Market Analysis of Millets in 2020

MILLET MARKET ANALYSIS:

Millets are ancient Super grains, nowadays known as Nutri-Cereals, is the reservoirs of nutrition for better health. Millets are classified into major and minor millets. Major Millets( Sorghum and Pearl Millet) and Minor Millets(Foxtail Millet, Proso Millet, Kodo Millet, Little Millet, Barnyard Millet). Millets are predominantly gaining more importance in the world and in India.

Market  Analysis pertaining to Millets can be discussed by its:
1. Demand and Consumption
2. Use of Millets in Food Processing
3.Online Distribution Channel
4. Increase in Millet Production
5. Millet Market Forecast
6. Market Competition.

DEMAND & CONSUMPTION:
Millets were considered as the Poor Man's Food. Now it has shifted to Rich Man's Food. The demand for millets is increasing in urban areas not only due to its nutritional value but also enhancing immunity in the human body. Millets are considered to be promising sources as an immunity booster. The important elements that maintain our body's immune system are those which contain all vitamins and minerals and a completely balanced diet. So, the first cereals that come to my mind which contain vitamins, minerals, fiber, and anti-oxidants are the MILLETS. The increase in awareness of the health benefits of Millets will directly boost the consumption and trigger the industry growth rapidly by 2025.

USE OF MILLETS IN PROCESSING:
Millet Beer

Innovative millet products are taking their share in many segments like Infant Food, Bakery Products, Health Drinks, Ready to Eat Food, Breakfast Food, and the emerging industry i.e. Alcohol.
Two mothers of India came forward with a yummy and healthy food for babies in the brand name  Slurrp Farm. Bringing their experience and imbibing their ideas into them. Many Startup Businesses have come with wonderful millet products in the market. The Toit Brewery of Bengaluru is the first to introduce Nutri grain-Millet into the beer jug. By this, there will be a reduction in the import of barley malt from abroad. As millets are rich in nutrients, it is taking the place in the health drink segment.

ONLINE DISTRIBUTION CHANNEL:
Market Share by Distribution Channel

In 2018, millets market share by distribution channel shows that e-commerce online stores are gaining importance and likely to show promising above growth more than 3% CAGR by 2025. Previously people were dependant on traditional grocery stores for millet products but now in the situation of COVID-Pandemic, everyone is dependant on online stores. Keep in mind that Millets are the immunity booster and getting the product at the doorstep, Online Store will take the maximum share in the distribution channel.

INCREASE IN MILLET PRODUCTION:

India is the largest producer of millets with 41% market share in the world. The importance of millet is increasing day by day due to increased awareness among people and government policies supporting nutritional security. The only crop to withstand drought and climate change is the millet as it can be grown in every soil with less rainfall. Many states like Odisha, Karnataka are promoting millets in large scale benefitting small and marginal farmers. There is an increase in MSP of millets for the last 3 years giving confidence to farmers to grow more millets.

MILLET MARKET FORECAST:

According to a report announced by the Reportlinker.com "North America Millets Market Forecast to 2027- COVID-19 Impact and Regional Analysis By Product; Application; Distribution Channel; and Country, where they have mentioned that The North America Millets Market was valued at US$ 841.87 million in 2018 and expected to grow at a CAGR of 4.0% during 2019-2027 to reach US$ 1,192.24 million by 2027.

MARKET COMPETITION:

The global millet market is unorganized and fragmented. The millet processors are generally small in size catering small export business. As the trend of growth in millet will bring more opportunities for the entrepreneurs and simultaneously have more competition in the market. The entrepreneur with the right strategy and good quality products will take the maximum market share. The organic millets with more traceability and transparency will win the game.





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