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Millet Market Growth, Share, Demand and Forecast 2024-2032

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IMARC Group's report titled "Millet Market by Product Type (Pearl Millet, Finger Millet, Proso Millet, and Others), Application (Infant Food, Bakery Products, Beverages, and Others), Distribution Channel (Supermarket and Hypermarkets, Traditional Grocery Stores, Online Stores, and Others), and Region 2024-2032", The global millet market size reached US$ 12.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 18.6 Billion by 2032, exhibiting a growth rate (CAGR) of 4.14% during 2024-2032. For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/millet-market/requestsample Factors Affecting the Growth of the Millet Industry: The increasing focus on health and wellness among consumers is contributing to the market growth. Millets are rich in essential nutrients, such as vitamins, minerals, fiber, and antioxidants, making them a popular choice for health-conscious individuals. Their low glycemic index helps in managing diabetes, and their high fiber content aids in digestion and weight management. People are becoming more aware about the adverse effects of processed foods and seek natural and whole-grain alternatives. Besides this, health campaigns and nutritional research further highlight these benefits, reinforcing the perception of millet as a superfood. Millets are highly valued for their climate resilience and adaptability to adverse environmental conditions. They thrive in arid and semi-arid regions where other crops struggle, making them crucial for food security in drought-prone areas. The low input requirements of millets, including minimal need for water, fertilizers, and pesticides, benefit in reducing the cost burden on farmers while promoting sustainable agricultural practices. These attributes make millets a viable crop choice in the face of climate change, where unpredictable weather patterns threaten traditional crop yields. By encouraging millet cultivation, agricultural policies can enhance resilience against climate-related disruptions. Advancements in food processing technology assist in enabling the development of a diverse range of millet-based products, including snacks, breakfast cereals, and beverages. This product diversification caters to varying consumer preferences, ranging from ready-to-eat (RTE) options to ingredients for home cooking. In addition, the incorporation of millet into mainstream food products addresses the growing demand for gluten-free and plant-based alternatives, appealing to health-conscious consumers and those with dietary restrictions. Besides this, innovations in agricultural technology, breeding techniques, and farming practices assist in enhancing the efficiency and productivity of food production. Leading Companies Operating in the Global Millet Industry: Millet Market Report Segmentation: By Product Type: Pearl millet represents the largest segment as it is rich in nutrients, such as protein, fiber, vitamins, and minerals. By Application: Infant food holds the biggest market share on account of the rising focus on maintaining the enhanced health of babies. By Distribution Channel: Traditional grocery stores account for the largest market share due to the wide availability of food products in one place. Regional Insights: Asia Pacific enjoys a leading position in the millet market, which can be attributed to the favorable agro-climatic conditions for millet cultivation. Global Millet Market Trends: Governing agencies of various countries are implementing subsidies and support programs to promote millet cultivation. These policies include financial incentives for farmers, research funding for crop improvement, and public distribution schemes to increase millet availability. In addition, the wide availability of millets through numerous distribution channels, such as supermarkets, hypermarkets, and convenience and online stores, is bolstering the market growth. These stores provide a diverse range of millet products and cater to the diverse needs and preferences of consumers. People are increasingly preferring online stores due to their enhanced accessibility and convenience. Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization. About Us: IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise. Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations. Contact US IMARC Group 134 N 4th St. Brooklyn, NY 11249, USA Email: sales@imarcgroup.com Tel No:(D) +91 120 433 0800 United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163