Millet Snacks Market Global Size, Growth Insight, Share And Forecast 2031
The Millet Snacks Market was valued at $2.4 billion in 2021, and is estimated to reach $3.7 billion by 2031, growing at a CAGR of 4.9% from 2022 to 2031. An increase in the use of millet seeds in snacks is fueling the growth of the global millet snacks market. The bland-tasting millet seeds are a healthy food grain with a long list of health advantages. Engaged stakeholders are attempting to include millet seeds in various sorts of snacks that will make it simpler for customers to eat millet in an effort to increase the popularity of millet consumption. Moreover, the increase in demand for healthy food is further boosting the growth of the millet snacks market size.
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𝐌𝐚𝐣𝐨𝐫 𝐊𝐞𝐲 Players In This Market
The major players analyzed in the global millet snacks industry are Milletsnacks.com, Healthy Master, orgtree, Moon Food, Urban Millets Pvt Ltd, Nativefoodtore, HiYou, Cicer Food Products and Slurrp Farm.
𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:
According to the millet snacks market opportunities, region wise, Asia-Pacific held the major millet snacks market share in 2021 and is projected to grow at a significant CAGR of 4.0% from 2022 to 2031. India contributes to nearly 20% of the global export value of millet and thus is a key player in terms of its ability to provide for global demand.
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Power food provides quick energy and nutrients to the body either via a meal or in the form of a nutrition supplement. Millets contain high protein content that helps provide energy to the body. Breakfast cereals made from millet seeds can help provide enough energy for the whole day. This utilization of millet seeds as power food is anticipated to offer potential opportunities for the expansion of the millet snacks market.
Key finding of the study
By type, the extruded products segment was the highest revenue contributor to the market with $1,999.9 million in 202 1, and is estimated to reach $3,130.1 million by 2031, with a CAGR of 4.8%.
By age group, the millennials segment was the highest revenue contributor to the market, with $1,083.8 million in 2021, and is estimated to reach $1,584.5 million by 2031, with a CAGR of 4.0%.
By distribution channel, the offline segment was the highest revenue contributor to the market, with $17,63.8 million in 2021, and is estimated to reach $2728.5 million by 2031, with a CAGR of 4.6%.
Region-wise, Asia-Pacific was the highest revenue contributor, accounting for $1,043.3 million in 2021, and is estimated to reach $1,532.0 million by 2031, with a CAGR of 4.0%.
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