NEW YORK, March 16, 2023 /PRNewswire/ — The finger millet market size is forecast to increase by USD 4,683.93 million from 2022 to 2027, at a CAGR of 6.48%, according to the recent market study by Technavio. The market is driven by the low maintenance of finger millet cultivation. As it can withstand droughts and doesn’t need as much water as other crops do, finger millet is a sustainable crop. The crop does well in the frequently water-scarce arid and semi-arid regions of Africa and Asia. Additionally, finger millets can withstand temperatures of up to 116.6 F, which is higher than what crops like rice and wheat can. Therefore, finger millets are emerging as a key strategy for farmers struggling to adapt to climate change. As little as 25% of the rainfall needed by crops like rice, wheat, sugarcane, and bananas is needed for finger millets. In the dryland regions of India, farmers who cannot afford expensive irrigation systems or power equipment are not burdened by finger millet cultivation. Moreover, farmers also need not pay continuous attention to the crop’s survival, unlike other crops. Such factors will boost the growth of the global finger millet market during the forecast period. Take the right approach to cop with the financial crisis by taking an informed decision – Talk to us
Technavio has announced its latest market research report titled Global Finger Millet Market 2023-2027
Finger millet market – Segment Overview
The market is segmented by application (food source, fodder, and baking), distribution channel (offline and online), and geography (APAC, Middle East and Africa, Europe, South America, and North America).
Segmentation by application (Inclusion/Exclusion)
The market share growth by the food source segment will be significant during the forecast period. Finger millet is an excellent source of natural calcium and iron. It is frequently used to treat illnesses like anemia, depression, insomnia, and anxiety. It also aids in appetite regulation. The consumption of finger millet to prevent harmful health conditions like high blood pressure, liver and heart issues, and asthma is one reason for the market’s expansion. Due to its high calcium content, it also aids in the strengthening of growing children’s and infants’ bones. Hence, such factors are anticipated to propel the segment growth during the forecast period.
Finger millet market – Regional Analysis
APAC is estimated to contribute 45% to the growth of the global market during the forecast period. In APAC nations like China and India, finger millet is primarily used as a food source. Finger millets are becoming popular in the region’s urban markets as a result of improved distribution and transportation methods. Due to its superior nutritional value and high digestibility compared to other crops, it is also in demand as a fodder crop. Given the country’s growing urbanization and rising incomes, the demand for livestock products in India has skyrocketed, driving the demand for finger millets-based fodder. Furthermore, due to their low price compared to other grains, finger millets are in high demand as fodder. These factors will drive the finger millet market growth in APAC.
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Finger millet market – Vendor Landscape
Technavio has extensively analyzed 15 major vendors, including Akshaa Foods, Ancient Golden Mill, Deepan Mills, Dharani Farming and Marketing Cooperative, E5 Commodities, Farmer Exim, GEEWIN EXIM, Giva Agro, Ipahad, Kaadu Organic Farm, Kenya Seed Co. Ltd., Miheraa Organic Foods, Pioneer Agro Industry, Pure Products, Royal Mineral, Simosis International, SK Royal Industries, and Nature Bio Foods Ltd.
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Key Benefits for Industry Players and Stakeholders –
The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
It also provides detailed analyses of the market’s competitive landscape and vendors’ product offerings.
The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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Customer Landscape – Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio
One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage.
Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
Furthermore, market adoption rates for all regions have been covered.
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What are the key data covered in this finger millet market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the finger millet market between 2023 and 2027
Precise estimation of the size of the finger millet market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the finger millet market industry across APAC, Europe, North America, Middle East and Africa, and South America
A thorough analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of finger millet market vendors
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Finger Millet Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.48% |
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Market growth 2023-2027 |
USD 4,683.93 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
5.5 |
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Regional analysis |
APAC, Middle East and Africa, Europe, South America, and North America |
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Performing market contribution |
APAC at 45% |
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Key countries |
Nigeria, Niger, India, China, and Russia |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Akshaa Foods, Ancient Golden Mill, Deepan Mills, Dharani Farming and Marketing Cooperative, E5 Commodities, Farmer Exim, GEEWIN EXIM, Giva Agro, Ipahad, Kaadu Organic Farm, Kenya Seed Co. Ltd., Miheraa Organic Foods, Pioneer Agro Industry, Pure Products, Royal Mineral, Simosis International, SK Royal Industries, and Nature Bio Foods Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global finger millet market 2017 – 2021
Exhibit 18: Historic Market Size – Data Table on Global finger millet market 2017 – 2021 ($ million)
4.2 Application Segment Analysis 2017 – 2021
Exhibit 19: Historic Market Size – Application Segment 2017 – 2021 ($ million)
4.3 Distribution channel Segment Analysis 2017 – 2021
Exhibit 20: Historic Market Size – Distribution channel Segment 2017 – 2021 ($ million)
4.4 Geography Segment Analysis 2017 – 2021
Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)
4.5 Country Segment Analysis 2017 – 2021
Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)
5 Five Forces Analysis
5.1 Five forces summary
Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
5.7 Market condition
Exhibit 29: Chart on Market condition – Five forces 2022 and 2027
6 Market Segmentation by Application
6.1 Market segments
Exhibit 30: Chart on Application – Market share 2022-2027 (%)
Exhibit 31: Data Table on Application – Market share 2022-2027 (%)
6.2 Comparison by Application
Exhibit 32: Chart on Comparison by Application
Exhibit 33: Data Table on Comparison by Application
6.3 Food source – Market size and forecast 2022-2027
Exhibit 34: Chart on Food source – Market size and forecast 2022-2027 ($ million)
Exhibit 35: Data Table on Food source – Market size and forecast 2022-2027 ($ million)
Exhibit 36: Chart on Food source – Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Food source – Year-over-year growth 2022-2027 (%)
6.4 Fodder – Market size and forecast 2022-2027
Exhibit 38: Chart on Fodder – Market size and forecast 2022-2027 ($ million)
Exhibit 39: Data Table on Fodder – Market size and forecast 2022-2027 ($ million)
Exhibit 40: Chart on Fodder – Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Fodder – Year-over-year growth 2022-2027 (%)
6.5 Baking – Market size and forecast 2022-2027
Exhibit 42: Chart on Baking – Market size and forecast 2022-2027 ($ million)
Exhibit 43: Data Table on Baking – Market size and forecast 2022-2027 ($ million)
Exhibit 44: Chart on Baking – Year-over-year growth 2022-2027 (%)
Exhibit 45: Data Table on Baking – Year-over-year growth 2022-2027 (%)
6.6 Market opportunity by Application
Exhibit 46: Market opportunity by Application ($ million)
Exhibit 47: Data Table on Market opportunity by Application ($ million)
7 Market Segmentation by Distribution Channel
7.1 Market segments
Exhibit 48: Chart on Distribution Channel – Market share 2022-2027 (%)
Exhibit 49: Data Table on Distribution Channel – Market share 2022-2027 (%)
7.2 Comparison by Distribution Channel
Exhibit 50: Chart on Comparison by Distribution Channel
Exhibit 51: Data Table on Comparison by Distribution Channel
7.3 Offline – Market size and forecast 2022-2027
Exhibit 52: Chart on Offline – Market size and forecast 2022-2027 ($ million)
Exhibit 53: Data Table on Offline – Market size and forecast 2022-2027 ($ million)
Exhibit 54: Chart on Offline – Year-over-year growth 2022-2027 (%)
Exhibit 55: Data Table on Offline – Year-over-year growth 2022-2027 (%)
7.4 Online – Market size and forecast 2022-2027
Exhibit 56: Chart on Online – Market size and forecast 2022-2027 ($ million)
Exhibit 57: Data Table on Online – Market size and forecast 2022-2027 ($ million)
Exhibit 58: Chart on Online – Year-over-year growth 2022-2027 (%)
Exhibit 59: Data Table on Online – Year-over-year growth 2022-2027 (%)
7.5 Market opportunity by Distribution Channel
Exhibit 60: Market opportunity by Distribution Channel ($ million)
Exhibit 61: Data Table on Market opportunity by Distribution Channel ($ million)
8 Customer Landscape
8.1 Customer landscape overview
Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
9.1 Geographic segmentation
Exhibit 63: Chart on Market share by geography 2022-2027 (%)
Exhibit 64: Data Table on Market share by geography 2022-2027 (%)
9.2 Geographic comparison
Exhibit 65: Chart on Geographic comparison
Exhibit 66: Data Table on Geographic comparison
9.3 APAC – Market size and forecast 2022-2027
Exhibit 67: Chart on APAC – Market size and forecast 2022-2027 ($ million)
Exhibit 68: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
Exhibit 69: Chart on APAC – Year-over-year growth 2022-2027 (%)
Exhibit 70: Data Table on APAC – Year-over-year growth 2022-2027 (%)
9.4 Middle East and Africa – Market size and forecast 2022-2027
Exhibit 71: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
Exhibit 72: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
Exhibit 73: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
Exhibit 74: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
9.5 Europe – Market size and forecast 2022-2027
Exhibit 75: Chart on Europe – Market size and forecast 2022-2027 ($ million)
Exhibit 76: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
Exhibit 77: Chart on Europe – Year-over-year growth 2022-2027 (%)
Exhibit 78: Data Table on Europe – Year-over-year growth 2022-2027 (%)
9.6 South America – Market size and forecast 2022-2027
Exhibit 79: Chart on South America – Market size and forecast 2022-2027 ($ million)
Exhibit 80: Data Table on South America – Market size and forecast 2022-2027 ($ million)
Exhibit 81: Chart on South America – Year-over-year growth 2022-2027 (%)
Exhibit 82: Data Table on South America – Year-over-year growth 2022-2027 (%)
9.7 North America – Market size and forecast 2022-2027
Exhibit 83: Chart on North America – Market size and forecast 2022-2027 ($ million)
Exhibit 84: Data Table on North America – Market size and forecast 2022-2027 ($ million)
Exhibit 85: Chart on North America – Year-over-year growth 2022-2027 (%)
Exhibit 86: Data Table on North America – Year-over-year growth 2022-2027 (%)
9.8 India – Market size and forecast 2022-2027
Exhibit 87: Chart on India – Market size and forecast 2022-2027 ($ million)
Exhibit 88: Data Table on India – Market size and forecast 2022-2027 ($ million)
Exhibit 89: Chart on India – Year-over-year growth 2022-2027 (%)
Exhibit 90: Data Table on India – Year-over-year growth 2022-2027 (%)
9.9 Nigeria – Market size and forecast 2022-2027
Exhibit 91: Chart on Nigeria – Market size and forecast 2022-2027 ($ million)
Exhibit 92: Data Table on Nigeria – Market size and forecast 2022-2027 ($ million)
Exhibit 93: Chart on Nigeria – Year-over-year growth 2022-2027 (%)
Exhibit 94: Data Table on Nigeria – Year-over-year growth 2022-2027 (%)
9.10 Russia – Market size and forecast 2022-2027
Exhibit 95: Chart on Russia – Market size and forecast 2022-2027 ($ million)
Exhibit 96: Data Table on Russia – Market size and forecast 2022-2027 ($ million)
Exhibit 97: Chart on Russia – Year-over-year growth 2022-2027 (%)
Exhibit 98: Data Table on Russia – Year-over-year growth 2022-2027 (%)
9.11 China – Market size and forecast 2022-2027
Exhibit 99: Chart on China – Market size and forecast 2022-2027 ($ million)
Exhibit 100: Data Table on China – Market size and forecast 2022-2027 ($ million)
Exhibit 101: Chart on China – Year-over-year growth 2022-2027 (%)
Exhibit 102: Data Table on China – Year-over-year growth 2022-2027 (%)
9.12 Niger – Market size and forecast 2022-2027
Exhibit 103: Chart on Niger – Market size and forecast 2022-2027 ($ million)
Exhibit 104: Data Table on Niger – Market size and forecast 2022-2027 ($ million)
Exhibit 105: Chart on Niger – Year-over-year growth 2022-2027 (%)
Exhibit 106: Data Table on Niger – Year-over-year growth 2022-2027 (%)
9.13 Market opportunity by geography
Exhibit 107: Market opportunity by geography ($ million)
Exhibit 108: Data Tables on Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 109: Impact of drivers and challenges in 2022 and 2027
10.4 Market trends
11 Vendor Landscape
11.1 Overview
11.2 Vendor landscape
Exhibit 110: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 111: Overview on factors of disruption
11.4 Industry risks
Exhibit 112: Impact of key risks on business
12 Vendor Analysis
12.1 Vendors covered
Exhibit 113: Vendors covered
12.2 Market positioning of vendors
Exhibit 114: Matrix on vendor position and classification
12.3 Akshaa Foods
Exhibit 115: Akshaa Foods – Overview
Exhibit 116: Akshaa Foods – Product / Service
Exhibit 117: Akshaa Foods – Key offerings
12.4 Ancient Golden Mill
Exhibit 118: Ancient Golden Mill – Overview
Exhibit 119: Ancient Golden Mill – Product / Service
Exhibit 120: Ancient Golden Mill – Key offerings
12.5 Deepan Mills
Exhibit 121: Deepan Mills – Overview
Exhibit 122: Deepan Mills – Product / Service
Exhibit 123: Deepan Mills – Key offerings
12.6 Dharani Farming and Marketing Cooperative
Exhibit 124: Dharani Farming and Marketing Cooperative – Overview
Exhibit 125: Dharani Farming and Marketing Cooperative – Product / Service
Exhibit 126: Dharani Farming and Marketing Cooperative – Key offerings
12.7 E5 Commodities
Exhibit 127: E5 Commodities – Overview
Exhibit 128: E5 Commodities – Product / Service
Exhibit 129: E5 Commodities – Key offerings
12.8 GEEWIN EXIM
Exhibit 130: GEEWIN EXIM – Overview
Exhibit 131: GEEWIN EXIM – Product / Service
Exhibit 132: GEEWIN EXIM – Key offerings
12.9 Ipahad
Exhibit 133: Ipahad – Overview
Exhibit 134: Ipahad – Product / Service
Exhibit 135: Ipahad – Key offerings
12.10 Kaadu Organic Farm
Exhibit 136: Kaadu Organic Farm – Overview
Exhibit 137: Kaadu Organic Farm – Product / Service
Exhibit 138: Kaadu Organic Farm – Key offerings
12.11 Kenya Seed Co. Ltd.
Exhibit 139: Kenya Seed Co. Ltd. – Overview
Exhibit 140: Kenya Seed Co. Ltd. – Product / Service
Exhibit 141: Kenya Seed Co. Ltd. – Key offerings
12.12 Nature Bio Foods Ltd.
Exhibit 142: Nature Bio Foods Ltd. – Overview
Exhibit 143: Nature Bio Foods Ltd. – Product / Service
Exhibit 144: Nature Bio Foods Ltd. – Key offerings
12.13 Pioneer Agro Industry
Exhibit 145: Pioneer Agro Industry – Overview
Exhibit 146: Pioneer Agro Industry – Product / Service
Exhibit 147: Pioneer Agro Industry – Key offerings
12.14 Pure Products
Exhibit 148: Pure Products – Overview
Exhibit 149: Pure Products – Product / Service
Exhibit 150: Pure Products – Key offerings
12.15 Royal Mineral
Exhibit 151: Royal Mineral – Overview
Exhibit 152: Royal Mineral – Product / Service
Exhibit 153: Royal Mineral – Key offerings
12.16 Simosis International
Exhibit 154: Simosis International – Overview
Exhibit 155: Simosis International – Product / Service
Exhibit 156: Simosis International – Key offerings
12.17 SK Royal Industries
Exhibit 157: SK Royal Industries – Overview
Exhibit 158: SK Royal Industries – Product / Service
Exhibit 159: SK Royal Industries – Key offerings
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 160: Inclusions checklist
Exhibit 161: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 162: Currency conversion rates for US$
13.4 Research methodology
Exhibit 163: Research methodology
Exhibit 164: Validation techniques employed for market sizing
Exhibit 165: Information sources
13.5 List of abbreviations
Exhibit 166: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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