Market Size and Trends

The millet based snacks market is estimated to be valued at USD 2.64 Bn in 2024 and is expected to reach USD 3.84 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031.

Millet Based Snacks Market Key Factors

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The market has been witnessing positive growth trends over the past few years. Factors, such as rising health consciousness, increasing preference for gluten-free products, and growing adoption of veganism, are driving the demand for millet-based snacks. Moreover, the nutrition profile of millets which includes high protein, fiber, and mineral content is encouraging manufacturers to innovate and launch new product varieties. Several start-ups are also entering the space and offering organic, healthy millet snack options. With continued new product introductions and marketing campaigns emphasizing the health benefits of millets, the millet-based snacks market is expected to grow significantly over the forecast period.

Rising health consciousness

The rising health consciousness among consumers worldwide have increased the demand for healthy and nutritional food items. People have started recognizing the benefits of millet based products and are incorporating them in their daily diet. Millet is gluten-free, rich in protein and fiber and helps in maintaining cholesterol levels and blood sugar. These attributes make millet an ideal ingredient for creating snacks. Millet based snacks offer an alternative to consumers who want to avoid gluten, fatty and calorie laden snacks. The nutrient dense profile of millets helps tackle malnutrition issues and fulfills the dietary requirements of all age groups especially children and elderly. Many consumers opt for millet snacks as they provide sustained energy, keep one full for longer duration and aid in weight management. The proven health benefits have driven millet's popularity beyond health and wellness enthusiasts. Even mass market retailers have started stocking millet snacks seeing the consumer demand. This growing focus towards health and nutrition is a major factor augmenting the demand for millet based healthy snacks.

Increasing Working Population

With evolving lifestyles and dual income families witnessing an upward trend, ready-to-eat snacks have become an integral part of daily routines. Today's fast paced life leaves little time for elaborate home cooked meals. Working professionals rely heavily on convenient snacks which can be easily consumed between jobs or on the go. Additionally, nuclear families and single occupancy households also drive the need for easy to prepare yet filling food options. Millet based snacks perfectly fit this requirement as they are portable, have long shelf life and provides instant energy. The expanding working population has less time for cooking yet needs nourishment throughout the day to stay productive. Millet snacks address this need efficiently as they are easy to carry, replacing other fried and junk snacks. Busy work schedules mean people nowadays prefer snacking more often instead of traditional three heavy meals. Ready-to-eat millet snacks tap into this lifestyle change and growing preference for nutritious snacking. Thus, the burgeoning working population acts as another key driver catalyzing the demand for healthy and convenient millet based snacks.

Millet Based Snacks Market Report Snapshots