Global Millet Flour Sales to Total US$ 7.8 Billion by 2034, Amid Rising Consumer Awareness of its Health Benefits | Future Market Insights, Inc.
The United States Millet Flour Market Is Projected To Reach A Value Of US$ 1,621.2 Million By 2034, Holding A Significant Global Market Share Of 20.7%. This Growth Is Driven By Rising Demand For High-Nutritional, Gluten-Free Food Products As Consumers Seek Healthier Alternatives.
NEWARK, Del, March 18, 2024 (GLOBE NEWSWIRE) -- As per the latest analysis, the global millet flour market is expected to be valued at *US$ 5.1 billion* in 2024. It will likely exhibit steady growth, with millet flour sales growing at a CAGR of *5.3%* throughout the forecast period. By 2034, the global market size is anticipated to reach *US$ 7.8 *billion.Demand for organic millet flour is predicted to grow at a higher CAGR of *6.0%* between 2024 and 2034. This can be attributed to rising consumer demand for organic food products.
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*Several factors are anticipated to drive the growth of the global millet flour industry during the next ten years. These include:*
· Rising awareness of the health benefits of millet flour
· Increasing consumer preference for gluten-free food products
· Growing prevalence of food allergies and intolerances
· Favorable government support
· Expanding usage of millet flours in baby food and dietary supplement sectorsDue to their outstanding nutritional profile, millet flours lead the way in the health food movement. These flours are valued for their nutritional value, flexibility, tenacity, and gluten-free nature.
Consumers worldwide are becoming aware of the health benefits of millet flour, including its high nutritional value and gluten-free nature. This will continue to fuel demand during the forecast period.
The gluten-free nature of millet flour is a key factor fueling their demand globally. Millet flours are becoming a safer option for consumers seeking gluten-free alternatives to barley, wheat, and rye flours.
The gluten-free profile of millet caters to consumers with special dietary needs. It also satisfies the needs of health-conscious consumers who perceive the gluten-free diet as inherently healthier.
Along with its gluten-free profile, millet flour's highly nutritional profile, such as the presence of vitamins, minerals, and dietary fiber, is also significantly contributing to high adaption. Thanks to their high protein content, millet flours are becoming ideal protein sources for the vegan and vegetarian population who want to add plant-based protein.
*Key Takeaways from the Millet Flour Report:*
· The global millet flour market is estimated to be valued at *US$ 7.8 billion* in 2034.
· Based on nature, the conventional segment is set to hold a dominant market share of *89.7%* in 2024, while the organic segment will likely grow at a CAGR of *6.0%*.
· By application, the bakery & confectionery segment is expected to account for a market share of *39.8%* in 2024.
· Based on the distribution channel, the direct segment will likely hold a value share of *76.5%* in 2024.
· Revenue in the United States is expected to total *US$ 1,621.2 million* in 2034.
· Japan is poised to register a CAGR of *6.4%* from 2024 to 2034.
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*“Growing consumer preference for gluten-free food products and development of cutting-edge milling technologies are expected to foster growth of the millet flour market. Prospering with healthy potential and international appeal, those who plant the seeds of innovation and foster cooperative growth will reap the abundant rewards of success in this developing and enlightening sector.”* - Nandini Roy Choudhury, Client Partner at Future Market Insights
*Who is Winning? *
Bob’s Red Mill Natural Foods, Arrowhead Mills, Azure Standard, Great River Organic Milling, Pristine Organics, OOO Farms, Authentic Foods, RiceBran Technologies, Bayer AG, Grain Millers, and ARDENT MILLS are key millet flour manufacturers and suppliers listed in the report.
Key players are continuously launching new products with attractive packaging to cater to rising consumer demand for healthy, gluten-free flour. They are also adopting strategies like mergers, acquisitions, distribution agreements, acquisitions, and facility expansions to gain a competitive advantage in the market. For instance:
· In 2021, *Ardent Mills* completed the acquisition of all the assets of Firebird Artisan Mills brand. With this acquisition, all products of the Firebird Artisan Mills are fully integrated into Ardent Mills.*Access the Complete Report Methodology Now: *https://www.futuremarketinsights.com/request-report-methodology/rep-gb-19238
*Millet Flour Market Segmentation*
*By Nature:*
· Organic
· Conventional
*By Application:*
· Bakery and Confectionary
· Sauces, Dressings, and Condiments
· Snacks
· Baby Food
· Dietary Supplement
· Others
*Distribution Channel:*
· Direct
· Indirect
· Hypermarkets/Supermarkets
· Convenience Stores
· Mom and Pop Stores
· Discount Stores
· Food & Drink Specialty Stores
· Independent Small Groceries
· Online Retail
· Other Retail Formats
*By Region:*
· North America
· Latin America
· Europe
· East Asia
· South Asia
· Oceania
· Middle East & Africa*Authored by:*
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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*About Future Market Insights (FMI)*
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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