The global millet seeds market was estimated at $10.1 billion in 2020 and is expected to hit $18.3 billion by 2030, registering a CAGR of 6.1% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Surge in demand for healthy foods, increase in the trend of veganism, and extensive use of millets in animal feed fuel the growth of the global millet seeds market. On the other hand, adulteration of millet seeds and presence of several other alternatives impede the growth to some extent. However, growing inclination toward having organic foods is expected to create lucrative opportunities in the industry.
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COVID-19 scenario-
There’s been an inflated demand for healthy foods during the pandemic, thereby boosting the global millet seeds market to some extent.
However, the pandemic deranged the export of millet to the western countries, but increased local demand in Asia-Pacific and Africa, which led to augmented sales.
The global millet seeds market is analyzed across type, nature, sales channel, and region.
Based on type, the pearl millet segment accounted for nearly three-fifths of the total market share in 2020, and is expected to rule the roost by 2030. The porso millet segment, however, would garner the fastest CAGR of 7.7% throughout the forecast period.
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Based on nature, the conventional segment contributed to 97% of the total market revenue in 2020, and is projected to lead the trail by 2030. The organic segment, however, would exhibit the fastest CAGR of 7.9% during the forecast period.
Based on region, the market across Asia-Pacific held the major share in 2020, garnering around half of the global market. Europe, on the other hand, would manifest the fastest CAGR of 7.3% throughout the forecast period.
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The key market players analyzed in the global millet seeds market report include Crystal Crop Protection Ltd., Soya UK Ltd., Delphi Organic GmbH, Eastern Colorado Seeds, Allied Seed, Hancock Seed & Company, Mirfak Pty Ltd, Nuts in Bulk, RR Agro Foods, and Mamta Hygiene Products Pvt Ltd. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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