About Foxtail Millet
Foxtail millet is one of the earliest cultivated crops, extensively grown in the arid and semi-arid regions of Asia and Africa, as well as in some other economically developed countries of the world where it is more commonly used as bird feed. It has high growth prospects due to demand from the unsustainable nature of rice and wheat production will drive product demand during the forecast period. Millets based infant food such as porridge are ideal for infant growth and will help to lower the occurrence of malnutrition in infants and babies. Bakery products such as packaged cookies are slowly Gaining prominence owing to its easy availability in availability throughout supermarkets and e-commerce sites, especially in Asia Pacific.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.9% |
To entice more end users, market players are focusing on providing Foxtail millet of higher quality while adhering to all regulatory standards. In the global Foxtail millet market, there are numerous large and small-scale producers and distributors. They are also concentrating on the implementation of numerous advanced technologies. Furthermore, the numerous industry profits have led to the entry of new players, raising the level of rivalry in an already competitive market. The Foxtail millet market is currently expanding due to the increasing number of technological advancements in agriculture yields. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Vee Green Organic Life Care (India), Lakshmy Raj Enterrprises (India), Samruddhi Organic Farm (India), Aswartha Traders (India), Kamaljis Enterprises (India), CK And Co. (United States), Ganaay Foods LLC (India) and Nisarga Organic And Millets (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Mangalam Masala (India), Southern Trade Link (India) and Shreeji Trading (India).
Segmentation Overview
AMA Research has segmented the market of Global Foxtail Millet market by Type (Organic and Conventional), Application (Online Retail and Offline Retail) and Region.
On the basis of geography, the market of Foxtail Millet has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channels, the sub-segment i.e. Trade Associations will boost the Foxtail Millet market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
value Oriented Customers
Market Growth Drivers:
Changing Lifestyles and Urbanization and Increasing Number of diseases such as Obesity, Cardiovascular Problems such as Heart Attacks and Coronary Artery Diseases and Others.
Challenges:
High Product Price as Compared to its Traditional Counter Part and Product Recall Hamper the Market Growth
Restraints:
Lack of Awareness Among End Users and Side Effects Associated with Foxtails Millets
Opportunities:
Growing Awareness Among Population Regarding Health Benefits Associated With Millets and Government Initiatives to Promote Millets
Market Leaders and their expansionary development strategies
In October 2023, The India Millets Association partnered with the National Cooperative Development Corporation (NCDC) to promote the production and consumption of millets, including Foxtail Millet. This partnership aims to support farmers, improve processing infrastructure, and expand market access for Foxtail Millet.
In December 2023, Ixore India Private Limited introduced a new line of Foxtail Millet-based baby food products. This reflects the growing demand for organic and healthy baby food options.
United Nations General Assembly has passed the resolution to celebrate the International Year of Millets (IYM) in 2023, to promote the health benefits of millets and their suitability under the changing climatic conditions globally. As IYM is around the corner, it is expected that the demand for millets will grow exponentially in many countries.
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.