Millet and Sorghum Ancient Grains Market - Forecast (2020 - 2025)
Millet and Sorghum Ancient Grains Market Overview
The global Millet Ancient Grains market is estimated to surpass $9.3 billion by 2022, declining at a CAGR of 1.8% during the forecast period. The global sorghum market, on the other hand, is poised to witness significant growth owing to the change in lifestyles of consumers coupled with the rise in demand for healthy and nutritious food. The RoW region evolved as the largest market for millet and sorghum ancient grains as the market is more prevalent in the African region.
Millet and Sorghum Ancient Grains Market Outlook
Ancient grains are defined as grains that have largely remained unchanged over several hundred years. Millet is one of the earliest cultivated crops and is a staple crop in Africa, China, and India. Millet is high in magnesium. Whole cooked millet can be served as a side dish or added to soups. When popped, it can be eaten as a snack. Millet flour can be used in baking. Sorghum is a staple crop in Asia and West Africa and is grown in many countries including the U.S., India, and Nigeria. It is the world's fifth most important cereal crop. Nutritionally, Sorghum is high in fiber, protein, and b-complex vitamins.
Increasing innovations in value-added products prepared from sorghum and millet is one of the key factors that is driving the millet and sorghum ancient grains market. The growing demand for gluten-free products in emerging countries such as china, India, and others is propelling the global millet and sorghum ancient grains market. Rise in developments and applications of ancient grains in brewing and starch industries are expected to create opportunities for the global millet and sorghum ancient grains market during the forecast period.
This report provides an in-depth analysis of the millet and sorghum ancient grains market by ancient grain type, application, and geography.
The millet ancient grains market in RoW was valued at $4.78 billion in 2017 and is estimated to reach $3.88 billion by 2022, declining at a CAGR of 4.1% during the forecast period. In some countries of the Middle East region, millet is sown as a catch crop when sowing conditions for the main crop are unfavorable. However, even in such situations, millet is sometimes left unharvested and the area simply grazed by livestock. The sorghum ancient grains market in RoW, on the other hand, was valued at $9.24 billion in 2017 and is projected to reach $9.94 billion by 2022, growing at a CAGR of 1.5% during the forecast period.
Millet and Sorghum Ancient Grains Market Growth Drivers
The demand for ancient grains is gaining traction owing to their health benefits and richness in proteins. Rapid urbanization and increase in health consciousness among consumers are expected to surge the demand for millet and sorghum flour during the forecast period. Ancient grains such as millet and sorghum are safe to eat for those who are suffering from Celiac disease and other chronic diseases. Low cost requirements for the farming of millets and sorghum are also set to drive the market. The demand for dry land crop residues such as millets and sorghum is increasing the market value globally.
Millet and Sorghum Ancient Grains Market Challenges
Global climatic changes and land degradation problems are hindering the growth of the market
Poor outreach in terms of sorghum and millet among customers
High transportation costs and large variability of tradable volumes
Non-availability of ready to use or easy to cook foods from millets in the market
Millet and Sorghum Ancient Grains Market
Millet and Sorghum Ancient Grains Market Research Scope
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the grains in millet and sorghum ancient grains market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of millet and sorghum ancient grains, and their specific applications in different industries.
Millet and Sorghum Ancient Grains Market Report: Industry Coverage
Ancient Grain Type of Millet and Sorghum Ancient Grains: Millet and sorghum
Applications of Millet and Sorghum Ancient Grains: Bakery & confectionary, sports nutrition, infant formula, cereals, animal feed, and others
Americas: The U.S., Canada, Mexico, Brazil, Venezuela, Argentina, and Rest of Americas
Europe: The U.K., Germany, Italy, France, Spain, Russia, Ukraine and Rest of Europe
APAC: China, Australia, South Korea, India and Rest of APAC
Rest of the World: The Middle East and Africa
Millet and Sorghum Ancient Grains Market Key Players Perspective
Some of the key players mentioned in this report are Cargill Inc., Bunge Limited, CHS Inc., Archer Daniels Midland Company, and Louis Dreyfus Company.
Millet and Sorghum Ancient Grains Market Trends
Rising promotion of sorghum and millets usage in the biofuel sector provides significant opportunities for the growth of the millet and sorghum ancient grains market.
Innovative value added products prepared from sorghum and millet grains are set to provide new opportunities for food product manufacturers.
Growing developments and applications of sorghum and millet in beer brewing and starch preparations to provide opportunities in coming future.
Increasing demand for niche gluten free products is providing opportunities for millet and sorghum providers.
4. Millet and Sorghum Ancient Grains Market Forces
10. Millet and Sorghum Ancient Grains Market Company Analysis
"*Financials would be provided on a best efforts basis for private companies"