Market Size of Millet Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 11.53 Billion |
| Market Size (2029) | USD 14.43 Billion |
| CAGR (2024 - 2029) | 4.60 % |
| Fastest Growing Market | Africa |
| Largest Market | Asia-Pacific |
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Millet Market Analysis
The Millet Market size is estimated at USD 11.53 billion in 2024, and is expected to reach USD 14.43 billion by 2029, growing at a CAGR of 4.60% during the forecast period (2024-2029).
- Millets comprise various small portions of cereal such as sorghum, finger millet, pearl millet, barnyard millet, proso millet, and little millet. They are cultivated in adverse and diverse climates in dry, semi-arid, and sub-humid agriculture areas in over 32 million hectares worldwide. India, Niger, and China are the largest millet producers in the world, accounting for more than 55.0% of global production. India is the largest producer of millet in the world. However, in recent years, millet production has increased dramatically in Africa as many countries encourage dryland agriculture due to low water availability and sub-tropical climatic conditions favoring millet production.
- The high protein content of these grains makes them ideal for the vegetarian and vegan population, primarily based in the United States, Europe, and Asia-Pacific. Furthermore, the pandemic has affected the market positively as many people are including millets in their diet and shifting from junk foods to nutrient-rich foods like millets and their derivatives to boost immunity and health. Hence, the demand for millet-based products is growing rapidly in these regions, which is anticipated to drive the millet market.
