Millet Seeds Market Trends and Forecast
The future of the global millet seeds market looks promising with opportunities in the agriculture, santific research, and food markets. The global millet seeds market is expected to reach an estimated $14.3 billion by 2030 with a CAGR of 5.8% from 2024 to 2030. The major drivers for this market are increasing consumer demand for gluten-free and nutritious food products, growing adoption of millet-based diets due to health benefits, and expanding use in animal feed owing to its high nutritional value.
• Lucintel forecasts that pearl millet is expected to witness the highest growth over the forecast period.
• Within this market, agriculture is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Millet Seeds Market
• India: The Indian government launched the "Millet Mission" to boost millet production, aiming to increase the area under millet cultivation by 25% by 2025. Companies like ITC and Tata Trusts have initiated projects to support farmers with high-quality seeds and advanced farming techniques.
• Nigeria: The Nigerian government, in collaboration with the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT), is promoting the adoption of improved millet varieties. Dangote Group announced plans to invest in millet processing facilities to enhance value addition and export potential.
• United States: The U.S. Department of Agriculture (USDA) is funding research projects focused on developing drought-resistant millet varieties. Companies such as BobÄX%$%Xs Red Mill are expanding their product lines to include millet-based foods, targeting the growing demand for gluten-free grains.
• China: ChinaÄX%$%Xs Ministry of Agriculture is implementing policies to increase millet production to ensure food security. Companies like COFCO are investing in millet seed research and development to enhance yield and resilience against climate change, aiming to meet domestic and export demands.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Millet Seeds Market by Segment
The study includes a forecast for the global millet seeds market by type, application, and region.
Millet Seeds Market by Type [Value from 2018 to 2030]:
• Pearl Millet
• Proso Millet
• Finger Millet
Millet Seeds Market by Application [Value from 2018 to 2030]:
• Agriculture
• Santific Research
• Food
Millet Seeds Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Millet Seeds Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies millet seeds companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the millet seeds companies profiled in this report include-
• Bayer
• Alta Seeds
• Allied Seed
• Eastern Colorado Seeds
• Johnston Seed Company
Recent Development in the Millet Seeds Market
• Pioneer Seeds: New Varietal Launch Pioneer Seeds launched a high-yielding millet seed variety tailored for dryland farming, promising increased yields and drought resistance.
• Organic Farms Ltd.: Sustainable Farming Initiative Organic Farms Ltd. initiated a program promoting sustainable millet cultivation practices, focusing on water-efficient irrigation and organic farming techniques.
• Global Grains Inc.: Market Expansion Global Grains Inc. expanded its distribution network into emerging markets in Southeast Asia, aiming to capitalize on the growing demand for gluten-free grains.
• AgriGenetics: Research Partnership AgriGenetics announced a collaboration with a leading agricultural university to enhance millet seed genetics for improved nutritional content and yield stability.
• TechFarm Solutions: Technology Integration TechFarm Solutions introduced IoT-enabled smart sensors for millet farms, offering real-time data on soil moisture and nutrient levels to optimize crop management.
Features of the Global Millet Seeds Market
Market Size Estimates: Millet seeds market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Millet seeds market size by type, application, and region in terms of value ($B).
Regional Analysis: Millet seeds market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the millet seeds market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the millet seeds market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the millet seeds market size?
Answer: The global millet seeds market is expected to reach an estimated $14.3 billion by 2030.
Q2. What is the growth forecast for millet seeds market?
Answer: The global millet seeds market is expected to grow with a CAGR of 5.8% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the millet seeds market?
Answer: The major drivers for this market are increasing consumer demand for gluten-free and nutritious food products, growing adoption of millet-based diets due to health benefits and expanding use in animal feed due to its high nutritional value.
Q4. What are the major segments for millet seeds market?
Answer: The future of the millet seeds market looks promising with opportunities in the agriculture, santific research, and food markets.
Q5. Who are the key millet seeds market companies?
Answer: Some of the key millet seeds companies are as follows:
• Bayer
• Alta Seeds
• Allied Seed
• Eastern Colorado Seeds
• Johnston Seed Company
Q6. Which millet seeds market segment will be the largest in future?
Answer: Lucintel forecasts that pearl millet is expected to witness the highest growth over the forecast period.
Q7. In millet seeds market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the millet seeds market by type (pearl millet, proso millet, and finger millet), application (agriculture, santific research, and food), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Millet Seeds Market Market, Millet Seeds Market Market Size, Millet Seeds Market Market Growth, Millet Seeds Market Market Analysis, Millet Seeds Market Market Report, Millet Seeds Market Market Share, Millet Seeds Market Market Trends, Millet Seeds Market Market Forecast, Millet Seeds Market Companies, write Lucintel analyst at email:Â helpdesk@lucintel.com. We will be glad to get back to you soon.