According to a new report published by Allied Market Research, titled, “Millet Seeds Market by Type, Nature, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global millet seedsmarketsize was valued at $10.1 billion in 2020, and is projected reach $18.3 billion by 2030, registering a CAGR of 6.1% from 2021 to 2030.
The current generation of consumers, especially the millennials and gen z, are adopting foods that are healthier and nutritious. More focus is given on healthy eating habits and balanced diets to gain the most nutritional benefits for the body. Millets are some of the most nutritious food grains and seeds available. They are high in all macro nutrients and low in carbohydrates. They also have high fiber content, which facilitates good gut health and increased metabolism. Millet seeds also contain large amounts of vitamins, minerals, and calcium which help improve bone density as well as provide the body with enough nutrition to have healthy bodily functions and avoid diseases. A larger number of consumers across the world are becoming aware regarding the health benefits of millet seeds, and thus the use of millet seeds to supplement a healthy diet is rapidly increasing.
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Adulteration is a process in which the quality of a commodity or food is reduced by addition of other substances in to the commodity or food. Adulterated food can cause harm to a lot of people as they may contain chemicals or substances that may be harmful or unfit for human consumption. Millet seeds are also adulterated either to increase the weight of the millets seeds being sold, or to make them appear better in appearance. On of the ways of adulteration of millet seeds is the addition of Rhodamine-B to finger millet as determined by FSSAI, which stands for Food Safety and Standards Authority of India. Rhodamine-B is a type of chemical xanthene dye, which is added to finger millets to provide a more vibrant color to the millet seeds. Consumption of this dye by humans can cause gastrointestinal problems, vomiting, diarrhea, respiratory tract irritation, and eye irritation. Similarly, many other chemicals can be added to millet seeds that reduce their quality. Such adulteration negatively impacts poses a major challenge for the engaged stakeholders.
The global millet seeds market is studied across Asia-Pacific, Africa, Europe, and Rest of World. Asia Pacific and Africa lead in terms of market share for 2020, While Europeis forecasted to grow with significant growth during the forecast period owing to growing demand for healthy foods, extensive advertising and promotion, and large scale veganism. Indiaalong with China and western African countries is likely to witness increased demandof millet seeds in the coming years.
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The global report is studied on the basis of type, nature, and sales channel. . Based on type, the global market is bifurcated into pearl millet, finger millet, proso millet, foxtail millet, and others. By nature, the market is segmented into conventional and organic. Based on sales channel the global market is studied across hypermarket/supermarket, specialty store, and others.
Key Findings Of The Study
By type, pearl millets hold the major market share, while the prose millets are expected to grow with the highest CAGR during the forecast period.
By nature, conventional millet seeds capture the majority of the market share, however, organic millet seeds will have a positive growth.
By sales channel, specialty stores are the major source of purchase of millets seeds, and other sources of millet seed purchase will witness the highest growth.
By region, Asia-Pacific is the largest producer of millets followed by Africa, and Europe will witness a major growth in the utilization of millet seeds.
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Some of the major players profiled for in the millet seeds market analysis include Allied Seed, Crystal Crop Protection Ltd., Delphi Organic GmbH, Eastern Colorado Seeds, Hancock Seed & Company, Mamta Hygiene Products Pvt Ltd, Mirfak Pty Ltd, Nuts in Bulk, RR Agro Foods, and Soya UK Ltd. Other prominent players analyzed in the report are Alta Seeds, Bayer, CortevaAgriscience, and Johnston Seed Company.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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