Preference for healthy food products has led the manufacturers in the food industry to opt for nutritious ingredients globally. Consumers mainly prefer spending on food products that are rich fiber-dense ingredients such as millets. In addition, growing prevalence of various diseases such as diabetes and obesity has led customers to prefer spending on fat-free and fiber-rich food products. According to Centers for Disease Control and Prevention (CDC), over 100 million adults in the U.S. are living with prediabetes and diabetes. Also, a recent report by CDC states that over 36% of the adults in the U.S. have obesity. In order to cater to demands of the customers, manufacturers are focusing on offering diabetes-friendly food products that help in maintaining the blood and sugar level of the customers.
As consumption of millets improves the digestive system, boosts respiratory health, lowers the risk of cancer and improves the muscle and nerve health, sales of millets will continue to remain high globally. Attributed to gluten-free properties, customers suffering from celiac disease prefer consuming food products that have a high content of healthy grains such as millets. Prevalence of celiac diseases will continue to boost the sales of millets among various manufacturers in the food industry.
Over 13 Mn Opportunity in the Global Millets Market
According to Fact.MR, the global millets market is expected to reach a value of over US$ 13 Mn by the end of 2022. The growth of the global millets market is mainly bound to various macroeconomic and micro-economic factors. Sales of the millets is expected to remain high attributed to increasing preference for healthy and fiber-dense food products among customers. As consumers are becoming more aware of the healthy food products and prefer maintaining a healthy lifestyle, leading companies in the food industry are focusing on offering millet-based food products globally. Besides food products, millets also continue to witness significant demand for production of the malted and alcoholic beverage products. Limited access to water resources in the semi-arid regions will continue to fuel sales of millets significantly.
In order to offer diabetes-friendly and fat-free food products, leading market players are focusing on conducting training sessions for the farmers to equip them with techniques and knowledge and boost millets cultivation. In addition, major players operating in the food and beverage industry are concentrating on offering food products such as barnyard millet noodles, pasta and ragi biscuits that help the customers in weight management. Also, several startups are focusing on launching millet-based food products mainly for the overweight and diabetic customers to gain a competitive edge in the global market. Implementation of strategies such as product launch and food innovation among the leading market players is expected to expand the customer base for millets globally.
Preference of the pearl millets will continue to remain high attributed to the rich composition of proteins and materials. Growing preference for mineral and protein-rich food products will continue to rev up sales of the millets significantly. In addition, sales for millets will also witness an increasing demand for production of non-alcoholic beverages. However, demand for millets will continue to rev up significantly for the alcoholic beverages. As customers mainly prefer purchasing food products from the hypermarkets and supermarket, sales from the modern trade channel and specialty stores is expected to remain high over the coming years.
Leading players operating in the global millets market include Ernst Conservation Seeds, Roundstone Native Seed Company, E.I. DuPont De Nemours and Company, Brett-Young Seeds Limited, Bayer Crop Science AG, Wise Seed Company, Inc., Archer Daniels Midland Company, and Cargill, Inc.
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