Rising demand for healthy foods, increasing trend towards veganism, extensive use of millets in animal feed are fueling the growth of the global millet seed market.
PORTLAND, OR, UNITED STATES, December 28, 2021 /EINPresswire.com/ – the Global millet seed market was estimated at $ 10.1 billion in 2020 and is expected to reach $ 18.3 billion by 2030, registering a CAGR of 6.1% from 2021 to 2030. The report provides an in-depth analysis of the major pockets of investment, top winning strategies, drivers and opportunities, market size and estimates, competitive scenario and varying market trends.
Rising demand for healthy foods, increasing trend towards veganism and intensive use of millet in animal feed are fueling the growth of the global millet seeds market. On the other hand, the adulteration of millet seeds and the presence of several other alternatives hamper growth to a certain extent. However, the growing trend to have organic food is expected to create lucrative opportunities in the industry.
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There has been an inflated demand for healthy food during the pandemic, thus boosting the global millet seed market to some extent.
However, the pandemic disrupted the export of millet to Western countries, but increased local demand in Asia-Pacific and Africa, resulting in increased sales.
The global millet seeds market is analyzed on the basis of type, nature, sales channel, and region.
Based on type, the pearl millet segment accounted for nearly three-fifths of the total market share in 2020 and is expected to reign on the roost by 2030. The porso millet segment, however, would garner the fastest CAGR 7.7% throughout the endpoint forecast.
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Based on nature, the conventional segment contributed 97% of total market revenue in 2020 and is expected to lead the way by 2030. The organic segment, however, is said to have the fastest CAGR of 7.9% as of today. during the forecast period.
Based on region, the Asia-Pacific region market held the bulk in 2020, accounting for about half of the global market. Europe, on the other hand, is said to exhibit the fastest CAGR of 7.3% throughout the forecast period.
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Leading market players analyzed in the Global Millet Seeds Market report include Crystal Crop Protection Ltd., Soya UK Ltd., Delphi Organic GmbH, Eastern Colorado Seeds, Allied Seed, Hancock Seed & Company, Mirfak Pty Ltd, Nuts in Bulk, RR Agro Foods and Mamta Hygiene Products Pvt Ltd. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures and others to prove their flair in the industry.
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