According to recent report published by Kings Research Millet Market is a predicted value of USD 21.20 Billion by 2031 and a compound annual growth rate (CAGR) of 5.52% from 2024 to 2031, millet market was estimated to be worth USD 13.84 billion in 2023.

Europe is projected to grow at a substantial CAGR of 5.90% between 2024 and 2031 due to rising awareness regarding the benefits of millets among consumers. Growing health consciousness, rising demand for clean label food products, and a rapidly growing vegan population are key factors driving the millet market in Europe. 

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Key Developments 

May 2023 (Product Launch): ITC Limited added millet cookies under the Sunfeast Farmlite portfolio, which is available in choco-chip and multi-millet variants. Through this launch, the company expanded its millet-based product portfolio.

April 2023 (Product Launch): Britannia Industries unveiled millet bread under its portfolio. The product is refined flour free and formulated from sorghum, pearl millet, and oats, providing a convenient way for consumers to include millet-based products into their daily diet.

Top Key Companies in Millet Market

• ITC Limited
• Nestle
• Bob's Red Mill Natural Foods
• Ancient Golden Mill
• Ardent Mills
• Nature Mills Private Limited.
• Jiwa
• Bliss Tree
• Molino Agostini
• Woodland Foods

The Organic Trade Association (OTA) estimates that the value of organic food sales in the United States in 2022 was USD 60.00 billion, and that this value will continue to rise significantly in the years to come. This trend is boosting a company's reputation and fueling the  market for products made from organic millet.

Regional Insights:

The Asia-Pacific region dominates the millet market, with countries like India and China being the largest producers and consumers. The region's dominance is attributed to traditional dietary habits and the increasing support from governments for millet cultivation. North America and Europe are also significant markets, driven by the rising demand for health foods and gluten-free products.

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