Millet Seeds Market Report and Forecast 2024-2032

Market Outlook

According to this report, the millet seeds market size reached a value of USD 12.29 billion in 2023. Aided by the increasing demand for nutritious and sustainable food sources and the growing applications of millet in various sectors, the market is projected to further grow at a CAGR of 6.6% between 2024 and 2032 to reach a value of USD 21.98 billion by 2032.

Millets are small-seeded grasses that are cultivated primarily for food and fodder. Millet seeds are known for their high nutritional value, including essential amino acids, vitamins, minerals, and dietary fibre. These grains are drought-resistant and can thrive in harsh environmental conditions, making them a sustainable agricultural option. Millets are used in a variety of food products, including cereals, snacks, porridges, and alcoholic beverages.

The increasing consumer preference for nutritious and sustainable food sources is driving the millet seeds market growth. With the growing awareness of the health benefits associated with millet consumption, there has been a significant shift towards incorporating millets into daily diets. Millets are gluten-free, have a low glycaemic index, and are rich in antioxidants, making them popular among health-conscious consumers and those with dietary restrictions. Additionally, the rising trend of plant-based and gluten-free diets has further contributed to the increasing popularity of millets.

The expanding applications of millet in various sectors also play a significant role in propelling the market. In the food and beverage sector, millets are used to produce a wide range of products, including bakery items, breakfast cereals, snacks, and alcoholic beverages. The growing demand for innovative and nutritious food products is driving the adoption of millet as a key ingredient. In the animal feed industry, millets are used as a nutritious feed for poultry, livestock, and pets. The rising demand for high-quality animal feed is boosting the market growth.

Moreover, advancements in agricultural practices and seed technologies are driving innovation and development in the market. The introduction of high-yielding and disease-resistant millet seed varieties has enhanced the productivity and profitability of millet cultivation. Additionally, sustainable farming practices and organic farming methods are gaining popularity among millet farmers, consequently driving up the millet seeds market share.

The growing focus on food security and sustainable agriculture is also contributing to the market growth. Millets are resilient to climate change and can be cultivated in marginal lands with minimal inputs, making them a sustainable agricultural option. The increasing emphasis on promoting millet cultivation as a means to ensure food security and support rural livelihoods is driving the adoption of millet seeds. Various government initiatives and international programs are supporting millet cultivation and promoting the consumption of millets.

The regulatory environment plays a crucial role in shaping the market. Governments and regulatory bodies across the world are actively supporting the development and distribution of high-quality millet seeds. Various regulations and policies, such as subsidies, minimum support prices, and research funding, are promoting millet cultivation and ensuring the availability of quality seeds to farmers. These regulatory efforts are providing a favourable environment for the growth of the millet seeds market.

As per the millet seeds market analysis, the pearl millet segment holds a significant share of the market, driven by its high nutritional value and adaptability to various climatic conditions. Pearl millet is rich in protein, fibre, and essential minerals, making it a valuable food source. It is widely used in traditional and modern food products, including porridges, flatbreads, and snacks.

Market Segmentation

The market can be divided based on type, nature, distribution channel, and region.

Market Breakup by Type

• Pearl Millet
• Finger Millet
• Proso Millet
• Foxtail Millet
• Others

Market Breakup by Nature

• Conventional
• Organic

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets
• Grocery Stores
• Online Stores
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global millet seeds market. some of the major players explored in the report are as follows:

• Bayer AG
• Corteva Agriscience
• Hancock Seed & Company
• Allied Seed, L.L.C.
• Mamta Hygiene Products Pvt Ltd
• Eastern Colorado Seeds, LLC
• Seedway, LLC
• Roundstone Native Seed Company
• Crystal Crop Protection Ltd.
• Others