Millet Based Snacks Market will grow at highest pace owing to growing health consciousness
Millet Based Snacks Market will grow at highest pace owing to growing health consciousness
Blog Article
Millet based snacks are gaining popularity due to their nutritional profile and various health benefits. Millet snacks are rich in vitamins, minerals, antioxidants and fibres that are essential for overall well-being. Several varieties of millets like sorghum, pearl millet and finger millet are used for snacks production. Millet snacks products include cookies, bars, chips and puffs. They have low calories and fat content as compared to popular snacks made from refined flour and rice. The gluten-free nature of millet makes it suitable for people with celiac disease as well. Rising awareness about nutritional benefits of ancient grains and increasing cases of lifestyle diseases are driving consumers towards healthier snack options which is benefitting the millet based snacks market.
The millet based snacks market is estimated to be valued at USD 2.64 Bn in 2024 and is expected to reach USD 3.84 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031.
Key Takeaways
Key players operating in the millet based snacks are Hangzhou Eco Home Textile Co., Ltd., Ramesh Exports, Organic More, SKY Hometex, Muslin Comfort, Jante Textile, West Elm, Pottery Barn Kids, Silk Snow, Prime Texfab, Sri Kalyan Export Pvt Ltd, Tetra Clothing, Annasimona Kids, and Mom's Home. Health awareness among consumers has increased the demand for millet based snacks. Due to various health benefits of millets, more consumers are opting for gluten-free and allergen-free Millet Based Snacks Market Growth. Technology advancements like development of innovative recipes, flavors and packaging solutions are expanding the market.
Market Trends:
- Expanding product portfolio: Companies are innovating new product forms like cereal bars, granola bites and energy balls to appeal to evolving tastes of modern consumers and increase retail shelf presence.
- Focus on clean label offerings: Players are emphasizing on clean label clear packaging highlighting product ingredients to meet consumer demand for transparency.
Market Opportunities:
- Online retail growth: E-commerce platforms offer scope to reach wider audiences and will fuel market opportunities.
- Geographic expansion: Emerging countries will offer long term lucrative opportunities owing to rising disposable income and growing health consciousness.
Impact of COVID-19 on Millet Based Snacks Market
The COVID-19 pandemic has significantly impacted the growth of the millet based snacks market. During the initial phases of the pandemic, nationwide lockdowns imposed stringent restrictions on transport and manufacturing facilities. This disrupted the supply chain and led to declined production volumes across major manufacturing units. With the closure of restaurants, cafes, and shops selling snacks, the demand from the foodservice sector witnessed a steep fall. However, as people stayed indoors for most part of the day, the consumption of packaged snacks increased exponentially within households. Leading manufacturers strategized on expanding their product lines to cater to the growing demand for healthy and nutritious snacks. Several new product launches fortified with whole grains like millets helped boost sales. With rising health consciousness, millet based snacks gained immense popularity as a good alternative for major eating occasions. The market is expected to normalize post pandemic with resumption of operations across key regions. However, increased focus on immunity-boosting foods will drive continued demand for millet snacks in the coming years.
India dominates the Millet Based Snacks Market Regional Analysis in terms of value.
India represents the largest market for millet based snacks globally, accounting for over 35% of the total market value. The diverse Indian cuisine has seen rising demand for healthy indigenous ingredients like millets. Easy availability and high nutritive value of finger millet or ragi has propelled its usage in traditional Indian snacks. Popular recipes like ragi rotti, upsara, and vadi made from ragi in Karnataka, Maharashtra and Andhra Pradesh drive significant consumption. Government campaigns promoting cultivation and consumption of nutritional millets have further augmented sales across India. Changing lifestyles and time constraints are encouraging adoption of ready-to-eat millet snack options offering on-the-go solutions. Leading Indian snack manufacturers are leveraging the market potential through innovative new launches.
Europe represents the fastest growing regional market for Millet Based Snacks.
Europe has emerged as the fastest growing regional market with a projection to witness over 9% CAGR during the forecast period. Heightened health awareness coupled with rising vegan and gluten-free trends across major European countries is driving the uptake of whole grain millet snacks. Easy availability through mainstream retail channels further complements market penetration. The UK, Germany, France, and Italy contribute majorly to the European market share. Increasing millennial population with preference for natural and sustainable snack options spurs market growth. Manufacturers offering staple-free, protein-rich snacks made from millets, sorghum and brown rice appeal greatly to European consumers. The region also promotes consumption through marketing campaigns highlighting nutritional and environmental benefits of native ingredient-based snacks.
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About Author:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
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