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

Regional Analysis

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North America has emerged as the dominant region in the global millet based snacks market over the past decade. The North America region is expected to account for 38.7% of the market share in 2024, due to increasing consumer preference for gluten-free and healthier snacks. Moreover, the presence of mature and dominant players such as General Mills, Quakers, and Bobs red mill, have led to the wider availability and exposure of millet-based snacks in mainstream retail stores across the region. The category has also gained popularity due to promotional activities by retail giants like Walmart and Target focusing on healthy snacking options. Another factor contributing to the leadership position of North America is the innovative product launches by regional players. Companies often introduce new product lines fortified with vitamins, proteins, and fibers to attract health-conscious consumers. Flavored millet puffs and crunchy rice bars have become popular snacks consumed either as an on-the-go option or evening movie binge. Export is also a major revenue stream for American producers as they meet the growing international demand, especially from Asian and European countries.

The Asia Pacific region has emerged as the fastest growing market for millet-based snacks globally over the past 5 years. India holds a major share of the Asian market owing to millets being a traditional part of diet. Changed lifestyle and rising disposable incomes have increased the demand for packaged convenient snacks in India. Moreover, Indian companies such as IGP, 24 Mantra Organic, and Kottakkal Arya Vaidya Sala are increasingly innovating with millet based extruded snacks, puffs and flavored rice cakes to tap the market potential.  Nepal and Bangladesh are other important Asian markets experiencing high double digit growth rates annually due to increasing popularity of millet as a superfood. Growing health consciousness, coupled with initiatives by governments to promote millets cultivation, have propelled the demand. Trading houses establish links between millets producing nations and other Asian nations, further enhancing accessibility and affordability of millet snacks within the region.