MILLET BASED SNACKS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

High production costs pose a significant challenge for the growth of the global millet-based snacks market. Millet cultivation and processing involves higher costs compared to other cereals like corn, wheat or rice. Millet has a lower yield per acre compared to these commodities, which increases production expenses for farmers. Moreover, millet requires intensive labour during harvesting and threshing as the grains are tiny and dispersed. The labour costs coupled with low yields push up the overall cost of millet production.  Once harvested, millet needs proper drying, cleaning and milling to remove the hard outer covering before it can be used for making snacks. These post-harvest processes involve expensive machinery and equipment as millet is a delicate crop. Establishing robust supply chains for sourcing millet also leads to higher logistical expenditures. The small-scale fragmented nature of millet farming in many regions of Asia and Africa further drives up procurement costs for manufacturers. This is a challenge especially for large industrial snack food producers.

Market Opportunities: Penetration in developing markets

Penetration in developing markets presents a major opportunity for growth in the global millet based snacks market. Millet is a highly nutritious ancient grain that has been a dietary staple for centuries in many developing regions. However, modern lifestyles and exposure to imported processed snacks are changing diets and eating habits rapidly in these emerging economies. There is now a rising appetite for convenient, tasty and healthy snack products made from familiar local ingredients like millet. Millet based snacks offer a nutritionally superior alternative to the junk food options flooding markets. They allow working populations to consume on-the-go meals without compromising on sustainability or wellness. This presents manufacturers an opportunity to cater to this demand by introducing portable millet snack bars, crisps and biscuits. Backed by awareness campaigns highlighting millet's benefits, these innovative snacks can gain widespread popularity.