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

The millet based snacks market is estimated to be valued at USD 2.64 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031. Millet is a commonly grown crop in several parts of Asia Pacific and Africa due to its short growing season and resilience in dry conditions. Moreover, millet is gluten-free and rich in protein, iron and fiber. Increasing health awareness and preference for gluten-free products among consumers is driving the demand for millet-based snacks. These snacks provide a tasty and nutritious snacking option. Major players are innovating with flavors and textures to appeal to evolving tastes. The millet snacks market is expected to grow steadily due to the many health and environmental benefits of millet.

 Market Dynamics:

The millet snacks market is driven by rising health consciousness, preference for gluten-free products and environmental sustainability. Millet is easily digestible and helps manage blood sugar levels. It also contains antioxidants that promote heart health. Players are harnessing these nutritional aspects through aggressive marketing campaigns. However, low consumer awareness about the benefits of millets hampers market growth. Also, supply chain challenges and high production costs pose restraints. Significant opportunities lie in innovating new product lines, utilizing organic millet, and targeting the growing vegan population. With health trends accelerating post-pandemic, the demand for nutritious snacks using superfoods like millets is projected to increase.

 Key Features of the Study:

• This report provides an in-depth analysis of the global millet snacks market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global millet snacks market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Kiru Millet, Orgtree , Mood foods, Shri Foods India, Millet Amma, Kaulige Foods, e-Millet, Tru Millet, Ratham Exports, Arvees India , NaNee's , Nutraahaar, and Shanti Food Chem Private Limited
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global millet snacks market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global millet snacks market

Detailed Segmentation-

• By Type:
• • Namkeen
  • Noodles
  • Chips
  • Bakery Snacks
  • Others
• By Distribution Channel:
• • Online
  • Offline
    • Hypermarket and Supermarket
    • Specialty Stores
    • Convenience Stores
    • Departmental Stores
    • Others
• By Region:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
• • Kiru Millet
  • Orgtree 
  • Mood foods
  • Shri Foods India
  • Millet Amma
  • Kaulige Foods
  • e-Millet
  • Tru Millet
  • Ratham Exports
  • Arvees India 
  • NaNee's 
  • Nutraahaar
  • Shanti Food Chem Private Limited