based crop solution company, has entered into an agreement with Bayer in order to acquire Mustard, Cotton, Grain Sorghum, and Pearl Millet hybrids in India. The aim of the company is to stay true to their vision of inspiring growth of Indian farmers. The acquisition is a step forward for Crystal Crop to provide high-performance seeds for Indian agriculture’s sustainable growth.
Forecast Analysis of Global Market
The global millet seeds market is projected to witness an exponential growth over the forecast period, owing to the product innovations and technological advancements such as genetically modified seeds. Conversely, the high costs of millet seed products in many countries worldwide is expected to hamper the market growth in the projected timeframe.
The growing adoption of gluten-free food among the diabetic people and the nutraceutical health benefits of millets are the significant factors and millet seeds market trends estimated to bolster the growth of the global market in the coming future. According to a latest report published by Research Dive, the global millet seeds market is expected to garner $551,469.7 million during the forecast period (2021-2028). Regionally, the Asia-Pacific millet seeds market is estimated to observe dominant growth by 2028, owing to the presence of Asian countries such as India, which is the largest producer of millets, and also the growing trends of healthy foods among people in the region.
Key Players in the Global Millet Seeds Market
- Allied Seed, LLC,
- Crystal Crop Protection Pvt. Ltd.
- Eastern Colorado Seeds, LLC
- Mirfak Pty Ltd
- Nuts in Bulk
- RR Agroflorestal LTDA
- BRAHMA STRAtegies Pvt Ltd
- DUGAD Agro Foods
- Treta Agro (P) Ltd
- Sresta Natural Bioproducts Pvt Ltd.