Market Trends of Millet Industry
Asia Pacific Dominates the Millet Production
- The Asia-Pacific region is essential for both producing and consuming millet, significantly impacting the agriculture and food security of many countries. Major producers in this region include India, China, Indonesia, Bangladesh, Nepal, and Pakistan. The region's diverse climates support various millet types, such as pearl millet, finger millet, foxtail millet, and barnyard millet. An increasing focus on sustainable agriculture, rising health awareness, and supportive government initiatives are driving millet production in the Asia-Pacific. According to FAOSTAT, Asia produced 15,619 thousand metric tons of millet in 2022, leading globally ahead of Africa, Europe, North America, and South America. India stands out as the leading millet producer in Asia, contributing a significant percentage of the total production.
- Governments and organizations in the region are actively promoting millet production due to its nutritional benefits. For example, the Ministry of Food Processing Industries (MoFPI) has launched the Production Linked Incentive Scheme for Millet-based Products (PLISMBP) with a budget of Rs. 800 crores (USD 96.8 million) for the period from 2022-23 to 2026-27. Additionally, the Government of India has classified millets as "Nutri-Cereals" due to their high nutritional value. These initiatives are projected to support market growth during the forecast period.
- Research and development initiatives by government institutions also favor market growth. The Indian Institute of Millets Research (IIMR), under the Indian Council of Agricultural Research (ICAR), is a leading agricultural research institute focused on sorghum and other millets. IIMR coordinates national millet research projects and collaborates with various national and international agencies. Their aim is to increase millet productivity through improved crop production and protection technologies. With high production levels, government support, and active research and development, the market is anticipated to grow during the forecast period.
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Middle East and Africa Dominates the Import Market
- The Middle East and Africa have risen to become the world's leading millet importers. Despite being major producers, these regions have significantly increased their millet imports in recent years. Turkey, Kenya, the UAE, Saudi Arabia, and Morocco are the primary importing countries, with Turkey at the forefront. According to the ITC trade map, Turkey's millet imports surged from 19,507 metric tons in 2022 to 28,900 metric tons in 2023. This growth trend is evident in other importing nations as well. The rising interest in millet as an alternative to traditional grains like wheat, rice, and maize is driving this increase in imports.
- Health, nutrition, and food security concerns have boosted millet's popularity in the Middle East and Africa. These regions are shifting towards healthier diets, recognizing millet for its high nutritional content, including fiber, vitamins, minerals, and antioxidants. The demand for processed millet products, such as millet flour, millet-based snacks, and millet cereals, is also growing, particularly among health-conscious consumers.
- Frequent droughts and agricultural challenges in the region necessitate the import of drought-resistant grains like millet to stabilize food supplies. In 2023, researchers in Abu Dhabi identified a highly climate-resilient foxtail millet, which could address the region's food security issues. Thus, the increasing demand for gluten-free foods and ongoing food security concerns are anticipated to drive millet imports in the region during the forecast period.
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