About Millet Seed
The millets are the vital food and fodder crops in developing regions, and are mostly gaining more importance across the globe. It is increasingly becoming populous, malnourished and facing large climatic uncertainties. Further, the millet seeds are modified to wide range of temperatures, moisture-regimes and input conditions supplying food and feed to millions of dryland farmers, mainly in the developing world. It is used to make bread, beer, cereal, and other dishes. Millet is known as one of the highly preferred staple food. With such huge inclinations, the demand for millet seed is continue to rise. Geographically, USA and Asia Pacific region is forecasted to grow with a higher growth rate than Europe region. Growing production of Millet Seeds and ongoing demand for biomethane across the European economies creating growth opportunities for market in a fruitful manner.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.1% |
Market players are focusing on providing millet seed with higher quality along with complying all regulatory standards to fascinate more end users. They are also focusing on the introduction of numerous advanced & attractive features to further offer qualified millet seeds to the farmers. The market is fragmented owing to the presence of several international and domestic providers. The high focus on the offering cost effective product offerings. Besides, the numerous industry profitability has led the entry of new players, in turn, increasing the level of rivalry in the already competitive market Analyst at AMA Research estimates that United States and Indian Vendors will contribute the maximum growth to Global Millet Seed market throughout the forecasted period. 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.
Dupont (United States), Bayer (Germany), Alta Seeds (United States), Allied Seed (United States), Eastern Colorado Seeds (United States), Johnston Seed Company (United States), Advanta Seeds (United Arab Emirates), Kaveri Seed Company Ltd. (India), Ganga Kaveri Seeds Pvt. Ltd. (India) and JK Agri Genetics Ltd. (India) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Millet Seed market by Type (Major Millets and Minor Millets), Application (Food and Scientific Research) and Region.
On the basis of Type, Major Millets are dominating the market in the year 2023 where as Minor Millets stood as second largest market share.
On the basis of application, Food segment is dominating the market in the year 2023 where as Scientific Research segment stood as second largest market .On the basis of geography, the market of Millet Seed 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). Asia Pacific region held largest market share in the year 2023. North America, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Millet Seed market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Innovation in Seed Technology
Market Growth Drivers:
Increasing Requirement of Food Production and Rising Usage of Biofuels & Animal Feed
Challenges:
Extensive Research & Approval Time Required in Development of New Seed Varieties
Restraints:
High Cost of Millet Seed and Impact of Unfavourable Weather on the Seed Production
Opportunities:
Upgrading in Seed Replacement Rate and Growing Usage of Millet Seeds in Several Industries
Market Leaders and their expansionary development strategies
In November 2021, Crystal Crop Protection Limited, one of the leading R&D based crop solution companies in India, has entered into a definitive agreement with Bayer to acquire Cotton, Mustard, Pearl Millet and Grain Sorghum hybrids in India.With this acquisition, Crystal will become strong in its field crops seed business as it comes with powerful brands and R&D capabilities.
In 2021, Government of India has initiated Millet Mission" initiative. It is aimed for giving the farmers right price for small cereal crops with offering input assistance, procurement arrangements and ensure the benefits from the expertise of experts. Further, MoU has been signed between Indian Institute of Millet Research, Hyderabad and several Indian States for these "Millet Mission".
Seed Standard : The minimum percentage of pure seeds and maximum permissible limits for inert matter, other crop seeds have been prescribed. The maximum permissible limits for objectionable weeds, seeds infected by seed borne diseases have been prescribed to ensure goods seed health., The General Seed Certification Standards: Following specific standards constitute the standards for certification of millet seed. The certification of seeds will be limited to a maximum of two (2) generations from foundation seed. and Foundation and registered production fields must have 1,320 isolation from any other cross compatible millet. Certified fields must have 660 feet.
Key Target Audience
Millet Seed Manufacturers, Millet Seed Providers, Suppliers of Millet Seed, Wholesalers, Distributors, and Retailers of Millet Seed, Agricultural Industry, Governmental Bodies and Research Firms
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.