Research Dive has added a new report to its offering titled, "Millet Seeds Market by Type (Pearl Millet, Finger Millet, Proso Millet, Foxtail Millet, and Others), Sales Channel (Specialty Stores, Online Channels, and Others), and Regional Analysis (Asia-Pacific, LAMEA, and Rest of the World): Global Opportunity Analysis and Industry Forecast, 2021–2028".
According to the report, the Global Millet Seeds Market is expected to generate a revenue of $551,469.70 thousand by 2028, growing exponentially at a CAGR of 6.0% during the forecast period 2021-2028.
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Dynamics of the Millet Seeds Market
Rising prevalence of gluten-free food among health-conscious people coupled with the rich nutritional content in millets is expected to drive the growth of the global millet seeds market during the forecast period. In addition, persistent technological advancements like genetically modified seeds and product innovation are further expected to create immense opportunities for the growth of the market during the forecast period. However, extortionate cost of millet seeds products is expected to hinder the growth of the market during the forecast period.
COVID-19 Impact on the Millet Seeds Market
The outbreak of coronavirus has had a moderate impact on the growth of the global millet seeds market, owing to the prevalence of lockdowns in various countries across the globe.
Stringent travel restrictions imposed by the government adversely affected the transportations and food supply chains of industries across the globe. On the other hand, increasing initiatives taken by various countries to corroborate farmers to produce millet seeds appreciably mitigated its impact on the market.
Check Out How Covid-19 Impacts The Global Millet Seeds Market
Segments of the Millet Seeds Market
The report has divided the millet seeds market into various segments based on type, sales channel, and region.
By type, the pearl millet type sub-segment is expected to be most profitable, and generate a revenue of $4,17,600.30 million during the forecast period. Pearl millet is extensively used as a baby food, owing to its high nutritional content. This factor is expected to bolster the growth of the sub-segment during the forecast period.
By sales channel, the specialty stores sub-segment is expected to be most lucrative, and generate a revenue of $15,046.10 million during the forecast period. The ability of specialty stores to sell selective items of particular brands to consumers while maintaining customer satisfaction is expected to accelerate the growth of the millet seeds market sub-segment during the forecast period.
By region, the Asia-Pacific region is expected to dominate the market, and generate a revenue of $2,73,529.00 million during the forecast period. Surging demand for healthy foods among urban population in this region is expected to bolster the growth of the market. In addition, presence of massive producers of millets in this region is further expected to accelerate the growth of the regional millet seeds market during the forecast period.
Top 10 Key Players in the Global Millet Seeds Market
Allied Seed, LLC,
Crystal Crop Protection Pvt. Ltd.
Eastern Colorado Seeds, LLC
Mirfak Pty Ltd
Nuts in Bulk
RR Agroflorestal LTDA
BRAHMA STRAtegies Pvt Ltd
DUGAD Agro Foods
Treta Agro (P) Ltd
Sresta Natural Bioproducts Pvt Ltd.
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.Read More
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