Global Millet Market - Segmented by Geography - Growth, Trends, and Forecast (2018 - 2023)
97% of the global millet production and seed demand comes from the developing countries. India has the highest demand for millet seeds and is the largest millet producer globally, followed by Nigeria, Niger, China, and Mali. Pearl millet is the most cultivated millet, grown predominantly in India and parts of Africa. Other major millet seed varieties are finger millet, porso millet, and foxtail millet.
Millets are the way forward for countries like India and Africa, where food and nutritional security are major challenges. The high drought tolerance capacity of the crop allows it to be cultivated in the adverse conditions of the Eco region. The world’s leading producer of millet is India. Public and private investment are rather limited for millet seed development and production. International prices for millets are highly volatile, determined largely by supply volumes, and are usually unrelated to those of other major coarse grains such as maize, sorghum or barley.
US Dominates the Export Market
The US continues its dominance in the global millet trade. Its primary trading partners in the global millet market were Canada, Indonesia, Malaysia, and Mexico. It has exported USD 16,341thousand in 2015 and USD 12,802 thousand in 2016. Over the past few years, exports from the US to Indonesia have been increasing continuously and there are some fluctuations in trade related activities between Canada and the US. In the year 2015, US has exported USD 8,297 thousand to Indonesia and USD 5,678 thousand in 2016.
India Dominates Millets Production Market
Global millet production was estimated at 27.8 million tons. India is the largest producer 41.04% in the world. In the last two decades, the importance of millet as food staples, particularly in India, has been declining due to various factors that include rising incomes, growing urbanization, and government policies. More than 50% of the millet production is now finding its way to alternative uses as opposed to its consumption only as a staple.
Reasons to Purchase this Report
To have an understanding of the fastest growing regions in the global millet market and their growth trends during the forecast period
The report outlines drives, restraints and trends that are currently affecting the market
The report outlines production, consumption, import and export analysis, and price trend for the market
3-month analyst support, along with the market estimate sheet (in Excel)
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