New York, United States, Nov. 28, 2023 (GLOBE NEWSWIRE) -- According to Reed Intelligence, "The global foxtail millet market is expected to grow at a CAGR of 4.9% during the forecast period." This growth is being driven by increasing consumer awareness of the health benefits of foxtail millet, rising demand for gluten-free and low-GI foods, and growing disposable incomes in developing countries.
Foxtail millet is a small, round grain that is native to Asia and Africa. It is a good source of protein, fiber, and minerals, and it is also gluten-free and low in glycemic index. Foxtail millet is a versatile grain that can be used in a variety of dishes, including porridge, pancakes, and bread. It is also a popular ingredient in traditional Asian and African cuisines.
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Key Market Trends
Increasing Consumer Awareness of Health Benefits:
Foxtail millet is a good source of protein, fiber, and minerals, and it is also gluten-free and low in glycemic index. As consumers become more health-conscious, they are increasingly seeking out alternative grains such as foxtail millet.
Rising Demand for Gluten-Free and Low-GI Foods:
Gluten-free diets are becoming increasingly popular, as many people are intolerant to gluten. Foxtail millet is a naturally gluten-free grain, making it a good option for those following a gluten-free diet. Foxtail millet is also low in glycemic index, which means that it does not cause a spike in blood sugar. This makes it a good choice for people with diabetes or who are looking to manage their weight.
Growing Disposable Incomes in Developing Countries:
Disposable incomes are rising in developing countries, which is leading to increased demand for premium food products such as foxtail millet. Foxtail millet is a nutritious and affordable grain, making it a good option for consumers in developing countries.
Report Scope
| Report Metric | Details |
| Compound Annual Growth Rate (CAGR) | 4.9% |
| Forecast Period | 2023-2031 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends |
| Segments Covered | Segmentation By Type
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| Geographies Covered |
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| Market Drivers |
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Foxtail millet is an annual grass plant that belongs to the Poaceae family. It typically grows to a height of 2 to 4 feet and produces slender, bristly spikes or "foxtails" that contain the edible seeds.
Foxtail millet is well-suited to a range of environmental conditions. It can grow in areas with low rainfall and is relatively drought-tolerant. It is also a hardy plant, able to thrive in poor soils. These qualities make it an important crop in regions with challenging agricultural conditions.
Key Challenges
- One of the key challenges facing the foxtail millet market is competition from other grains such as quinoa and oats. However, foxtail millet has a number of advantages over these grains, such as its lower price and its higher protein content.
- Another challenge facing the market is the need for education about the health benefits of foxtail millet. Many consumers are not aware of the health benefits of foxtail millet, and as a result, they are not likely to purchase it.
Regional Analysis
Asia-Pacific is the largest market for foxtail millet, accounting for the majority of the global market share. The region is home to a large and growing population, which is driving the demand for food. Foxtail millet is a relatively affordable grain, which makes it a good option for people in developing countries in the region. The increasing demand for gluten-free foods is also driving the growth of the market in Asia-Pacific.
North America is the second largest market for foxtail millet. The region is home to a large number of health-conscious consumers, who are increasingly aware of the health benefits of foxtail millet. The rising demand for organic food is also driving the growth of the market in North America.
Europe is the third largest market for foxtail millet. The region is home to a large number of consumers who are looking for gluten-free and healthy food options. The increasing demand for organic food is also driving the growth of the market in Europe.
Key Players
- Vee Green Organic Life Care
- Aswartha Traders
- CK And Co.
- Samruddhi Organic Farm
- Mangalam Masala
- Nisarga Organic And Millets
- Kamaljis Enterprises
- Lakshmy Raj Enterrprises
- Southern Trade Link
- Ganaay Foods LLC
- Shreeji Trading
- Greenest ＆ Co
Foxtail Millet Market Segmentations
Segmentation By Type
- Organic
- Conventional
Segmentation By Application
- Online Retail
- Offline Retail
Segment by Region
- North America
- Europe
- APAC
- Middle East and Africa
- LATAM
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