Millet

MILLET MARKET

India is the world’s largest producer of millets, producing over 40% of the global supply. The main millet-producing states in India are Rajasthan, Karnataka, Maharashtra, Uttar Pradesh, Haryana, Gujarat, Madhya Pradesh, Tamil Nadu, Andhra Pradesh, and Uttarakhand. The Indian millet market is expected to grow at a Compound Annual Growth Rate (CAGR) of 16.7% through 2021-26. On a global scale, the millet market size is projected to grow from USD 11.02 billion in 2023 to USD 13.80 billion by 2028 at a CAGR of 4.60% between 2023 and 2028. These figures indicate a promising future for this niche within the FMCG industry.

At present, through recently launched National and State Millet Missions, the Government of India, and several states like Odisha, Maharashtra, Assam, Chhattisgarh, Tamil Nadu and others are attempting to promote the production, distribution, and consumption of millets as nutritious and resilient crops to address malnutrition and climate vulnerability, especially in dry areas. Thus, the millets have become unaffordable for a large proportion of urban consumers (especially lower income groups), while rural consumers – of whom more than two-third get subsidised wheat and rice at Rs. 2-3 per kilogram – may not be willing to buy millets at Rs. 30-40 per kilogram. Thus, the cultivation of millets remains economically less attractive for farmers in most cases. ​

So far, the efforts of the government led by Prime Minister Modi have resulted in significant increase in awareness of the benefits of millets among different stakeholders, especially health-conscious urban consumers. Asia-Pacific dominates the market, accounting for over 70% of global production, with India, China, and Nigeria being top producers. The United States, Europe, and Africa are emerging markets, driven by growing demand for gluten-free and nutritious food products.