Global Millet Seeds Market By Sales Channel (Specialty Stores, Hypermarket/ Supermarket and Other Channels), By Type (Pearl Millet, Finger Millet, Foxtail Millet, Proso Millet and Others), By Nature (Conventional and Organic), By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027
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Get in-depth analysis of the COVID-19 impact on the Millet Seeds Market
Market Report Description
The Global Millet Seeds Market size is expected to reach $13.5 billion by 2027, rising at a market growth of 7.6% CAGR during the forecast period.
Millets are small-seeded cereal crops which are popular for their large nutrition content. In addition, there are wide varieties of millet available across the world having varied colors like white, pale yellow, red, and gray. Considering the nutritional content, Millets have better nutritional values, when compared to extremely consumed cereals like rice and wheat. In the last few years, the growth and demand for millets have been increased due to the higher preference towards its consumption.
In addition, numerous initiatives have been taken to enhance the cultivation and consumption of millets in order to decrease the health issues such as obesity, diabetes, and cardiovascular diseases. Moreover, millets play a crucial role in various nations of Africa and Asia in terms of food security and economy. Additionally, they are becoming highly popular across Europe and North America due to their gluten-free and hypoglycemic properties.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has wreaked havoc on the lives of humans and the business operations of many companies. As a result, the focus on healthy and nutritious food products was increased among the consumers. This, in turn, had positively impacted the demand and growth of various healthy food products including millet seeds products during the pandemic period.
Therefore, the pandemic has positively impacted the growth of the millet seeds market. This is also attributed to the massive demand for healthy foods during the global pandemic. In addition, the outbreak of the COVID-19 pandemic brought disruptions in the export of millet to the western nations, but higher local demand in APAC and Africa resulted in massive sales of the products made of millet seeds. Moreover, the growing demand for natural and organic foods would further open new growth avenues for organic millets over the forthcoming years.
Market Growth Factors:
Growing demand for healthy and organic food products
With the dramatic shift in consumer preferences toward a healthy and nutritious diet that complements a sustainable, active, and healthy lifestyle and reduction on the dependency on animal proteins, the demand for healthy food products like millet seeds has been increased significantly in the last couple of years. In addition, a majority of the millennial population worldwide is willing to change their food habits from conventional animal-based products to organic and plant-based food products for maintaining a healthy lifestyle. This factor has created a massive demand for products made of millet seeds around the world.
Increase in cases of celiac disease and other food allergies
The growth and demand for millet seeds would increase with the surge in the prevalence of celiac disease or gluten intolerance across different countries worldwide. Gluten intolerance is considered as an autoimmune disorder, wherein the small intestine lining gets harmed and slows down the absorption of different types of nutrients available in the foods being consumed. Moreover, the consumption of gluten-free products like millet seeds and eliminating gluten-containing food items from the diet are some of the proven methods to reduce & cure celiac disease. This factor would play a crucial role in the demand and growth of the millet seeds market over the upcoming years.
Marketing Restraining Factor:
Absence of Appropriate Regulations & Standards And Difficulty In Adapting Such Food Products
The lack of availability and visibility of proper regulations with respect to dietary food supplements like millet seeds would pose a significant challenge for the key market players of this market. The manufacturers of these products do not have to prove the product’s safety or effectiveness. Thus, these factors would act as restraints for the demand and growth of the millet seeds market in the years to come.
There has been a shift among consumers towards gluten-free food products like millet seeds. In addition, sometimes it is hard for the individuals to adapt to such food products like millet seeds as they are quite different in flavor, taste, texture, and others. The key players operating in the market are facing different types of limitations creating a product that contains same kind of palatable texture, consistency, flavor, and taste in comparison with conventional gluten-containing products. Hence, these factors are anticipated to slow down the growth and demand for the millet seeds market during the forecasting period.
Based on the Type, the Millet Seeds Market is divided into Pearl Millet, Finger Millet, Proso Millet, Foxtail Millet, and Others. The pearl millets segment acquired a significant revenue share of the overall millet seeds market. As pearl millets are highly utilized and consumed around the world, after other different kinds of minor millets. This factor is expected to create more lucrative growth opportunities for the pearl millet segment during the forecasting period.
Based on Nature, the Millet Seeds Market is segregated into Conventional and Organic. In 2020, the conventional segment procured the maximum revenue share of the market. The organic segment would exhibit the highest growth rate during the forecasting period. Factors such as organic millets are totally natural, and pesticide-free would further drive the growth of the segment during the forecasting period.
Sales Channel Outlook
Based on the Sales Channel, the Millet Seeds Market is segmented into Hypermarket/Supermarket, Specialty Stores, and Online Channels. The specialty stores segment obtained the maximum revenue of the overall millet seeds market in 2020. Many consumers prefer the specialty stores to buy millet seeds and other sources of millet seeds, which would boost the growth of this segment during the forecasting period. Moreover, specialty stores are the leading and easily available kinds of stores to buy millet seeds.
|Market size value in 2020||USD 6.9 Billion|
|Market size forecast in 2027||USD 13.5 Billion|
|Historical Period||2017 to 2019|
|Forecast Period||2021 to 2027|
|Revenue Growth Rate||CAGR of 7.6% from 2021 to 2027|
|Number of Pages||187|
|Number of Tables||360|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Type, Nature, Sales Channel, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on the Region, the Millet Seeds Market is analyzed across North America, Europe, APAC, and LAMEA. In 2020, the APAC region emerged as the dominating region in the overall millet seeds market and the segment is likely to exhibit a similar kind of trend even during the forecasting period. This is due to the fact that millet seeds are a staple diet in several of the nations in the region. In addition, consumers in this region consume millet seeds in the form of flatbreads, desserts, sweets, and nonalcoholic beverages. Moreover, it has been grown in the region since earlier times, and there is a substantial export of millet seeds from this region to other parts of the world.
Free Valuable Insights: Global Millet Seeds Market size to reach USD 13.5 Billion by 2027
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Allied Seed, LLC, Crystal Crop Protection Private Limited, Delphi Organic GmbH, Eastern Colorado Seeds, LLC, Hancock Seed & Company, Mamta Hygiene Products Pvt Ltd., Mirfak Pty Ltd., NUTS IN BULK (Outlet Wholefood Company Ltd.), Alta Seeds (Advanta Seeds), and Soya UK Ltd.
Recent Strategies Deployed in Millet Seeds Market
- Oct-2021: Crystal Crop Protection signed a definitive agreement with Bayer, a German multinational pharmaceutical and life sciences company. Through this agreement, Crystal Crop Protection would acquire Cotton, Mustard, And Grain Sorghum Hybrids from Bayer India. Following the acquisition, Crystal would become strong in its field crops seed business as it comes with robust brands and R&D capabilities.
- Dec-2019: Crystal Crop Protection took over Dursban and Nurelle-D Predator Brands from Corteva Agriscience, a global Pure-Play Agriculture Company. The acquisition aimed to help Crystal Crop Protection to increase its competitiveness and diversify its product portfolio and bolster its market presence across India.
- Oct-2018: Advanta Seeds introduced igrowth, the first of its kind commercial weed control technology for grain sorghum. The new product has ownership of non-GMO imidazoline tolerance trait in sorghum which enables to spray imidazolinone herbicides for weed control with no damage to the crop and supporting a high yield and healthy crop.
- Mar-2018: Crystal Crop Protection completed the acquisition of Indian Grain Sorghum, Fodder Sorghum (SSG), And Pearl Millet Seeds Business from Syngenta India, a completely owned subsidiary of Syngenta Agribusiness Company. Through this acquisition, the company aimed to enhance its penetration in the Indian Grain Sorghum, Pearl Millet, And Fodder Seeds Business In India.
- Feb-2018: Crystal Crop Protection acquired the Speciality Chemical Manufacturing Facility Of Cytec India. Through this acquisition, the company aimed to improve its manufacturing capacities and include a new dimension to its business. Moreover, the acquisition would support 'Make In India' and bring advanced and affordable agrochemicals to farmers.
- Jan-2018: Advanta Seeds entered into a partnership with Texas A&M AgriLife Research, a premier research and technology development agency in agriculture, natural resources, and the life sciences headquartered at Texas. Through this partnership, the company established an ultra-modern biotechnology unit in College Station, Texas, USA. Through this facility, the company would discover new crop technologies to fulfill the challenges of an ever-growing global population.
Scope of the Study
Market Segments Covered in the Report:
By Sales Channel
- Specialty Stores
- Hypermarket/ Supermarket and
- Other Channels
- Pearl Millet
- Finger Millet
- Foxtail Millet
- Proso Millet and
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Allied Seed, LLC
- Crystal Crop Protection Private Limited
- Delphi Organic GmbH
- Eastern Colorado Seeds, LLC
- Hancock Seed & Company
- Mamta Hygiene Products Pvt Ltd.
- Mirfak Pty Ltd.
- NUTS IN BULK (Outlet Wholefood Company Ltd.)
- Alta Seeds (Advanta Seeds)
- Soya UK Ltd.
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What would be the size of the millet seeds market by 2027?
The millet seeds market size is projected to reach USD 13.5 billion by 2027.
What are the key driving factors and challenges in the millet seeds market?
Growing demand for healthy and organic food products are driving the market in coming years, however, Absence of Appropriate Regulations & Standards And Difficulty In Adapting Such Food Products limited the growth of the market.
What are the major top companies in the competitive landscape?
Allied Seed, LLC, Crystal Crop Protection Private Limited, Delphi Organic GmbH, Eastern Colorado Seeds, LLC, Hancock Seed & Company, Mamta Hygiene Products Pvt Ltd., Mirfak Pty Ltd., NUTS IN BULK (Outlet Wholefood Company Ltd.), Alta Seeds (Advanta Seeds), and Soya UK Ltd.
At what CAGR is the millet seeds market estimate to grow in the forecast period?
The expected CAGR of the millet seeds market is 7.6% from 2021 to 2027.
Has COVID-19 impacted the millet seeds market?
Yes, the outbreak of the COVID-19 pandemic brought disruptions in the export of millet to the western nations, but higher local demand in APAC and Africa resulted in massive sales of the products made of millet seeds.
Which segment dominated the millet seeds market in 2020?
The Specialty Stores market dominated the Global Millet Seeds Market by Sales Channel in 2020, growing at a CAGR of 7.3 % during the forecast period.