Millet Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
Originally a fad, due to the increasing consumption of millet among urban individuals for its protein and mineral content, the millet market is set to witness continual upward growth in its trajectory. Millet contains proteins and minerals including iron, and calcium. The high nutrient content helps in prevention of diseases and provides several health benefits. Rising incidence of diseases such as diabetes, obesity, and cardiovascular diseases due to lifestyle changes is another factor which is boosting demand for millet. The nutritional content of millet helps fight such diseases.
It is gluten-free and helps in losing weight. Hence, it is complementing staple food in various regions and consumed in the form of porridges and flatbread. Also, with rising awareness among young generation the demand for millet is also increasing.
In regions like the U .S. and Western Europe, millet is used to produce hay and pasture.
Another factor that makes millet popular among people is its drought resistant property. The millet crop can resist high temperatures, making it a favourable for use in drought prone area.
All these factors, cumulatively, are driving the growth of millet market globally.
The upcoming report on millet market provides comprehensive knowledge about the market growth over 2019-2029 forecast period. It presents detailed study about the drivers and trends that is going to shape the market in the course of forecast period. Demand drivers and challenges pertinent to the millet market are examined to provide reliable analysis of the millet market over the forecast period
Considering the climatic changes, there is major change in the rain New South Wales and Queensland pattern. Hence, farmers in the Queensland and New South Wales are considering farming fodder- corn, millet, and forage sorghum.In some regions, the rainfall has surpassed the predicted statistics, and other areas are experiencing patchy rainfall.
The rainfall map for last week is signifies widespread drought-stressed agricultural regions of New South Wales and Queensland. This is prompting farmers to cultivate late sorghum crops and mung bean. The New South Wales will witness cultivation of fodder or furry crop by both croppers as well as mixed farmers so that livestock feed storage can be filled.
Considering the alternate rain showers followed by dust storms, soil did not lock much moisture. And, farming in such case may deteriorate the quality of the soil, making it unreliable for further farming.
Owing to health benefits of millet, it is used in bakery products, beverages, fodder, and breakfast food. Besides, millet has been found beneficial for infants as it lowers the risk of malnutrition among them. Hence, it is becoming a prominent ingredient in foods suitable for infants. The trend is likely to drive the millet market during forecast period.
Millet has high fibre content and low Glycemic Index (GI), which further helps in stabilizing sugar level. They are enriched with phosphorus, calcium, magnesium, zinc, iron, and potassium which aid to maintain overall health. This is one of the prominent factor driving global millet market.
Demand for millet is increasing in countries in Asia Pacific, hence, farmers are inclining towards millet farming over rice and wheat. However, the high product cost is a restraining factor for millet to become a common food. The price of millet is considerably high because of poor supply chain and comparatively lesser production volume, when compared to wheat and rice.
The industry is highly fragmented due to presence of multiple medium sized companies. The companies are usually driven by farmers. Some of the key companies in millet market are- Wise Seed Company, Bayer Crop Science AG, Archer Daniels Midland Company, Roundstone Native Seed Company, Ernst Conservation Seeds, and Brett-Young Seeds Limited.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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