Global Millet Seeds Market Size, Share and Growth Analysis Report - Forecast Trends and Outlook (2024-2032)

Global Millet Seeds Market Outlook

The global millet seeds market size reached approximately USD 12.29 billion in 2023. The market is projected to grow at a CAGR of 6.6% between 2024 and 2032, reaching a value of around USD 21.98 billion by 2032.

Key Trends in the Market

Millet is a type of grain that is widely grown around the world for its small edible seeds. It is a key food staple in developing countries around the world and is often used as fodder in many regions. These grains are known to be hard and small, allowing them to survive even in harsh environments. Millets are rich in fibre and various nutrients such as vitamins, minerals, proteins, etc.

• The increasing millet farming in the South and Southeast Asia region amid irregularity and uncertainty related to rice and wheat production is a major factor strengthening the global millet seeds market growth. Rice and wheat cultivation necessitates labour, ample water resources, capital investment, and energy. The decrease in the production of these crops due to resource limitations has led producers to supplement food supplies with millet.

• One of the key global millet seeds market trends is the rapidly growing e-commerce sector. The surge in smartphone adoption has led to a proliferation of eCommerce platforms. This expansion of online marketplaces has enticed various sectors, including food and grain, to embrace the digital realm for showcasing their products.

• Another significant factor enhancing the global millet seeds market demand is the growing recognition of millet as a superfood that is abundant in essential vitamins, minerals, and dietary fibre. Governments around the world are also promoting the production and consumption of millet as a nutritious dietary choice, contributing to its growing popularity.

Market Analysis

Based on type, the market is segmented into pearl millet, finger millet, proso millet, and foxtail millet, among others. The global millet seeds market segmentation, based on nature, includes conventional and organic. The market division, based on distribution channels, includes supermarkets and hypermarkets, grocery stores, and online stores, among others. The major regional markets for millet seeds are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global millet seeds market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Bayer AG 

• Corteva Agriscience

• Hancock Seed & Company 

• Allied Seed, L.L.C. 

• Mamta Hygiene Products Pvt Ltd 

• Eastern Colorado Seeds, LLC 

• Seedway, LLC 

• Roundstone Native Seed Company 

• Crystal Crop Protection Ltd. 

• Others

Market Share by Type

Pearl millet, attributed to both its extensive consumption and impressive production rates, is expected to have a high global millet seeds market share in the forecast period. Pearl millet takes the spotlight in India's millet production, solidifying the country's unparalleled leadership in global millet farming. It also plays a crucial role in both agriculture and nutrition worldwide.

Market Share by Region

According to the global millet seeds market analysis, the Asia Pacific is likely to be one of the producers of millet, closely followed by African nations. Within the Asia Pacific, India shines as the top contributor in both production and consumption of millets, boasting the highest production globally. In various African countries, millet production has thrived for an extended period. The arid climate in these regions provides an ideal setting for the flourishing cultivation of millets.

Competitive Landscape

Bayer AG is one of the largest global pharmaceutical and life sciences companies, headquartered in Leverkusen, Germany. Founded in 1863, it is one of the world's largest pharmaceutical and agrochemical companies, with a diversified portfolio of products and services in the fields of healthcare, agriculture, and consumer health. The company also plays a major role in crop science, offering a wide range of products for farmers to improve crop yields, manage pests, and enhance sustainability in agriculture.

Corteva Agriscience is an international agricultural leader, dedicated to crafting tailored solutions for farmers and the broader agricultural community. Headquartered in Delaware, USA, Corteva's influence extends across over 140 nations globally. At its core, the company thrives on a steadfast commitment to pioneering agricultural innovation and championing sustainable farming methods.

Hancock Seed & Company is an American seed company with a particular focus on offering a comprehensive selection of seeds tailored to various needs in agriculture, gardening, and landscaping. With its foundation dating back to 1978, the company operates from its headquarters in Florida. Over the years, Hancock Seed & Company has earned a reputation as a reliable and go-to provider of top-notch seeds and associated products.

Other global millet seeds market players include Allied Seed, L.L.C., Mamta Hygiene Products Pvt Ltd, Eastern Colorado Seeds, LLC, Seedway, LLC, Roundstone Native Seed Company, and Crystal Crop Protection Ltd., among others.

Key Highlights of the Report