Millets Market 2019-2025 | driven by Increasing health consciousness among urban population
Category: #business  By Partha Ray  Date: 2019-09-10
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Millets Market 2019-2025 | driven by Increasing health consciousness among urban population

Global Market Insights, Inc. has launched a report on Millets Market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.

 Increasing interest in reviving the consumption of millets across various geographies is favoring the growth prospects of millets market in recent years. Millets have the ability to survive in harsh climatic conditions and are known to provide high nutrition value and better health. A number of initiatives are also being undertaken by the countries toward enhancing millet cultivation and consumption to reduce health risks caused due to diabetes, obesity, cardiovascular diseases. Unified approaches among millet suppliers and food and beverage manufacturing companies to fulfil the demand of millets has been crucial to proliferate the millets industry size.

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Growing inclination towards urban lifestyle has led to unhealthy diet habits and sedentary lifestyle, which is increasing the number of diabetic patients. The occurrence of diabetes is gradually rising, for instance, around 12.2% of the U.S. population aged 18 years or older was affected with the ailment in 2015. Diabetes is considered as the seventh leading cause of death across the world, with doctors striving to find its permanent cure.

Doctors are increasingly urging diabetic patients to consume millets to control blood sugar levels. Millets possess many properties making them a good dietary option for diabetics. In light of their benefits, millets hold a key to the well-being for those who suffer from diabetes and those that are at risk of developing the ailment. The demand of millets is likely to increase among diabetic patients which will be beneficial for augmenting millets market share.

From curing diabetes to fulfilling nutritional requirements in infants, millets have numerous nutritional properties. Due to its smooth texture, babies can easily digest it which makes millets a reliable option for infants. Millets also have calcium, iron and fibers which helps to fortify essential nutrients for healthy growth of a child.

Usage of millets in infant food and nutrition products is increasing and many millet manufacturers are expanding their business operations by acquiring smaller firms. For an instance, in the year 2017, Reckitt Benckiser (RB) acquired Mead Johnson Nutrition Company to expand its nutrition business. The transaction catapulted RB to a global market leadership position in consumer health and hygiene. Such acquisitions show the growing millet usage in baby food, which is likely to foster millets industry share.

Besides the use of millets in food products, it has also found usage in beverages like beer. Gluten-free beers are specially produced for individuals focused on reducing their gluten intake or diagnosed with celiac disease or a gluten intolerance so that they can enjoy beer without severely affecting their health. Breweries have started to add gluten-free beer option to increase their consumer base.

For instance, a Pune-based microbrewery Great State Ale Works has begun brewing beer with pearl millet, sorghum and finger millet to offer new tastes and popularize millets. The company has tied-up with an NGO named Happy Roots which works with farmers in Maharashtra. The tie up was anticipated to not only provide it with millets but also help with the malting process. Essentially, this new concept of gluten-free beer is becoming popular among breweries, which has led to increased production of gluten-free grains and has favored the expansion of millets industry size.

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Numerous developing nations and federal governments are framing long-term policies to roll out nutrition programs aimed at tackling the menace of malnutrition. For instance, the Governor of Maharashtra recently convened a meeting to formulate a policy for cultivation and promotion of nutri-cereals. He explained the need to have a policy in place for addressing the issue of malnutrition and other lifestyle diseases, especially in the scheduled areas of the state.

In this context, consumption of millets by children in the scheduled areas of Maharashtra would be crucial in reducing the prevalence of malnutrition in the state, as they are good source of beta-carotene and B vitamins especially riboflavin, niacin, and folic acid. It has to be noted that Maharashtra is a surplus state in terms of production of nutri-cereals, apart from Madhya Pradesh and Andhra Pradesh in India.

According to the Agriculture Commissioner of India, the government would invest in promotional activities to increase the production and consumption of millets in the nation. India is the largest producer of pearl millets followed by China and Nigeria and was the foremost country to account for more than 45% of the overall demand of millets in APAC region in the year 2018. Needless to mention, the efforts being made by governments of a fast-growing nation like India would help the regional millets market trends to flourish in the times to come.

Taking into account yet another regional initiative, the Government of Niger announced that it is promoting the production and consumption of millets in the country during the inaugural ceremony of national millet festival (FESTIMIL). The government has particularly recommended millet for children, the elderly and also for convalescents as millets are energy-dense and nutritious. It is equipped with the property to adapt to poor and arid soil which makes it a staple food crop. Around 80 percent of Nigerien population consumes millets and the communities in the Sahel region also include millets in their diet.

In a nutshell, the support of government initiatives and inclusion of millets in various food & beverage products are likely to enhance millets industry size. According to Global Market Insights, Inc., by the end of 2025, worldwide millets market is estimated to generate a revenue of more than USD 12 billion.

Partial Content

Chapter 1. Methodology And Scope

1.1. Methodology

1.2. Market definition

1.3. Market estimation & forecast parameters

1.4. Data sources

1.4.1. Primary

1.4.2. Secondary

1.4.2.1. Paid

1.4.2.2. Public

Chapter 2. Executive Summary

2.1. Millets industry 360° synopsis, 2014 – 2025

2.1.1. Business trends

2.1.2. Product by application trends

2.1.3. Application trends

2.1.4. Distribution channel trends

2.1.5. Regional trends

Chapter 3. Millets Industry Insights

3.1. Industry segmentation

3.2. Industry size and forecast, 2014 - 2025

3.3. Industry ecosystem analysis

3.3.1. Profit margin

3.3.2. Value addition

3.3.3. Distribution channel analysis

3.3.4. Vendor matrix

3.4. Innovation & sustainability

3.4.1. Patent analysis

3.4.2. Comparison of millets

3.4.3. Future trends

3.5. Industry impact forces

3.5.1. Growth drivers

3.5.1.1. Increasing health consciousness among urban population

3.5.1.2. Environmental challenges in growing rice and wheat

3.5.1.3. Government initiatives to promote millets

3.5.2. Industry pitfalls & challenges

3.5.2.1. High product price as compared to its traditional counter part

3.6. Regulatory landscape

3.6.1. India

3.7. Growth potential analysis

3.8. Regional price trends

3.8.1. Cost structure analysis

3.8.1.1. R&D cost

3.8.1.2. Manufacturing & equipment cost

3.8.1.3. Raw material cost

3.8.1.4. Distribution cost

3.8.1.5. Operating cost

3.8.1.6. Miscellaneous cost

3.8.2. Price by product

3.8.3. Price by application

3.8.4. Price by distribution channel

3.9. Competitive landscape, 2018

3.9.1. Company market share analysis, 2018

3.9.2. Brand analysis

3.9.3. Key stakeholders

3.9.4. Strategic dashboard

3.10. Porter’s analysis

3.10.1. Supplier application

3.10.2. Buyer application

3.10.3. Threat of new entrants

3.10.4. Threat of substitutes

3.10.5. Industry rivalry

3.11. PESTEL analysis

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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