Millets Global Market Report 2024

The global millets market has grown strongly in recent years. It will grow from $10.99 billion in 2023 to $11.67 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to increasing nutritional awareness, increasing health and wellness trends, rise in sustainable agriculture, government initiatives.

The global millets market is expected to see strong growth in the next few years. It will grow to $14.39 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to global population growth, climate change resilience, urbanization and convenience, research and development. Major trends in the forecast period include consumer education, research and innovation, culinary diversity, gluten-free and allergen-friendly foods.

The surge in obesity-related problems is anticipated to fuel the expansion of the millets market. Obesity encompasses a range of health challenges stemming from excessive body fat accumulation. When the body struggles to burn excess fat through physical activity and exercise, it leads to obesity-related disorders. Millets are rich in essential vitamins and minerals, contributing not only to overall health and well-being but also aiding in weight management and mitigating obesity-related health concerns. For instance, as per the World Obesity Atlas 2022, published by the UK-based non-profit organization, the World Obesity Federation, it is projected that by 2030, one billion people worldwide, including 1 in 5 women and 1 in 7 men, will grapple with obesity. This figure is expected to soar to 4 billion people, constituting 51% of the global population, living with either overweight or obesity by 2035. Consequently, the escalating prevalence of obesity-related problems is propelling the growth of the millets market.

The surge in demand for plant-based food is anticipated to be a significant driver for the growth of the millet market in the foreseeable future. Plant-based food encompasses a category of food products and dietary preferences that primarily rely on ingredients derived from plants, including vegetables, fruits, grains, legumes, nuts, and seeds. Millets, being versatile grains, harmonize well with a wide array of plant-based ingredients, enabling the creation of diverse and satisfying plant-based dishes. For example, as of December 2021, according to the Plant Based Foods Association, a US-based food association, plant-based food sales saw a notable rise, expanding by 6.2% in 2021 following a record-breaking year of growth in 2020. Consequently, the escalating demand for plant-based food is propelling the growth of the millet market. year of growth in 2020. Consequently, the escalating demand for plant-based food is propelling the growth of the millet market.

High production costs are anticipated to impede the progress of the millets market. The specialized equipment and techniques required for millet production contribute to elevated production expenses, potentially constraining millet supply and adversely affecting market expansion. As an illustration, in April 2022, data from the Agricultural Marketing Resource Center, a US-based national virtual resource center, indicated an average price of $8.92 per bushel for proso millet in the U.S. in 2021, resulting in a total crop value of $150 million. Consequently, the impact of high production costs on the millets market remains substantial.

Companies within the millet market are actively making strategic investments and exploring opportunities within the food industry to develop and promote products, thereby fortifying their market position. These investments play a crucial role in advancing the millet market by supporting its growth, tackling climate and food security challenges, and advocating for the health benefits associated with millets. For example, in February 2022, Wholsum Foods Pvt. Ltd., an India-based food startup, secured $7 million in funding to expand its range of millet-based offerings. This investment is poised to significantly contribute to Wholsum Foods' mission of enhancing accessibility and appeal of millets to consumers. Furthermore, in March 2023, Ivar Agro, another India-based food startup, committed an investment of 27.5 million (equivalent to 200 crores) to establish a project for millet-based food products in Uttarakhand. This project, projected for completion by 2024, is set to have a monthly production capacity of 1,000 metric tons of millet-based products, including biscuits, cookies, and flour.

In February 2021, Tata Consumer Products Limited, an FMCG company based in India, acquired the millet-based brand Soulfull from Kottaram Agro Foods Pvt. Ltd. for a transaction value of $18.8 million. This acquisition empowers Tata Consumer Products Limited to explore new consumption scenarios and extend its product range into the rapidly growing on-the-go market segments. Kottaram Agro Foods Pvt. Ltd. is an Indian food manufacturing company known for producing millet-based products.

Major players in the millets market are Cargill Inc., Nestle S.A., Archer Daniels Midland Company, Bayer Crop Science AG, E.I. DuPont De Nemours and Company, Glanbia Nutritionals Inc., Warburtons Ltd., Bobs Red Mill UK Ltd., Bay State Milling Company, Grain Millers Inc., Woodland Foods, Eden Foods Inc., Sresta Natural Bioproducts Pvt. Ltd., Ernst Conservation Seeds, Sydler India Pvt. Ltd., Brett-Young Seeds Limited, Minn-Dak Growers Ltd., Wise Seed Company Inc., Avena Foods Limited, Roundstone Native Seed Company, To Your Health Sprouted Flour Co., Dharani FaMCooP Ltd., Nature’s Logic, Arrowhead Mills Inc., Navan Foods LLC, Mayoora Foods LLC.

Asia-Pacific was the largest region in the millets market in 2023. Africa is expected to be the fastest-growing region in the forecast period. The regions covered in millets report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the millets market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary millet varieties include pearl millet, foxtail millet, sorghum, finger millet, and others. Pearl millet, a type of cereal grain, is one of the oldest cultivated crops worldwide. Primary millet varieties include pearl millet, foxtail millet, sorghum, finger millet, and others. Pearl millet, a type of cereal grain, is one of the oldest cultivated crops worldwide. These grains are made available to consumers through trade associations, supermarkets, grocery stores, online platforms, and other outlets, catering to various end-users such as ready-to-eat meals, direct consumption, bakery goods primary millet varieties include pearl millet, foxtail millet, sorghum, finger millet, and others.

This report provides millets market statistics, including millets industry global market size, regional shares, competitors with a millets market share, detailed millets market segments, market trends and opportunities and any further data you may need to thrive in the millets industry. This millets market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The millets market consists of sales of buckwheat millets, amaranth millets, little millets, barnyard millets, broomcorn millets, millet snacks and kodo millets. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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